Payments are coming soon. If you did not qualify for the round of Social Security checks on November 3, you may then get your payment in the upcoming weeks.
It will be next week when the first checks will be ready if you get your Social Security on the second, third, or fourth Wednesday of the month. So, if you are not on Supplemental Security Income and did not receive benefits before May 1997, one of these checks will be yours.
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But first, you need to make sure that your birth date is the same as the one that makes you eligible for your monthly payment. Otherwise, you may have to wait for one or two more weeks after the November 8 payday.
Who can collect a payment of up to $4,555 on November 8?
If you are on Social Security after or in May 1997 and your birthday is from the 1st to the 10th, your check will arrive on November 8. Although the maximum amount is $4,555, the average payment is about $1,891 as of September 2023 said SSA.
Remember that the more money you made as a worker, the more you will receive in retirement up to a limit. November 15 will be the next payment on the third Wednesday of the month.
Seniors whose birthday is from the 11th to the 20th will cash their monthly Social Security payment on November 15. The amounts are also the same as in the previous retirement checks.
The payments in November do not include the 2024 COLA increase. Otherwise, the average payment would be almost $1,900 and the largest check for 2024 would be $4,873.
Finally, those who did not qualify for the November 8 or 15 check, will receive their money on November 22. Of course, to be eligible your birthday must fall within the right bracket.
Having your birthday from the 21st to the 31st will make you eligible if you filed after May 1997 and got the application accepted. If you have not filed for benefit yet, you should know that early retirement reduces your monthly payments.
Therefore, you should make sure that you can afford to retire at 62. Retirement at the age of 70 will give you a 24% extra every month, which could be awesome but you will have to work for three more years after 67.