The Social Security Administration is about to send United States beneficiaries a new check in the amount of $4,555 maximum. This check is only for the first of the group of retirees collecting a benefit. In order to get the check, a condition must be met. That condition is for the Social Security Administration to send the check, but if we want to get it as soon as possible we must meet an extra requirement.
Regardless of the type of benefit we have, we can get the new Social Security payment. However, it is necessary to meet the established requirements. But the type of benefit is not a requirement, so we find that those who are retired due to disability, age or some other type of condition can still receive the payment.
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In this sense, we must only comply with the mandatory requirement, which is related to the personal information of the benefit of each Social Security beneficiary. In this way, we should not have a specific type of benefit. This is good, since the first of the November payments will be very important for millions of Americans who are waiting to get the new payment.
WHO WILL GET THE NEW SOCIAL SECURITY RETIREMENT CHECK?
There is only one mandatory requirement that must be met in order to get this new retirement check. That requirement is to have a benefit since after 1997. There is no other mandatory requirement for the Administration to send us the check on the next payment day.
The specific day will be November 3rd. And even though the Social Security Administration sends the check on that day, the payment will not arrive on the same day to all Americans. In order to collect the payment on that particular day, it is necessary to activate Direct Deposit.
Any American who has not activated this payment method will be able to cash the check, but not on the same day. It may take up to 3 days for the money to reach the beneficiary’s bank account without Direct Deposit. The money will still arrive, but it will take some time.
HOW TO MAXIMIZE THE RETIREMENT CHECK?
There are ways to maximize the Social Security check. However, we need to have not applied for a check in order to have a larger monthly payment. In this regard, before we retire we must maximize three items. By doing this we will have options to reach the maximum $4,555 in 2023.
In order to achieve this goal we have to take into account the following aspects:
- Retirement age.
- Years worked.
- Salary as a worker.
If our goal is to get the highest possible check we must delay the retirement age as much as possible. The minimum is 62 years old, but we can wait until 67 or 70 before requesting check.
As for the years worked and the salary during those years, the best is to work a minimum of 35 years with a good salary. This will ensure a good benefit. While it is true that not all citizens can reach the $4,555 maximum Social Security benefit, it is possible to come close.