Increasingly thinking about retirement

At the age of 49, I am increasingly thinking about retirement. Whilst the official retirement age in Australia was raised from 65 to 67 a couple of years back, I expect the official retirement age to reach 70 by the time I get closer to retirement age - that particular government policy has already been discussed. That gives me 11 years to add to my retirement balance despite my modest employment income to improve my quality of life after 60.

I do use the term official retirement age somewhat loosely, that is when I will qualify for a government pension. That is closer to 22 years based on the official retirement date. But like everything, this is means tested; this is a government analysis of your assets and I expect to have generated enough personal wealth to not qualify for a full government pension and I don't look like qualifying for a part pension either.

I am what they term a net tax payer, whilst a large number of working Australians pay income tax, after such deductions such as family benefits A & B, child payments, any pensions or welfare payments, only 40% of the working population actually pay more tax than their deductions.

However, I have sacrificed my personal finances and standard of living to put aside a substantial sum every pay period to finance my retirement. I will qualify to gain access to my personal retirement fund once I turn 60 and I am going to do just that. I would be mad to keep contributing to a scheme that has a cap on the total balance.

I would be smarter to start drawing it down in a manner that enhances my quality of life instead of remaining in the workforce for another 7 years, aging further and diminishing my chances of international travel and adventure while I am still in reasonable health.

We have a crazy system that the hardest and most productive workers pay the most whilst the section of the population who contributes the least receives the greatest benefit. Americans would be appauled at such a system and while my politics are somewhat right of centre, I am somewhat of a closet socialist. I believe we should have a safety net as a compassionate society to assist those down on their luck through no fault of their own.

We shouldn't promote a welfare dependent society who only takes and doesn't give, if you can't work because of a disability or injury - then that is what welfare payments are for. If you are too lazy to work then you should receive nothing after a certain period of looking for work, that includes not only attending interviews but receiving feedback from prospective employers about reluctance to work.

I have spent a whole working life never drawing any benefits from the government, even in retirement I will not be costing the taxpayer any money to support me and I will still be paying tax on the funds I pull out of my retirement account. But I will not be employed full time either, I will be getting up when I feel like it, doing some exercise before my morning coffee and then working out how my day will pan out.

My plan is to do in a country where my retirement dollar goes further and the quality of life is good. I want to live overseas during the Australian winter and return home in the summer - I am looking forward to my modest retirement.

Is gin making a comeback?

I like gin, I have been a gin drinker for a long time, but to be honest, I don't drink a lot of gin. Yet I am still going to reach for a gin based drink given the opportunity. Is gin making a comeback? I certainly hope so.

What I am noticing in Perth at least is gin bars are popular again. One of the more famous movie lines was Humphrey Bogart playing Rick Blaine was "of all the gin joints, in all the towns, in all the world and she walks into mine" in the Warner Bros classic Casablanca. Despite the excellent gin options available, I'm not much into cocktails and prefer just a gin and tonic, a fairly ordinary choice really. With winter coming to an end, the days are getting sunny again so it is time to head out for a little sunshine - roll on summer.

Retiring overseas

With now just a little over ten years left until I can officially retire on my self managed superannuation fund, I know living in Australia full time is going to be way too expensive. I have friends living overseas throughout South East Asia and although I don't want to limit myself to Asia, I view their circumstances with interest.

I enjoy summer in Perth so I fully intend to spend the summer months in Australia, that does increase my costs as I have to maintain a residence in Australia for a whole year whilst also paying for accommodation overseas. That being said, I am looking to travel whilst still active, as I age my mobility is expected to decline somewhat so I need to retire earlier rather than later.

So at age 60, I should still be fit enough to travel on a budget as there is still so much I want to see and do and require a relatively active body to enjoy such a retirement lifestyle. I am really looking forward to retiring and starting the next phase of my life.

What's the point of working right up until you are too old to enjoy it. I understand the need for belonging and working purely for the enjoyment of achievement. However, I am more than willing to forgo future some income for lifestyle, you have to enjoy life now and not look too far into the future but still follow a solid plan. 

Hillary's Explorer

Did a newly minted Rolex Explorer prototype make it to the summit of Mt Everest in 1953 on the wrist of Sir Edmund Hillary and Tenzing Norgay? The general conscious is it did, but has the advertising of Rolex actually acknowledged this historical fact? We conclusively know that Buzz Aldrin's Speedmaster Professional made it to the lunar surface in 1969; Neil Armstrong's Speedmaster Professional was never actually worn on the lunar surface and was instead intentionally left in the lunar module due to the failure of the Bulova mission timer.

