The $100,000 Savings Account That Doesn’t Count Against Your Benefits
- Purple
- May 30
- 2 min read
Updated: Jul 8
If you’re on SSI, you’ve probably heard the rule: don’t save more than $2,000 or you could lose your benefits. But here’s what most people don’t realize — there’s a legal way to save far more without risking your disability income.
It’s called an ABLE account. And it could be the key to long-term financial stability.
Why the $2,000 Limit Matters
SSI (Supplemental Security Income) has a strict asset limit. If you have more than:
$2,000 in your name (or $3,000 for a couple),
your benefits can be suspended or terminated — even if the money is needed for essentials like rent, medical care, or transportation.
This limit hasn’t changed since 1989. It keeps people with disabilities in poverty and punishes saving.
The ABLE Account Loophole
Congress created ABLE accounts to fix this problem. If you became disabled before age 26, you may qualify for one.
An ABLE account lets you:
Save up to $100,000 without affecting SSI
Spend on everyday needs — housing, food, transit, education, and more
Control the money yourself
Grow savings tax-free, like a Roth IRA
It’s one of the few tools that lets people with disabilities build a safety net — without navigating complicated trusts or losing their benefits.
How to Open an ABLE Account
Every state either runs or partners with an ABLE program. Some are better than others when it comes to fees, investment options, and online access.
But finding the right one — and setting it up correctly — can be confusing, especially if you’ve never done it before.
That’s where Purple comes in.
How Purple Helps
Purple is building a new kind of ABLE experience — one that’s integrated with your checking account and built to keep you safe.
With Purple, you’ll soon be able to:
Open and manage your ABLE account directly in the app
Automatically move extra funds into ABLE savings
Track your balance to stay under the SSI limit
Receive Social Security disability benefits, which may arrive up to 4 days early¹
Get other direct deposits, like paychecks, which may arrive up to 2 days early¹
Get started today at withpurple.com
Purple is a financial technology company, not a bank. Banking services are provided by OMB Bank, Member FDIC. The Purple Mastercard® Debit Card is issued by OMB Bank, Member FDIC, pursuant to license from Mastercard.
¹ Early access is not guaranteed, depends on payer timing, and standard processing times may apply. We generally make funds available on the day we receive the payment file, which may be up to 4 days early for government benefits like SSI or SSDI, and up to 2 days early for other deposits. Early access is available at no additional cost.