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STABLE Student Ambassador Story - Ruthie

Ruthie's Future Is Brighter With Her STABLE Account

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To celebrate ABLE Saving Day, Ohio 529 CollegeAdvantage is sharing the story of a family who is saving in a STABLE account for their daughter's future long-term expenses.

STABLE accounts empower individuals with disabilities to save and invest money for their future needs all without jeopardizing their eligibility for benefits such as Medicaid and Supplemental Security Income (SSI). These tax-advantaged savings accounts offer greater financial independence while helping accountholders build long-term financial security. The best part? Friends and family can chip in, too, which makes it a great tool for planning for the future with peace of mind at every chapter! STABLE accounts open the door to community participation and employment, while supporting personal goals, promoting financial literacy, and encouraging independence.

STABLE Account ambassador stories give insight into how thousands of individuals are improving their lives with smart  STABLE Student Ruthie pets her dog while sitting on blue couchsaving. Meet Ruthie, a high schooler from Powell, Ohio, whose story is an inspiration to so many. Born with a congenital heart defect, Ruthie faced medical challenges from the beginning of her life. She underwent multiple surgeries throughout her younger years but through every chapter, Ruthie has shown a strength that continues to inspire everyone around her.

Today, Ruthie is thriving, loves to remain active in her community by spending time with her friends, and is focused on making the most of her high school years. She enjoys creating memories with her family, traveling to new places, and is already thinking ahead to college and her future.

What makes Ruthie’s story a success is the thoughtful planning her parents, Jackie and Chris, began years ago when Ruthie was young. They opened a STABLE Account for her which has given them the opportunity to save for Ruthie’s future and plan for exciting goals. Ruthie’s account is used to save for long-term expenses that will enrich her life, including her education, travel, and other needs that will help her live more independently and confidently as she enters the next chapter of her life at college.

Her journey is a wonderful example of how planning with STABLE Account can empower individuals to build meaningful, independent lives, and give peace of mind to their loved ones along the way.

To learn more about Ruthie’s story, and the benefits of STABLE Account please visit StableAccount.com.

 

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529 Short Course: New Parents

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5 things every new parent needs to know about saving for education

  1. Why Ohio 529?
    529s are specifically created for higher education savings. Unlike a traditional banking account, a 529 account benefits from tax-free earnings and tax-free withdrawals. For Ohio residents, there is also a state income tax deduction for those contributions.
  2. It’s simple to start.
    You can open your 529 account online in minutes with as little as $25. With ready-made portfolio options, you don’t have to be a financial expert to feel confident in your savings plan choices.
  3. Set it and forget it with automatic deposits.
    The sooner you start saving, the longer your account benefits from the Ohio 529 tax advantages as well as compound interest. Many new parents take their 529 contributions off their to-do list by setting up small automatic deposits from either their banking accounts or paycheck. Also, with our ReadySave 529 app, it’s also easy to track and adjust your account right on your mobile device.
  4. Save for college, career training, and more.
    Ohio 529 can be used at over 30,000 schools of all kinds, nationwide, including universities; community colleges; trade, technical, and vocational schools; certificate programs; and apprenticeships. Your Ohio 529 account can also pay for K-12 tuition at a public, private, or religious school. And, if it’s not needed for educational expenses, you can now roll over your 529 to a Roth IRA.
  5. Others can help.
    It’s easy for family and friends to contribute to your child’s account and receive tax benefits for themselves. You can share your account’s unique Ugift number with others to contribute online without creating their own 529 accounts. Those who live in Ohio will also receive a state income tax deduction for their contributions. Also, you can sign up to have reminder emails sent to you and loved ones for the big milestones in your child’s life.
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A mother watches her daughter open a gift

Ugift Is Savings Gold

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Hoping to find gold at the end of the rainbow? If you are saving with Ohio 529 CollegeAdvantage, you have the benefit of Ugift with your account, which is savings gold.

Ugift makes it easy for others to give to your Ohio 529 account. With Ugift, you generate a unique code which allows loved ones to contribute to your Ohio 529 savings plan without needing the actual account number. Once they have the Ugift code, your friends and family can visit Ugift529.com to make their online gifts directly to your 529.

When friends and family ask for gift ideas, share that you are saving for your child’s future education with Ohio 529. Then invite them to join in with gift contributions to your Ohio 529 account with Ugift. After all, a gift for your child’s education will truly last a lifetime.

The quickest and easiest way to pass along your child’s Ugift code is with the ReadySave 529 app, which you can access as an Ohio 529 CollegeAdvantage account owner. At the bottom of every page is an Ugift icon. Click on the gift symbol to view your Ugift code which you can send immediately as an invitation via texts, emails, and Facebook/Instagram chats from your phone.

Or log into your account online to view your child’s Ugift code to send to family and friends who would like to give the gift of education.

The Ugift code doesn’t expire. Which means whenever there is an occasion to celebrate­ like baby showers, holidays, birthdays, graduations, and special achievements, your family and friends can give to your Ohio 529 account. And they can choose to contribute as much as they want whenever they want. It can be a one-time gift or recurring gift; all they need is that Ugift code. Your loved ones’ contributions - whether big or small – will add up over the years. Added to the power of compound interest, these gifts will power your 529 savings to cover even more college and career training costs.

An added bonus for gift givers who live in Ohio: They are also eligible to receive a state income tax deduction for their Ohio 529 gift contributions, up to $4,000 per year, per beneficiary.

To learn more about all of the gifting options with Ohio 529 and order cards for special occasions, visit  529 Gift Central.

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  • 1 Thumbnail image for WATCH: Understand the cost of delaying
  • 2 Thumbnail image for WATCH: Compare the two most common ways to save
  • 3 Thumbnail image for READ: The 5 things every new parent needs to know about saving for education
  • 4 Thumbnail image for WATCH: Wondering about flexibility?
  • 5 Thumbnail image for WATCH: Here's help figuring out how much to save.
  • 6 Thumbnail image for READ: Why a Ugift code is savings gold
  • 7 Thumbnail image for WATCH: Concerned about annoying fees?
  • 8 Thumbnail image for WATCH: The simplest, most popular way to invest
  • 9 Thumbnail image for WATCH: Complete portfolios with predefined risk levels