How much money can I have in the bank while receiving Social Security disability?

CONTACT: LinerLegal.com (216) 282-1773 THE BOTTOM LINE: Disability Attorney Michael Liner wants to give you the bottom line on disability benefits. Today’s Topic: How much money can I have in the bank while receiving Social Security disability? Katie Nobles: Hi, I am Katie Nobles Michael Liner: And I'm disability attorney Michael Liner. And Katie Nobles: You're watching the bottom line. Today's topic, how much money can I have in the bank while receiving Social Security Disability? Michael Liner: Great question, Katie. And the answer is, it's, it's very important that you know which type of disability benefit that you're receiving. There's two types two primary types of disability benefits that people receive. There's SSD benefits, which are based on a person's work history and having paid into social security. And that's an earned entitlement. And then there's ss, SSI benefits, which stands for supplemental Security Income Benefits. Essentially, SSI is a welfare benefit for people who are unable to work and it doesn't require that you've ever worked before. Now, the reason that it's important you know, which type of disability benefit you're receiving is the rules are different. If you're receiving SSD benefits, it does not matter at all how much money you have in the bank, what type of assets you have, you know stocks, bonds, whatever it is, does not matter. Michael Liner: You could be the wealthiest person in the world. On the other hand, and, and I already touched on this a little bit because SSI benefits, it's essentially a welfare benefit. It's a needs-based benefit. The most amount of money that you can have in the bank if you're a single individual is $2,000. If you're a partner and a married couple, you can have up to $3,000. So the amounts are really low and people are shocked to find out they haven't changed those figures since 1974, I believe, since the Nixon administration. But you know, so just to kind of sum it up, again, it's important to know which type of disability benefit you're receiving. 'cause That determines which how much you can have in the bank while receiving disability benefits. Alright, Katie Nobles: Thank you so much for answering that question, Michael. And remember, if you have any questions, you can drop it here in the comments or you can submit that on our website. That is linerlegal.com.