The Question
Social Security at age 64 or wait?Social Security at age 64 or wait?
I’ll be 64 in July, I work part time bringing home $1950 a month. Should I get social security now or wait. All my bills are covered with this income.
This is a question I see all the time. The limit you can earn without needing to pay back Social Security is $24,480. You are right there. I don’t know your entire situation, but from the information you’ve shared, I’d wait until you’re 67 (full retirement age) to start taking Social Security.
Now, if you have a minor child, it may be worth speaking with a financial advisor to see whether that changes the optimal strategy. In short, if you have a minor child at home, your minor child will also receive a Social Security benefit.
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