Hello I have a big financial decision and I have to choose today...
I can take my social security now at age 64 years old. I will still be working for several more years. I would receive $1030 now and every single month.
For the rest of my life I would receive: $1030 each month starting now.
Or
I can wait until November 2027 and I would receive $1480 every single month. If I take this option I would not receive anything until November 2027 at aged 67.
For the rest of my life I would receive: $1480 each month but it would start 3.5 years from now.
I am a grandmother. I have enough money to live but this extra bonus would be nice to spend on my grandkids and live a little bit better life.
What is the best choice or how should I go about deciding what is the best financial decision to make?
original posted by BrokelynNYC to r/personalfinance on Mon, 15 Apr 2024 04:42:26 GMT.