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It should effect your ability to get on Social Security Disability as you must disclose all your assets/money. It will be considered income/asset if you take any money out of your 401K. Iif you do not properly disclose this extra money you will be penalized by SSD. Buying a boat would not fall under their "residential needs" category but more likely a luxury item. You could opt to buy a smaller house instead of a boat. Boats are notorious for basically being "a hole in the ocean that you dump lots of money into" in the form of upkeep, maintenance, etc. and they depreciate versus appreciate. Rotting hulls cost a lot to repair. I was a yacht broker back in the late 1970's so I would definitely steer you away from any boat ownership if you are going to be living on a fixed income. A house does not sink due to a rotted hull. Please keep that in mind when you are choosing your new residence. For instance, if the boat costs you $100 you would be spending at least several thousand dollars or more per year on upkeep alone to keep the boat afloat. If it has an engine figure in expensive engine repairs. Also where are you going to dock your boat should you get one? If at a marina get ready to pay big bucks per month to just park your boat in their water. Even if you had free dockage, you still need the boat dry docked every so often for hull scraping, painting and repairs. Sounds romantic, but unless you have plenty of cash to throw around every month you will literally have your boat end up at the bottom of the lake/ocean/river wherever.
Boat ownership is really not for people on fixed incomes. It is for rich people or someone who has lots of disposable monthly income to properly maintain.
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