The other answers talk about what happens at the end of a PhD and in the first few years after the PhD. This is the wrong way to think about it. Instead, think about your entire career.
You did not mention your personal and academic goals, so I will focus on finances in this answer.
It is quite common for workers to earn more as they gain experience. Either their employers increase their pay because the experience is valuable, or more commonly workers are able to switch to a higher paying because they gained experience. PhD students usually see smaller increases in pay than other workers. In recent years, the increases have been well below inflation.
As an example, let us assume you work until you reach the age of 65. if you get $37,000/year as a PhD student in 2023 and finish your PhD in 2024 at age 30, at age 65 you might earn $110,000/year in 2023 dollars with 35 years of post-PhD experience. If you finish your PhD in 2023 at the age of 29, then at age 65 you might earn $110,000/year in 2023 dollars with 36 years of experience.
Finishing your PhD one year earlier will get you ($110,000-$37,000)=$73,000 in 2023 dollars.
Certainly the details will vary greatly between individuals. If you choose to adjunct teach creative writing for your entire career, your income may never go up. If you start a successful company immediately after finishing your PhD, the extra year might get you tens of millions of dollars.
Many of the enjoyable aspects of a PhD can be continued after you complete your PhD.