Social Security (SSI)

The second type of benefits that an indvidal can get from social security is Supplimental Security Income (SSI). The disadvantage to SSI is that you need to have worked 40 quarters to be eligible for these benefits. The rules are almost the same as SSD but their is more of an emphasis on you current income and net worth. It is important to note that one car and one home are "exempt" in most cases when determinig net worth. Therefore if you have a good deal of assets in some "investment", it might be wise to invest that money in your house or a new car before applying. Always wanted hardwood floors? It's a good time to put them in. Money from SSI is intended to help indviduals get through life who have paid into the system who are over the age of 65 or disabled. This money is intented to pay for daily living expenses for those who generally make less that $2,000 monthly as an individual or $3,000 with their spouse. This money differs from SSD which is intended to pay medical bills and expenses to accomidate a medical condition. The surest way to be denied SSI is to not have paid into the system for 10 years, after that, if you qualify finacially and qualify for SSD, you will most surely qualify for SSI. Good luck with your claims...please feel free to post any questions you may have in the comments.