Ask Terry Questions Social Security extra payment in my account this month

Social Security extra payment in my account this month

By Terry Savage on October 22, 2022 | Financial Planning / Retirement

I did listen to you on The Business Report with John Williams this past Wednesday. By any chance did you happen to find out what the extra payment was from Social Security? I received an additional payment of $207 last month but I do not know what it’s for. Any clue? Thanks!

Terry Says

I just heard back from SS late today (Friday). They explained that every year they review your earnings and see if there is an impact on your benefits. Then in October, they add up all the monthly adjustments and deposit them into your account at one time! Strange, but true!!

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