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Can someone invest Social Security Disability monies?
We will be receiving a lump sum and monthly payments from Social Security Disability. Can some of that money be invested into an IRA, CD, High Yield Savings, etc?
5 Answers
- Anonymous1 decade agoFavorite Answer
If you are collecting social security disability, based on your work history, you can do anything you like with the money. If you are collecting SSI disability, you have to keep you savings under a certain limit and really wouldn't be able to invest anything.
- vitelloLv 45 years ago
while you're drawing SSI then the respond is in all probability. while you're drawing SSDI, then no it won't. That being suggested, whether you're drawing SSI, you and your husband ought to spend the money on homestead advancements, new automobile, or different authorized purchases. while you're in waiting for somebody passing away sooner or later then i could propose searching for a have confidence lawyer that ought to draft an irrevocable have confidence to homestead the inheritance so as that it does not influence your SSI money.
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- ?Lv 41 decade ago
I think you can put it in a IRA account. To put it in a regular account could count againist you.