Next Social Security Payment For Seniors Update – New $1,900 Paycheck In Two Days

Each month, Social Security pays five different types of benefits to qualified beneficiaries. Without these monthly payments, millions of retirees, survivors, and disabled workers struggle to keep up with inflation and make ends meet. The Social Security Administration (SSA) said that in two days it will issue another Social Security payment to seniors who began receiving benefits before May 1997 and met the contribution requirements. Remember that these payments include the cost-of-living adjustment (COLA), and the average payment will be about $1,900. Click here to see all the possible amounts that will be mailed out next week.       

Based on figures from September 2023, the Social Security Administration estimates that nearly 67 million people will receive monthly Social Security payments. The majority of the 67 million beneficiaries will be retirees and their families, totaling more than 52 million in September 2023. In addition, the SSA projects that by 2024, more than 180 million people will be working in jobs covered by Social Security and paying Social Security taxes.

Social Security payment dates in July 2024

On July 3rd, all eligible retirees who began receiving benefits after May 1997 will begin receiving their monthly benefits. Checks for other beneficiaries will be mailed on July 10th, July 17th, and July 24th. For a list of all upcoming confirmed payment dates, please click this link. We also invite you to visit the official Social Security payment schedule. 

• Retired seniors who claimed benefits before 1997 (regardless of birth date) will be paid on July 3rd
• Retired seniors who were born between the 1st and the 10th will be paid on July 10th
• Retired seniors who were born between the 11th and 20th will be paid on July 17th
• Retired seniors who were born between the 21st and the 31st will be paid on July 24th

The Social Security Administration (SSA) has confirmed that qualified retirees will receive an average monthly payment of $1,900 next week; however, recipients may receive payments in varying amounts. The amount you receive is based on your full retirement age, work history, average contributions over the past 35 years, and type of disability (which is determined separately for those with disabilities). Because the SSA pays retirees, survivors, and disabled workers based on different program requirements, we have listed here all of the beneficiary payment amounts for this year: 

To get the maximum monthly payment from the Social Security Administration, complete all conditions. It is recommended that you consult with a financial specialist or SSA expert to improve your chances of collecting this Social Security payment. For further information, go to the official SSA retirement website or log in to your My Social Security Account to download monthly statements and request additional information.

How can you get a Social Security payment after the death of a parent? 

Approximately 2.7 million children get a Social Security payment, with more than half receiving payments following the death of a working parent who paid taxes. Indeed, if a working parent dies, 98 out of every 100 children in the United States may be eligible for Social Security. In some situations, the child’s surviving parent may also qualify for benefits. According to David Weaver of the University of South Carolina, a parent’s death can have a detrimental financial, health, and educational impact on their children.

Social Security benefits are critical for surviving children and families of all races, ethnicities, income levels, and geographical areas. Surviving children receive an average monthly benefit of more than $1,000, and benefits are paid until the child reaches the age of 18 or 19, if in high school and not married. Stepchildren, grandparents, step-grandparents, and adopted children may also be eligible for monthly benefits under specific conditions.