The Social Security Administration (SSA) can pay up to $4,873 in 2024, currently that is the maximum amount of retirement benefit that 70-year-olds could be receiving if they apply in 2024, however, not all working U.S. citizens apply for Social Security retirement benefits at the same age.
The age at which the application for benefits is made can make a big difference, but it is not the only factor, know how to get the most benefit possible, to earn up to $4,873, you must comply with 4 guidelines that the Administration has already established as requirements.
What Are the SSA Guidelines?
First, you must have worked for at least 35 years, otherwise your monthly payment drops considerably. The higher your salary, the better you can get the higher retirement benefits, that’s why the population of American workers is so small that they can receive $4,873 from their Social Security, this is only for those people who earn the contribution and benefit base throughout all those 35 years.
In the end, you may have a high salary by the age of 35, but your job may not be covered by Social Security.If that’s the case for you, you may not receive retirement benefits, but you will receive a pension.
When Could I Receive Social Security Payments up to $4,873?
Once you make your application for Social Security payments, there are four possibilities, if you neglect your retirement benefits, there are chances that you will receive a very low check or direct deposit, if that is so, you can also receive Supplemental Security Income (SSI) at the same time, therefore, you would be receiving, SSI on the first day of the month and Social Security on the third day, if you do not qualify for SSI, there are only 3 paydays.
They will be on the second, third or fourth Wednesday, If your birthday is between 1 and 10, the payment will be made on the second Wednesday, those who were born between 11 and 20 may receive it on the third Wednesday, the last payment of the retirement benefit will be on the fourth Wednesday,.
Here’s When This Month’s Social Security Checks Are Coming In
Taking into account the form of distribution of the checks, we provide you with the Social Security payment schedule for this month of July, according to the official information of the SSA.
- Monday, 1: The first payment of the month is due to SSI beneficiaries.
- Wednesday, 3rd: Beneficiaries born before May 1997
- Wednesday, 10: Beneficiaries with date of birth between 1 and 10.
- Wednesday, 17th: Beneficiaries with date of birth between 11th and 20th.
- Wednesday, 24th: Beneficiaries with date of birth between 21st and 31st.
Top Social Security Payments in 2024
The exact amount of the checks will always depend on the situation of each person, however, the SSA has some estimates that place the average payment for an already retired worker at $1,907 for people who are single and $3,303 for people who are in a couple who make their tax return together, so it corresponds to SSI beneficiaries, the average check is $943 for single people and $1,415 for couples.
