Luke Buczynski- Financial Professional

When families begin planning for a loved one with special needs, the first question is often, Where do we start? A helpful starting point is to identify the people involved, the benefits currently being received, the legal documents already in place, and the financial resources that may support the plan. From there, the family can begin to see what is complete, what may need attention, and which professionals should be involved. Progress usually begins with organization, not perfection.

An ABLE account can help an eligible person with a disability save and pay for qualified disability expenses while maintaining access to certain public benefits. It is not the same as a Special Needs Trust, and the two tools may serve different purposes within the same plan. Families should understand who controls the account, what expenses qualify, how contributions work, and how the account fits with the rest of the plan. The IRS provides a helpful overview of ABLE accounts here:

ABLE accounts - Tax benefit for people with disabilities | Internal Revenue Service The Achieving a Better Life Experience (ABLE) Act permits a state to establish and maintain a new type of tax-advantaged savings program (under Section 529A of the Internal Revenue Code) for a qualified disabled person.

Being from the Baltimore area has made building relationships throughout Maryland especially meaningful to me.

Whether I am meeting with a family, helping with a community event, or speaking with a local organization, I want people to feel comfortable asking questions that may have been sitting on their minds for years.

Financial topics can feel overwhelming when they are filled with unfamiliar terms. Sometimes the best place to start is simply having a conversation and figuring out which questions need to be answered first.

Before your next financial conversation, take a few minutes to write down the questions you actually want answered. What income will I have each month in retirement? Who is listed as the beneficiary on each of my accounts and policies? What would happen financially if I became sick or could no longer work? Does my family know where my important documents are located? You do not need to understand every financial term before meeting with someone. A clear list of questions is often the best place to start. The purpose of the conversation should be to leave with more clarity than you had when you walked in.

An annuity is not automatically right or wrong for everyone. It is a financial product that may serve a specific purpose depending on the person and the contract.

Some people consider an annuity because they want predictable income. Others may be focused on protecting a portion of their retirement savings from market losses.

Before making any decision, it is important to understand the fees, surrender period, income features, access to your money, and what the contract does not provide.

If someone cannot explain those details clearly, it is reasonable to keep asking questions.

Investor.gov offers additional information for anyone who wants to understand the basics:

Annuities | Investor.gov -investor-content > article > div.node__content.main > div.layout.layout--threecol-25-50-25 > div.layout__region.layout__region--second {width: 70% !important;} What are annuities?An annuity is a contract between you and an insurance company that is designed to meet retirement and other long-t...

Many people prepare for retirement by focusing on how much they have saved. That is important, but it is only part of the picture.

It is also worth understanding where your retirement income will come from and how those different sources may be taxed. Social Security, pensions, retirement accounts, and other income sources may not all be treated the same way.

You do not need to have every answer today. The important thing is to start asking these questions before retirement, while you still have time to explore your options.

Had a great time representing Special Needs Funding Coach this past weekend at the Frederick County Public Schools Resource Fair!

Big thank you to everyone who helped coordinate such an amazing event. It’s truly an honor not only to be invited as a vendor, but also to be asked to speak in a breakout session on helping families plan financially for their loved ones’ futures.

Really appreciate all the conversations throughout the day and looking forward to staying connected.