Your Social Security Check: When It Arrives and How to Maximize It

Money Explainers

When does your Social Security check arrive? Learn the payment schedule and key factors that determine your benefit amount. Don't leave money on the table! Discover how your retirement age and work history can significantly increase your Social Security checks. Your Social Security benefit is just one piece of the puzzle. Plan smartly and understand how to get the most from your payments. #RetirementIncome #MaximizeYourBenefits #SocialSecurityPayments

Transcript

00:00For millions of Americans, Social Security payments are a critical lifeline.

00:05So, when does that check arrive?

00:07Generally, payments begin on the second Wednesday of each month,

00:10with subsequent waves distributed based on your birth date.

00:13If you were born on or before the 10th of the month, your payment arrives on the second Wednesday.

00:18Those born between the 11th and 20th receive their benefits on the third Wednesday,

00:23and if your birthday falls on or after the 21st, your check comes on the fourth Wednesday.

00:28But beyond knowing when your money arrives, understanding how to maximize your benefit is key.

00:34Your monthly payment largely depends on three factors.

00:37Your retirement age, the amount you paid into Social Security, and the number of years you worked.

00:43While you can claim benefits as early as 62, your payment will be significantly reduced, potentially, by up to 30%.

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