How does getting a lump sum of money affect my Social Security Benefits?
This topic can be really scary. You know the deal. You’ve busted your butt for weeks and months and maybe YEARs to get your disability benefits. Now, all of sudden, you find yourself in a position where you get a lump sum of money and you don’t know what to do. The lump sum could be anything. It could be an inheritance. It could be a settlement. It could be a gift. How do you determine if you should tell Social Security about the money and what should you do? Here’s a few things to consider: 1) Remember, Social Security is the federal government and the FEDERAL GOVERNMENT ALWAYS FINDS OUT!! WHY?! WHY!? WHY are you going to try and run dirty with the federal government, man?? People don’t realize how many things are connected to their social security number. So if you get a ‘windfall’ (like the lottery, or a settlement, or inheritance), there is a PRETTY good likelihood that this information will be reported to the federal government. The information may be reported for tax purposes but
