What Assets Can I Own on Social Security Disablity?

Social Security Administration (SSA) provides two types of payments for disabled individuals: Social Security disability benefits for individuals with a sufficient work history and Supplemental Security Income (SSI) disability payments for individuals without a sufficient work history. Social Security disability does not have any specific asset limits. However, SSI disability has strict asset limits that must be met to receive payments. For SSI, the total value of your assets may not exceed $2,000 if you are single or $3,000 if you are married.

Land

• Any land that you own counts towards your asset limit with one exception: if a house that is your primary residency resides on the land, the value of the land does not count towards your asset limit.

Houses

• Houses count towards your asset limit with one exception: the house that you live in, if it is your primary residency, does not count towards your asset limit.

Vehicles

• You are allowed one vehicle, if it is the primary mode of transportation, that does not count towards your asset limit. Any additional vehicles count towards your asset limit.

Cash & Bank Accounts

• Cash on hand, money in bank accounts, cash-value life insurance policies, IRAs, stocks, bonds and other cash-value resources count towards your asset limit. As long as these items and the rest of your assets do not exceed your asset limit, you may continue to receive SSI payments.