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Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money.
A sizable cost-of-living adjustment to Social Security kicks in this month, meaning beneficiaries are about to see their monthly checks increase — by an average of $58.
According to the Social Security Administration's payments schedule for 2024, the first Social Security checks of the year will be distributed on Wednesday (Jan. 3). This batch of payments is for people who claimed Social Security before May 1997 as well as those who receive both Social Security and Supplemental Security Income (SSI).
For most Social Security beneficiaries, the payments calendar is based on your birthday.