Investing Limitations

[azam]

I live in Kansas. I was just wondering if investments you make/ the amount of your brokerage account figures in to the $2000 resource limit for SSI. If you knew me, you'd know that I didn't have to win a court case to gain disability, I just know that I'm supposed to report everything. I've never had to, but a recent answer on yahoo states only the amount you make is considered. I think I can make a play with stock options and nothing will affect my situation unless I lose SSI.
Thanks, Jack.

 

[anteater]

Let me see if I have this straight...

You want the taxpayers to subsidize your basic needs so that you can gamble with options?

 

[FlyingRon]

Your brokerage accounts certainly do fit into the $2000.

Stocks, bonds, brokerage accounts, bank accounts, cash, real estate (other than your domicile), motor vehicles beyond one, all figure into it. Cash value of life insurance and personal effects count beyond a floor ($1500/2000 respectively).

SSI is needs based. SSDI is based on your SS contributions without regard to your assets.

 

[Onderzoek]

Absolutely will be considered a resource and since stock options are not a common investment, the paperwork may be confusing to some of the SSI staff. Also, the capital gains and/or the interest may be considered income.

Really bad idea for an SSI recipient to think that they can get 'ahead' and have no effect on SSI benefits. SSI helps those disabled persons who don't have other ways of providing for their food and shelter; to keep them from being hungry and homeless.

Perhaps you could find a way to put the same amount of energy and brainpower to learning a skill or trade that would lead to a job.

Gambling winnings also count as income for SSI. As do inheritances, gifts, pensions, any money from any where.