Are you sure you want to delete this post?
When should you file for Social Security if you have a young child?
This is a q&a discussion that I thought brings up a very good point about a way to look at taking SS benefits early, as opposed to full retirement age.
One quote from the article that I think stands out is:
Realistically, money earned today is worth more than money earned in the future.
This discussion is about a woman wondering if her husband (64) should retire at 66 or 70, and how the math works out. She is 46 and they have an 8 year old. She was also wondering about the offsetting benefits for their daughter.
The ultimate advice was to take the benefits early. But the finer details were to basically sit down and do the math, and try your best to assume all the variables, like how much will your husband earn either way, if he were to live to say, 90. And how much would your child benefit now vs waiting, etc etc.
Makes me think even more now that taking benefits early is a more viable path over full retirement IF you find yourself in a situation like this one. Definitely recommend reading the article.
Also, anyone here considering early vs full retirement age that is in a similar situation? What's your take on this?