Up to $5,108 in Social Security Benefits to Be Paid This Week—Are You Eligible?

Race Day Live Social Security benefits provide financial support to over 70 million Americans every month. These payments are crucial for retirees, disabled individuals, and survivors of deceased workers.

Since there are so many people receiving benefits, payments are sent on different dates throughout the month instead of all at once.

Who Will Get Paid This Week?

Social Security payments are scheduled based on the recipient’s birth date or the length of time they have been receiving benefits.

This week, anyone with a birthday between the 1st and 10th of any month will receive their monthly payment on Wednesday, February 12.

To be eligible for Social Security benefits, you must:

• Be at least 62 years old.
• Have worked and paid Social Security taxes for at least 10 years.

How Much Money Can You Get?

Each year, Social Security benefits increase due to a Cost of Living Adjustment (COLA). This is to help people keep up with rising costs.

In 2025, the average Social Security retirement benefit is expected to increase by about $49 per month, from $1,927 to $1,976.

Here’s how benefits change based on when you retire:

• Age 62: The earliest age to claim benefits, with a maximum monthly payment of $2,831.
• Full Retirement Age (67): Maximum monthly payment of $4,018.
• Age 70: If you delay retirement, you can receive the highest possible payment of $5,108 per month.

Most retirees do not receive the maximum amount because their benefits depend on lifetime earnings and the number of years they paid Social Security taxes.

Expert Opinions on Social Security Increases

When the 2025 COLA increase was announced in October, Martin O’Malley, former commissioner of Social Security, said:

“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool.”

However, independent Social Security and Medicare policy analyst Mary Johnson noted:

“The 2025 COLA will be the lowest received by Social Security beneficiaries since 2021, at the same time inflated prices persist on key essentials such as housing, meats, auto insurance, and services.

Despite it being the lowest COLA since 2021, a 2.5 percent COLA would be considered about average.”

Read More:

• Divorced? You May Be Eligible for Social Security from Your Ex’s Earnings!
• Wisconsin Man With Autism Told to Repay $35K in Social Security—Is the System Failing?

How Social Security Helps Millions?

Social Security is a vital source of income for many retirees. A majority of beneficiaries rely on their monthly payments to cover housing, food, healthcare, and other expenses.

The COLA increases help, but rising costs mean many seniors still struggle to make ends meet.

If you are nearing retirement age, it’s important to plan and decide when to start claiming benefits. The longer you wait, the more money you can receive, but it depends on your financial situation and needs.

Key Takeaways

• Social Security payments this week will be sent on February 12 to those born between the 1st and 10th of any month.
• Monthly benefits are increasing in 2025 due to COLA, with an average rise of $49.
• Maximum payments range from $2,831 (at age 62) to $5,108 (at age 70).
• Many experts agree the 2025 COLA is lower than previous years but still necessary to help retirees with rising costs.

Staying informed about Social Security benefits can help you plan your finances better. Make sure you check your eligibility and payment dates so you can budget accordingly.

Reference

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