This is fantastic news for the group of seniors who are eligible for today’s Social Security payment. Money is arriving by direct deposit in most cases. It is possible that some seniors still get checks though, but they may take up to three mailing days.
January 24 is the last payday that Social Security scheduled. Therefore, most retirees have already received their monthly payments. Generally, there are 4 retirement paydays per month.
However, each senior can only be eligible for one of them. To get the January 24 Social Security payment, you must meet the birth date requirement. If you meet it, make sure you did not start receiving benefits before May 1997.
BIRTHDAY REQUIREMENT TO GET THE SOCIAL SECURITY PAYMENT ON JAN. 24
The Administration says that you can qualify for this payment if your birthday is after the 20th and up to the 31st. Therefore, if it is from the 21-31, get ready for your monthly payment.
Do not forget that this Social Security benefit is only for those who filed. If you started getting monthly payments before May 1997, you are not eligible for this payment.
Those who got benefits before May 1997, will collect their next check on February 2. If your birthday is from 1-10, your payment will be due on February 14, 2024. From the 11-20, it will arrive on February 21.
It will take much longer for some Social Security beneficiaries to get their cash in February. If your are eligible for January’s 24 check, you will get your next one in February 28.
THE ADMINISTRATION CONFIRMS THE MAXIMUM AMOUNT AT 62 FOR THE JAN. 24 PAYMENT
Retirees aged 62 can get up to $2,710. However, most seniors do not qualify for such a large check if they file so early. This is because Social Security reduces your payment about 30% at 62.
The average payment for all retired workers is $1,907 in 2024. So, your Social Security check may be even lower than the average payment in 2024. Late filing can be rewarding.
Nevertheless, not all workers can delay retirement till they are 70. Some jobs are physically challenging. So, most of these workers need to file early because they cannot continue working.
Others opt for early filing because they have plenty of investments and savings, so they will not rely on these retirement benefits. Others may be in poor health so, they have no other option but to file. If your check is too low, apply for Supplemental Security Income and SNAP benefits at the same time.
