Retirees with birthdays between the 11th and 20th of any month will have the opportunity to receive a new Social Security check in as little as one week. United States citizens who meet this requirement will be able to enjoy their check for up to $4,558 from Social Security retirement pensions. In order to receive this cheque we will not need to do more than meet the birthday requirement.
In addition to that, it is also mandatory to have received the retirement benefit acceptance. This requirement seems silly, but it is not, because without an accepted benefit we will not be able to collect the cheque on the next Social Security payment day. To be exact, the Administration will send out the next check on the 15th day of March 2023. This means that in just one week retirees with this type of benefit will be able to enjoy their new check.
Even though the Social Security Administration sends out the check on the 15th of March, many pensioners will not receive it until a little later. This is due to the method of payment chosen. If the chosen method of payment is by bank deposit, the retiree may have to wait up to 3 days to receive the monthly check.
How can I receive my next Social Security payment immediately?
There is only one method to receive Social Security money immediately. To do so, we must activate Direct Deposit. This method of collection assures us to have the check at the same instant that the Administration sends it to the retirees. It is a fast and secure method, since the seniors will be able to enjoy any SSA benefit instantly.
As mentioned above, if we do not activate Direct Deposit, the other method of payment is by bank deposit. This method is also safe and efficient, but a little slower. Not all beneficiaries who receive their checks through a bank account take 3 days to receive them, as the time depends on the bank itself.
Therefore, if we wish to receive the Social Security money immediately, it is best to activate the Direct Deposit service. This method assures us that the check will be deposited in our account instantly and will arrive safely.
Maximizing your pension check
The maximum Social Security check in 2023 is $4,558. To reach that figure we will need to plan our retirement well in advance. We need to maximize three concepts:
- Retirement age. The later we apply for the retirement benefit, the higher it will be.
- Years worked. Working a minimum of 35 years is essential if we want to have a good Social Security check.
- Salary as a worker. The higher the salary, the more taxes we will pay. This means we will be a better taxpayer. So we will have a bigger Social Security check.
However, it is advisable not to focus on Social Security as the only source of retirement income. We should always look for another source of income in order to have the best golden years possible.
We should invest in stocks, bonds and mutual funds. We should also take into account the risk associated with such investments before making any decisions. Additionally, we can look for other sources of income such as rental property or second jobs.