and the discussion was started on how much money he was allowed to have in his savings,some people have told him the limit he could have was 2500 dollars and some have told him that there was no cap on his savings.He is worried that if he saves too much money that he will get cut back in his monthly payments. Any one out there on SSD that can help? Thanxs Much!!!!
2006-09-13 14:59:14 · 10 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
And the reason he has the savings is due to his getting that big check from the 6 month wait from the time he first filed for the SSD. The retro pay I would call it.
2006-09-13 15:08:33 · update #1
Yes we will check with social security about it, was just trying to get some "In the meantime" answers for him, he has OCD and will be awake all night worrying about it unless we find an answer he will like!
AHHHHH the joys of the Behavioral Health Field!!!!
2006-09-13 15:24:10 · update #2
Social Security disability(SSD) does not care how much money you have in the bank or in resources. It is based on the money you paid Social Security taxes on-think of it as an insurance. Supplemental Security Income(SSI) is a form of welfare and it does care about savings and resources. It is based on need and age/disability.
2006-09-13 15:05:53 · answer #1 · answered by catzrme 5 · 1⤊ 0⤋
1
2016-10-08 06:22:57 · answer #2 · answered by Wanda 3 · 0⤊ 0⤋
It's my opinion that now you can have as much money in the bank as you want but, this has not been true in the past. You do know though that the best place to find out is from the Social Security Office, that way there is no doubt!
2006-09-13 15:03:05 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Disability has nothing to do with the money would have saved or your assets. The only thing that can affect his status is if he went back to work - then he is no longer disabled. Have him call Social Security and get a clarification is he is worried.
2006-09-13 15:09:13 · answer #4 · answered by kny390 6 · 1⤊ 0⤋
there is a cap, I know for the experience.
call the social security office and they can tell you for sure the right amount. I do not remember the cap amount but the SSD office can help you,
Good Luck
2006-09-13 16:41:53 · answer #5 · answered by ? 6 · 0⤊ 0⤋
I thought it was $1000. But I agree with the others on here, check with social security. I'm thinking there is a "windfall" clause or something....... and it's for those who don't have substantial livable income from any other source.
2006-09-13 15:14:28 · answer #6 · answered by Squirrley Temple 7 · 0⤊ 0⤋
His Social Security is based on more than just savings.
2006-09-13 15:06:09 · answer #7 · answered by JoJoBa 6 · 0⤊ 0⤋
Ah not me but some1 I know keeps extra cash at home witch it's a little dumb but well 2 each their own.
2006-09-13 15:03:14 · answer #8 · answered by Nitemuse 4 · 1⤊ 0⤋
if i were him i would take it all out so no one knows his bussiness, and yes they will cut his check i seen it happen to my sis
2006-09-13 15:03:49 · answer #9 · answered by cc 4 · 1⤊ 0⤋
I'm sorry I don't have a good answer but I'm sick of my tax dollars supporting people who don't need it! Kill him!
JUST KIDDING ... no one is that cold, good luck
2006-09-13 15:03:44 · answer #10 · answered by Anonymous · 1⤊ 1⤋