The Social Security Administration will continue sending direct deposits to millions of retirees in July. However, only some of theses retirees will be able to get $4,873.
The last 2 paydays to receive money from Social Security will be July 17 and July 24. Hence, if you are not eligible for any of these 2 payment dates, you cannot get $4,873 in 24 hours or in 8 days.
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Social Security of $4,873 and eligibility for July 17
If you want to know whether you can get a Social Security payment on July 17, you need to check your birthday. If you were born from the 11th to the 20th, you may receive it on the 17th if you are not on SSI and you did not get retirement benefits before May 1997.
Even if you qualify for the July 17th payment, you may not get such a large payment. Do not forget that to achieve it, you must have been a high earner when you worked.
Delaying retirement as much as possible is mandatory as well. I you did not pay taxes to Social Security when you worked, you cannot get this payment either. The number of years you worked for also matters.
Specific rules to get $4,873 from Social Security
The main thing is you earned the taxable maximum for 35 years or more. Working for just 34 years will prevent you from getting the largest retirement benefit sin 2024.
Apart from that, you must have worked for a minimum of 35 years in jobs covered by the Adminsitration. The less time you work, the lower your payment will be, even if you meet the minimum number of years and qualify for retirement.
Last but not least, it is essential to file for Social Security at the age of 70. If you file at Full Retirement Age, you can only receive up to $3,822, and up to $2,710 at 62.