Financial education and asset development are critical to improving the economic self-sufficiency of all workers and may be especially important for people with disabilities. Learning how to stretch wages further, invest wisely, avoid debt, and plan for retirement is essential to avoiding the poverty level income connected with most disability benefit programs, such as Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI). Several work and tax incentives exist to reduce disability- and work-related costs, such as medical expenses or reasonable job accommodations. Some work incentives can even be used to provide capital for disabled people interested in starting their own business.

The following resources provide more information about work and tax incentives, financial education, and asset development:

Secure Your Financial Future: A Toolkit for Individuals with Disabilities

The Securing Your Financial Future Toolkit was developed by ODEP and the Employee Benefits Security Administration (EBSA). The toolkit guides people with disabilities to strive for or maintain employment and achieve financial stability. Organized around five stages of the employment lifecycle, the toolkit provides best practices and resources to address common financial concerns during each stage. So, whether you are preparing for a job, starting a job, maintaining a job, changing or losing a job, or even planning for retirement, this toolkit has resources for you. 

Toolkit Spotlight

  • What are my Housing Options? — This resource, available in English, Spanish, and Simplified Chinese, is a helpful tool designed to assist disabled individuals considering their housing options to make informed decisions.
  • Aligning My Career Path with My Earning Needs — This manual, available in English, Spanish, and Simplified Chinese helps people with disabilities answer questions like: how much money do I need to earn to pay my bills and meet my financial goals? Answering these questions can help align career path with earning needs.
  • Frequently Asked Questions (FAQs): Social Security Administration, SSI and SSDI — Are you wondering if you can work and receive social security benefits? These FAQs provide people with disabilities and their families an overview on social security benefits and answers common questions about these benefits and employment.
  • These blogs highlight how people with disabilities are using the toolkit to either prepare and maintain employment or to explore other employment opportunities.

Achieving A Better Life Experience (ABLE)

ABLE accounts(link is external) are tax-advantaged savings and investment accounts for people with disabilities. They have been a game changer for many disabled people who want to work and save for the future without concerns about asset limits. The ABLE account owner is the person with the disability. The account owner, their family and friends, their employer and their Special Needs Trust (SNT) may contribute funds into the account. ABLE account owners – both those who do and do not receive public benefits – may save for qualified disability expenses related to transportation, health care, housing, education, retirement, and more.

ABLE Resources

Workforce System and Bank Partnerships: Community Reinvestment Act (CRA)

The CRA is a law passed in 1977 that encourages banks to conduct activities and make investments to benefit low- and moderate-income individuals and neighborhoods, including workforce development-related activities for disabled people. The CRA can be leveraged to provide financial coaching, financial assistance for entrepreneurs, workforce training, credit assistance, career preparation, and other activities.

Financial Empowerment through the Workforce Innovation and Opportunity Act (WIOA)

Youth participants and adult job seekers with and without disabilities under WIOA may be eligible to receive financial literacy education. WIOA supports the financial empowerment of people with disabilities and the right to manage their own money and benefits responsibly. There are many opportunities to integrate financial empowerment in workforce development programs.

Leveraging WIOA

  • Financial Literacy FAQs Under WIOA — View responses to questions that support better understanding of the definition of financial literacy under WIOA, who can receive services, how services may be delivered and national resources to support local efforts.
  • Integrating Financial Capability and Asset Building Strategies into the Public Workforce Development System — AJCs are uniquely positioned to extend the promise of financial stability to prospective job seekers and workers with disabilities by serving as a bridge to accurate information, resources and successful strategies to assist in improving one’s financial capability. This paper describes some of the replicable models that AJCs have established to provide financial capability services.

Additional Resources for Financial Empowerment