Ask Larry

Can My Social Security Be Taken Away If I Sell My House?

If i sell my house and receive money for it can my social security be taken away

Hi. No. Selling your home would have absolutely no effect on your benefits provided that you are receiving Social Security benefits. However, if you are receiving Supplemental Security Income (SSI), those benefits could stop if you sell your home. Unlike Social Security benefits, SSI benefits are needs based. Therefore, changes in a person's income and/or resources can affect their eligibility for SSI benefits.

Best, Jerry

Category: 
Posted: 
Jan 7 2022 - 3:57pm
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