Just got my 1st SS payment but still in a LBYM pattern

[MJ]

Quote:

Originally Posted by bobandsherry 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.

+1
I also wanted to second bobandsherry's comment.
It is NOT an entitlement but was earned, contrary to what some elected officials rant.

[DatumPoint5]

Quote:

Originally Posted by MJ OP from MJ: 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.

Don't feel strange. The amount of taxes I pay each and every year could house, clothe and feed 10 or 15 families for the year?!?!? When I look at the amount of payroll taxes I pay each year, I like to think about the people in this forum to which my money is currently being distributed. I always smile because I am fairly sure I will also get my chance when the time comes for me to pull from the next generation. And on, and on........ Social Security, to me, was one of the brightest ideas America ever had!!!!

[H2ODude]

At 60 the first regular income started, the pension that I only became aware of as a possibility when I was about 50 (by being able to buy a big chunk of time for a big but quite worth it sum). Got used to living on it plus the <3% WR. Then got MC at 65, that saved us almost 10k a year. Then last year we did the file and suspend thing with SS, another 14k a year. Only thing left is for me to turn 70 in three years. That'll add another 16k or so.

It's all rather surreal. DF always warned that pensions were unlikely, and SS was always suspect. Hence always saved ~20% or so. Lost first long term job at 45, so much for the generous pension it offered. So kept on saving, went through several jobs and landed the one that when I read the fine print several years in was the source of the pension. Also, two nice inheritances fell our way. In spite of that we kept LBYM; I was fortunate that until the last few years I really had enjoyed the w&^k. We could live w/o the travel on the pension and SS; or the income from the investments. I never thought all these would materialize as they have. For someone who always worried about the money, it's quite a strange trip indeed. I know, blow the dough, but it's hard to find things/activities that are worth it to us.

[Perryinva]

Did anyone else get the constant feeling of some (rather slight, but there) anxiety when approaching a SUCCESSFUL retirement, because of the “Man, will I be pissed if I die or come down terminal before this lifetime work of reward pays off”? My worst nightmare is what I hope Bondi is not going through, to gamble and lose.

Its different than the anxiety of “Will I be able to retire comfortably?” Which is more the constant mantra over at C-D Retirement forum. There, envy/jealousy runs rampant from posters that are unsure of their retirement success at all! Here, it’s much more a “heck, all I have to do is stay alive”. Where here, if we worked traditional careers we are typically looking at $25k to $40k/yr SS checks plus pensions and SWRS. (Or the really successful FIREs that are wealthy from their own efforts and SS is a minor benefit.) There,, they love to point out that most everyone only gets $12- 15k/yr, and having $300k saved is a “good” retirement!

So congrats on reaping the reward of what you paid in for so long and here’s hoping you live to 100 and blow the actuarial charts out of he water!!