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Financial Analysis Help Needed Re Social Security Disability
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<blockquote data-quote="DDD" data-source="post: 555209" data-attributes="member: 35"><p>He is not allowed to have over $2000 saved at any time after he has spent his distribution. The SS counselor stressed that and then kinda laughed and said if you own a mansion and a BMW that's aok (smile/chuckle) as your house and your car are exempt from the asset rules. I'm really leaning to upping the price level of the house, getting a doable mortgage instead of aiming for payoff and buying a newer more dependable car.</p><p></p><p>If the house and car are paid for then the only expenses he would have would be electric (150 oe less) water (50 or less) real estate taxes and home insurance (150 or less) and home maintenance which would be minimal. All medical would be covered as he has Medicare and Medicaid including pharmacy. TV, internet and phone likely would be 150</p><p>a month too. IF he gets food stamps he's be saving more than allowed pdq.</p><p></p><p>He did laugh when I told him "as a taxpayer who still works I agree with the government....you don't need over a grand a month plus benefits" you and other disabled people deserve support but not more discretionary income than I have working full time in my old age. He got a big grin and said "it is more than I expected". This is stressful.</p><p>Furthermore I think that if we croak and leave him a few grand he'll have to account for it. on the other hand maybe he could put the money as a payment against the home mortgage balance.</p><p></p><p>Why do I get analytical at two or three in the AM on work nights?? Yikes I have birthday company coming next week and have to get the house clean. Sigh. Night...oops....Morning. DDD</p></blockquote><p></p>
[QUOTE="DDD, post: 555209, member: 35"] He is not allowed to have over $2000 saved at any time after he has spent his distribution. The SS counselor stressed that and then kinda laughed and said if you own a mansion and a BMW that's aok (smile/chuckle) as your house and your car are exempt from the asset rules. I'm really leaning to upping the price level of the house, getting a doable mortgage instead of aiming for payoff and buying a newer more dependable car. If the house and car are paid for then the only expenses he would have would be electric (150 oe less) water (50 or less) real estate taxes and home insurance (150 or less) and home maintenance which would be minimal. All medical would be covered as he has Medicare and Medicaid including pharmacy. TV, internet and phone likely would be 150 a month too. IF he gets food stamps he's be saving more than allowed pdq. He did laugh when I told him "as a taxpayer who still works I agree with the government....you don't need over a grand a month plus benefits" you and other disabled people deserve support but not more discretionary income than I have working full time in my old age. He got a big grin and said "it is more than I expected". This is stressful. Furthermore I think that if we croak and leave him a few grand he'll have to account for it. on the other hand maybe he could put the money as a payment against the home mortgage balance. Why do I get analytical at two or three in the AM on work nights?? Yikes I have birthday company coming next week and have to get the house clean. Sigh. Night...oops....Morning. DDD [/QUOTE]
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Financial Analysis Help Needed Re Social Security Disability
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