Posted by JT-IN on January 12, 2004 at 14:37:50:
This is not what your 70 something folks are receiving…
Their social security income should not be limited by any earnings that you pay them, as this shouldn’t be any different than them owning a stock or bond, really. I haven’t been able to locate the perameters of this yet, and have to leave for an appt, but will attempt to do so later.
Hope this little bit of info helps…
JT-IN
Need advice on investor with special circumstances - Posted by mark
Posted by mark on January 11, 2004 at 22:37:11:
I have an investor willing to invest money into my deals but they are on social security and I do not want to jepardize there social security benefits being effected because of the profits that they will receive from each deal. Does anyone have suggestions on how to handle such a situation. Thanks for any comments.
SSI or Retirement Benefits…? - Posted by JT-IN
Posted by JT-IN on January 11, 2004 at 22:50:36:
There is quite a difference and one may be jeopardized while the ohter may not.
What is the age of the party…?
With this info we can tell whether there is a reason for concern or not…
Re: SSI or Retirement Benefits…? - Posted by mark
Posted by mark on January 11, 2004 at 23:15:14:
Sorry about the lack of information. They are mid 70’s and they are drawing a combination of retirement from a job and ssi.
SSI is Supplemental Security Inc - Posted by JT-IN
Posted by JT-IN on January 12, 2004 at 14:38:19:
Supplemental Security Income (SSI) is a cash assistance program funded and administered by the Federal Government. The program is authorized by Title XVI (Supplemental Security Income for the Aged, Blind, and Disabled) of the Social Security Act.
Beginning in January 1974, SSI replaced the Federal/State matching grant program of adult assistance to the aged, blind, and disabled. Under SSI, there is no minimum age limit for establishing eligibility based on blindness or disability.
This is not what your 70 something folks are receiving…
Their social security income should not be limited by any earnings that you pay them, as this shouldn’t be any different than them owning a stock or bond, really. I haven’t been able to locate the perameters of this yet, and have to leave for an appt, but will attempt to do so later.
Hope this little bit of info helps…
JT-IN