The next Social Security retirement payments will reach United States households in just a few days. Well, the truth is that only some of the American households will be able to get each of these payments. What is certain is that we can know the day of the month when we will get our May retirement check.
With this information in mind, it doesn’t matter how much our check will be. The important thing at all times is to know the schedule of Social Security payments in order to organize our finances as efficiently as possible. Knowing everything about our payment schedule will make our retirement check more manageable. And that means a better standard of living.
However, remember that not all Americans collect their check on the same day. In order to get payment on a particular day we have to meet certain specific requirements. Each group of retirees has its own payment days and this is important because it allows us to keep track of our monthly Social Security spending and budget.
When are the next Social Security payments due in May?
United States citizen retirees may get a new check in the next week. This check may be a maximum of $3,822 or $4,873, depending on the terms of your benefit. Social Security retirees at age 70 can reach $4,873 each month, although they must have maxed out their monthly check to do so.
The days of this benefit in May will be on the 3rd, 8th, 15th and 22nd. The next day will be the 3rd of May and only retirees with a benefit prior to May 1997 can get the check. All other beneficiaries, retirees after 1997, will get their check on one of the other days in May. But each day has specific requirements:
- May 8th. It is also mandatory to have a birthday between the 1st and 10th to collect Social Security.
- May 15th. Retirees with birthdays between the 11th and 20th of the month get the payment on this day.
- May 22nd. In addition to the other requirement mentioned above, it is mandatory to have a birthday between the 21st and 31st of the month.
The type of benefit does not matter for the collection of payments on one day of the month or the other. Likewise, the benefit we get is not important either. So we can get a Social Security Disability or a check for exactly $1,600, but if we do not meet the requirements, we will not receive it on the established day.