Can You Have a Savings Account on SSDI?

If you are receiving SSDI, you generally do not have to worry about your savings account affecting your benefits. SSDI is based on your work history and the number of Social Security credits you’ve accumulated. Since SSDI is not need-based, there are no restrictions on the amount of money you can have in a savings account or other assets.

However, you should be aware of the following:

• Income Limits for Work: While there are no asset limits for SSDI recipients, your eligibility for benefits could be affected if you earn above the Substantial Gainful Activity (SGA) threshold. In 2025, the SGA limit for non-blind individuals is $1,470 per month. If your income exceeds this threshold, your benefits may be suspended, even if you have a savings account.
• Reporting Requirements: If you are working and earning income, you must report your wages to the Social Security Administration (SSA), but this doesn’t apply to the balance in your savings account.

Can You Have a Savings Account on SSI?

The rules regarding savings accounts are more restrictive for those receiving SSI benefits, as SSI is a needs-based program. This means that your assets and income must fall below certain limits to maintain eligibility for benefits. As of 2025, the SSI asset limit is $2,000 for individuals and $3,000 for couples.

• Asset Limits: The SSA considers the money in your savings account as part of your total assets. If your savings exceed the SSI asset limit, you may lose your benefits until your savings fall below the threshold.
• Exempt Assets: Some assets are exempt from the SSI asset limit, meaning they don’t count toward the total amount of resources. Exempt assets include:
• Your primary residence
• Personal property (such as clothing or household items)
• One vehicle (if it’s used for transportation)
• Burial plots and certain life insurance policies

If your savings account exceeds the SSI asset limit, you may be required to spend down your savings in order to remain eligible for SSI. However, there are legal ways to save and avoid exceeding the limit, such as setting up an ABLE account or contributing to a special needs trust.

Can You Have an ABLE Account on SSI?

For individuals with disabilities, including those receiving SSI, an ABLE account can be a great way to save money without affecting eligibility. ABLE (Achieving a Better Life Experience) accounts allow individuals to save for specific disability-related expenses without counting against the SSI asset limit.

• ABLE Accounts: Funds in an ABLE account are not counted as part of the SSI asset limit. As of 2025, individuals can save up to $100,000 in an ABLE account without it affecting their SSI eligibility.
• Qualified Expenses: The funds in an ABLE account can be used for qualified disability expenses, including education, housing, healthcare, transportation, and other costs related to living with a disability.

What Happens if You Exceed the Asset Limit?

If your savings account or total assets exceed the SSI asset limit of $2,000 (for an individual) or $3,000 (for a couple), you may:

• Lose SSI Benefits Temporarily: The SSA may stop your benefits until your assets fall below the limit. You may need to spend down your savings or transfer assets into exempt categories, such as your primary residence or an ABLE account, to remain eligible.
• Reapply for SSI: If your benefits are discontinued due to exceeding the asset limit, you can reapply for SSI once your savings fall back below the threshold.
• Contribute to a Special Needs Trust: Another option for people on SSI is to set up a special needs trust. This allows you to place money in the trust for your benefit, which won’t count toward the SSI asset limit.

How Much Can You Save While on Disability?

• SSDI: If you are receiving SSDI, there are no specific asset limits for savings. However, you should be mindful of income limits if you are also working.
• SSI: For SSI, the asset limit is $2,000 for an individual and $3,000 for a couple. Exceeding these limits may disqualify you from benefits.

It’s important to track both your income and assets to ensure you don’t exceed the limits and risk losing your benefits.