Social Security is a vital system for millions of people in the United States. Every month, nearly 73 million beneficiaries receive a payment that, in many cases, is their main source of income. Most are retirees, but it also covers people with disabilities and families of deceased workers.
The goal of the program is simple: to guarantee some economic stability to those who have contributed to the system throughout their working lives. But it’s not a random system. Payments are distributed according to a very clear schedule, which depends on your birthdate and the type of benefit you receive.
What you should know about Social Security payments
On the other hand, if you started receiving your retirement before May 1997, you don’t follow this schedule. In that case, you will receive your payment on the third day of each month, regardless of your birthdate.
The exact day you receive your check depends on when you were born. This is how it works:
- If you were born between the 1st and the 10th of any month, your payment arrives on the second Wednesday of the month.
- For those born between the 11th and the 20th, the payment is made on the third Wednesday.
- Those born between the 21st and the 31st receive their check on the fourth Wednesday.
Who will receive their payment on January 15?
On Wednesday, January 15, 2025, it will be the turn of those born between the 11th and the 20th of any month. These individuals will receive a check that already includes the 2.5% increase for the cost of living adjustment (COLA) applied this year.
This adjustment is not something trivial. It aims to offset inflation and ensure that the money maintains its real value. For 2025, the average payment for a retiree is around $1,976 per month, a slight increase from the previous year.
How much can you expect to receive in 2025?
Not all beneficiaries receive the same amount. Payments vary based on your contribution history, your age when applying for the benefit, and other factors. However, the government has published average figures that help provide an idea:
- Individual retirees: between $1,927 and $1,976.
- Older couples where both receive benefits: between $3,014 and $3,089.
- Widow(er) with two children: between $3,669 and $3,761.
- Older widow(er): between $1,788 and $1,832.
- Disabled worker and their family: between $2,757 and $2,826.
- All disabled workers: between $1,542 and $1,580.
These amounts include the 2.5% COLA adjustment, which is key to maintaining the purchasing power of beneficiaries in a fluctuating economic environment.
What factors influence your benefit?
The cost of living adjustment, known as COLA, is just one of the elements that determine how much you receive. Other important factors include:
- Your work history: The more years and money you have contributed, the higher your check will be.
- The age at which you apply for the benefit: If you decide to retire before full retirement age (66 or 67 years, depending on your birthdate), you will receive less each month.
But if you wait until 70, you could get the maximum amount.
- 62 years old: from $2,831.
- 65 years old: from $3,374.
- 66 years old: from $3,795.
- 67 years old: from $4,043.
- 70 years or older: from $5,108.
The longer you wait, the higher your monthly benefit will be, something to consider if your finances allow it.
How to plan your Social Security income
If you’re thinking of retiring soon or have already done so, it’s important to understand exactly how much you’ll receive and how to manage it. The Social Security Administration has online tools to calculate your estimated benefit, based on your work history and retirement age.
Additionally, consulting with a financial advisor can help you make informed decisions. This is especially useful if you’re considering retiring before full retirement age or if you have other supplementary income sources.
Social Security is not just a monthly income. For millions of people, it is an essential support to maintain their quality of life in retirement. Understanding how it works, knowing the adjustments, and planning ahead can make the difference between a tight retirement or a more comfortable one.
If you’re receiving your check this month, remember that it already includes the COLA adjustment, designed to protect you against inflation. And if you’re still planning for your future, take advantage of the available tools and resources to make the best decisions. Your economic well-being deserves all the attention possible.