Monday, October 08, 2012

Nine pay days to go

As I count down towards retirement, there are a number of things to focus on - either things that need to get done or "last" actions on the career front.

Last month I focused on where and how to invest the last ten pay cheques. I am currently looking at a property in New Zealand that comes up for auction later this month. It would not be the best investment in the world, but I would regard it as a good long term store of value.

I had previously told some close relatives about my intention to retire soon and was met with the "you'll be bored" response. If I am bored, I will be extremely disappointed with myself - quite frankly I am more worried about running out of life before I run out of things to do.

I have now told three of my closest work colleagues. The general reaction was along the lines of "you'll miss the income". And they are right - I will miss the security of a regular pay cheque hitting the bank account each month. It's reassuring to know that there is more money coming in each month than is going out. But the bottom line is I don't need it and I really really do not want to spend any more of my limited lifespan accumulating money that I do not need. Put differently, so long as I do not end up sleeping on the street, I would regret spending more time at my desk far far more than I would ever regret missing out on some more money. And it's definitely an "either-or" choice. I can't have both.

In any case, while there have been some attempts to dissuade me, people have accepted that I will be moving on. A wider announcement will not be made until much nearer the time.


Anonymous said...

I have never been to New Zealand though I am sure it is a wonderful place and I would like to go some time. A large part of the reason for not going is cost - whenever I seriously consider going there (from HK) for hiking or climbing I always end up going to one of the far cheaper parts of the world (one time Switzerland ans one time Scotland).

Highly unscientific (like the Economist's Big Mac exchange rates) but NZD seems to me to be one of the world's more overvalued currencies and not somewhere I would consider for a long term store of value at current exchange rates. But as I've said, Ive never been there so take this with a bucket full of salt.

Anonymous said...


Thanks for the comment.

I agree that New Zealand is expensive (although still cheap compared to Australia or the UK). I've been hoping it will fall for some far in vain.

I'll be spending more time there once I retire and feel that having an extra property there producing some rental income will help protect me against the possibility that the NZD will keep rising.

Also, Auckland's population is still growing and land supply close to the centre is limited - I expect that this will give some support to prices over the longer term.


Super Saver said...

Congratulations. I'm sure you'll enjoy retirement. Reverse aging is the first thing that happens. Most retirees look 5 years younger in the first year :-)

Anonymous said...

Super Saver

Thanks for the comment. Certainly looking forward to bringing my career to an end.


Paul said...

Hi, just accidentally stumbled across your blog and I'm pleased I did. You've given me a lot of ideas for budgeting and portfolio management. Good luck with the retirement plans!

traineeinvestor said...


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