The Social Security Administration‘s payment schedule follows the usual pattern. This means that in the next few weeks, retirees in the United States who have not yet cashed their check will be able to receive their retirement. There are still 2 more Social Security checks to come to citizens, so if you are part of these groups you will soon have your money.
The most important thing in these cases is always to know on what day we will receive the payment. This is known by knowing which group we belong to. Each group of Social Security retirees receives their benefit on a different day. Despite what many Americans think, the day of payment is not determined by the type of retirement.
This means that it does not matter whether our Social Security retirement check is age-based or disability-based. It also doesn’t matter if the check is for survivor, child or any other reason. The important thing in these cases is to have the Social Security benefit accepted in advance and to be eligible to receive it.
Who will receive the next Social Security check?
The group that receives the next Social Security Administration payment has very specific characteristics. First of all, in order to receive this payment, it is mandatory to be retired after 1997. If our retirement is after that year we already have 50% of the requirements fulfilled.
After this requirement, it is mandatory to fulfill another one. This is due to the fact that retirees retired after 1997 are paid on three different days of the month. This is the second, third and fourth Wednesday of each month. In this case we are dealing with the third Wednesday of the month. Therefore, the other requirement for this benefit is to have a birthday between the 11th and 20th of the month.
How to increase my retirement check?
It is possible to increase your retirement check if you have not yet applied for it. If we have already started collecting our Social Security, it is quite possible that we cannot increase it. However, remember that each year the retirement checks increase a little bit through COLA.
In order to get a good retirement check, three things need to be considered. Maximizing these three aspects must be our priority if what we want is to achieve at least a good benefit.
The three aspects to take into account are the retirement age, the years worked and the salary during those years. On the one hand, the retirement age can be from 62 to 70 years old. The later we apply for the check, the better benefit we will have. If we want to retire at 62, we must say goodbye to 30% of our check.
The other two elements are totally linked. Having a large salary while working for at least 35 years is the key to good Social Security. If we work less than 35 years we will see a huge reduction in our benefit. So it is advisable to work as many years as possible before applying for retirement.