Income Factors

• To qualify for and continue receiving SSI, a beneficiary must meet income thresholds. Income counted includes wages, Social Security benefits, pensions, food and shelter. However, Social Security does not count all income. Social Security does not count the first $20 of your highest monthly income ,or the first $65 of wages you earn and half the amount over $65 to qualify. Home energy assistance, food stamps and shelter non-profit organizations provide are not counted.
  
  

Your Resources

• To qualify, individuals cannot have resources more than $2,000, and couples cannot have resources more than $3,000. Resources will include bank accounts, savings, investments, real estate and cash. However, Social Security does not count all resources. The house you live in and the land it is on is not counted. In most cases, cars are not counted, although a Lamborghini might be another story. Life insurance policies that value $1,500 or less do not count. You and your spouse may also have $1,500 each set aside for burial funds.
  
  

Working While on SSI

• Individuals on SSI can work and are encouraged to do so if they can. This does not mean Social Security will take away all your benefits. If your income is still limited or you can only manage working part time, you will still receive some or all of your SSI benefits in most cases. Once you start working, however, you must report your earnings to Social Security immediately. The first $65 of wages earned for the month will not count against you; thereafter, Social Security will reduce your benefits by $1 for every $2 you earn.
  
  

In Addition to SSI

• If you are over the age of 62, in addition to SSI you may also receive Social Security benefits if you worked long enough and paid enough into Social Security. For those over the age of 62 on SSI, working might not be the best option, depending on the amount you are entitled to from Social Security.