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Receiving Benefits in 2017

Reaching retirement age can be a pretty hectic time, and with all the information that you need to pull together and keep up with it is all too easy to let simple things fall through the cracks. For most people, collecting benefits is like clockwork, an almost passive action that you may not think about. Benefits are paid out today as direct deposits on one Wednesday each month, but that Wednesday changes from person to person based on your birthday. Each month is broken in to three parts, 1^st-10^th, 11^th-20^th, and 21^st-31^st. Each subsequent part coincides with either the second, third, or fourth Wednesday of each month for payment of your benefits. However, those that have filed for Social Security before May 1997 all receive their payments on the third of each month. For more information visit this article by Selena Maranjian with The Motley Fool.

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