Anyone born between the 11th and 20th of any given month is in the second group of people who get Social Security. Your money will get to you on March 19, 2025. Just make sure you meet the standards, and everything should go smoothly. Don’t forget to write down that date on your calendar.
When were you born? Between January 21st and January 31st. Then you belong to the third group. Your payment will arrive on March 26, 2025. But keep in mind that the dates may be different if you get SSI or retirement payments before 1997. But the 26th is the most important day for this group.
The money you get from Social Security is good news
As prices rise, so does Social Security. By 2025, a 2.5% COLA will be added, which means that people will get more money every month. That is, if you retire at age 67, you could get up to $4,043 a month. If you wait until you are 70 years old, though, the payout goes up to $5,108 per month.
Keep in mind that you will only get these amounts if you have put in the highest amount for 35 years. This change helps the beneficiaries keep their buying power and makes sure that their income fits with the country’s real economy.
What’s the difference between now and 2024? The jump stands out. The highest amount at age 70 was $4,873 last year, so the rise isn’t just due to the COLA; it’s also because people are putting off retirement. This could change the way you think about when to quit.
Income limits: what you need to know to be ready for them
Important fact: in 2025, you will only have to pay Social Security taxes on the first $176,100 that you make. If you go over that amount, the extra money is not taken away. But be careful, this is only for people with a lot of money.
For people born in 1960 or later, the full retiring age is 67. If you are still working, there are some extra rules this year. For instance, if your yearly income is more than $23,400, your benefit will be cut by $1 for every $2 you make more than that amount.
This limit goes up to $62,160 for 2025, though, when you leave for good. You’ll have more freedom because you can work from then on without having to worry about how much money you could get from benefits. Nothing will stop you once you’re fully retired!
If you get SSDI, remember that there are limits on how much money you can make. Your benefits won’t change if you get up to $1,620 a month by 2025, or $2,700 if you are blind. This information is very important if you want to work and get disability support at the same time. It helps you plan your income so there are no shocks.
