During the remaining months of 2023, retired U.S. workers will continue to receive Social Security benefits. The same applies to citizens who obtain Supplemental Security Income (SSI) support. Therefore, it is recommended that all eligible inhabitants know the payment dates and the amount to be received.
In this way, they can have better financial preparation to avoid unnecessary problems in the process. In particular, because economic stability is crucial for people who receive these Social Security benefits. For that reason, here at The Look, we will tell you all the key details about this process and how it works.
Social Security Check Payment Dates to Retirees in 2023
The Social Security payment schedule is structured in an orderly and efficient manner. And best of all, it is already available digitally, for beneficiaries to review. In this way, they will be able to know when they will receive financial aid to cover their expenses or pay their debts.
So that you have a clear idea about the payment dates, in the following list we will give you the details of it:
- SSI payments are made during the first or last day of the month, depending on whether it starts over a weekend.
- People who receive Social Security payments prior to May 1997 will have their checks on the second or third day of the month.
- Those born between the 1st and the 10th will have to wait until the second Wednesday of the month.
- By the third Wednesday of the month, retirees with a birth date between the 11th and 20th will get the payments.
- Finally, there are those born between the 21st and 31st who receive the checks during the fourth Wednesday of the month.
By following these criteria, you can calculate the exact date Social Security will grant you monthly checks.
Payment Amount of Social Security Checks
On the other hand, it is also important to know the amount of money you can receive with Social Security checks. This is also a key factor in managing your finances in the best possible way. Luckily, this is information that is also available to all citizens. Next, we will tell you about it:
- Retirees under age 62 can receive payments of up to $1,827.
- Starting at age 62, retirees get $2,572.
- Those who wait until age 70 to retire will receive more than $4,000.
In addition, the money offered by Supplemental Security Income per month can vary due to different factors. In particular, it is taken into account if the person is single or married to a spouse who is also eligible for such benefits.
The Impact of Social Security Checks
For millions of people across the country, Social Security payments are critical to staying out of bankruptcy. This is extra money that helps cover essential expenses or pay off debts for the month. In this way, retired or disabled citizens can maintain a good quality of life.
For these reasons, it is necessary to know the payment dates and the amount of money that can be received with these benefits. Otherwise, you won't be able to have good control over your finances.