The Explorer was released back in 1953 and Rolex has heavily promoted the rugged appeal of the timepiece with plenty of alpine and mountaineering photo shoots in printed advertising material. What we do know is that Rolex sponsored the 1952 Lambert expedition whilst Hillary's expedition was led by John Hunt. Chief sherpa Tenzing Norgay was part of both expeditions, that is an historical fact that isn't in dispute with the Lambert expedition in 1952 getting to within 200 metres of the summit before they were forced to turn back.

As the mountain was conquered and opened up to subsequent expeditions; plenty of Rolex Explorers have now perched over the highest point on Earth on the wrist of well funded mountaineers. No doubt, so have many other timepieces. But the question remains, was the Explorer prototype there first? There may be evidence to conclude Hillary wore an Oyster Perpetual with a leather strap on at least part of the expedition.

There is some discussion as the Explorer was released in the year of Hillary's feat; this might not be an issue as Hillary could well have worn either a prototype or first release. The concept and prototype models would have been well advanced by this stage at any rate regardless of actual release date. However, Rolex implies in it's advertising that the timepiece went to Mt Everest but doesn't actually mention the actual feat in their advertising.

There is some discussion that Sir Edmund Hillary may have actually wore a timepiece manufactured by English watchmaker Smiths. If this is true, why has the marketing of Rolex promoted not only mountaineering but implied Hillary and Norgay wore an Oyster Perpetual on their wrist on the summit and possibly perpetuate a myth. The truth is, I don't know but I do find it interesting to speculate on why they don't seem to directly mention that a Rolex was on the wrist of Hillary and Norgay on the summit of Mt Everest in 1953.

Magpie swooping season begins

Those bastard birds are at it again, it's spring and magpie swooping season is in full swing again and no one is immune. We are all a legitimate target in the eyes of magpies - stay away from our nests. We won't be climbing any trees to get anywhere near their nests - but there is no negotiating with an angry magpie.

You are walking down the street or riding a bike and hear the woosh of wings behind you, it's spring and the magpies are protecting their nests from any and all possible intruders. Whatever you do, don't look around, children have lost sight in one eye, those beaks are sharp and the impact is brutal.

With GoPro cameras, we are seeing some pretty decent pics and video footage of attacking magpies. As kids going to school walking across the park, we would carry sticks to wave over our heads to keep the magpies at bay. These days, magpies are photographed and videographed in attack mode and we don't try to whack them with sticks anymore - they are still annoying though.

Jeepney rides - they just aren't fun

The jeepney is a third world mode of transport reminiscent of a bygone era. Whilst I hate them, I am also cheap so this is my selected mode of transport in the Philippines, especially in provincial areas.

One of my most common jeepney rides is when I head down to Anilao from Manila, this saves paying for a private car ride. Catching a coach style bus from Buendia station to Batangas Grand Terminal sets you back about 150 peso and takes approximately two hours.

On one trip, there was a video on board with a Manny Pacquiao v Miguel Cotto fight replay. The guy is, of course, a national hero so his triumphs are routinely telecast. Heading into the twelfth and final round, the program was changed to some American NBA rubbish depriving me of witnessing the third and final knockdown of the fight - I would have to say, that was my most frustrating ride.

Arriving in Grand Terminal, then it is time to board the jeepney, they jam every one on board and won't leave until they fill it. This could take over an hour jammed inside waiting with bags and dive equipment, a total waste of everyone's time, yet no one complains and they just accept it.

A crampy and bumpy ride ensures sucking in exhaust fumes as the outlet pipe isn't routed properly, this could take an hour leaving the passenger feeling sick - what a ride. However, what I like about the jeepney is their cheapness and being able to ride in a vehicle with common people, yeah, they don't complain and just get on with it - that's what I like about riding in a jeepney. 

Starting a business or getting an MBA?

Getting involved in small business, you get involved in marketing, you get involved in accounting, you get involved in strategy and you get involved in sales, it goes without saying that you get involved in public relations.

