Only a specific group of United States Social Security beneficiaries can get this payment for retirees. The payment will arrive in less than a week and meeting a couple of requirements is essential to get it. Even so, the payment will be sent by the Social Security Administration on a specific day. But whether or not you get it on that day depends on another important aspect.
In a nutshell, the Social Security Administration sends a total of 4 different checks to the retirees. In addition to that, it also sends an extra Supplemental Security Income check. But the important thing in these cases is to get a retirement payment and only group 3 beneficiaries will be able to do that.
In this regard, there are two mandatory requirements and one optional. The mandatory requirements determine which group of retirees we belong to. The optional requirement determines whether we will get exactly the payment from Social Security on the same day of mailing or a little later.
How to get the $4,873 payment for retirees?
As we have already mentioned, there are two requirements for retirees who want to get this new Social Security benefit. On the one hand, it is mandatory to have the retirement benefit since after 1997. Specifically, as of May of that year.
On the other hand, the second mandatory requirement is to have a birthday between the 11th and 20th of the month. This is the only way to obtain the payment for the next February 21st, 2024. Similarly, the amount of $4,873 is the maximum, but not all retirees get this high check.
The third requirement we talked about earlier is related to the collection method chosen. If we choose Direct Deposit as the collection method, the money will appear directly on the same day February 21st. If not, the payment will appear a few days later.
Can I increase my Social Security benefit?
To tell you the truth, it is impossible to increase your Social Security payment once you apply to the government. The payment depends on your work history as well as your year of retirement.
But we can maximize the payment if we plan everything before we retire. To do so, we must work a minimum of 35 years with a high salary. Similarly, we should jump into the group of retirees at age 70.
If we do not do this, the payment will not reach too high a figure. While it is true that having a payment of $4,873 every month is not very easy, with these tips we could come very close.