Been Getting SS for 3 months now, having trouble spending it. How about you?

[CincyDave]

Once again ..... I have No (Zero) issues with what to spend it on, just pulling the trigger to do so. After all the years od LBYM (B being Below) I am still having difficulty in changing my spending habits. I was wondering if anyone else here has the same dilemma.?

Nothing that says you have to spend it. If it doesn't feel right to you to spend it or give it away, just bank it. Maybe your attitude about spending will change over time or maybe there will be some larger ticket item you want down the road and you'll have the funds.

 

[ShokWaveRider]

Live in Hawaii.

I would if homes were not so prohibitively expensive for anything more than a shoebox.

 

[eytonxav]

We are helping DD pay her way as she returned to school full time to get a 2nd degree in nursing.

 

[Koolau]

I would if homes were not so prohibitively expensive for anything more than a shoebox.

If "living" in Hawaii is the key (the place not so important - just being there) one can find rentals for less than $2K. For spending quality time in a "home" environment, you are right. Purchasing a house or condo can be prohibitive. We did it the right way. BEFORE we had our kids (late in life) we bought and then leased out our town house. When we were ready, it was paid of. Pretty hard to go back and do that now if you're already retired.

I was so enamored with Hawaii when I first saw it, I saw folks living on beaches under a blue tarp - and I envied them. Thank goodness, sanity prevailed and we figured out a better way.

 

[Chuckanut]

Live in Hawaii.[emoji23]

`

I can’t imagine living in a state where I would have to take a boat or plane to get to another state. Worse, would be to have to take a boat or plane to get to another part of my home state. It sounds like a self-imposed prison term. But, it keeps people like me from further crowding your home state. Sorry, Koolau, that’s my view and I’m sticking to it.

FYI, I spent a lot of time in 2020 and even 2021 visiting the states near to me. State Parks, National Monuments, interesting smaller cities where Beaver Cleaver might live if he liked craft brews and good hiking nearby. Thank goodness for roads, high mpg cars, and hotel room points.

Back on topic…..

One good way to send money is to find something of interest you could never pursue during your working days for lack of time. Then pursue it.

I agree that spending money for the sake of spending money is not satisfying.

 

[Koolau]

`

I can’t imagine living in a state where I would have to take a boat or plane to get to another state. Worse, would be to have to take a boat or plane to get to another part of my home state. It sounds like a self-imposed prison term. But, it keeps people like me from further crowding your home state. Sorry, Koolau, that’s my view and I’m sticking to it.

I never take offense when people point out the negative issues with Hawaii (heh, heh, unlike some other folks here who don't like their state pilloried - you know who you are.)

In any case, it's true that Hawaii is the most isolated permanently inhabited place on Earth. Some folks get "rock" fever (or Island fever.) To me, it's worse than that. If any interruptions in ocean deliveries takes place, we have just 7 days of food on the Island! We personally keep a couple months of food just in case.

 

[TheWizard]

I never take offense when people point out the negative issues with Hawaii (heh, heh, unlike some other folks here who don't like their state pilloried - you know who you are.)

In any case, it's true that Hawaii is the most isolated permanently inhabited place on Earth. Some folks get "rock" fever (or Island fever.) To me, it's worse than that. If any interruptions in ocean deliveries takes place, we have just 7 days of food on the Island! We personally keep a couple months of food just in case.

In the old days, Hawaii had pineapple plantations, so folks could eat those during a month long embargo.
But those have been gone for decades now, to free up space for golf courses, resorts, and condos.

Still have cattle ranches on Big Island, so lotsa hamburger there...

 

[HI Bill]

In the old days, Hawaii had pineapple plantations, so folks could eat those during a month long embargo.
But those have been gone for decades now, to free up space for golf courses, resorts, and condos.

We still have Dole on Oahu, and they still grow pineapple for the local market. The plantations couldn't stay profitable when compared to the Philippines' pineapples. Same with sugar cane. It's just not profitable due to overseas competition. Most of the fields are fallow, and few have been build upon (my former Waikele condo was built on old sugar planation land, but most of the pineapple fields lay fallow.

 

[Koolau]

In the old days, Hawaii had pineapple plantations, so folks could eat those during a month long embargo.
But those have been gone for decades now, to free up space for golf courses, resorts, and condos.

Still have cattle ranches on Big Island, so lotsa hamburger there...

A lot of the pineapple fields on Oahu have been replaced by coffee and cocoa.

 

[cnocmmz]

I made a deal with DW. When we took our SS, we that we would spend it (All but 3 months to cover additional Taxes). We are having trouble spending it. We use it as disposable income. Our other income covers all our expenses and then some.

