Blue Monday cannot bring American retirees down. This is because they will soon receive a new payment with a COLA boost if eligible. Apart from getting extra money in about 2 days, there are a few things you can do to cheer you up.
Needless to say, it is freezing outdoors in many States. So to get away from the Blue Monday feeling you can think about your next payment and the things you can do with it.
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Do not forget to eat healthy food, sleep for at least 8 hours, and exercise even if it is indoors. If the weather is not bad, it would be ideal to meet family or friends to get out of the Blue Monday routine.
PAYMENT ELIGIBILITY IN ABOUT 48 HOURS
There is only one group of retirees who can receive this Social Security benefits on January 17. The first requirement has to do with the date you filed for Social Security benefits.
For example, if you filed before May 1997, you are not eligible for this payment. It is only for those who filed from May 1997 onward. Apart from that, your birthday must be on certain days.
The days your birthday must fall to match the requirements are from the 11th to the 20th. Therefore, if your birth date is on any of these days, you will be eligible for the January 17 payment.
Do not worry if you have not qualified for any of these payments in January. There is one last chance to cash your money in about 9 days. It will be on January 24 when Social Security will send the last retirement check in January.
CAN ANYONE ELSE QUALIFY FOR A CHECK ON JANUARY 17?
The Social Security Administration has scheduled SSDI (disability benefits) for the same day too. Therefore, if you are on SSDI you may receive your check on this day if you meet the aforementioned requirements.
As for the amounts for these retirement payments, it will depend on your previous work and earnings history. The age you filed for retirement benefits may also affect your benefits.
The maximum amount a person can get is $4,873 in 2024. This is only possible if you have filed at the age of 70 and earned the taxable maximum for 35 years. Lower payments are possible when you file at 62. It can be up to $2,710 at 62.
At Full Retirement Age, the maximum payment is worth $3,822. Average checks for retirees are worth $1,907 in January 2024. So, retirees will get about 59 dollars extra per month after the 2024 COLA. SSDI checks can be about $1,537 on average.