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skiddingtowardsretirement

semi-retiring, work life balance, lifestyle block living

Month

June 2021

Shuffling into retirement

The man is now a Gold Card holder and is mighty pleased to be one. For those who don’t know, this means he receives a pension, or as a friend wittily puts it, he is now paid by the Government to breathe.

In relatively recent days – up to November 2020 to be precise – I would have been able to piggyback on his pension eligibility and receive one too if I retired. He, however, turned 65 in March 2021, so this door to early retirement funded by the state firmly closed to me.

When this change in eligibility was flagged, I wasn’t overly worried. The fact was I had only recently become aware of its existence, so I had never factored it into retirement planning.

Which brings me to my plans for retirement. I have plans to retire early. I have a date in mind where I will shut the door on a 8-4.30, 5 day per week job, and it is not too far away. To this end, I have worked out a retirement budget – thank you, sorted.org.nz. This budget is sensible – well I think it is! It reflects the changes in spending that happens in retirement e.g my day to day fuel bill will decrease substantially with no daily work commute, our electricity bill will rise, there will be no need to fund office clothes, even TradeMe purchased ones, spending for local outings, the occasional trip within NZ* and activities will increase. Yes, the budget has been worked out to allow the man and me a good lifestyle, with a bit of latitude factored in for those unforeseen expenses. Of course, the reality is we are not big spenders at the best of times, so that works in our favour, as does being mortgage and debt free.

Ideally, we don’t want to rely on the man’s Kiwisaver (private superannuation) balance* to fund our day to day living costs, but it will be our backstop if required – after all, we intend to enjoy this stage of life! Meanwhile, the man and I are saving as much as we can from our income to help fund the early retirement. We are also working to grow the small hire business we have – if Covid stays away, this should provide a welcome addition to our retirement fund.

Our plans for me to retire early aren’t just about getting the income sorted, we are busy getting our house in order too. This means replacing and renewing a few things: a new fridge freezer (our old one is on its last legs), a touch of decorating, and new flooring in kitchen and hall, plus a new gate to keep the sheep safe are all on the list. We have also upgraded my 21 year old car to a new Kia Stonic – the perfect jalopy for retired us to do our road trips.

After 45 years of working, retirement is just around the corner – and I must say, it looks grand!

*Overseas trips are off the agenda while Covid rages. When we feel travel is safe, we will fund it from retirement savings, rather than our sorted budget!

*I have Kiwisaver too, but won’t have access to it until I am 65. I will continue contributing enough to it to get the Government subsidy each year until I turn 65.

New to me.

Well into middle age, I discovered the pluses of buying second hand.

I remember school friends scouring the charity shops looking for pieces of funky clothing and other stuff in our youth. But I didn’t. In fact, I viewed this practice with horror – I mean, who had worn those clothes, or used that item before? No, siree, buying from a second hand shop wasn’t something the youthful me would be seen dead doing.

So I am totally late to the party discovering the pluses and joys of buying second hand. And as a true convert, I have embraced it and wholeheartedly recommend it as a way to get well made, and unusual things in excellent condition at a fraction of the price you would buy new.

My new-to-me haunts are the online NZ site TradeMe (a bit like Craigslist and Ebay, I think) and the charity shops.

I use TradeMe most often for work clothing. I am very organised about this: I have favourite labels I know work well for me. This means I know the size in each label that fit me and the cuts that work for my body shape. I also know they are well made, and use good fabric that will go the distance. The last sentence is very important to me as I buy items that are a classic cut that I will wear until they fall to bits. I also will buy shoes second-hand. Everything I bid on has to be in very good or excellent condition.

I am not a clothes horse type of woman, so each season, I buy only what I need. This winter I have bought two pairs of shoes (ballet flats and a pair of rollies).

New-to-me Rollies

These are replacements for the very expensive boots I purchased new a few years back and which are busy shedding the thin leather covering on the elastic gusset in a most unattractive and unwearable way. I also bought a skirt (VSSP). All items are perfect: both in condition and fit. This season’s new to me work items cost me $80 including postage. I have two more items I wish to buy for winter: jeans, and a MacPac jacket like my daughter has. I am looking on TradeMe for the jacket, but will buy new when it goes on sale if I haven’t sourced an excellent condition second-hand one before this. The jeans I will buy new.

Which brings me to deciding on how much to pay for an item. Items on TradeMe are sold by auction. Some will also have a buy now price. Postage is on top of this.

If it is an auction, I determine what it is worth to me and set this as the highest price I will pay. FOMO has no place in sensible buying (don’t get me started on house auctions!) If there is a buy now price and I think it is fair, I will purchase that way.

I have mentioned charity shops. The first item I purchased from an opportunity shop was a breadmaker. I bought it second hand because I was not convinced that after the initial enthusiasm for making bread had worn off, it would be used – it was after all a bit of a must-have fad at the time. The $40 price tag, therefore, worked for me, as did the breadmaker which actually did not gather dust and instead gave me many years of use. Still going, I gifted it to someone else when we downsized to move onto the boat.

The man, though, is the main user of charity shops in our family. He scouts them for old tools (hard to find) and for work clothing too. A woodworker, his uniform is plaid shirts and jeans. The shirts often get covered in varnish, stains and glue, so he is more than happy to buy second hand, knowing that they will become rags within the season. Occasionally he will buy a decent item of clothing he happens upon – often they are unworn garments that are other people’s purchasing mistakes. And the other day, he happened on a lovely lamp which now adds a bit of retro style to our lounge.

Buying second hand is not something only Ma and Pa Stone do. My youngest son and his wife are into it too, so for Mother’s Day, I received a set of Temuka Coffee mugs, circa 1977. Found on TradeMe, they match other Temuka I have from back in the day. They are also in perfect condition and I am thrilled.

Second-hand …. one of the best ways to stretch your money (or in my case squirrel it away for those early retirement plans), and at the same time own something a wee bit different. And, of course, the perfect way to recycle and do your bit to save the planet!

I highly recommend it.

Someone else’s problem

Last week the man and I packed the ute tray with ‘rubbish’ destined for the tip.

As we packed it, I thought about a comment I had read that throwing something away doesn’t mean it disappears, it just becomes someone else’s problem.

And looking at our throwaways, I agree. There was old flooring we had removed from our kitchen – this was a product that was made to look like wood but was in truth a cheap plastic (read oil-based) imitation. Over time, it had become chipped and there was nothing we could do to refurbish it.

There were three broken television sets. Two of these had belonged to a relative and had made their way into our dump pile, and the third one was our old one which after 15 years had finally given up the ghost. In addition to this, there were two dead printers from the same relative and my laptop that had died in one of those nasty computer death throes computers are known for.

We still have another load (at least) to go to the dump. This includes a tent that is old and rotten; a life raft and flares that are sporting expired expiry dates, and an inflatable dinghy that has lost its inflate bit.

In the main, the stuff we are dumping has been well-used and kept on life support for as long as we could. The same can’t be said for the expensive life raft or flares which have never been used but were bought for safety reasons and are to be dumped for the very same reasons.

We take some solace in the fact that the televisions, laptop and printers are being recycled, or should I say, some parts are : I have no doubt the non-recyclable parts will join the tent, inflatable, life raft, flooring and flares in the landfill. Here they will become someone else’s problem.

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