Author: Deborah Goodkin, Managing Director, Savings Plans, First National Bank of Omaha
Since founding the Enable Savings Plan, our goal has been to provide individuals with disabilities and their families with a reliable and easy-to-use savings option. To support this mission, Enable offers a host of relevant and simple tools that Account Owners can use to optimize their savings experience.
Read on for an overview of the benefits of saving with Enable to help you better manage your account.
Preschedule Account Contributions
Prescheduling contributions allows for a hands-off yet consistent approach to savings, meaning that Account Owners can focus on engaging with their other responsibilities while remaining assured that their finances are taken care of. An Automatic Investment Plan (AIP) is a great option to consider for all Enable Account Owners and you can set it up to occur on any day or month to fit your savings schedule. You may also consider prescheduling account contributions with payroll direct deposit, which sends a previously determined portion of your paycheck directly to the designated account.
Tip: Anyone, not just the Account Owner, can preschedule account contributions—from family and friends to a trust, estate, partnership, association, company or a corporation. Learn more here.
Encourage Friends and Family to Join
As we head into the holiday season, encourage loved ones to give the gift of savings through one of Enable's two gifting options: gift certificate contributions and Ugift.
Ugift is a free online gifting service that allows friends and family to make account contributions via checks or electronic transfer. Gift givers don’t have to join or pay a service fee to use the platform, and no additional account information is needed to complete the transaction.
Gift certificate contributions are another great option that loved ones can use year-round. Gift givers can fill out and mail a contribution coupon to Enable, and then download and print a card from Enablesavings.com to give to the account beneficiary for the occasion. More information about gifting can be found here.
Tip: Keep in mind that annual contributions to a single account, from any source, cannot exceed a total sum of $15,000 per calendar year.*
Maximize Your Investment
Enable offers five Investment Options so that you can tailor your savings strategy to your specific goals and circumstances. Account Owners can choose among Enable's three Target-Risk Investment Options (Growth, Moderate, Conservative), the Bank Savings Investment Option and the Checking Investment Option. The latter two options are FDIC-insured.
Keep in mind that managing your savings is a personal journey, so the combination of Investment Options that works best for you might be different from what works for others. Additionally, what meets your savings criteria now may be different down the road. Make sure that you frequently check in on the progress of your account, as well as any changes in personal circumstances, in order to confirm that you’re maximizing your investment.
Tip: Investment Options can be changed up to two times per calendar year.
Saving with Enable allows you to put yourself and your future first. By following these tips and the information on EnableSavings.com, you can better manage your account. If you have any additional questions regarding your account or these Enable tools, please contact the Enable team at 1-844-362-2534 or via email at firstname.lastname@example.org.
*Certain employed Account Owners may exceed the Annual Contribution Limit by the lesser of (a) the compensation included in the Account Owner’s gross income for the taxable year, or (b) the federal poverty line for a one-person household as determined for the calendar year preceding the calendar year in which the taxable year begins.