The new Social Security payment schedule for the month of December 2023 has already begun in the United States. So many retirees can already enjoy their benefits, since on December 1st the Administration sent out the first check of all.
However, this check was only for retirees prior to 1997. If our benefit is not prior to that year, we will have to wait a bit, as the payment will arrive in the next few weeks. Post-1997 retirees are divided into three different groups.
Within those three groups we can collect the payment on the second, third or fourth Wednesday of the month. Each of these days is for a specific group of beneficiaries. Therefore, we can know on which day we will receive payment if we know the payment schedule well.
With just a little bit of personal information, we will find out on which day in December we can get our Social Security check in our bank account. There are only a couple of requirements to cash the next payment, but we could also get a check in one of the next few days.
HOW TO CASH THE NEXT SOCIAL SECURITY CHECK?
The first thing to keep in mind in order to cash this check is that we have to be part of the group 2 retirees. This group is made up of Social Security beneficiaries of all kinds, so neither the amount we collect from Social Security nor the type of benefit we have will determine whether we will receive the next payment or not.
In order to get this check, two conditions must be met. These are the two mandatory conditions:
- Having a birthday between the 1st and 10th of the month. It is indispensable to have a birthday between these days, but it is not necessary that it is in the month of the payment. In other words, you do not have to have a birthday in December to receive a check in December.
- Having a Social Security benefit after 1997. If our check is prior to this year, we will receive the first check of the month, but beneficiaries with a later check will receive it on one day or another depending on the day of the birthday.
With these two requirements it is more than enough to get the benefit, but if we do not activate the Direct Deposit we will not get the payment on the same day. The Administration will pay this Social Security check on December 13th, which is only one week from today.
HOW DO I INCREASE MY RETIREMENT CHECK?
To increase the payment of the Social Security check, it is necessary to plan everything in advance. And the important thing in the event that we want to get the biggest possible check is to maximize the three variants that make up the benefit.
On the one hand we have the years worked. On the other hand we have both the salary and the retirement age. If we are really looking at getting a payment of $4,555, the maximum check in 2023, we need to work for 35 years at a high salary.
Likewise, we also need to retire at age 70. If we retire earlier, we will lose part of the money we have contributed. If we retire at the minimum age, 62, we will lose 30% of our Social Security, so it is not advisable to do this.