The question of whether an Individual Retirement Account (IRA) counts against food stamps eligibility is a common one. The Supplemental Nutrition Assistance Program (SNAP), commonly known as food stamps, is a federal program that provides food assistance to low-income individuals and families. IRAs are tax-advantaged accounts that allow individuals to save for retirement.
The good news is that, in general, IRAs do not count against food stamps eligibility. This is because IRAs are considered retirement savings, and they are not counted as income or assets when determining eligibility for SNAP benefits. However, there are some exceptions to this rule. For example, if you withdraw money from your IRA before you reach the age of 59, the withdrawal may be counted as income, which could affect your SNAP eligibility.
