Today is a good day for millions of United States citizens collecting a Social Security benefit. Regardless of the type of check we have, the Administration could send us up to $4,555 today in a single check so we can use it for whatever we need. While it is true that it is possible to collect a payment of $4,555 this is not for all Americans, but only for those who have maximized the benefit.
Regardless of the amount we are going to get from Social Security, it is mandatory to meet certain requirements. Americans who do not meet the conditions of the eligibility list will not be entitled to receive their retirement payment today. However, disability beneficiaries may also be able to collect this benefit.
What is important in order to be able to collect today’s check is not tied to the type of benefit. What is important in these cases is the information related to the beneficiary. In this sense, both the birthday and the year of retirement are the two key elements to determine to which group of beneficiaries we belong.
In total, the Social Security Administration sends out 4 retirement checks during the month. Today’s payment is the last of the payments the Administration will send out in October and whether or not we get it depends on whether or not we are in retirement group 4. If not, the check should already be in our current account, since it is the last payment and we will not be able to get a new one before the end of the month.
REQUIREMENTS TO GET SOCIAL SECURITY TODAY
To be part of the group of beneficiaries who get their Social Security check today, we need to meet two requirements. However, we must also keep in mind that meeting these two requirements is not enough to get the payment today. If we are in the group of selected beneficiaries, the Administration will send us a check, but we may get it later.
There are two requirements for the Administration to pay us the benefit today. On the one hand, we have to have the Social Security benefit, regardless of whether it is for disability, age or any other reason, since after 1997. On the other hand, it is mandatory that our birthday be between the 21st and 31st of the month. And nothing else, those are the only two requirements for us to get the payment this week.
But in case we want to have the check today we will need to fulfill another requirement. This other requirement is to activate Direct Deposit as a payment method. If we do this, the money will appear instantly in our bank account. If we do not do this we will find that it can take up to 3 days for the money to reach our pocket.
HOW TO INCREASE YOUR RETIREMENT CHECK?
To increase your retirement check, you need to plan well in advance of retirement. The Social Security retirement payment for age depends on three factors: retirement age, years worked and salary as a worker.
If we retire at age 70 after working for 35 years at a high salary, we will get a good benefit. Moreover, it is quite possible that we will be close to the maximum of $4,555 in 2023.
Although it is not necessary to increase the check to the maximum, as we could supplement our Social Security benefit with other benefits such as Supplemental Security Income. Likewise, we can also apply for SNAP Food Stamps to have a little extra money every month.