The Social Security Administration (SSA) is still sending the monthly payments to people who are eligible as the year comes to a close. Not only is November the start of the holiday season, but it’s also one of the months when Americans choose to spend the most on Christmas gifts.
Of course, we’re talking about Thanksgiving and the two big shopping days that follow, Black Friday and Cyber Monday. Cyber Monday is a fairly new holiday, but many families already celebrate it every year. These three dates can make any bank account look small, and retirees aren’t immune. In fact, they are often the ones who are hit the hardest during this time.
Social Security benefits are meant to help older people who are head of households and have to host parties and buy gifts for large families. These people need the money until the new year. After months of saving, many people will finally have enough money for the feast. However, a sudden cash infusion will be an extra safety net that many may need.
So, this month it will be even more important to know when your Social Security check will arrive. For many, it will help them get through the first part of the holidays without taking on any extra debt.
Social Security Payment for November
Thanksgiving is on Thursday, November 28. This is good news for everyone who is retired. Before carving the turkey, all the benefits will be given out! People get Social Security payments based on their birthday.
The exact dates change each month because of the way the calendar works, but this is generally how it works. Also, all changes are planned and recorded ahead of time, so you will know ahead of time if your benefit doesn’t follow the rules.
You will be paid this month on three important dates:
- Wednesday, November 13: beneficiaries born from the 1st to the 10th of any month of the year.
- Wednesday, November 20: Beneficiaries born from the 11th to the 20th of any month of the year.
- Wednesday, November 27: Beneficiaries born from the 21st to the 31st of any month of the year will have the money the day before Thanksgiving.
Also, people who started getting benefits before May 1997 will have already gotten their money on November 1. That was the only time the month’s date changed.
Using the Direct Express debit card or getting a direct deposit into your bank account are the two most common ways to pay these days. You don’t need a bank account to use this card because it is pre-paid. It can be used to buy things, pay bills, or get cash. For people who still write checks, the postal service shouldn’t have any problems, so checks should still get to you in time for the holiday.
How much will individuals receive in payments?
The cost of living adjustment hasn’t happened yet and won’t until January 1, 2025. That’s why your check will still have the same amount of money on it as it did all year. The exact amount will depend on your work history and the age at which you started getting benefits, but we can give you a rough idea of what some people may be getting.
- For those who waited until age 70 to retire, they can receive up to $4,873 a month.
- For those who retired at full retirement age, they will receive up to $3,822 a month.
- For those who retired at age 62, they will receive a smaller amount, up to $2,710 a month.
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