Finance
Why some Americans will receive an extra Social Security check in November
Ramsey Solutions personality Jade Warshaw breaks down how to get the most out of your Social Security check and more on The Bottom Line.
Some Americans will receive two Social Security payments in November due to a quirk in the system that results in a second monthly payment on rare occasions.
Typically, the Social Security Administration (SSA) sends out one payment each week, delivering Social Security checks on the second, third and fourth Wednesdays of each month. Then it pays Supplemental Social Security Income (SSI) – which provides support for disabled people and older Americans with low incomes – on the first of the month unless it falls on a weekend or holiday.
Because Dec. 1 falls on a Sunday, SSI recipients will receive two payments in the month of November. The first check will arrive on Friday, Nov. 1, while the second check will come on Friday, Nov. 29.
Roughly 7.4 million Americans collect SSI benefits. The back-to-back deposits do not mean retirees are receiving extra money – it’s just an early payment for the following month.
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Some Social Security recipients will get an extra check in November due to the calendar quirk. ((Photo illustration by Kevin Dietsch/Getty Images) / Getty Images)
Social Security recipients recently learned the size of the cost-of-living adjustment (COLA) they will receive for 2025, which will be smaller than this year’s.
The Social Security COLA for 2025 will be 2.5%, which is the smallest since 2021. That means Social Security retirement benefits will, on average, increase by roughly $50 per month starting in January, the SSA said earlier this month.
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The Social Security Administration’s schedule shows SSI payments will be disbursed on Nov. 1 and Nov. 29. (Photo by: Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images / Getty Images)
“Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool,” said Social Security Commissioner Martin O’Malley.
Next year’s 2.5% COLA is less than the 3.2% adjustment that Social Security beneficiaries received in 2024, but would be roughly in line with the historical norm, as it’s averaged 2.6% over the last 20 years.
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Social Security recipients will receive a 2.5% COLA next year, raising average benefits by about $50 a month. (iStock / iStock)
Inflation has cooled over the past year, which reduced the size of the COLA as the pace of price growth slowed.
“This adjustment means older Americans will receive needed relief to help better afford essential items from groceries to gas,” AARP CEO Jo Ann Jenkins said in a statement. “Inflation took a financial toll this past year, particularly on retirees, who often rely on Social Security as a key source of income. Even with this adjustment, we know many older Americans who rely on Social Security may find it hard to pay their bills.”
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Beneficiaries saw an 8.7% increase in 2023, which was the largest since the early 1980s, due to surging inflation that had peaked at a 40-year high of 9.1% in June 2022.
Dario Amodei, Anthropic CEO, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 21st, 2025.
Gerry Miller | CNBC
Anthropic is in talks to raise a $3.5 billion funding round, significantly more than the amount previously expected, CNBC has confirmed.
The round would roughly triple the artificial intelligence startup’s valuation to $61.5 billion, according to two sources familiar with the deal, who asked not to be named because the details aren’t public. Lightspeed Ventures is leading the funding, with participation from General Catalyst and others, the sources said.
The financing, which was first reported by the Wall Street Journal, signals continued investor demand for top-tier AI companies, even in the face of potential disruption from China’s DeepSeek. Anthropic is backed by Amazon and Google, and had initially set out to raise $2 billion, according to a source.
Anthropic declined to comment.
The company’s last private market valuation was $18 billion. Amazon has poured $8 billion into the startup.
Anthropic was founded by early OpenAI employees and is the creator of the popular chatbot Claude. Earlier Monday, Anthropic released what it says is it’s “most intelligent AI model yet. Its so-called hybrid model combines an ability to reason — or stopping to think about complex answers — with a traditional model that spits out answers in real time.
JPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.
Dimon was asked by CNBC’s Leslie Picker whether he supported efforts by Elon Musk’s Department of Government Efficiency. He declined to give what he called a “binary” response, but made comments that supported the overall effort.
“The government is inefficient, not very competent, and needs a lot of work,” Dimon told Picker. “It’s not just waste and fraud, its outcomes.”
The Trump administration’s effort to rein in spending and scrutinize federal agencies “needs to be done,” Dimon added.
“Why are we spending the money on these things? Are we getting what we deserve? What should we change?” Dimon said. “It’s not just about the deficit, its about building the right policies and procedures and the government we deserve.”
Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that’s not legal, “the courts will stop it.”
“I’m hoping it’s quite successful,” he said.
In the wide-ranging interview, Dimon also addressed his company’s push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.
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