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+--- Thread: Is someone allowed to invest in the stock market if they are on disability? (social security)? (/thread-6990.html)
Is someone allowed to invest in the stock market if they are on disability? (social security)? - giganticfuel772 - 10-12-2012 08:44 AM
Just curious... is it illegal? What can they do?
I was just wondering if the government would cease giving money to you because you found a way to make money on THEIR money.. I was just curious
Im not on disability so if my question comes across as dumb then that's why.
- Hay - 10-12-2012 08:52 AM
if you have money you can invest in any thing.
- Common Sense - 10-12-2012 08:52 AM
What a strange question. Why wouldn't they?
- Scott1120 - 10-12-2012 08:52 AM
As long as you are of legal age in the state where you live, the answer is yes. If you are underage you can have an adult open up a custodial account for you.
- Caveat Emptor - 10-12-2012 08:52 AM
Why would you think it is illegal?
- zuma - 10-12-2012 08:52 AM
It changes fairly often, but you can make up to around $13,000.00 annually without effecting your rate of SSI.
- A Nobody - 10-12-2012 08:52 AM
Income or the lack of it is not a criteria for investing in the stock market. Therefore it is not illegal for someone on SSI to have a brokerage account.
When opening an account you will have to disclose your source of income.
However, you may have to report andy income that you receive from your investments if SSI sends you a questionnaire or does a periodic review on your sources of income. This review could effect your SSI payments
Bottom line - it's not illegal for someone on SSI to have an investment/trading account but SSI may have problems with your investment income.