In just one day, eligible retirees will receive their Social Security checks, with some seniors getting up to $4,873 to cover their living expenses. We all hope to secure the highest possible benefits in retirement, but qualifying for the maximum payment requires meeting specific criteria related to work history, average contributions, and full retirement age (FRA). If you were born between the 11th and the 20th, you can expect your check tomorrow, June 19th, which coincides with the Juneteenth holiday.
After this round of payments, the final check for June will be sent on the 26th to those born between the 21st and the 31st. To receive the maximum monthly benefit of $4,873, you must retire at age 70 and have made Social Security contributions based on the maximum taxable earnings for the past 35 years.
If you retire at the FRA of 67, the maximum benefit is $3,822, while those retiring at 62 can receive up to $2,710. These amounts are adjusted annually due to the cost-of-living adjustment (COLA) to help retirees maintain their purchasing power amid inflation.
Table of Contents
- 1 Next Payment Schedule
- 2 Importance
- 3 What to Do
- 3.1 FAQs
- 3.2 When will I receive my Social Security check if I was born between the 11th and 20th?
- 3.3 What should I do if my Social Security check doesn’t arrive on time?
- 3.4 How much is the maximum Social Security benefit for those retiring at 70?
- 3.5 How can I check my Social Security benefits and payment dates?
- 3.6 What are the scheduled Social Security payment dates for July?
Next Payment Schedule
Following the June 26th payment, the next Social Security check will be issued on July 3rd for retirees who claimed benefits before May 1997. Subsequent payments for July will be made as follows:
- July 10th: For retirees born between the 1st and the 10th.
- July 17th: For retirees born between the 11th and the 20th.
- July 24th: For retirees born between the 21st and the 31st.
Check the official Social Security payment calendar to stay updated on all payment dates throughout the year. You can also log into your My Social Security Account to review your benefits, submit inquiries, and request services online. If your payment doesn’t arrive on the scheduled date, wait at least three mailing days before contacting SSA Customer Service.
Importance
Social Security payments are crucial for around 55 million retirees in the US, helping them cover daily living expenses, healthcare, housing, entertainment, travel, and hobbies. Without these benefits, many seniors would fall into poverty. While 12% of seniors currently need assistance, more than half would require help without Social Security. According to the Economic Policy Institute, 30% of senior beneficiaries rely on Social Security for over 90% of their income.
What to Do
If you find yourself in a financial crisis, avoid resorting to credit card debt, predatory lenders, and other harmful debt solutions. Instead, consider the following steps:
- Stay Calm: Avoid panicking or feeling hopeless. Think rationally about how to get emergency financial support.
- Prioritize Spending: Review your budget and prioritize essential expenses. Cut down on non-essential spending as much as possible.
- Seek Assistance: Reach out to trusted friends and family for advice and support. They might offer valuable suggestions for obtaining immediate financial help.
FAQs
When will I receive my Social Security check if I was born between the 11th and 20th?
You’ll receive your check on June 19th.
What should I do if my Social Security check doesn’t arrive on time?
Wait at least three mailing days before contacting the Social Security Administration (SSA).
How much is the maximum Social Security benefit for those retiring at 70?
The maximum benefit for those retiring at 70 is $4,873 per month.
How can I check my Social Security benefits and payment dates?
Use your My Social Security Account to review your benefits and payment schedule.
What are the scheduled Social Security payment dates for July?
Payments will be made on July 3rd, 10th, 17th, and 24th, depending on your birth date.
