Why Assets Matter

It's hard to think about building assets for the future when you get public benefits and don't have much income. Furthermore, programs like Supplemental Security Income (SSI) and Kentucky Transitional Assistance Program (K-TAP) have resource limits that make it hard to save money.

However, there are ways of building your assets, even if you get public benefits and have low income.

Building your assets means saving up money or making investments by putting money in the bank, buying stocks, putting money into a retirement account, or buying a home. It’s important to build your assets, because assets help you:

• Become financially secure and more independent
• Deal with unexpected expenses that may come up, and
• Achieve your goals, like paying for school, going on vacation, buying a computer, starting a business, or owning a home.

Financial Literacy

"Financial literacy" means having a general understanding of how to manage your money. Over time, financial literacy can help you do big things, like pay for college, buy a house, or have money during old age. It can also help you stay away from scams and be ready for unexpected expenses and difficult life events.

Financial literacy is especially important for people with disabilities, because they often:

• Spend more on everyday activities
• Have high medical costs, and
• Get public benefits that have rules and restrictions about money and assets.