Millions of retirees and people with a disability collect a monthly payment from the Social Security Administration every year. Actually, there are more than 71 million beneficiaries.
Therefore, it is of vital importance to know when your money will be in your pocket. More and more Americans rely on benefits, so a payment worth up to $3,822 will be more than welcome.
As a matter of fact, there are two payments left in January. If you did not collect your money on January 3 or January 10, you may then qualify for one of the 2 upcoming checks.
PAYMENT ELIGIBILITY IF YOU ARE A RETIREE OR SSDI BENEFICIARY
To get a payment from Social Security on January 17, you must meet 2 conditions. Of course, if you received your Social Security on January 3 or January 10, you will not be eligible.
Therefore, it will be for those who filed from May 1997 onward and have their birthday from the 11th to the 20th. Congratulations if you are in that situation because the sooner you receive your money, the better.
Inflation and soaring prices are making it a real challenge to afford all the necessary expenses in the United States, Especially, if you are a senior or have a disability since their payments may be lower.
The last payment in January will be yours if your birthday is from the 21st to the 31st. So, if your birth date matches that range, you may receive your Social Security retirement or SSDI check on January 24, 2024.
SOCIAL SECURITY AMOUNTS FOR RETIREES AND SSDI RECIPIENTS IN JANUARY
The largest payment for a person on Social Security Disability Insurance is $3,822. That is the same maximum amount for a retiree who files at Full Retirement Age in 2024.
To get such a large payment you must have achieved the taxable maximum for 35 years, apart from filing at Full Retirement Age. Thus, very few Americans qualify for so much money.
Average payments are $1,907 for retirees and $1,537 for SSDI recipients. In order to get Social Security you must have worked and paid taxes to SSA. For example, to get benefits you must have worked for at least 10 years.
That may allow you to be eligible if you have gotten 40 work credits, but your payment may be too low. Getting more money is possible by getting well-paid jobs for 35 years. For your information, these payments will include the COLA boost. So, you can get an average increase worth 50 dollars.