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South Carolina Business Review

Tax-advantaged savings plans for those with disabilities

By Mike Switzer
Published July 28, 2022 at 5:30 AM EDT
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For many people with disabilities, saving money can be a difficult task. Yet if they’re able to, many then worry about saving too much money because it may cause them to lose their needs-based benefits. Fortunately, there is help. August is the national observance of ABLE to Save Month. Mike Switzer interviews Curtis Loftis, South Carolina’s state treasurer, about the Palmetto ABLE Savings Program.

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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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