Ask Larry

If I Open A Trading Account And Buy Stocks, Are The Stocks Not In My Name?

It’s confusing, if I open a tradings account and buy stocks, are the stocks not on my name and when stocks are aren’t other people buying them? I don’t know how it can be work, I lay in my bed most of the day due to a back injury but with my cell phone I can buy and sell stocks all day, but I can not go anywhere and work from my bed.

Hi. I'm not sure that I'm interpreting your question correctly, but receiving a profit from owning in stocks would not adversely affect Social Security benefits. That type of income is considered unearned, and thus doesn't count for purposes of the Social Security earnings test.

The only type of benefit that Social Security administers that could be affected by ownership in stocks or by receiving income from the sale of stocks is Supplemental Security Income (SSI). SSI is a needs based benefit, so any type of disposable asset or income that a person has or receives can affect their eligibility for SSI benefits.

Best, Jerry

Category: 
Posted: 
May 8 2021 - 9:37am
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