The Social Securitypayment system in the United States has its own calendar. This calendar is useful to have a better control of the economic part of the American household. Thanks to knowing when you will receive your Social Security, you can more easily organize everything related to the family’s finances. It doesn’t matter if you have a disability or retirement benefit, as you can receive either on the same day.
What is more important in this area is the date of birth. The day you were born determines the day on which Social Security will send your benefit to your bank account. Therefore, people born between the 1st and 10th of the month will be able to have your retirement or disability benefit in their pocket very soon. The rest of the people will receive their benefit in the following weeks. It will always depend on the day of birth.
Social Security payments for October
This payment next October 12 belongs to people born between the 1st and 10th, but it is not the only one that Social Security makes this month. In addition to this one, there are two more payments that beneficiaries will receive depending on their date of birth:
October 19: The Social Security Administration sends the payment to people born between the 11th and 20th.
October 26: Beneficiaries with birthdays between the 21st and 31st receive the SSA payment on this day.
Therefore, if you were born between these dates you can receive payment on one of these days. Also, don’t forget that the payment is made immediately if you have Direct Deposit active, a free service that expedites the process of collecting Social Security. Otherwise, you have to wait up to 3 days to receive your money in your bank account.
Maximum retirement benefit in 2022
The maximum retirement benefit in 2022 is $4,194, although not all beneficiaries can reach that figure. If you are already receiving a retirement benefit, you will not be able to increase it, but if you have not yet applied for it, you will be able to increase it. To do so, you have to wait as long as possible before applying. The later your retirement age, the higher your Social Security benefit will be.
In addition to this, there are also two other important factors. These two elements are salary and years worked. Working for 35 years is ideal, as well as having a good salary. This way you will be able to maximize your Social Security.