There is just one payment left for some eligible retirees and SSDI recipients on June 26. Therefore, it is time to move on to the July payment from Social Security.
Early planning for your monthly budget can help you stretch your Social Security direct deposit or check. The first group of American beneficiaries will be those on Supplemental Security Income. SSI payments will be due on July 1 for all eligible recipients. So, they all share the same payday.
First Social Security payment in July
The first retirees and SSDI recipients to get a monthly payment will be those who are eligible for the July 3 check or direct deposit. SSA requires them to have been on benefits before May 1997.
Another possibility to become eligible for the July 3 payment is to be on SSI and Social Security at the same time. That is, you are collecting both payments simultaneously.
If you do not belong to any of these two groups of recipients, you will collect your Social Security on a Wednesday in July. Starting from the second to the fourth Wednesday.
Social Security will arrive on Wednesdays in July
If you are not eligible for the payments on July 3, you will receive your direct deposit or check on July 10, 17, or 24. Bear in mind that you can only receive one of them.
To get Social Security on any of these Wednesday paydays you must have your birthday on a specific day. For example, your Social Security will be due on July 10 if your birthday is from 1-10. July 17 will be your payday if you were born from 11-20. Therefore, the last payment will be yours if it is from 21-31.
When it comes to amounts, the average check for retirees is $1,915 and for SSDI recipients $1,537. SSI beneficiaries can receive about $698 on average. The largest payment will be for those who can receive $4,873 in retirement.