Individual

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

An Achieving a Better Life Experience (ABLE) account is a type of tax-advantaged savings account that an eligible individual can use to pay for qualified disability expenses. The eligible individual is the owner and designated beneficiary of the ABLE account. An eligible individual may establish an ABLE account provided that the individual is blind or disabled by a condition that began before the individual’s 26th birthday.

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to educate investors about ABLE accounts. An Achieving a Better Life Experience (ABLE) account provides a tax-advantaged method to save for disability-related expenses. Contributions are not tax deductible for federal income tax purposes, but your investments can grow tax free and remain so when withdrawn and used for disability-related expenses. Similar to 529 college-savings plans, ABLE programs are administered by the states.

Generally, the ABLE Act permits a state to establish and maintain a new type of tax-advantaged savings program (under Section 529A of the Internal Revenue Code). Contributions may be made to a 529A account established for a designated beneficiary to pay for qualified disability expenses.

Be prepared before a disaster strikes your community or small business. As part of a series of focus groups, the Kansas City Fed has developed an array of materials to help you be prepared before and after a disaster. Toolkit includes financial inventory forms, checklists, resources and Spanish-language resources.

A one-page infographic with steps you can take to prepare you and your family financially for a disaster

The Consumer Finance Protection Bureau compiled a list of companies that offer their existing credit card customers free access to one of their credit scores. This list also includes information on other ways to get credit scores for free.

The Consumer Financial Protection Bureau's new portal helps you find information and learn about credit scores and reports while providing links to additional resources. It includes sections on the difference between credit scores and credit reports, what to look for and how to dispute errors on credit reports, and tips for building and keeping a good credit score.

Steps and tips on how to rebuild credit from the Consumer Financial Protection Bureau. Download guide in PDF Format.

Older adults can become targets of financial exploitation by family members, caregivers, scam artists, financial advisers, home repair contractors, fiduciaries (such as agents under power of attorney and guardians), and others. Older adults are attractive targets because they may have significant assets or equity in their homes.