Nakia Vargas, of Vargas Financial Services, believes that the more educated people with disabilities and their families are about their budgets, the better off they are. Her firm offers Tax Preparation, Financial Coaching, Debt/Credit Counseling and Financial Literacy Presentations, all at reasonable prices.
Nakia points out that Pooled Trusts are an effective way to save for the future for people who don’t have a lot of resources. A Pooled Trust is a type of special needs trust that is managed by nonprofit organizations. These nonprofit organizations pool the money from multiple families and invest it. Each beneficiary still has their own separate account and their own trustee, chosen by the nonprofit organization. These appointed trustees even purchase things for the beneficiary, just like a trustee appointed by the family or the court would. If you are having a hard time coming up with someone who would be a good fit as a trustee, a pooled trust may be something to consider.

Nakia says that people with disabilities who have a strong circle of support can benefit greatly from Self-Direction. Self-Direction gives people with disabilities the chance to choose their own services so they can live the life they want. Self-direction can help to manage and plan finances better by subsidizing certain expenses such as housing or transportation. Self-direction also allows payment of budget items which helps free up money for other areas of life. Some of these items might include classes, memberships, or club participation.

To contact Nakia, Vargas Financial Services, 1401 Stone Road, Suite 304, Rochester, NY 14615; 585-355-4290