A new round of Social Security payments will arrive this week for millions of beneficiaries, though the exact date depends on their birth date.
Why it matters: for many retirees, Social Security is a regular source of income that must be combined with personal savings and other sources to cover retirement expenses.
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On September 9, beneficiaries born from the 1st to the 10th will receive their payment. Then it will be the other groups' turn.
Those who received Social Security before May 1997 follow a different calendar. For them, the corresponding payment was made on September 3.
The payment arrives while another trend is changing the financial landscape for Americans preparing for retirement.
The data is positive because it shows greater accumulated wealth for retirement. However, there is a sign that deserves attention: the number of workers withdrawing money from their accounts also increased.
The combination helps put the Social Security payment into perspective: while monthly benefits provide income during retirement, accumulated savings serve as another backup for expenses that can extend over years.
