All Social Security payments have a set date. In this way, United States citizens can know the day on which they will receive their pension money. This is the best way for age and disability retirees to organize their family finances. However, it is also advisable not to rely entirely on these payments as the only source of income. In most cases, these payments are insufficient, even though the maximum benefit is $4,194 per month.
The average Social Security payment is $1,666. This check may be enough for many retirees, but not for all. It is true that there are ways to live on that amount of money and still enjoy a good retirement. Even so, these methods are not within everyone’s reach, as it depends a lot on the state in which you live. With this in mind, making a monthly budget is much easier. This way we can better control the income of money coming in through Social Security.
Apart from this, we must keep in mind that the Social Security Administration always sends payments in a timely manner. Therefore, to know the day on which a retiree will receive his or her payment, all he or she has to do is look at the calendar and check the information against the day of birth. On the next payment, which will be on November 23, retirees born between the 21th and 30th will receive their benefit.
Other Social Security Payments in 2022
There are still many Social Security payments remaining in 2022. Some of these payments are for disability and age-based retirees, but others are not. In addition to the retirement payments, the Social Security Administration sends out the Supplemental Security Income check. This payment is for Americans with a low source of income. To find out if you can apply for this payment go to Best Tool.
The 23rd of November, retirees born between the 21st and 31st receive Social Security. This is the last payment for the month of November, so all retirees should have their benefit on this day. If you have not received your check this week, contact your bank or the Social Security Administration to make sure everything is correct.
In this month there are up to five different payments. These are the Social Security payments in December:
- Dec. 1. SSA will send out Supplemental Security Income checks on this day.
- Dec. 7. The Social Security Administration on this day will send payments to retirees born between the 1st and 10th of the month.
- Dec. 14.SSA sends retirement checks to retirees born between the 11th and 20th of the month.
- Dec. 21. Retirees born between the 21st and 31st will receive their Social Security benefit on this day.
- Dec. 30. This payment is part of the January SSI. It is the first payment that will have the 8.7% COLA increase, as it actually belongs to the year 2023.
After these payments, we have to wait until January to see the next of the Social Security payments. These payments will already have the 8.7% COLA increase, so they will be higher. The maximum will not be $4,194 per month, even though to maximize Social Security we must do many different things.