Retirees in the United States who are 65 years old are getting some good news from Social Security today. It is true that not all retirees will receive this news, but a group of millions of retirees will. The Social Security Administration pays the last check of the year to seniors. And it should be noted that the requirement is not to be 65 years old or to have applied for retirement at age 65.
Any Social Security beneficiary who has a retirement or disability benefit and meets another requirement will collect the next check. That requirement is to have a birthday between two specific days. SSA payments are separated into three different groups. The Social Security Administration thus makes payments to retirees on the following days:
2nd Wednesday of the month.
3rd Wednesday of the month.
4th Wednesday of the month.
The groups, thus divided into three, receive checks on different days. This staggered way of paying Social Security greatly speeds up the work of the Administration. It also avoids late payments, as they do not send them all on the same day.
Today is the 4th Wednesday of the month. This means that the Social Security Administration will send the retirement check to all users born between the 21st and 31st of the month. It is very important to remember that the month of birth does not matter in determining the day on which a retiree will collect his or her pension. What is important in these cases is only the day of birth.
How to increase the Social Security check?
Social Security users who are already collecting the benefit check cannot increase their monthly amount. There is a possibility, but it is very remote and difficult. In order to have the largest possible check, you have to plan your retirement ahead of time.
For this reason, it is necessary to control three fundamental aspects.
Salary as a worker.
Regarding the retirement age, in order to collect the maximum possible Social Security, it is best to delay it. If we request retirement at 62 years of age, we will lose 30% of the money we have contributed.
On the other hand, the years worked are also key to obtain a good Social Security check during the golden years. Working less than 35 years will penalize the retiree somewhat, as each year worked below that figure will add $0 to the average pension.
Finally, salary as a worker means the basis for retirement. Social Security determines the amount of your check from the taxes paid as a worker. The higher your salary, the better your future benefit.