$4,194 Direct Payments To Hit Bank Accounts In Days

On Wednesday, October 12, those with birthdays between the first and tenth will have their money distributed to them.

If your birthday is between October 11 and October 20, your check will be deposited on October 19. If your birthday is after October 21, you can expect your check on October 26.

This year, the highest monthly Social Security payment is $4,194, and the average payment is $1,657.

To get Social Security, seniors must have paid into the system for a certain number of years and worked for a certain number of time.

The amount you get depends on when you were born, how much money you've made in the past, and when you start getting benefits.

It's important to know that Supplemental Security Income (SSI) is not the same as monthly Social Security benefits. SSI payments are not taxable.

More than a quarter of retirement income comes from Social Security in each and every one of the locations that were studied.

According to the study, only 26.90% of Miami's total retirement income comes from Social Security. This is the lowest percentage of any city.

Even though there are a lot of people 65 and older in some parts of California, they depend on Social Security for only 30.1% to 36.6% of their total retirement income.