Gaining Financial Freedom: How MiABLE Savings Account Empowered Aaron to Build a Secure Future

Introduction

For many individuals with disabilities, building savings often comes with obstacles that threaten access to essential benefits like SSI and Medicaid, creating significant barriers to long-term financial planning. This was the challenge faced by Aaron, a 39-year-old software analyst from Livonia, Michigan. Nearly two decades after a spinal cord injury, Aaron was determined to build a self-sufficient financial future, but restrictive asset limits tied to his benefits created a major roadblock. Through MiABLE savings accounts, a tax-advantaged disability savings solution, Aaron found a powerful way to achieve financial independence while preserving his access to critical benefits.

The Challenge: Saving While Preserving Essential Benefits

Aaron’s primary goal was to create a secure financial future for himself, and with degrees from the University of Notre Dame and Colorado State University, he had the professional drive to succeed. However, systemic barriers, particularly the strict SSI and Medicaid savings restrictions, posed a frustrating paradox: to secure his future, he had to limit his savings, which in turn restricted his financial independence. Accumulating personal savings could potentially jeopardize his eligibility for benefits he might need again someday, making long-term financial planning feel out of reach. He needed a solution that allowed him to save responsibly without risking the loss of vital support.

The Solution: MiABLE ABLE Savings Accounts Provide Security

Aaron learned about the Michigan program, MiABLE, through his mother, a CPA who recognized its potential for overcoming the financial challenges he faced. After conducting his own research, he realized MiABLE was the perfect fit for his goals, providing a legal and efficient way to surpass Social Security asset limits without risking his eligibility for benefits.

“MiABLE was the only way I could exceed the Social Security asset limits without risking eligibility for the benefits I might need again someday,” Aaron explained. “It gave me the peace of mind that my savings wouldn’t be subject to mandatory liquidation, unlike traditional retirement accounts. Plus, the fact that I can save up to $19,000* annually - tax-free - is huge.”

*The maximum contribution limit is $19,000 in 2025.  In 2026, this limit will increase to $20,000 and may be reviewed annually.

MiABLE not only solved the asset limit issue but also offered several other key benefits. The program allows savings and investments to grow tax-free, maximizing long-term potential, while funds saved in a MiABLE account do not count against asset limits for federal benefits like Medicaid and SSI. Additionally, the account provides flexibility, enabling funds to be used for a wide range of qualified disability-related expenses, from housing and transportation to education and assistive technology—not just medical bills. Aaron also found the process of opening an account simple and fast, taking only about 15 minutes online. By transferring funds from a traditional disability trust into a MiABLE account, Aaron was able to invest his money more efficiently and incorporate it into his overall financial planning strategy.

The Results: Financial Independence and Peace of Mind

With his MiABLE account, Aaron has transformed the way he approaches financial planning, making the program the cornerstone of his strategy for long-term disability savings and future security. While he primarily uses the account for retirement savings, he has also tapped into its flexibility for significant expenses, such as payments on his accessible minivan. This newfound financial autonomy has allowed him to plan for additional mobility equipment and even consider investing in self-driving vehicle technology when it becomes available.

The most profound outcome of using MiABLE has been a renewed sense of empowerment and confidence. Aaron’s story illustrates how the right financial tools can create tangible benefits for individuals with disabilities. “MiABLE empowers people with disabilities to be as independent as practical,” Aaron said. “Knowing you needn’t rely solely on the system is incredibly empowering.”

Why MiABLE Works: A Trusted Partner in Financial Empowerment

Aaron’s success demonstrates why MiABLE is more than just a savings program; it’s a trusted partner in achieving financial security. The program’s thoughtful design addresses the unique financial needs of the disability community, offering a reliable, government-sponsored savings tool that promotes empowerment and independence. For Aaron, this reliability has been crucial, giving him the confidence to manage his long-term savings without fear of losing essential benefits. His advice to others is simple but impactful: “Start early—even small contributions can potentially grow over time, especially with the investment tools and tax advantages. If you have questions, reach out to the MiABLE team. They’re knowledgeable and super helpful.”

Key Takeaways

Aaron’s journey offers valuable lessons for individuals and families navigating the complexities of special needs financial planning.

• Financial challenges are real: People with disabilities face unique hurdles due to benefit restrictions, which make saving money difficult and limit financial independence.
• ABLE accounts offer a solution: Programs like MiABLE provide a tax-advantaged way to save without jeopardizing eligibility for crucial benefits.
• Empowerment is key: MiABLE helps people with disabilities take control of their financial future, fostering independence and long-term security.
• Partnership builds confidence: A trusted and accessible program like MiABLE is a vital resource for individuals with disabilities, helping them achieve financial stability, independence, and peace of mind.

This is a paid testimonial, and Aaron is a current participant of the MiABLE plan. These testimonials are not a representative of the experience of other customers and is no guarantee of future performance or success.

For more information about MiABLE Disability Savings Program (the "Member Plan"), call 844.656.7225, or visit mi.savewithable.com to obtain the Plan Disclosure Booklet and/or the Investment Policy Statement, which include investment objectives, risks, charges, expenses, and other important information about the Member Plan. Please read and consider the Plan Disclosure Booklet carefully before investing.

Before investing in any ABLE program, you should consider whether your home state offers an ABLE program that provides its taxpayers with favorable state tax or other benefits that are only available through investment in the home state's ABLE program. You also should consult your financial, tax, or other adviser to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to directly contact your home state's ABLE program, or any other ABLE program, to learn more about those plans' features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The Member Plan is sponsored by the state of Michigan and administered by the Michigan Department of Treasury. The Member Plan is intended to be a qualified ABLE plan offered through the National ABLE Alliance. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services. The Member Plan’s Investment Options are allocations to mutual funds, ETFs, banking products and/or other investments. Except for the Checking Account Option, investments in the Member Plan are not insured by the FDIC. Interests in the Member Plan are municipal securities and the value of your Account will vary with market conditions.