Summary
Many Americans will receive their Social Security payments this week, specifically those with birthdays at the end of the month. The payment amount can vary based on factors like a person's lifetime earnings and when they start collecting Social Security. There are concerns that Social Security benefits may be cut in the future if funding issues are not addressed.
Key Facts
- Over 70 million Americans rely on Social Security for income.
- Payments for those with birthdays from the 21st to 31st will be on February 25.
- March 2026 payment dates include specific days for different birthday ranges.
- Benefits depend on lifetime earnings and the age at which payments start.
- A person can earn up to four Social Security credits a year.
- Maximum potential monthly benefits depend on the age started, with up to $5,181 per month if starting at age 70.
- Average monthly payment for retirees in December was $2,071.30.
- Social Security's trust fund is projected to run out by 2032 without action, causing possible benefit reductions.
