Financial Literacy Month Wrap Up
April is Financial Literacy Month, and a great time to get your personal finances on track.
The California State Treasurer’s Office is home to three programs that can make a great difference in the financial well-being of Californians. One program helps families save for college. Another helps private sector workers save for retirement. And a third enables people will disabilities to save money without worrying about running afoul of federal rules that cap disability income.
It’s never too late – or too early – to start saving for future! CalSavers provides access to a retirement savings account through one’s workplace. Employees can opt in to participate in the program and use a simple investment menu and standard savings option based on one’s age or retirement goal. Participating employees contribute to their CalSavers account through regular payroll contributions.
For more information, please visit www.CalSavers.com.
CalABLE allows any individual with a disability that occurred before age 26 to open a tax-advantaged savings and investment account. The program was specifically designed to empower people with disabilities to achieve financial independence. Whether you’re a working individual with a disability, or a parent wanting to put money away for the future of a child with a disability, CalABLE can help you plan for a successful financial future.
For more information, please visit www.CalABLE.ca.gov.
ScholareShare 529 is California’s official college savings plan. The program offers families a diverse set of investment options, low fees, tax-deferred growth, and withdrawals that are free from state and federal taxes when used for qualifying higher education expenses.
Now through December 31, 2019, ScholarShare 529 also is offering eligible families who open a new account a dollar-for-dollar match up to $200. An additional $25 match is possible by establishing a monthly automatic contribution of $25 or more.
For more information, please visit http://www.mgp.scholarshare.com/.