The $2,000 SSI resource limit makes saving seem impossible, but there are legal ways to build savings. Here's how to save money while protecting your benefits.
In this article, we'll cover:
- The savings challenge on SSI
- ABLE accounts: Your best option
- Other exempt resources
- Smart saving strategies
1. The Savings Challenge on SSI
The $2,000 limit:
- SSI limits countable resources to $2,000
- $3,000 for couples
- Exceeding this suspends benefits
- Makes traditional saving difficult
What counts:
- Cash
- Bank accounts (checking, savings)
- Stocks and bonds
- Most property
The problem:
- Can't build emergency fund
- No buffer for unexpected expenses
- Stuck living paycheck to paycheck
- One expense can destabilize everything
But there's hope:
- ABLE accounts don't count (up to $100,000)
- Some resources are exempt
- Strategic planning helps
- You have options
2. ABLE Accounts: Your Best Option
What is ABLE:
- Achieving a Better Life Experience account
- Tax-advantaged savings
- Specifically for people with disabilities
- First $100,000 doesn't count for SSI
Key features:
- Contribute up to $18,000/year (2026)
- Funds grow tax-free
- Use for qualified disability expenses
- Doesn't affect SSI (up to $100,000)
Qualified expenses:
- Housing and utilities
- Transportation
- Medical and dental
- Education
- Employment support
- Assistive technology
- Many more
Eligibility:
- Disability onset before age 46
- Receive SSI or SSDI, OR
- Meet SSA disability criteria, OR
- Self-certify disability
How to open:
- Choose a state ABLE program
- Don't have to use your state
- Compare fees and features
- Most have online applications
Important: ABLE is the single most powerful savings tool for SSI recipients. If you're eligible, open one.
3. Other Exempt Resources
Your home:
- Primary residence doesn't count
- Any value
- Must be where you live
- Home equity not counted
One vehicle:
- Usually fully excluded
- For transportation
- Any value (in most cases)
- Only one vehicle exempt
Household goods:
- Furniture
- Appliances
- Personal effects
- Clothing
Burial funds:
- Up to $1,500 set aside for burial
- Plus burial plot
- Must be designated
- Can't be used for other purposes
PASS accounts:
- Plan to Achieve Self-Support
- Set aside for work goals
- Doesn't count for SSI
- Must be SSA-approved
Property for self-support:
- Property essential to self-employment
- Tools of the trade
- Equipment needed for work
- Must be actively used
4. Smart Saving Strategies
Use ABLE first:
- Direct deposit to ABLE
- Build savings there
- Keep checking low
Time your spending:
- Pay bills before the 1st
- Make necessary purchases
- Keep checking under $2,000 by the 1st
- Excess goes to ABLE
Prepay expenses:
- Rent (if landlord allows)
- Insurance premiums
- Medical expenses
- Reduces checking balance
Convert to exempt resources:
- Buy exempt items when you have extra money
- Household goods you need
- Vehicle improvements
- Home repairs
Build burial fund:
- Set aside up to $1,500
- Designate in writing
- Doesn't count toward limit
- Provides peace of mind
Managing Day-to-Day
Track your balance:
- Know where you stand always
- Check before the 1st
- Use tools that track for you
- Build in a buffer
Automate carefully:
- Set up ABLE contributions
- Schedule bills strategically
- Don't let balance grow unchecked
- Review regularly
Have a plan:
- Know what you'll do if you go over
- Have spend-down options ready
- Don't panic
- Stay organized
How Purple Helps
Purple makes SSI saving easier:
- Real-time balance tracking
- ABLE account integration
- Alerts before the 1st
- Easy transfers to ABLE
- Clear view of your finances