This page will help you with when you should apply for Social Security monthly payments, and how the monthly payments are paid out...
Should you start an early Social Security benefit - earliest age 62, or wait and increase that payment?
Will you take an early disability retirement?
Might you need a SS survivor benefit (if your spouse pre-deceases you)?
So many options, time to explore what's best for you...
Your Social Security depends on the your birthday alone (unless you started to draw Social Security before 1997). The payment dates have nothing to do with the type of benefit someone receives... only your birthday.
This page explains when payments are sent out for each group.
They started this in 1997 so that payments are distributed throughout each month -- and it's great as the banks aren't full of folks on the first of the month (like they used to be).
Cost of Living Adjustments
Social Security checks are adjusted annually based on cost of living. Beware: Medicare costs (after age 65) also increase and will reduce your increase.If you work while you draw Social Security, your benefit will be recalculated annually too!
Wendy's other site... because Aging Matters!