When it comes to growing the funds placed in your NC ABLE Account, there are a variety of risk-based options ranging from aggressive options seeking higher returns to conservative investments that place capital preservation over growth. This way you have control over how this money is being invested.
Hundreds of North Carolina families are taking advantage of this tax-free withdrawal savings program. Overseen by the Department of State Treasurer and the Board of Trustees, NC ABLE currently has over 1,900 account holders with more than $20 million in assets and an average account balance of nearly $10,500.
NC ABLE accounts can be opened by an eligible individual or by the account owner’s parent, guardian, or person acting under a power of attorney. In addition, NC ABLE accounts can be funded by the account owner, family, or friends, and in some cases, funds can also be transferred to an NC ABLE account from a 529 college savings account. This means anyone in your child’s life can contribute to their long-term financial stability and success over the years. Learn more about the NC ABLE Program here to see if your child qualifies for enrollment.