With October’s Social Security payments already completed for millions of retirees and SSDI recipients, it’s time to focus on November’s payment schedule. As Black Friday approaches on November 29, 2024, many people are planning their purchases and wondering how Social Security payments can help them prepare for holiday shopping.
Contents
- 1 Payments Scheduled
- 2 Social Security Payments
- 3 Preparing for Black Friday
- 4 SSI Payments
- 5 Benefit Amounts
- 6 Social Security Payments
- 6.1 Kamala Harris’s Proposal for the Child Tax Credit – Key Details, Benefits, and Potential Impact on Families
- 6.2 FAQs
- 6.3 When is the next Social Security payment after October?
- 6.4 Will I get my SSI payment early in November?
- 6.5 When is Black Friday in 2024?
- 6.6 How much is the average retirement benefit?
- 6.7 Can SSI recipients shop on Black Friday with their payment?
Payments Scheduled
The first round of Social Security payments in November will arrive on November 1, 2024, for those who:
- Started benefits before May 1997: This includes retirees and SSDI recipients who began collecting benefits before this date.
- Receive SSI benefits: If you receive both Supplemental Security Income (SSI) and Social Security, your November payment will also arrive on November 1.
This early payment is a result of the weekend adjustment, as November 3 falls on a Sunday. If you’re receiving both Social Security and SSI, you’ll get two checks on November 1, providing you with extra funds to prepare for Black Friday.
Social Security Payments
For those who don’t qualify for the November 1 payment, the Social Security Administration has scheduled three additional paydays leading up to Black Friday:
| Payment Date | Eligible Birthdays |
|---|---|
| November 13 | Birthdays from 1st-10th |
| November 20 | Birthdays from 11th-20th |
| November 27 | Birthdays from 21st-31st |
To qualify for these payments, your birthday must fall within one of the listed ranges. These payments will arrive just in time for those looking to make purchases during Black Friday sales.
Preparing for Black Friday
With soaring prices and inflation impacting your purchasing power, planning ahead for Black Friday could help stretch your budget. If you’ve got your eye on a special gift or want to take advantage of discounts, your November Social Security payment can play a vital role in your holiday shopping plans.
For those receiving their benefits on November 27, you’ll get your funds just two days before Black Friday. This provides a narrow window to organize your shopping and make the most of the deals available.
SSI Payments
Interestingly, many Supplemental Security Income (SSI) recipients will get their December payment on Black Friday, November 29. This early payout happens because December 1 falls on a Sunday. So, even though it’s technically a December payment, it will be available on Black Friday, providing SSI recipients with additional funds to spend on the big shopping day.
Benefit Amounts
The amount you receive from Social Security depends on various factors, including your work history, filing age, and whether you are a retiree or SSDI recipient. Here’s a breakdown of the average and maximum monthly Social Security payments for 2024:
| Beneficiary Type | Average Monthly Payment (2024) | Maximum Payment (2024) |
|---|---|---|
| Retirees | $1,920 | $4,873 |
| SSDI Recipients | $1,539 | $3,822 |
Retirees generally receive $1,920 per month, while SSDI recipients average around $1,539. High earners who worked for 35 years or more may qualify for the maximum payments of up to $4,873 for retirees and $3,822 for SSDI recipients.
Social Security Payments
To ensure that you are ready for Black Friday and the holiday season, here are some tips to help you maximize your Social Security payments:
- Plan your budget: Know when your payment is coming and create a spending plan that accounts for Black Friday deals and essential holiday purchases.
- Check eligibility for early payments: If you qualify for an early payout on November 1, it can give you extra time to organize your finances before Black Friday.
- Watch for deals: Many retailers offer discounts leading up to Black Friday. Keep an eye out for deals and start comparing prices early to make the most of your payment.
Whether you’re planning to buy gifts, treat yourself to something special, or stock up on essentials during Black Friday, timing your spending with your Social Security payment can help you stay within budget.
FAQs
When is the next Social Security payment after October?
The next payment is on November 1, 2024, for those who qualify.
Will I get my SSI payment early in November?
Yes, if you receive both SSI and Social Security, you’ll get two payments on November 1.
When is Black Friday in 2024?
Black Friday falls on Friday, November 29, 2024.
How much is the average retirement benefit?
The average Social Security retirement benefit is $1,920 per month in 2024.
Can SSI recipients shop on Black Friday with their payment?
Yes, many SSI recipients will get their December payment early on Black Friday.
