I am on Social Security Disability. Is there a limit on

Question

the amount of cash savings you are allowed to have in the bank? I am single, worried about my future and need to start saving. Thanks for your help.

Answer 1

A car and $2000.00 before they take away your Medicare, or Medicle insurance

Answer 2

I find your question very interesting. I am on SSD as well.I imagine you could call your local SS office and ask that question. I will do that myself tomorrow.

   Good Luck !

Answer 3

I think you are confusing SSD with Supplemental Security Income.  

SSI makes monthly payments to people who have low income and few resources and are:

Age 65 or older;

Blind; or

Disabled.

Whether you can get SSI depends on your income and resources (the things you own).

The things you own also include a savings account,

The Social Security and Supplemental Security Income disability programs are the largest of several Federal programs that provide assistance to people with disabilities. While these two programs are different in many ways, both are administered by the Social Security Administration and only individuals who have a disability and meet medical criteria may qualify for benefits under either program.

Social Security Disability Insurance pays benefits to you and certain members of your family if you are "insured," meaning that you worked long enough and paid Social Security taxes.

Supplemental Security Income pays benefits based on financial need. You can get more information by viewing the below web sites.