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SSI: How much income can I have and still collect SSI?

Millions of Americans collect SSI benefits every month, but some wonder if their income will impact their benefits.

blank bank check which shows what people may have in their bank accounts as assets in regard to SSI benefits

It is entirely possible for you to be collecting SSI and have your benefits impacted from another source of income.

Your benefits could be reduced and even stopped entirely.

There are ways to get around it so it doesn’t negatively impact your benefits.


Who can collect SSI benefits?

Those collecting SSI are usually older and or have a disability that doesn’t allow them to work.

The benefits are to help with the cost of living and everyday expenses.

In order to get the benefits, you must show your financial and living situation to be deemed eligible.


SSI and SSDI differences explained

What are the requirements for collecting SSI?

There are income and asset thresholds to qualify for these benefits.

You may not earn over $1,767 per month as income.

Your assets cannot be worth over $2,000.

Your approval is based on your inability to maintain gainful employment.

The most you can collect in 2022 is $841 for individuals or $1,261 for couples.

A couple’s income limit per month is $2,607.


What is not included as an asset for determining SSI?

  • Your home
  • Property your home is on
  • One vehicle used for transportation
  • Household goods and belongings
  • Burial plots or funds
  • A limit of $100,000 in an Achieving a Better Life Experience account

When you surpass the threshold limit for SSI

If your income is over the limit when the SSA is determining your benefits, there are things to consider.

First, it matters if your income is earned or not.

Your state supplementing additional benefits is also taken into consideration.

When you pass a limit your benefits will be reduced or eliminated entirely.

Once your income reaches around $1,750 your benefits will most likely be entirely terminated.


How the ABLE program can help you maintain SSI benefits while working

The income limits set for SSI can be worked around by using an ABLE plan.

These plans are part of the 529 tax code plans and beneficiaries can put extra funds they find in these accounts.

The amount in the account isn’t considered in regard to SSI benefits until it passes $100,000.

Up to $16,000 per year may be deposited.

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