A quirk in the payment schedule will lead to checks coming earlier than usual.
The later one collects benefits, up to age 70, the more benefits they will receive.
One can receive up to $3,627 in Social Security benefits this month if they began collecting benefits at the full retirement age of 67, according to Nasdaq. Those who started collecting at the earliest age of 62 will receive up to $2,572, and those who began collecting at age 70 will receive up to $4,555.October is an important month as the SSA will, which according to policy groups like The Senior Citizens League will be 3.
Blank Social Security checks are run through a printer at the U.S. Treasury printing facility on February 11, 2005, in Philadelphia, Pennsylvania. Recipients will receive checks early due to the payment schedule.Due to a cooling of inflation amid other factors, the COLA pales in comparison to the current 8.7 percent retirees receive. That number announced nearly one year ago was the highest in four decades.
"It's very difficult to save enough these days," Mary Johnson, Social Security and Medicare policy analyst at TSCL, toldearlier this month."You have to start earlier to really be able to set aside over a million dollars to even have an average of $40,000 per year income. "If people are not working in that kind of job and haven't put that kind of money aside, it's very difficult," she said.
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