The first round of July’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, will be distributed in eight days. Here is all you need to know about July’s Social Security payments.

The short answer to that is no. There is no such thing as the perfect Social Security claiming age. You can claim Social Security as young as age 62, but you're not actually eligible for the full benefit you've earned based on your work history until you reach your full retirement age (FRA).

If you happened to have been overpaid by the Social Security Administration (SSA), your check may soon be a bit smaller this month. See payment schedule.