The last payment for millions of American retirees in July is approaching. Social Security will send payments of up to $4,873 on July 24, 2024. However, the amount you can receive depends on your background.
Remember that you will not receive this payment if you are on Supplemental Security Income. In that case, you will get Social Security on August 2. Those on benefits before May 1997 will not get money either on July 24, August 2 will also be their next payday.
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Who gets Social Security on July 24?
July 24 will be your payday if you started collecting retirement benefits after April 30, 1997, and meet the birthday requirement. This condition requires retired workers to have been born from the 21st to the 31st.
Apart from retirees, those on Social Security Disability Insurance who meet the same requirements as stated before can get money on July 24 too. Keep in mind that they share paydays.
As for the average payments, retirees can receive about $1,918. If you have just worked for the minimum number of years, ten, you may get a much lower payment. On the contrary, high earners may receive up to $2,710 if they filed at 62, up to $3,822 if they filed at FRA, and up to $4,873 at 70.
Social Security Payments after July 24
If you are not eligible for the benefit payments on July 24, you could get SSI on August 1 and August 30. August 2 will be payday for those on SSI and Social Security at the same time.
But also for those on benefits before May 1997. After those payment dates, there will be 3 rounds of Wednesday payments. Retirees can receive money on August 14, 21 and 28.
These payments will be for those who were born from the 1st to the 10th (Aug. 14), from the 11th to the 20th, (Aug. 21), and the last one for those whose birthdays are from the 21st to the 31st.