Starting to collect a monthly Social Security check is a relief for millions of retirees in the United States. The fact is that this type of benefit appears each month in the beneficiary’s checking account so that he or she can use the money for what is really needed.
However, the timing of Social Security payments is not the same for all retirees. In all, there are four groups of beneficiaries per retiree, and each retiree gets his or her check earlier or later depending on which group of retirees he or she belongs to. And in the next week one of these groups will get the collection.
Which group receives the next Social Security payment?
There are only two requirements to get the next Social Security check. Of course, both requirements are absolutely mandatory. And in order to determine if we are part of this group, we will need to have a birthday within a few days and a retirement check from a specific year.
To be more precise, the retiree must have his or her birthday between the 11th and 20th of any given month. He or she must also have applied for the benefit after May 1997. The month of May is included in this requirement. If you meet both requirements, you will be able to receive this benefit on April 17th, 2024.
If we belong to this group, the Social Security Administration will always send us a check on the third Wednesday of each month. So take note, as that will be your collection day, although there may be exceptions in some months.
Tips for increasing your Social Security payment
If you haven’t yet applied for a Social Security retirement check but are planning to do so soon, it’s good to know how you can increase it. To do so you need to take into account three different elements.
First, you need to consider your retirement age. The older the retirement age, the bigger the check we will get. The minimum age is 62, but the ideal is to wait until at least 67 to get 100% of the money we have contributed.
On the other hand, there are the years worked together with the salary as a worker. If we combine these two aspects we will be able to know how much money we have contributed before applying for Social Security. The ideal is to work a minimum of 35 years in total with a salary as high as possible.