Does having a Roth IRA prevent chances to get Supplemental Security Income (SSI)?

Asked 4 years ago

I am 52 and hope to retire in 20 years unless I lose my job. Right now, I don't need cash, but it will be needed one day. My son is 11-years-old, has a disability, and may need Supplemental Security Income (SSI) when he becomes an adult. I've already started putting money into an Able plan for him, but I would love to open a Roth IRA. However, I'm not sure if it would prevent his chances to get SSI if it is ever needed? TIA

Supplemental security income (ssi)Roth ira

Andia Rispah Igobwa

Thursday, June 24, 2021

Having a Roth IRA can make it hard to get Supplemental Security Income.
Why? Even if you don't work full time, when Social Security Administration rechecks your financial situation, it will work against you. 
Receiving SSI comes with strict rules on your assets.