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CAN YOU LIVE ON JUST SOCIAL SECURITY DISABILITY BENEFITS?

I see this question a lot on various websites.  "Can I live on nothing but Social Security disability?"

The answer, obviously, will differ from person to person.  It depends on how much debt you have, whether you own your own home or pay a mortgage and your lifestyle.

Generally, I'd say that most people find it difficult to live comfortably on Social Security benefits alone.  In fact, Social Security was never intended to be sufficient for one's total source of income.

The maximum Social Security Disability Insurance (SSDI) benefit in 2024 is $3,822 per month.  However, the average SSDI benefit is around $1,525 per month.

You can do a little math and see whether those numbers support your budget.  Probably not.

So, living solely on Social Security often requires sacrifice or finding other sources of income.  A beneficiary on SSDI may work while receiving benefits--but gross wages or self-employment income must total less than $1,550 per month (for 2024).  Earning more than that will disqualify an individual for SSDI benefits.  And SSI (Supplemental Security Income) has even stricter income/resource rules.

Common ways to avoid living on just Social Security include:

  • Savings plans where money is regularly saved or invested.
  • Employer sponsored pensions, including 401Ks and other plans.
  • Private disability insurance that can provide income while waiting on Social Security to act on your claim
  

 

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