This month’s first Social Security deposits have already been credited to the bank accounts of the first group of beneficiaries. If your birthday falls between the first and tenth of any month, check your account because the money arrived on Wednesday, February 12.
If you do not fall into the first group, you may be eligible for two additional Social Security payments. If you did not receive payment on the 12th, set aside February 19 and 26 (next payment rounds). Birthdays between the 11th and 20th of any month are celebrated on the 19th, while those born after February 21st celebrate on the 26th.
What’s coming in 2025: Adjustments and challenges for Social Security
Mary Jenkins, an independent analyst, assured that 2025 will not be a year when retirement funds and other benefits, such as disability benefits (SSDI) or Supplemental Security Income (SSI), are at risk. “The 2.5% COLA will be the lowest since 2021, but it still helps to deal with high prices in housing, insurance or services.” Although it is not a large party, it is something.
Of course, former commissioner Martin O’Malley recalls that “this will help millions to stay afloat even if inflation drops.”
The American Association of Retired Persons, for its part, is on guard. Bill Sweeney, its vice president, claims that they met with the government and assured them that the payments were secure. “We’ve been working with all governments for 65 years, without flags. “We believe in the promises,” he says. Basically, no one will touch your belongings.
The COLA increase is not a gift, but rather a necessary adjustment for inflation. In 2025, it will rise less because official figures (2.5%) indicate that life is “less expensive.” But take care: According to Jenkins, “meat, insurance and repairs continue to have a strong impact on domestic economies.”
For those just starting out: Social Security basics
If you are 62 years old and have contributed for ten years, you can apply now! But think twice: retiring early reduces your lifetime income. What is the wise course of action? If you can wait until you’re 70, your future self will appreciate it (with extra money).
That is, those who have at least 35 years of good work credits and delayed retirement until age 70 could earn a maximum of $5,108 per month in 2025, an amount that increased with the COLA adjustment and may increase again next year to keep up with inflation.
If you are already retired and the money has not appeared in your bank account, the SSA requires you to wait three business days (excluding weekends and holidays) before claiming. Reason? Banks can be slow at times, and electronic system errors can occur.
