Selling Your House After Retiring? Check this out!
Source:pexels
If you get SSI, selling your house can come with unexpected surprises. Here’s how it really works.
Regular Social Security or Disability?
Your retirement or disability payments stay safe.
Selling your home doesn’t put them on hold.
Source:pexels
SSI Works Differently. Get To Know This First
SSI isn’t like retirement checks.
Extra money from a house sale can pause your support.
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Sold Your House? The 3 Month Rule Kicks In
You’ve got 90 days to use that money for a new home.
Don’t? You might risk losing your SSI, at least for a while.
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Why You Should Watch Your Savings
If your account balance crosses $2,000, your SSI could take a break.
You’ll need to bring it down before payments restart.
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Missed the Window? You Still Have Time!
There’s a year to handle your money and request your SSI back.
But miss that too? You’ll start from scratch.
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Key Takeaway Is To Plan Smart Before Selling
If it’s Social Security, you’re good.
On SSI? A little planning now saves big trouble later.
Source:pexels
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