The Social Security Administration (SSA) is about to send a new payment of up to $4,555. Therefore, there are millions of seniors who are on retirement benefits awaiting this new check.
Although there is a group of beneficiaries who received checks of up to $4,555 on October 2, 2023, there will be three more rounds of payments. In order to be eligible, there are several requirements apart from having filed after May 1997.
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Social Security will send the money to all eligible beneficiaries depending on their birth date. What is more, not all qualify for the largest check. In fact, most seniors get an average check of $1,840 as of August 2023 said SSA.
WHO WILL RECEIVE THE NEXT SOCIAL SECURITY PAYMENT ON OCTOBER 11, 2023?
According to the Social Security Administration, the October 11th check will be for those whose birth date is from the 1st to the 10th of the month. Keep in mind that the last three payments will be on Wednesdays.
These Wednesday checks start coming on the second Wednesday of the month. If your birthday is not at the beginning of the month, you may get your check on one of the next two payments.
October 18, 2023, will be another payday for those on Social Security retirement benefits. In order to cash it, you must have filed after May 1997 and have your birthday from the 11th to the 20th.
The last Social Security check of up to $4,555 will be on October 25th. It will be for those whose birthday is from the 21st to the 31st. As a bonus tip, for those workers who are still in their 20s or 30s, here are three recommendations.
Pay taxes as you work to SSA for a minimum of 35 years. Do not settle for a low income and get the largest payroll possible. Only high-earners can aim at a check worth $4,555.What is more, delay retirement as much as you can. Retirement at 70 gives you a 24% extra.