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I received a letter in the mail that says that I could get…

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I received a letter...

I received a letter in the mail that says that I could get Supplemental Security income. Im not sure what this means.

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I am already on Social Security> And have been for 5 years.

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

I don't know what to ask

Submitted: 11 months ago.Category: Social Security
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Answered in 12 minutes by:
9/19/2017
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 11 months ago
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,874
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

Supplemental Security Income is a program that is strictly need-based, according to income and assets, and is funded by general fund taxes (not from the Social Security trust fund). SSI is called a "means-tested program," meaning it has nothing to do with work history, but strictly with financial need. To meet the SSI income requirements, you must have less than $2,000 in assets (or $3,000 for a couple) and a very limited income.

...

It applies both to the disabled and those over age 65

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Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 11 months ago

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I hope that you’ll rate me based on my accuracy and thoroughness, rather than any good news/bad news content.

That’s the only way JustAnswer.com will compensate me for the work here.

Thanks,

Lane

HI, MY NAME’S LANE - I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986

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Lane, JD,CFP, MBA, CRPS
Category: Social Security
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