On December 3, Social Security in the United States made one of its final payments for 2024, exclusively for beneficiaries in Group 1, which includes those who began receiving benefits before May 1997. This group consists of both age-based retirees and disability beneficiaries.
The next payment is scheduled for December 11 and will be for beneficiaries born between the 1st and 10th of any month. This payment marks the last regular Social Security check of 2024 for this group.
Following that, beneficiaries born between the 11th and 20th of any month will receive their payment on December 18. Finally, those born between the 21st and 31st will get their checks on December 25, ensuring that all groups receive their payments in an organized manner before the end of the year.
Additionally, the first Supplemental Security Income (SSI) payment for January 2025 will be sent early, on the last day of December 2024. This advanced SSI payment helps beneficiaries start the new year with additional financial support.
How to Maximize Social Security Payments
While each beneficiary’s payment depends on individual circumstances, there are key strategies to maximize Social Security benefits over time:
- Delay Retirement: Postponing Social Security benefits until age 70 significantly increases monthly payments. For each year of delay beyond full retirement age (66 or 67, depending on your birth year), your benefit increases by approximately 8%.
- Work at Least 35 Years: Social Security payments are calculated based on the 35 years of highest earnings. If you work fewer years, those without earnings are counted as zeros, reducing your average benefit.
- Earn Higher Wages: Social Security benefits are determined by taxable earnings throughout your career. The higher your taxable income within the Social Security wage base, the higher your monthly benefit.
Implementing these strategies not only enhances your future Social Security payments but also provides greater financial stability during retirement.
As the final Social Security payments for 2024 approach, planning your finances carefully—especially during the holiday season—can make a significant difference. These payments provide a vital opportunity to secure economic well-being as the year ends and 2025 begins.