Grow your savings tax-free
The first $2,000 in your ABLEnow account will be automatically allocated to the FDIC-insured ABLEnow Deposit Account, which is linked to your ABLEnow Card. Once the balance in the ABLEnow Deposit Account exceeds $2,000, you may opt to invest additional contributions into one or more investment portfolios.
Aggressive Growth Portfolio
The Aggressive Growth Portfolio invests entirely in the Vanguard LifeStrategy Growth Fund (the “Growth Fund”). The Growth Fund invests in other Vanguard Mutual Funds according to a fixed formula that reflects an allocation of approximately 80% of the Growth Fund’s assets to common stocks and 20% to bonds.
Moderate Growth Portfolio
The Moderate Growth Portfolio invests entirely in the Vanguard LifeStrategy Moderate Growth Fund (the “Moderate Growth Fund”). The Moderate Growth Fund invests in other Vanguard Mutual Funds according to a fixed formula that reflects an allocation of approximately 60% of the Moderate Growth Fund’s assets to common stocks and 40% to bonds.
Conservative Income Portfolio
The Conservative Income Portfolio invests entirely in the Vanguard LifeStrategy Income Fund (the “Income Fund”). The Income Fund invests in other Vanguard Mutual Funds according to a fixed formula that reflects an allocation of approximately 80% of the Income Fund’s assets to bonds, and 20% to common stocks.
Money Market Portfolio
The Money Market Portfolio invests entirely in the Fidelity® Investments Money Market Government Portfolio (“Money Market Fund”). Normally, at least 99.5% of the fund’s total assets are invested in cash, U.S. Government securities and/or repurchase agreements that are collateralized fully (i.e., collateralized by cash or government securities).
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Savings and Investment Options FAQs
ABLEnow makes it easy to save and invest at your own pace. The first $2,000 in your ABLEnow account will be automatically allocated to the FDIC-insured ABLEnow Deposit Account, which is linked to your ABLEnow Card.
Once the balance in the ABLEnow Deposit Account exceeds $2,000 (or a higher amount set by the Account Owner or Authorized Representative), you may opt to invest additional contributions into one or more investment portfolios.
Account Owners or their Authorized Representative may choose from three target-risk investment portfolios and one money market fund. You may choose to invest in one investment portfolio or allocate between or amongst the portfolios offered.
Each portfolio option is intended to address different goals, time horizon, and risk tolerances:
- Aggressive Growth
- Moderate Growth
- Conservative Income
- Money Market
To view details on these investment options, visit the Investments page.
Target-risk portfolios are a specific type of mutual fund that hold a diversified mix of stocks, bonds and other investments to meet a certain risk tolerance. Investors select a portfolio based on their time horizon and the amount of risk they prefer, such as conservative, moderate, and aggressive.
Target-risk portfolios are professionally managed to maintain their risk level over time. It’s good practice to periodically assess, and if appropriate, adjust investment choices with your current time horizon, risk tolerance, and objectives in mind.
Money market funds are a specific type of mutual fund that that invests in high-quality, short-term debt instruments, cash, and cash equivalents. Generally, money market funds offer low risk compared to other investments and historically lower returns.
Account Owners or their Authorized Representative can set up an investment profile and choose their funds through the online account portal. Click “Accounts” in the top navigation bar. If you have not yet established your investment selections, you will see the “Investment Account Setup” button. Click this button for a step-by-step guide.
Yes, federal rules allow you to change your investment selections two (2) times per calendar year.
Details on ABLEnow investment objectives, guidelines and performance standards are available in the Statement of Investment Policy and Guidelines (pdf).
