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Social Security: What is the disadvantage of being born between the 1st and 10th of the month?

The date of birth determines the day on which you can collect the Social Security benefit and so there is a disadvantage

by Abraham Quirós Villalba
10/09/2022 08:00
in Money
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The United States Social Security Administration’s payment schedule is always announced at the beginning of the year. On this calendar you can see exactly what day of the month the SSA sends benefits to all beneficiaries. The date of the birthday is a key piece of information for this calendar.

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The different beneficiary groups are divided into three groups. The first group is for people born between the 1st and 10th of the month. The second group is for beneficiaries born between the 11th and 20th. Finally, the third group is for Social Security pensioners with birthdays between the 21st and 31st of the month. Each group has its advantages and disadvantages.

Social Security and people born 1st-10th

The main disadvantage of this group of people can also be an advantage. It all depends on your financial calendar and how you organize your payments. If you have payments due at the end or beginning of the month, it may be an absolute disadvantage. On the other hand, if you are able to work out a good schedule to control your finances, Social Security will be sufficient until the next payment.

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SSA sends payments in different days
SSA sends payments in different days – CANVA

Thus, on the second Wednesday of the month you will receive your benefit. In this sense, this means that between the 9th and the 15th of the month you will have your money. There will be months where this may change, but that is the general rule. There is no greater disadvantage than that. Still, if you have payments to make before you collect your Social Security benefit, talk to your bank about changing the date you pay your bills. You may be able to fix it this way.

In any case, remember that we are talking about the payment of the retirement or disability benefit. As far as Supplemental Security Income is concerned, the Social Security Administration always sends it on the same day of the month, the 1st. No matter what your birthday is, the payment is always the same day of the month.

Tags: moneySocial Security
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