Go Back   NeuroTalk Support Groups > General > Social Security Disability

How much money are you able to have in bank?

Reply
Thread Tools Display Modes
Unread 11-22-2012, 04:54 PM   #1
cybermember
Junior Member
 
Join Date: Nov 2012
Posts: 9
Default How much money are you able to have in bank?

How much money are you able to have in the bank with SSD? I understand SSI has a $2000 limit before red flags get thrown up, but what about SSD? Are there red flags to how much you can have in the bank with SSD?
cybermember is offline   Reply With Quote
Unread 11-22-2012, 07:53 PM   #2
ginnie
Elder
 
Join Date: Aug 2010
Location: Anna Maria Island Florida
Posts: 6,168
My Mood:
Default Hi cyber

I believe it is 2 grand for either of them, I could be wrong. I would like to hear from others about this issue as well. ginnie
ginnie is offline   Reply With Quote
"Thanks for this!" says:
cybermember (11-23-2012)
Unread 11-22-2012, 08:53 PM   #3
echoes long ago
Senior Member
 
echoes long ago's Avatar
 
Join Date: May 2008
Location: new york
Posts: 1,111
My Mood:
Default

ssdi there is no limit to the amount of money you can have in the bank. for ssi its 2,000 in total assets besides one car and your house
echoes long ago is offline   Reply With Quote
"Thanks for this!" says:
cybermember (11-23-2012), ginnie (11-23-2012), StillCrazy (03-12-2013)
Unread 11-22-2012, 11:19 PM   #4
LIT LOVE
Senior Member
 
Join Date: Mar 2010
Posts: 1,442
Default

http://www.disabilitysecrets.com/page7-5.html

The above link is a good explanation of the 2 programs. There are NO asset restrictions for SSDI. SSI is a needs based program for those without enough work credits and is essentially welfare.

For those that are disabled at age 21 or younger, they should consider applying for SSDI on their parents work record since this might be of great benefit when a parent retires or passes away.
LIT LOVE is offline   Reply With Quote
"Thanks for this!" says:
cybermember (11-23-2012), ginnie (11-23-2012), StillCrazy (03-12-2013)
Unread 11-23-2012, 09:46 AM   #5
cybermember
Junior Member
 
Join Date: Nov 2012
Posts: 9
Default

That's good to know about SSDI as I want to save up a good down payment to get a new car in the next 5 years and wasn't too sure if I could keep my money in my bank account or to put it in a safety deposit box. I'm relieved that I can keep it in my account.
cybermember is offline   Reply With Quote
Unread 11-23-2012, 11:57 AM   #6
Mz Migraine
Member
 
Join Date: Mar 2010
Posts: 391
Default

An easier version....

Oprah Winfry & Bill Gates who are both BILLIONAIRES are entitled to collect SSDI if they should ever need it.
Mz Migraine is offline   Reply With Quote
"Thanks for this!" says:
StillCrazy (03-12-2013)
Unread 03-12-2013, 06:33 PM   #7
diaba
Member
 
Join Date: Jan 2008
Location: northern california
Posts: 105
Default

I had never herd of this, does it vary by state? so can you actually be turned down if you have more than 2 K in the bank?
diaba is offline   Reply With Quote
Unread 03-12-2013, 06:41 PM   #8
Jo*mar
Co-Administrator
Community Support Team
 
Jo*mar's Avatar
 
Join Date: Aug 2006
Location: Pacific NW USA
Posts: 19,449
My Mood:
Default

Quote:
Originally Posted by diaba View Post
I had never herd of this, does it vary by state? so can you actually be turned down if you have more than 2 K in the bank?
Which are you asking about, SSI or SSDI?

Gov link with info on both-
https://www.socialsecurity.gov/disability/
__________________
Check the Helpful sticky threads near the top of every forum.
site FAQ's
.
Use the search tool to find information posted in other NT threads & posts
Search link -
.
NT Guidelines
.


.


.
Jo*mar is offline   Reply With Quote
"Thanks for this!" says:
ginnie (03-12-2013)
Unread 03-12-2013, 09:31 PM   #9
Janke
Member
 
Join Date: Sep 2008
Posts: 639
My Mood:
Default

Quote:
Originally Posted by cybermember View Post
How much money are you able to have in the bank with SSD? I understand SSI has a $2000 limit before red flags get thrown up, but what about SSD? Are there red flags to how much you can have in the bank with SSD?
SSI has a $2000 resource limit that includes the cash in your pocket or in your safe deposit box or hidden in your home safe as well as your second or third car, your investments, the cash value of some life insurance policies, all of your non-home real estate, oh, and the money in the bank.

Being over the resource limit for SSI is not a red flag; it means you are ineligible for SSI benefits for as money months as you are over the resource limit and can create tremendously large overpayments.
Janke is offline   Reply With Quote
"Thanks for this!" says:
ginnie (03-12-2013), LIT LOVE (03-13-2013)
Unread 03-12-2013, 09:55 PM   #10
ginnie
Elder
 
Join Date: Aug 2010
Location: Anna Maria Island Florida
Posts: 6,168
My Mood:
Default Dear diaba

Yes it is true. If you get medicare/medicaid, or SSDI you cannot have more than 2k. I lost what two generations saved for, through a trust, given to me to be able to keep my home. I was not allowed to keep those funds, even though it was stated in the trust not to use for medical. My folks had tried to protect me. Could not get benefits until those funds were extinquished. I am now loosing my home because I cannot pay the taxes. Lousy deal. ginnie
ginnie is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
When Medicare is the piggy bank (AP) (Yahoo) NewsBot Health News Headlines 0 09-29-2009 08:20 AM
Irish bank robbery. oldsteve On the Lighter Side 1 12-16-2008 02:24 AM
Self-confidence is money in the bank DocJohn Health News Headlines 0 05-22-2007 11:20 AM
It is your bank account..... bizi Bipolar Disorder 5 10-05-2006 09:20 PM


All times are GMT -5. The time now is 03:04 PM.
Brought to you by the fine folks who publish mental health and psychology information at Psych Central Mental Health Forums

The material on this site is for informational purposes only, and is not a substitute for medical advice, diagnosis or treatment
provided by a qualified health care provider. Always consult your doctor before trying anything you read here.


Powered by vBulletin • Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.


All posts copyright their original authors Community Guidelines Terms of Use Privacy Policy
NeuroTalk Archives