Tools and Resources for Your Journey to Financial Independence
Making choices and having options about what you buy, where you live, and what you do with your free time, being able to support yourself with money you earn from a job, not being limited by Social Security disability benefits—all these things are possible when you are financially independent. Would you like to work your way off of cash benefits and be financially independent?
During the July 11, 2012 Ticket to Work: Support Services for People with Disabilities on Their Journey to Financial Independence webinar, participants learned that financial independence is possible! With hard work, planning, education, training, and support from Social Security and other resources, you can have a good job, good career, and a better, self-supporting future.
Take advantage of the resources from the July 11 webinar. They will help you succeed in reaching financial independence!
Ticket to Work and Work Incentives
Work Incentives may allow you to keep some of your cash benefits and to keep your Medicaid or Medicare while you’re working.
Visit www.socialsecurity.gov/work to find your local Employment Network and other Ticket to Work and Work Incentives information
Call the Ticket to Work Help Line: 1-866-968-7842 (V); 1-866-833-2967 (TTY/TDD)
Information on the Plan to Achieve Self Support, or PASS plan
Help Creating a Budget
You need a budget to help you make the best use of your money and to help you reach your goal. For help creating a budget, contact your local Center for Independent Living. For more information, check out:
Opening a Bank Account
Having a savings and a checking account at a bank allows you to access your money.
Bank On programs works with banks and credit unions to make it easier for you to join
Locate a credit union in your area
Additional Financial Independence Tools
Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is a tax credit for low to moderate income workers ages 25–64 or 18-64 with a qualifying child. You can file for it even if you didn’t earn enough to have to file taxes, and you can file for the credit even if the tax year has passed, up to three years back.
Volunteer Income Tax Assistance (VITA) – 1 800-906-9887
American Association of Retired Persons (AARP) – 1-888-227-7669
Individual Development Account (IDA)
An IDA can help you on the journey to financial independence. An IDA is great because it will match every dollar as you’re saving for your goal. Matched amounts start at $1 and up for every dollar you save. IDA programs vary and are not available in all States so be sure to investigate the options available to you in your area.
If you weren’t able to make the live event or wish to review the information, all of our webinars can be downloaded from our webinar library.