Social Security update: Second round of July payments worth $4,873 goes out in four days

The second round of July’s Social Security payments, worth up to $4,873 for the highest-income earners who retire at age 70, will go out to retirees in four days.

The second round of payments is set to go out July 17 to beneficiaries born between the 11th and 20th of the month.

Social Security payments almost always begin on the second Wednesday of each month, then the third and fourth Wednesdays to the next waves of recipients.

The date on which someone receives a payment corresponds to the day of the month the retiree was born.

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Retirees born between the 1st and 10th of a month received their payments Wednesday, July 10. The final round of payments goes out on July 24 to beneficiaries born on or after the 21st of the month.

The amount one receives in a check depends on the age at which one chooses to retire. Retiring at 62 years old, the youngest age, allows someone to receive up to $2,710 per month. Delaying retirement to age 70 can allow one to receive up to $4,873 per month, according to the Social Security Administration.