Millions of seniors cannot wait any longer to cash Social Security checks. These payments can be of great help to help them pay the necessary expenses and face the skyrocketing prices in the United States.
While checks arrive, many retirees need to have a good plan and budget to be able to make ends meet. If you did not qualify for a payment from Social Security on November 3, 8, 15, and 22, it is more than likely that this check is yours.
However, you can not receive this money from Social Security unless you have filed for benefits. Filing is necessary but it must have been after April 30, 1997. If you filed before May 1997, this is not your payment.
WHO WILL RECEIVE THE FIRST SOCIAL SECURITY PAYMENT IN November?
Apart from not filing for benefits before May 1997, you must have a specific birth date. Otherwise, you will not be able to cash this average payment of about $1,841.
If your birthday falls between the 11 and the 20, you will receive this Social Security retirement check. Bear in mind that other birth dates do not qualify for this Social Security payment.
Social Security has organized the delivery of checks depending on both the filing date and the birth date. What is more, these payments come on a Wednesday.
If you do not turn 11-20, you must wait for the third round of Social Security payments on the 22nd respectively.
HOW MUCH MONEY CAN I RECEIVE ON THE NOVEMBER 15 SOCIAL SECURITY PAYMENT?
On average, Social Security will send checks of about $1,841 as of September 2023 said SSA. However, the Administration can give some payments which are much higher. For example, they can pay up to $4,555 in 2023 at age 70.
In order to achieve this large payment of $4,555 you must have worked for at least 35 years. Retiring at 70 is also compulsory. The last requirement is to have an earnings history which is outstanding.
For example, if you would like to get $4,555, you must earn the taxable maximum for 35 years. This taxable maximum is as much as $160,200 in 2023. And it will increase to $168,600 in 2024.
So it is not about earning a fixed amount every year, but about collecting the updated taxable maximum for 35 years. Undoubtedly, very few Americans can achieve these checks from Social Security.