62-year-olds may receive a new Social Security payment on July 17. However, some retirees may not receive this payment because they do not meet all the requirements, so they need to wait for next week’s payment.
To get money from the Administration on the 17th, apart from being on retirement benefits after April 30, 1997, and not getting SSI benefits, you must have been born from the 11th to the 20th.
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Retirees aged 62 getting Social Security next week
Regardless of the amount you may receive from the Administration, you may qualify for a new payment next week. The main requirements are the following ones:
- Not being on Supplemental Security Income (SSI)
- Not being on Social Security before May 1997
- Being born from the 21st to the 31st to get a payment on July 24.
Therefore, if you meet all the aforementioned requirements you will get a payment of up to $2,710 if you are 62 years old. If you are older and meet the requirements, you may also be eligible for an average check of $1,918, a lower or higher payment.
Social Security of $2,710 & eligibility
Remember that 62-year-olds can receive an average payment of about $1,315. However, some high earners may qualify for the maximum amounts if they meet all the conditions Social Security set.
To get $2,710, you must file at 62, earn the taxable maximum for 35 years, work for the same number of years, and have jobs covered by the Social Security Administration. That is, you can only be eligible if you meet all of them.
Before you file, if you are still working, you should know that early filing means getting 30% less. Delaying retirement can imply receiving 24% extra per month. Hence, it is of vital importance to reflect on it before you get retirement benefits. Inflation, a high cost of living, medical expenses and other hidden costs may leave you broke in retirement so make a wise decision.