Discussion » Questions » Legal » Since I get social security and work minimally is it wise to open a separate banking account or have a credit card for a new venture job?
Benedict Arnold

Since I get social security and work minimally is it wise to open a separate banking account or have a credit card for a new venture job?

My present work boss is my payee and it is not bank deposited.

Posted - January 16, 2019
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Responses


  • 17592
    Your Social Security deposit should be the only deposit that goes into that checking account.  Generally that money is safe from bankruptcy and judgments, however, if the account has deposits from other sources your Social Security income may become vulnerable to seizure.  If you are going to pursue other income I recommend opening a second checking account for that.  That is my personal opinion. This post was edited by Thriftymaid at January 17, 2019 6:01 PM MST
      January 16, 2019 7:32 PM MST
    5

  • OH, a silver fox!
      January 17, 2019 10:46 AM MST
    0

  • 1305
    Store it under the floorboards.
      January 17, 2019 3:44 PM MST
    0

  • 34251
    As Thrifty said to have a completely separate account only for your Social Security. SS has special protections from judgments and garnishments etc. 
      January 17, 2019 6:04 PM MST
    0