Waiting for the Social Security benefit patiently is part of the things that pensioners in the territory of the United States must do. This is because everyone has their payday and, therefore, there is no way they will miss the opportunity to receive their subsidy. The best news about starting to collect your Social Security benefit is that you always know exactly the day you receive it. There is no way to go wrong, as you can see the schedule of payments from the beginning of the year.
Therefore, there is no better way to live your retirement than by collecting your benefit on time. Fortunately, the Social Security Administration never has any delays with respect to this. Even so, the check may take longer than you would like, although it does not depend on the SSA as such, but on factors external to the SSA. These factors can be the bank, for example. If you activate Direct Deposit you can forget about having problems.
The last Social Security in September
The last day of payment of this benefit will be September 28th. This means that there are only 3 days left for the amount of the Social Security check to reach the bank accounts. This will only happen if you have activated the Direct Deposit, as we have previously mentioned. Otherwise, you will have to wait a few days, although this is not always the case.
Sometimes, the bank may have the money available on the same day. Therefore, it is possible to have the benefit for the next week, although only for a group of retirees. If you were born between the 21st and 31st of the month you belong to the last group to receive Social Security. We are talking about the retirement or disability benefit, of course, not the other benefits that the SSA may have.
Maximizing your retirement benefit
It is quite possible that you have not yet applied for retirement but want to know how to collect the maximum Social Security. In this case, you need to pay attention to three key details:
- Retirement age. The best age is 67 because you enjoy a lot of time off and have a higher benefit. If you retire at 62, you will see a 30% reduction, more or less, in your monthly check.
- Years worked. Work at least 35 years to get a good retirement benefit. Each year worked below this figure will add $0 to your monthly benefit.
- Salary. The higher your salary, the higher your final retirement benefit. That’s because taxes are a key element in determining your monthly Social Security check.
These three factors are indispensable and we must increase them all at the same time. Social Security can be increased if we only pay attention to one, but to achieve the maximum of $4,194 per month it is mandatory to maximize all of them.