In every city in the United States, the moment we start collecting a Social Security benefit, we have a great advantage. This advantage is none other than the possibility of knowing the exact day on which we collect our monthly payment. This may not seem to be an advantage, but in reality it is.
With the knowledge of the exact day of collection the beneficiaries can have a better organization at home. Bills, mortgages, loans and daily purchases can be better organized. It’s really a simple thing to do if we know on what exact day the Social Security Administration will send the new check.
And since both disability and age retirement checks are sent on the same days, any retiree can have this advantage. Whether your benefit is age or disability you can find out when you will get the money thanks to the calendar. Without a doubt, this is one of the great advantages of receiving your Social Security benefit every month. Do you know on which day you will receive this month’s check?
Complete Social Security Schedule for May 2023
Remember that the Social Security Administration sends out retirement checks on up to 4 different days. On each of these days, different groups of retirees may have the benefit in their pocket. Pay attention to find out which group you belong to and when you will receive your May 2023 check.
It is important to note that Social Securitysends checks in two large groups. The first group requires you to have applied for benefits before 1997. The second group requires you to have retired after that date. In turn, this second group is divided into three different groups, which we will see below.
May 3rd. Payment for pre-1997 retirees. All beneficiaries who meet this requirement will receive check on this day.
May 10th. You must have applied for retirement after 1887. In addition, the retiree’s birthday must be between the 1st and 10th of the month to receive this benefit on this day.
May 17th. The Social Security Administration pays checks on this day to post-1997 retirees born between the 11th and 20th of the month.
May 24th. Retirees with birthdays between the 21st and 31st are paid on this day. It is also mandatory to have applied for retirement after 1997.
But these are not the only payments sent by the Administration in May. There is also the check for Supplemental Security Income. This check was sent on the first day of May and is for all recipients of this benefit.
Increase the retirement check by age
In order to increase the retirement check by age, we must take into account that it is mandatory not to have retired yet. It is possible to increase it a little after retirement, but it is much more difficult. If we want to increase Social Security we have to maximize three aspects.
The retirement ageis key to this. There is no question that it is critical to take retirement age into account in determining Social Security check. If we retire at the minimum age, 62, we will lose 30% of the money contributed. If we want the check to be 100% of the money we have contributed as workers, we must wait until the age of 67 to retire.
The other two key elements to get the best possible check from Social Security are the years worked and the salary during those years. These two elements go together because they feed back on each other. Working a minimum of 35 years at a good salary is the key to getting the best possible retirement check. In 2023, the maximum is $4,555, although not all Americans can reach that figure.