If You Have a Disability and Live With Someone Else, this is the Last Check You Will Receive on Wednesday, Dec. 11

On December 11, 2024, Social Security beneficiaries born between the 1st and 10th of any month will receive their final payment of the year. This includes individuals enrolled in retirement and disability programs. However, this check will not yet reflect the 2.5% Cost of Living Adjustment (COLA), which takes effect with the first payment in January 2025. This payment concludes the 2024 Social Security distribution schedule for this group, offering beneficiaries an opportunity to plan year-end expenses and prepare for changes in the upcoming year.

Eligibility Requirements for the December 11 Payment

To qualify for the December 11 payment, beneficiaries must meet specific criteria, including:

• Enrollment in a Social Security retirement or disability program.
• Birthdate falls between the 1st and 10th of any month.

The Social Security Administration (SSA) organizes payment schedules based on birth dates. Individuals born outside this range will have already received their December payments earlier in the month. Staying informed about these dates is vital for managing finances effectively and avoiding potential budget issues. In cases where a payment is delayed or not received, beneficiaries are advised to contact the SSA promptly to report the issue and resolve any discrepancies. Timely action can help avoid financial disruptions during the holiday season.

Social Security in 2025

While the December 11 payment does not include the upcoming COLA adjustment, it marks a critical moment for beneficiaries to assess their finances and prepare for changes in the new year. Starting January 2025, Social Security payments will reflect the 2.5% COLA increase, helping beneficiaries maintain purchasing power amid rising living costs.

For context, here’s how maximum monthly payments are projected to change:

• Retirement or Disability Benefits: From $3,822 in 2024 to $4,018 in 2025.

The COLA adjustment is calculated using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) and ensures that payments align with inflation. This annual adjustment is crucial for supporting beneficiaries who rely on these funds to cover essential expenses.

Financial Planning for a Smooth Transition

The December 11 payment offers an opportunity to reflect on 2024’s financial outcomes and prepare for the year ahead. Beneficiaries should review their payment schedules and familiarize themselves with any updates to the Social Security program to ensure financial stability.

By staying informed and proactive, beneficiaries can effectively plan their budgets, manage essential expenses, and transition smoothly into 2025 with confidence.