What amount can I keep in bank if surviving with SS benefits

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PostPosted: Tue Dec 24, 2013 9:23 am   Post subject: What amount can I keep in bank if surviving with SS benefits  

I’m currently on social security disability and I’m trying to save some money. I’ve heard somewhere that there are limits on what amount you can keep there in your bank while you are on disability. I did make a call to the local social security office but I wanted to know as soon as possible. I’d appreciate any feedback.


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cliffpo
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PostPosted: Tue Dec 31, 2013 5:24 am   Post subject:   

Quote:
I’ve heard somewhere that there are limits on what amount you can keep there in your bank while you are on disability.
You've heard wrong. The only time assets are an issue is when you are applying for Medicaid to pay for long-term care expenses. Social Security Disability is entirely unaffected by a person's net worth -- it is based only on one's Primary Insurance Amount and the "inability to perform any substantial gainful activity."


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