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Just got my 1st SS payment but still in a LBYM pattern
Old 04-04-2018, 12:46 PM   #1
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Just got my 1st SS payment but still in a LBYM pattern

Even though I have a pretty nice nest egg, I continued to live below my means. Now after 70 years, I finally got my 1st SS payment. It feels so strange to have this extra big monthly chunk of money coming in. Bad habits (LBYM) are hard to break.
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Old 04-04-2018, 01:04 PM   #2
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It's a tough burden to bear MJ, but I feel that you will learn, in time, how to spend your stash.


Congrats!
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Old 04-04-2018, 01:12 PM   #3
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Congrats on making it to the top of the pyramid... the SSA pyramid. I've got 13 more years before I stop contributing to it myself and another 28-32 before I too win the game.
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Old 04-04-2018, 01:25 PM   #4
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LBYM was a good lifestyle to get you there. Now it is time to reap at least a little of your rewards.
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Old 04-04-2018, 02:11 PM   #5
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Even though I have a pretty nice nest egg, I continued to live below my means. Now after 70 years, I finally got my 1st SS payment. It feels so strange to have this extra big monthly chunk of money coming in. Bad habits (LBYM) are hard to break.
Keep working on those bad habits!
(and congratulations)
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Old 04-04-2018, 02:55 PM   #6
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Itís nice to have the Eagle fly over and drop a golden egg each month. And itís wonderful when itís not even needed!
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Old 04-04-2018, 03:15 PM   #7
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Congratulations MJ! I seem to remember that our very own W2R started reaping the extra benefit of SS not so long ago. Like you, she didn't need it, but was pleased as punch to have the extra money coming in.

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Bad habits (LBYM) are hard to break.
It might help to think not so much in terms of breaking them, as gently stretching them a little, until you've established a new norm. It's a tough job, but someone's gotta do it
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Old 04-04-2018, 03:19 PM   #8
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Blow That Dough!
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Old 04-04-2018, 03:22 PM   #9
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I did this last year (at 62 not 70) and, like you, am amazed that somehow there is this cash showing up monthly, like clockwork, in my account. Enjoy, enjoy is my advice!

-BB
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Old 04-04-2018, 03:37 PM   #10
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Bad habits (LBYM) are hard to break.
You might wish to join the support group:
Blow that Dough! - 2018
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Old 04-04-2018, 04:07 PM   #11
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Blow That Dough!

+1

Waygu steaks!

And your local food bank/animal shelter/little league/scout troop could probably use any extra you can spare...
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Old 04-04-2018, 04:09 PM   #12
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Thanks for the positive encouragement. I feel like I just came out of a TD meeting (Tightwad Anonymous).
Full disclosure. Last October, my wife and I did take a 48 day trip to Italy, France and Spain so I am not a TOTAL tightwad. I must admit, I tried to keep my daily hotel bill to average of $75. That took a lot of work.
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Old 04-04-2018, 05:01 PM   #13
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Not there yet. FRA is still five years out. But honestly I still cannot wrap my head around the fact that at some point a check will miraculously be deposited each month.

What a wonderful concept, which I hope continues for the foreseeable future!

Congrats, it is a milestone not everyone gets to: both 70 and having waited to get SS.
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Old 04-04-2018, 05:18 PM   #14
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LBYM was a good lifestyle to get you there. Now it is time to reap at least a little of your rewards.
+100
I have the same problem-I have to talk to myself once in a while. I use DW's favorite quote, "Do we need it for groceries?"
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Old 04-04-2018, 06:46 PM   #15
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Fixed Pensions should cover the vast majority of our ER needs (ie early 50s now).

As inflation erodes the buying value of the pensions, SS at age 70 will be a nice infusion.

-gauss
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Old 04-04-2018, 07:12 PM   #16
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Congratulations on the SS check. That is pretty cool just like free money. LOL

I Know your pain of trying to break the habit of LBYM. That is a very hard habit to break.
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Old 04-04-2018, 07:12 PM   #17
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Fixed Pensions should cover the vast majority of our ER needs (ie early 50s now).
-gauss
Absolutely! Between 2 SS and 2 pensions, we net about 70K, which covers most of our expenses. Since we have cut way back on travel, it cuts our WR way down
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Old 04-05-2018, 12:06 AM   #18
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SS and pension checks coming in still feel a bit surreal. We don't have to work yet still get paid - what is not to like about that! Add in investment income and we feel very fortunate.

We continue to live below our means as well because we enjoy it. We still go out a lot and eat healthy. We look for bargains when we shop and buy event tickets - scoring the bargains is half the fun.
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Old 04-05-2018, 08:00 AM   #19
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Congratulations on the SS check. That is pretty cool just like free money. LOL
Free? Nah, more like finally being rewarded for all the years of hard work since most people (and many employers) typically has paid into the fund for a long, long time and then had those payments held for many years before finally tapping into a payment stream.... def not free.

But kudos to OP for finally reaping their rewards.... hope for them to continue to draw for many, many years...
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Old 04-05-2018, 08:42 AM   #20
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Congrats! I will get there in less than two years and am looking forward to it. Maybe at that point I will quit worrying about the cost of a new pickup I have been wanting for way too long.
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