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Updated 2 months ago,
Possible to Invest without losing disability benifits?
Hey BP Community,
I've got a friend who is a veteran and asked for my help to get into investing and I'm more than happy to help him out however there a concern that came up. He's on SSDI (Social Security Disability Income) at just under $1,500 a month and he wants to do some wholesales to make some extra income.
Lets say he does a deal or multiple deals and makes any assignment fee on it/them and the profit exceeds 1.5k which is higher than his disability per month. And in fairness, not worth doing if you're not making more than that anyway.
If he does something like this and it exceeds the SGA (Substantial Gainful Activity) limit he would lose his disability right?
I want to help but also don't want him to do something that jeopardizes his income so its a tough situation. I'd appreciate any advice from members who have personal experience with this.
The flip side is he really gets going and just makes more money from real estate than he would ever from disability. He has no safety net so I don't think its wise to take the risk because if he did a deal, lost disability and then since hes brand new to REI lets say it takes a while until he gets his next deal I just want to help advise him best!
All advice is appreciated.
-Josh