AboutLouis Schwarz, QFP, CFP®, RFC®. ChFEBC Expertise Over 36 years experience - discretionary investment management, advisory service, stocks, bonds, mutual funds, annuities, IRA, Roth, 403(b), 401k, tax planning, tax preparation, retirement planning, tax reduction, life insurances. I hold five professional designations: QFP, CFP, RFC, ChFEBC, and Paladin Registered Advisor with a professional rating of five stars.
Experience First deaf Certified Financial Planner licensee (http://www.cfpboard.org/), General Securities Registered Representative (Series 7)(http://www/finra.org), Registered Financial Consultant (http://www.iarfc.org/), Registered Investment Advisor, Qualified Financial Planner (http://www.iaqfp.org/), Admitted to Paladin Registry of Personal Financial Advisors (http://www.paladinregistry.com/); Chartered Federal Employee Benefits Consultant (http://www.chfebc.com/); Licensed Life, Health, & Disability Agent
Organizations Financial Planning Association, International Association of Registered Financial Consultants, National Association of Deaf, Alexander G. Bell Association of the Deaf, National Deaf Business Institute
Education/Credentials Gallaudet University, College for Financial Planning
Awards and Honors Who's Who in Finance and Industry, Who's Who in the World, NAD Flying Fingers Award, MDAD Distinguished Award, MCAD Business of Year, Montgomery (MD) County Business Award, 2007 Outstanding Business Person of the Year, Gallaudet University Department of Business
Question I thought but correct me if i am wrong but i thought there were certain accounts like money market accounts that didnt have to be included as income.
Any tips or suggestions will be appreciated.
Thanks in advance.
Answer Dear Sallie
For SSI purposes, a "resource" is cash or other liquid assets and any other real or personal property that an individual owns and could convert to cash to obtain support and maintenance. Among typical liquid resources are: savings and checking accounts; stocks; bonds; mutual funds; promissory notes; and certain types of life insurance (with a cash surrender value, which the individual owns). Typical non-liquid resources are those which cannot be converted to cash within 20 working days, to include both real and personal property. Equity value is the price for which an item can reasonably be expected to sell on the open market in the particular geographic area minus any encumbrances.