We all know you don't need to have an MBA to start a business, there are no legal requirements and plenty of people are engaged in small business enterprises without university qualifications. So should a person take on the effort and expense of this post-graduate qualification?

Firstly we need to look at age, current earning potential, time lost from work, opportunity cost and tuition fees. Then we need to take a good hard look at the school offering the MBA qualification, its reputation, quality of instruction offered and entrepreneurial programs the institution offers.

The younger you are, the more opportunity you have to earn the costs back but this is counteracted by the less management experience encountered. The reputation of the institution is important insofar as venture capitalists are attracted, industry experts brought in and the mentoring potential in terms of quality of industry experts.

In an entrepreneurial business venture, the development of ideas that are peer reviewed in venture labs by students, industry experts and faculty staff. One imagines a through analysis allows review of the idea will result in reworking the plan to get exciting ideas off the ground.

The Stanford Venture Studio and their Startup Garage, INSEAD's Centre for Entrepreneurship and the IE Business School Area 31 are programs  Stanford's venture lab holds weekly meetings with business founders, venture capitalists, industry experts and faculty staff to develop new ideas.

Business plans are developed from prototypes, value creation is analysed and the idea tested and peer reviewed with input from faculty members and industry experts. The current crop of start-up businesses revolve around e-commerce and developing online platforms.

A number of leading universities are strongly promoting entrepreneurship as coursework opening labs where ideas are floated and refined. If you have a good idea and you peer review the business plan with input from industry experts, you could easily seek a return on the investment far exceeding the opportunity cost of staying employed.

A 2015 Upper Reach Tempranillo

Staying home on a Saturday night, I decided to crack the top on a 2015 Upper Reach Tempranillo and I was pretty happy I did. These days you can't pop a cork, but you can certainly crack a screw top.

I am a pretty big fan of Upper Reach so I'm pretty confident bringing a bottle home from their Swan Valley winery. Not that it is an issue as cellar door sales includes tasting so you already know what you are getting. Checking the Upper Reach tasting notes, they tell us this has perfumed notes of cherry, berry and a hint of tomato leaf.

To be honest, I have no idea what this means as I can't say I have ever eaten tomato leaf, but what I do know that this turned out to be a reasonable drop. Tempranillo is a Spanish style well suited to Western Australian, namely Swan Valley conditions as a lighter to medium bodied style wine - I like it. 

The Longines 2018 HydroConquest

I love following watches and Longines is a favourite mid-range timepiece that has sparked my interest. They are a solid timepiece, reasonably priced, have plenty of history and have plenty of support through a large distribution network.

I was looking to purchase a HydroConquest about two years back, I like the watch but I thought something was lacking, I stayed true to Longines and purchased a Conquest. Similar to the Conquest, the band with triple lock clasp is great. I like the dial more than the Conquest with the nine numeral added. But I knew in a year or two a ceramic bezel model would come on the market and I would be unhappy with the model I had. That time is now and had I purchased a HydroConquest then, I would be unhappy now.

Like the previous model, 41 mm stainless steel case has a screw-down case-back and screw-in crown maintaining the 300 metre water resistance rating. The crown guard is pretty distinctive for me as with most Longines sports watches. Like most high quality sports watches, the scratch resistant sapphire crystal has layers of anti-reflective coatings to reduce glare.

The L888 automatic movement is the ETA 2892-2 powerplant operating at 25,200 vibrations per hour with a respectable 64 power reserve. For me, the most distinctive feature is the new ceramic bezel, whilst a new feature for the HydroConquest range, it is welcomed. The ceramic bezel is highly scratch resistant, doesn't lose its colour and is reasonably hard. Why Longines waited so long? I don't know but I'm glad they have upgraded the HydroConquest and I like it.

The Earthrise on Christmas eve

The Apollo space program left us with an array of memorable photographs from their lunar missions. The difficulty is how to decide what was the best photograph of the program? Is it astronauts, rockets, the collection of space craft or the lunar surface?

For me, I find it hard to go past the Earthrise taken from Apollo 8 as the command module orbited the moon on Christmas eve of 1968. I wasn't born yet so for me these achievements by NASA amaze me, I wasn't able to follow these space flights during the height of the space race. Amazingly, no country or space agency has the capability to return people to the moon more than fourty years after Apollo 17 in December 1972 - that's insane.

