Social Security: Who will receive $1,916, $910 or $893 in July

In July, many people will receive Social Security payments. The amounts of money they receive vary depending on their years of work, retirement age, and wages. However, some families could get extra money.

Payment dates in July

Following the first payment on July 3, there will be three more rounds of payments during the month.

Payments will be made on the following dates, depending on the beneficiary’s date of birth:

–July 10: for those born between the 1st and 10th of any month of the year.

–July 17: for those born between the 11th and the 20th of any month of the year.

–July 24: for those born between the 21st and the 31st of any month of the year.

These payments are not for SSI recipients or those who began receiving benefits before May 1997.

These amounts are average payments for different types of Social Security beneficiaries.

For example, retired workers receive an average payment of $1,916.

Remember that the maximum benefit at age 62 is $2,710 and at age 70 it is $4,873.

Some eligible spouses may also receive benefits based on the worker’s work record.

Currently, the average payment for spouses of workers receiving Social Security is $910, a little less than half the amount for workers.

Eligible children of retired workers can also receive monthly payments. As of May 2024, the average payment for children of retired workers is $893.

Importance of delaying retirement

It’s important to note that the longer you delay retirement, the larger your direct deposit will be. Filing early may reduce your payment.

So if you are still working in the US, delay applying as long as you can to get extra money each month.

Keep reading:
– Social Security: payments confirmed for July 10, 17 and 24
– Social Security promises changes for people with disabilities
– Stimulus check: who could receive up to $1,000 in July