A new payment arrives in the United States on January 10. However, this will not be the only one this month. Actually, it is the second time seniors in America receive a check this month.
After the January 3 payment, it is time for other eligible seniors in retirement to get their money. Remember that this check is only for those retirees who did not start collecting checks before May 1997.
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Besides, they must also meet another condition. In this way, all seniors get their payment in a timely order. Retirees aged 65 or older can no longer wait for their money, but some will have to wait for up to 2 weeks to receive it.
ELIGIBLE SENIORS AGED 65 OR OLDER FOR THE JANUARY 10 PAYMENT
If you began collecting retirement benefits from May 1997 onward and your birthday is from the 1st to the 10th, you will receive a new check today. So, those seniors aged 65 or older who meet these 2 conditions should check their bank accounts today.
It is true that if you are 62 years old or older, you may also obtain a payment today. However, the amount of your check will be much lower. This is because the Social Security Administration reduces your check if you file early.
For example, the largest Social Security retirement check at 70 is $4,873 in 2024. If you decide to file at Full Retirement Age in 2024, your payment could be up to $3,822.
Another possibility is to start collecting Social Security retirement payments at 62. Nevertheless, your check will be up to $2,710. Early retirement may mean getting 30% less, while late retirement provides you with a 24% reward per month.
OTHER UPCOMING CHECKS FOR SENIORS AGED 62 TO 65 OR OLDER
The Social Security Administration has confirmed that there are 2 payments left in January. After today’s check, American seniors can collect a new one on January 17.
Again, you will have to meet the birthday requirement. If you have not filed for retirement benefits, you are not eligible for any payment in January though. So, make sure you apply for benefits first.
Those whose birthday is from 11-20 will get their money on January 17. As for the maximum amounts, they are the same as the January 10 or January 24 payment. Average payments are also the same for all paydays.
In fact, seniors can get average payments worth $1,907 in 2024. Hence, they are 3.2% more than in 2023. The last check will be due on January 24 for those whose birth date is from 21-31.