Ask Larry

Supplemental Security Income

Can I Give Away Assets And Be Safe?

As far as it goes with cryptocurrency and ssi benefits. I bought all my crypto with stimulus checks and wonder how things works regard to that. I don't want to lose my ssi check over some assets that were available at the time. Would i be able to give away the assets and be safe? What should i do in this situation?

Posted: 
Friday, September 10, 2021 - 09:34

If I Receive SSI How Much Time Do I Have After Receiving An Inheritance To Spend It On A Home?

How much time do I have after receiving inheritance on SSI do I have to spend the inheritance on a home?

Hi. To clarify for other readers, an inheritance wouldn't affect Social Security benefits but could affect Supplemental Security Income (SSI) payments. SSI is a needs based benefit administered by the Social Security Administration.

Posted: 
Wednesday, August 18, 2021 - 13:11

What Are My Options?

Hi, Larry, I’m 75 years young in 1993 Iwas working on a traffic detail. I was struck in the head by the cherry picker. I lost everything job security not to mention being disabled at 50. Add constant pain and a complete change in life style. That said when ?I applied for SS I don’t know if the agent was having a bad day or what, but he never offered SSI my tax man told me about a year ago that I should be on SSI. I have not worked ever again. I receive $500. A month minus Medicare payment. Thank God I’m alive. I was left with a brain injury. What are my options? Thanks Ed.

Posted: 
Monday, August 16, 2021 - 14:44

Is It True That My Grandson Can't Receive Money From Both CPS And SSI?

I have just taken in two grandchildren 2 and 3. I am getting paid by CPS an amount each month. My grandson was on SSI monies until placed in our home. We have not received any SSI money. I was told we can not get CPS money and SSI money. Is this c true? What other monies might I be eligible for. The grandson has just had open-heart surgery and still has severe issues. Thank you. I have a second question. The mother is receiving all stimulus monies and filed children on her income tax and we have had children over a year.

Posted: 
Monday, August 9, 2021 - 13:19

Is It Correct That My SSI Will Go Away When I Start Receiving Social Security Retirement Benefits?

I am on SSI, I get $794 a month. I am turning 62 in September, 2021 as I was born in 1959 so a couple months away! I want to apply for early retirement! I assume the SSI will go away at that point as I will receive approx. $1575 a month then? Is this correct? Also when I go to apply for retirement on the IRS website to I state that I am on SSI, Disabled or what?
I don't want to make any costly mistakes when I am filling out the retirement application!

Thank you,

David

Posted: 
Saturday, July 24, 2021 - 15:27

Will Applying For Food Stamps For My Brother Reduce His SSI Benefits?

My mother who was paying a portion of all the bills in my home recently moved out to help improve her mental health. since she has moved out my younger brother still lives with me & my grandfather. my mother receives SSI benefits & foodstamps for my brother, and originally when i applied for food stamps i got declined. my mother is willing to take my brother off her foodstamp benefits so i can apply for them again with him included in my household, but will doing so affect his SSI benefits?

Posted: 
Tuesday, July 13, 2021 - 12:53

Why Is Social Security Forcing My To Take A Different Benefit?

I've been on SSI because I have congestive heart failure since I've been about 56 57 years old I just turned 62 March 24th and they told me I have to come off of SSI and go on disability Social Security which I make $1,099 a month they told me that I have to renew my disability every 6 months that ridiculous to me why why put me through all of this my heart can't take this kind of stuff that the way they treat me down there I don't know if I should be on a different program or why not just give me disability when I hit 65 then transfer me over I don't understand it

Posted: 
Thursday, May 27, 2021 - 10:20

Can I Sell My House And Buy A House Out Of State If I'm On SSI?

I am on disability SSI can I sell my house? And buy a house out of state?

Hi. You could potentially sell your home and continue to receive Supplemental Security Income (SSI) as long as you use the proceeds to pay for a new home within 3 months of receiving the funds (https://secure.ssa.gov/apps10/poms.nsf/lnx/0501130110). The rules for SSI are tricky, though, so you should probably discuss your plans in advance with an SSI technical expert at Social Security.

Best, Jerry

Posted: 
Thursday, May 27, 2021 - 10:05
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.
$40 Annual Household License
$299 Annual Financial Advisor License