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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