Apollo 8 was the second manned space flight of the program with Commander Frank Borman, Command Module Pilot James Lovell and Lunar Module Pilot William Anders as the first manned spacecraft to leave low Earth orbit travelling into the gravity field of another celestial body. The command/service module made 10 orbits of the moon and was only the second Apollo mission to carry crew into space after the Apollo 7 mission just 2 months earlier.

These manned missions were to build to the lunar landing of Apollo 11 in July 1969 with Apollo 9 launched in March of 1969 and only a couple of months later Apollo 10 in May of the same year. What I find amazing is the rate that NASA was launching Apollo missions, I can only imagine the frantic activity at Cape Canaveral during this period. The space race was flat out, that's for sure.

Overtaking on a crosswalk

I viewed this unusual situation, I was waiting at a crosswalk and there was a number of people using a crosswalk. A woman was waiting in her car letting people cross when the guy behind her became aggressive driving around her stopped vehicle crossing onto the wrong side of the road to get through.

People had to get out of the way, he was accelerating through the crossing whilst people were still in the middle of the road. Had he have struck a pedestrian, he would be automatically guilty of a traffic violation. I would have hated to see a pedestrian in such circumstances, this was really a reckless act that had the potential to seriously injure a person. Naturally I'm glad this didn't happen, people really need to think about the consequences of their actions.

Transitioning to retirement - well maybe

The question of retirement in Australia has been made all the more difficult by the poor policy decisions of the Turnbull government to change superannuation strategy for the purpose of budget repair.

Let's not forget that the idiotic policies of the Rudd and Gillard governments led us down this route of fiscal instability where budget repair is now required to return the budget to surplus and start paying back the mountain of debt now accumulated. In 11 years when I turn 60, will I be able to transition to retirement?

These idiots running currently running the country seeking both personal and political power over the best interests of the inhabitants had better start working together to ensure the working class are looked after - in other words, the taxpayer.

Whilst we haven't had a technical recession in 26 years, we have had a number of economic slowdowns resulting in plenty of personal economic difficulties. While this hasn't destroyed the personal wealth of working class families wholesale, plenty of individuals are feeling economic stress and any chance of retiring early have been smashed. Will my personal transition to retirement run smoothly when I turn 60?

I am unsure and whilst my personal finances are currently reasonably robust, these constant changes in government policy to not lead to stability allowing individuals to plan for retirement and remove the burden from the publicly funded pension system. Naturally the political class have no such concerns, their generous taxpayer funded retirement packages are off limits.

The 2018 Omega Diver 300

The Baselworld Watch and Jewellery Show is the premium watch exhibition held in Basel Switzerland where the latest horological designs and upgrades to existing designs are on display. The new Omega Diver 300 will be available in boutiques in August 2018 - so I guess I won't be seeing one in the flesh for a while.

For the 25th anniversary of the Seamaster Diver 300, Omega has updated their entry-level diver model, this is also the 70th anniversary of the Seamaster range so an upgrade was always on the cards. Sized slightly larger than previous Diver 300s with the 41 mm case, a larger 42 mm case houses a the METAS certified master chronometer co-axial Calibre 8800 automatic movement updating the 2500D movement.

The standard blue three hand timepiece reference 212.30.41.20.03.001 or black reference 212.30.41.20.01.003 has been expanded with a grey dial added but I can't say I like the look of the grey dial.

What I loved about the previous model is the dark blue lacquered dial on the 212.30.41.20.03.001 reference or jet black 212.30.41.20.01.003 reference, my choice is the blue. I don't like the new laser etched wave dial, but that's just me, I never liked the wave dial on earlier models either although they were pretty popular among watch enthusiasts.

I will admit I do like the laser etched wave dial on the black version, that is good. The Omega logo on the previous model really pops as it a separate piece, the new version appears to be painted on the dial and lacks the depth of older models.

The Calibre 8800 is a great improvement, many argue the METAS certification is really an Omega internal certification and they have just renamed a series of tests but that's not entirely true. The METAS labs are open to any manufacturer wishing to gain extra certification.

One expects the brands within the Swatch Group to be the main certification volume, I can't really see competitors increasing costs by undertaking extra tests unless a solid marketing gain might be gained.

Plenty of people like the new model, I am certainly impressed by the mechanical specifications but can't get into the wave dial or the clunky helium escape valve. Despite my initial apprehension, I think the 2018 model will be popular with Omega customers.