If you are a retiree and you are wondering when your next payment will arrive, there is a good news for you. In this July 2025, many people are going to receive their monthly Social Security benefits. And you can get an amount of $2002.
When it will come to your bank account?
The Social Security Administration (SSA) has announced specific dates for your monthly benefits. The dates are depends on your birthdate.
- 9th July: If you born between the 1st and 10th of a month, your payment will be issued on this date.
- 16th July: If your birthday is between the 11th and 20th, you will get your payment on 16th July.
- 23rd July: If your date of birth is between the 21st and 31st, you will receive your payment on the 23rd July.
For many retirees, this is great news because your payment will arrive on time.
But you need to remember that if you were born before May 1997 or you receive Supplemental Security Income (SSI), this schedule will not apply to you.
Are you waiting for your payment?
If you are born between the 11th and 31st, you will have to wait a little longer to get your monthly payment.
Please keep in mind is that your payment of 3rd August will come to you on 1st August. because the 3rd August is weekend.
What is the maximum amount you can get?
The $2002 is not the highest amount you can receive. The average Social Security payment is $2002. But some people can get more depending on when they started their benefits.
If you file for Social Security at age 70 and meet all the requirements, you can receive the maximum amount of $5108 per month.
For those people who reach Full Retirement Age, the maximum amount is $4018.
If you decide to file for Social Security early, at age 62, the highest payment you can get is $2831. But remember that filing early means a lower monthly payment.
So, the $2002 is the average. But you can receive more or less depending on when you start your Social Security benefits.
The 2.5% COLA increase
Your Social Security payment in July will include a 2.5% increase. This is because of the Cost of Living Adjustment (COLA) in the 2025.
This COLA increase will help you to deal with the inflation. But keep in mind that this increase is effective in July 2025. The next COLA boost will not come until January 2026.
SSA will announce the new COLA amount in mid of the October. But you will not see it in your payments until the start of the new year.
How you can manage your Social Security?
If the Social Security is your main source of income, it is very important to manage your monthly benefits carefully.
The average monthly payment of $2002 may not be a lot. But it can cover a significant portion of your monthly expenses.
What you should do?
You should make a list of all your regular expenses like rent, utilities, groceries, and healthcare costs. This will help you to understand how much of your Social Security payment you need to pay for these expenses.
If you can afford to wait, the do it. Delaying your Social Security benefits until age 70 will result in a higher monthly payment.
Make sure to check the payment schedule based on your birthday. So you know exactly when your payment will arrive.
And remember that the SSA will also provide an early payment if your payment falls on a weekend or a holiday.
Keep an eye on the changes to your payment by SSA. Especially for the COLA increase comes into play. And consider the best time to start receiving your benefits.
