Spent my lunch hour researching ABLE accounts with ChatGPT4. Overall positive experience (I sanity-checked the results). Some interesting findings:

The average annual maintenance fee for ABLE accounts, considering a range of states, is approximately $42.67. This is based on the fees of several states, which generally range from $35 to $60.

NJ’s program offers ZERO tax incentives for NJ residents.

Virginia’s ABLEnow has no opening fee and waives the monthly fee if you maintain a $10k balance.

Accessing funds is an important feature, Virginia’s ABLEnow program has a debit card as well as no monthly fees.

The ABLEnow program offers several investment options for account holders:

Aggressive Growth Portfolio: This portfolio invests entirely in the Vanguard LifeStrategy Growth Fund. It primarily allocates its assets to common stocks (about 80%) and bonds (about 20%), making it suitable for account holders with a higher risk tolerance​​.

Moderate Growth Portfolio: This portfolio is invested in the Vanguard LifeStrategy Moderate Growth Fund. The allocation here is approximately 60% in common stocks and 40% in bonds, offering a balance between growth and income​​.

Conservative Income Portfolio: This portfolio focuses on the Vanguard LifeStrategy Income Fund. It is more conservative, with about 80% of its assets in bonds and 20% in common stocks, catering to those who prefer lower risk​​.

Money Market Portfolio: This option invests in the Fidelity Investments Money Market Government Portfolio. It’s a very low-risk option, with at least 99.5% of the fund’s total assets in cash, U.S. Government securities, and fully collateralized repurchase agreements​​.