I'm 19 years old, I live with my parents, and I'm medically disabled to the point that I an unable to work enough hours to support myself. Currently I'm applying for SSI benefits. I have some questions about how it works and what I can expect in the future if I'm able to live by myself. I apologize if these questions seem obvious; I don't know much about personal finance.
Can I take out a personal loan and slowly pay it back using the money I receive from SSI? Does this loan count towards my asset limit? Are there certain things I can't take out a loan for?
Is it realistic to think that I would be able to afford grocery, utility, insurance and other necessary payments while paying a mortgage and a car loan?
Does SSI come with health insurance? Will it cover everything I need? Will it be accepted by most hospitals?
If I get married and my spouse (who is not disabled) is also put under the asset limit, can he still work full time? Is there a limit to how much salary he can earn?
And lastly, if I make a mistake and end up with more than the limit in assets and am no longer eligible for SSI benefits, would I have to apply for disability again once the limit is no longer broken? Will I be permanently ineligible?
Thank you.
Read more: Can I live independently on SSI?
