Social Security update: Second round of January payments worth $4,873 goes out in one day

The second round of January Social Security payments, worth up to $4,873 for top earners who retire at 70, will go out to the next group of retirees on Wednesday.

Retired seniors born between the 11th and 20th of a month should receive their first payment of 2024 on Wednesday, Jan. 17. Those born on or after the 21st of a month will receive their payments on Jan. 24. Those who were born on or before the 10th of the month should have already received their payments.

The age of recipients at the time of retirement, the amount paid into Social Security, and the number of years paid into the program all affect the maximum payment retirees can receive. However, payments largely depend on the age at which recipients retire.

The highest amount that
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