Tax-Advantaged Savings Accounts for the Disabled

By Mike Switzer

Published November 15, 2016 at 5:26 AM EST

Last year our state adopted a little-known federal law that helps individuals with disabilities by allowing them to establish a tax-advantaged savings account to assist them in maintaining their health, independence, and quality of life.

Mike Switzer interviews Cheryl Holland, a certified financial planner and founder of Abacus Planning Group in Columbia, SC.

Resources: SC ABLE, ABLE National Resource Center

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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