Can I invest in stocks while on disability?
- tiescoreLv 53 months ago
If you are referring to SS Disability I believe you are capped at $2,000. There are new savings accounts called ABLE 529s, I'm just learning about:
- JenniferLv 63 months ago
Yes, but ask a financial advisor at the bank.
- JudithLv 73 months ago
If you get social security disability social security doesn't care about stocks, savings accounts or any other resource you could possibly have because SS disability isn't a welfare program. What are you supposed to report? If you had read notices you received from social security you'd know. Since you obviously don't know I suggest you go to their website ssa.gov and find out what the reporting instructions are for someone who receives social security disability benefits. You'll find no mention of stocks on the list.
If you get SSI disability you are entitled as long as your resources don't exceed $2000 if single or $3000 if married. If you receive income from your investments then you are suppose to report it within 10 days of the receipt. SSI stands for supplemental security income and it is a federal welfare program.
If you are talking about some other type of disability benefit then you need to say so. There are lots of different disability programs.Source(s): I was a SS claims rep for 32 yrs.
- A nobodyLv 73 months ago
Legally you can. There are no rules and/or regulations prohibiting you from investing.
However, if the broker/dealer feels you have insufficient income that can stop you from opening a brokerage account with them. But you can always open an account with a mutual fund company, thus giving access to equity securities.Source(s): from THE STREET
- How do you think about the answers? You can sign in to vote the answer.
- JudyLv 73 months ago
- Casey YLv 73 months ago
If you aren't very good at it...sure. If you are good at it...you no longer qualify as disabled for the purpose of working.
Take Stephen Hawking...worked constantly...couldn't really move much of his body...but made money.
- exactdukeLv 73 months ago
I suppose you could. Disability pays enough to take care of your bills, as well as invest??
- JetDocLv 73 months ago
You can do anything you want while you're sucking up the government welfare money. You just can't EARN more than a certain amount every month.
- PearlLv 73 months ago
you need to call social security and ask them this question
- Anonymous3 months ago
depends if its government disability or not. Cannot have tons of assets lying around while collecting government handouts.