What do you do?

Give it to me, I’ll have no problem spending it

 

[The HalfBreed]

I take my extra income and tell my "fill in the blank" that, if they're funding their IRA / TSP/ 401K, etc and don't have a ROTH IRA, I'll match their contributions monthly. For instance, I have a child that invests for the 401K match at work at 5%, and we both contribute $115 Bi-Weekly to their ROTH IRA (I need to see the proof, so I'm on their account where it's withdrawn and I add to that). Works well, and has been for over 7 years now...

Otherwise, feel free to send your extra $$$ to my checking account.

 

[rk911]

You can always donate it to charity.

 

[zippy2020]

We dine out a lot, tip big (my mother was a waitress and that is a HARD JOB), and upped our charity donations. No need to give to family; they're all doing quite well on their own.

 

[anothercog]

I made a deal with DW. When we took our SS, we that we would spend it (All but 3 months to cover additional Taxes). We are having trouble spending it. We use it as disposable income. Our other income covers all our expenses and then some.

What do you do?

Buy a boat, or set the money on fire. Same difference.

Or buy better quality food, shop at Whole Foods.

Nice problem to have.

 

[anothercog]

I never take offense when people point out the negative issues with Hawaii (heh, heh, unlike some other folks here who don't like their state pilloried - you know who you are.)

In any case, it's true that Hawaii is the most isolated permanently inhabited place on Earth. Some folks get "rock" fever (or Island fever.) To me, it's worse than that. If any interruptions in ocean deliveries takes place, we have just 7 days of food on the Island! We personally keep a couple months of food just in case.

There always seem to be plenty of chickens roaming around. Almost like a free, super fresh rotisserie delivery service. Just need to provide the rotisserie.

 

[ShokWaveRider]

I curtailed my legacy habits and am now spending like a drunken sailor, but without a boat .... been there done that.

 

[RobLJ]

I'm 2 years away from taking SS at FWA. That will reduce our withdrawals from 5-5.5% to 3.5%. In 6 years when DW is at FWA, our withdrawals would go down to 1.75%.
So I've been encouraging to spend closer to the FireCalc yearly number. During COVID with no travel, we spent on solar panels, and EV and a PHEV but that was about it. Now we're doing the circuit around Mount Blanc in August and DW is going to Nova Scotia with her sister for her sister's birthday in a week. We're also supporting my 90 year mother and sister, and after the Parental Unit dies, my sister will probably need continued support, which is what it is.Charities will sop up the rest, and the 3 grandkid's college funds.
Basically SS in 6 years will pay for our required spending and the portfolio is gravy. When one of us dies, well, that will change the picture but not substantially.

 

[tomc5179]

IIRC, you are into cars. Get a somewhat exotic car.

Or, a Jeep Wrangler for rock crawling hobby. Jeeps are guaranteed to burn through some cash.....

 

[6miths]

you could contribute it to the "skyking is building a new house fund" and secure guest wing credits

Hmmm…. Puget Sound. Do you have some details on this?

 

[Koolau]

Buy a boat, or set the money on fire. Same difference.

Or airplane or race car or McMansion or his/hers Corvettes or...

 

[Out of Steam]

We got my wife's first SS payment and set off for a vacation in Alaska two months later.

I'm now starting to wonder whether I really need to run my current Subaru to 200K miles.

 

[rk911]

Or, a Jeep Wrangler for rock crawling hobby. Jeeps are guaranteed to burn through some cash.....

I second that idea. My new baby...

 

[ShokWaveRider]

If I were to get a Jeep, it would be a 2006 4.0L Sahara or Rubicon with a hardtop and a manual gearbox. Been looking at them for a year now but I want a rust free one under 100k. One of the BEST Jeeps ever made. I had a new one a couple of years ago and ended up selling it.

 

[Out of Steam]

If I were to get a Jeep, it would be a 2006 4.0L Sahara or Rubicon with a hardtop and a manual gearbox.

It's unfortunate that the move to FWD cars basically removed straight-6 engines from the market. Though I see that Mazda is attempting a revival.

 

[harllee]

If I were to get a Jeep, it would be a 2006 4.0L Sahara or Rubicon with a hardtop and a manual gearbox. Been looking at them for a year now but I want a rust free one under 100k. One of the BEST Jeeps ever made. I had a new one a couple of years ago and ended up selling it.

DH has a 2000 Sahara 4.0, manual, soft top. It is his baby. I hate it, rides too hard. He has been offered ridiculous amounts for it. Maybe we should start a Wrangler thread. The people who own those are like a cult. Jeep wave and all.