Great news because there are millions of Americans who are about to cash a new monthly payment. It is true that there have already been two checks on January 3 and January 10, but there are two left in the United States.
Retirees can only receive one retirement payment per month, although some may qualify for Supplemental Security Income at the same time. The Social Security Administration has scheduled a new check for January 17.
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However, there will be another payment on January 24, so this will not be the last check in January. To get any of these checks you must have filed first for Social Security.
WHO CAN RECEIVE $4,873 ON JANUARY 17 AND 24?
Bear in mind that such a large payment is only for those who meet the three Social Security requirements. The first one is that they must have filed at the age of 70.
Therefore, if you are about to file for Social Security payments and you are not 70 years old, forget about getting so much money if you meet the other 2 conditions.
The second requirement is the retiree must have worked for a minimum of 35 years. Not doing so will always reduce the amount of your check. Last, but not least, retirees must have been high earners.
Hence, only those workers who have worked for 35 years, earned the taxable maximum all this time, and filed at the age of 70 can be eligible for a payment worth $4,873 in 2024.
WHO IS ELIGIBLE FOR A PAYMENT ON JANUARY 17?
There is only one possibility to cash money on January 17 if you are a retiree. The thing is you must have received benefits from May 1997 onward and your birthday is from 11-20.
Thus, if your birthday is from 1-10, you got your check last week. You will receive your payment next week if your birth date is from 21-31. In this case, your check will be due on January 24.
As for the average payments, retirees can get about $1,907 in January 2024. After the COLA boost all seniors will receive a 3.2% more per month. That is about 59 dollars on average.
Do not forget that if you have not filed yet, you may still have time to enlarge your checks. Delay retirement until you are 70 to cash up to 24% more per month. Early retirement means saying goodbye to 30% of your check.