A large number of U.S. citizens will receive one of the Social Security benefits today. This benefit can be as high as $4,194, as this is the maximum that the SSA provides. As of today, it is impossible to increase that figure, although it will increase in 2023 due to the COLA. However, the Social Security Administration has not yet announced what the percentage increase will be. This figure will be announced in October.
If you want to know if you are one of the beneficiaries of the benefit on the coming October 19, you will be able to check soon. With just your date of birth. Then you will know when Social Security will send you the benefit so you can pay your bills. The payments for the month are divided into three different groups and, as previously mentioned, the birthday is the key point. Which of the 3 groups are you in?
Social Security payments
So, we can say that Social Security makes three payments as far as general benefits are concerned. These benefits are those given to people who are retired due to age or disability. Each range of birth days is a different payday. Thus we have payments on the second, third and fourth Wednesday of the month.
On this occasion, in October we find that the payment days are the 12th, 19st and 26th. Also, the Social Security Administration sends the money on the 12th to people born between the 1st and 10th of the month. The second payment, on October 19, corresponds to people born between the 11th and 20th. Finally, the fourth Wednesday of the month is October 26th and the SSA sends the money to beneficiaries with birthdays between the 21st and 31st of the month.
So now you know when you will be able to count on the new Social Security money and it does not matter if you have a disability pension or it is a retirement subsidy. The main thing is to have one of these payments. In addition to this, remember that $4,194 is the maximum, although it is a really difficult figure to achieve.
Therefore, as a general rule you will receive about $1,666 in your Social Security benefit, as this is the average payment for beneficiaries. And don’t forget that it can take up to 3 days for the money to appear in your account, so don’t despair if it doesn’t arrive in that time.
Maximizing the subsidy
If you’ve already applied for your Social Security retirement benefit, you won’t be able to increase it directly. However, you can get a job to help pay your bills. Not only that, but you can also get some extra income that will give you a higher financial benefit.
On the other hand, if you haven’t yet applied for your subsidy, the rules for getting the maximum from SSA are easy. For one thing, apply for retirement the later the better. On top of that, work for at least 35 years and, finally, maintain a high salary for all those years. Thanks to these tips you could get the benefit of up to $4,194.