Asset Limits

Your assets are very minimal with SSI. The rationale of this is that you have SSI as a needs based program. Therefore, there are limits in what you’re allowed to have. These limits are as follows:

  • 1 primary residence
  • 1 automobile
  • $2,000 combined of the following
    • Checking Accounts
    • Savings Accounts
    • Stocks and funds
    • Cash on Hand
  • A state supported ABLE account (max $100,000)

Primary Residence

You are allowed one residence as long as you are living in it, and not collecting income from it (such as renting a room). Theoretically, this house can be of any value, but realistically, you should only have a house that is valued at 5 times your annual income (or 3 times if getting a mortgage). If your property taxes is more than $2,000 – you will need an Able Account.


You are allowed one automobile that is your primary vehicle. You aren’t allowed two, even if the second one is non-functioning. You would have to get rid of the non-functioning car within 30 days of getting the functioning automobile.


You’re are allowed $2,000 in cash, stocks, or investments. If you go over that, you threaten your SSI benefits. This is a hard rule, and there is nothing you can do with exception of a state supported ABLE account. I will get to that later in this page. $2,000 does not sound like a lot of money, and you would be correct. The minimal amount of resources is a limit because SSI is a needs based program. They figured if you have access to a lot of resources, then you don’t need them. If you were to go into the stock market, and bought $500 in stocks, but a month later – your $500 turns into $2,001 – you will threaten your SSI. It is that simple, and anyone that tells you different is either lying or mistaken. Social Security is very strong on this stand.

ABLE Account

You are allowed up to $100,000 in a ABLE account. An ABLE account is limited in how you can use it. You are allowed to use your ABLE account for housing expenses, vehicle expenses, medical expenses, and education. You are technically not allowed to use the ABLE account to buy a television. If you do, that would be counted as “income”, and will be considered by Social Security in regards to asset limits. Therefore, the ABLE account is not intended to act as a loophole for your asset limits.

Most likely for you to get anywhere near $100,000 in an ABLE account will require contribution from family and friends. However, if you are getting this money on a regular basis, you should have a plan on how to handle this money. There are rules on what you can and can not do with an ABLE account. Check with the resource to learn more.