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skiddingtowardsretirement

semi-retiring, work life balance, lifestyle block living

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retirement

Lockdown

New Zealand went into lockdown on Tuesday last week. The last time I was in lockdown was for five or so weeks last March/April 2020.

It is weird living in lockdown – almost other worldly. Where we live the traffic is always light; it is now even lighter. Working from home, mask wearing, social distancing, bubbles and sanitizing are the words of the day.

In spite of its challenges, this lockdown has completely removed any doubts I have been harbouring about retiring early. Indeed, it has categorically demonstrated that it is the right thing for us.

The fact is my enthusiasm and self-motivation levels have increased significantly this last week while at home, even though I am working remotely. I guess rolling out of bed at 7.30 instead of 5.45, and the no travel means I am not exhausted by the end of each working day.

Certainly this weekend, besides the never-ending cleaning and washing, I had the energy to finally start stripping the wallpaper in the kitchen, a job that I have put on the back burner for months. I also made bread, baked a slice, went for a walk, and spent quality time with the grandchildren in our bubble. I also managed to finish my book, and start on a new one. Bliss!

Bread – didn’t know if was going to be successful as yeast was old!
Wallpaper stripping – an OK job when you get into swing of it

The garden beckoned too – truthfully, I have ignored it since I started back full time 21 months ago , but this weekend, I rediscovered the itch to get my hands dirty working in it. Pity I ran out of time, but I now know that when I am no longer time poor, I will be out there getting it back into shape. Hallelujah!

Early retirement will mean we have to watch our dollars a bit more, but the man and I have no doubt whatsoever that the pluses of a more satisfying and balanced lifestyle makes this sacrifice absolutely worth it.

Roll on retirement.

Time to hang around the fire pit and toast marshmallows. The teenage grandson camped in the tent.

Putting the house in order

Having publicly committed to retiring in the New Year, I am getting my house in order.

This means making decisions about what we need to do to make our retirement work well for us. I have therefore got a list and a budget – a true Virgo, right?

My list started off with many grand things including recarpeting the house, recurtaining the bedrooms, a new fridge and a tent for copious camping trips. I have subsequently rethought this and the list is no longer an absolute, rather it can now be described as ‘a work in progress’ with items being added, taken away or parked.

The changes I have made are sensible ones, I think. I have decided against recarpeting – the carpet is fine and I am just bored with it. I also want to replace it with wool (it is wool now) and that is not cheap. I will therefore do it in a few years when most of our retirement savings can be accessed. The curtains – well, I have washed them initially in a bit of bleach, followed by a rinse and two out of the three sets are perfect again. The other one? A sad story really that would bring a tear to any house proud person’s eyes – suffice to say, I will buy new ones!

The new fridge? Well, I have purchased one after much research (how big, what make, energy rating etc etc) and it is looking mighty fine in the kitchen. The power bill has also reduced which is an added bonus.

The tent for our NZ trips has been relegated to the ‘decision pending’list. I will keep the $$ aside for it in the budget.

New additions to the list include a cat door with a microchip so our kind neighbour can feed our moggies, rather than every cat in the neighbourhood when we are away adventuring. I have also factored in some maintenance including the three yearly septic tank clean and new glasses for me.

Meanwhile, I am saving hard for this early retirement lark, albeit I am fast coming to the conclusion that we will dip into our savings pot early if required so we can do the things we want to when we want to. Yes, life is short, and we don’t want to live with regrets.

Carpe diem, folks!

PS I have been told I can join the temp pool at the hospital where I work any time which is kind of nice, though at this stage this is not what I see in my future.

Retirement date

Yesterday I gave my boss the news I was retiring. I also gave her my leaving date: 7 January 2022. Yes, I will do the honorable thing and cover the Christmas break as I’d agreed to a couple of months back.

I am feeling happy and content with this decision; it is completely the right one for us.

Meanwhile, the man and I are mulling over the next phase of our lives. At this stage, we have a fair idea of what we want to spend our time on – family and friends’, travel (within NZ while Covid rages, overseas when it has been tamed), hobbies (some old, some new), pottering around our lifestyle block, and giving back to the community. We don’t, of course, know every detail or how it will pan out, but that’s OK, we will be flexible and allow things to evolve.

What we do know is that our retirement is going to be busy and satisfying, and the man and I intend to enjoy every single moment of it.

Roll on 4.30 pm, 7 January 2022.

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.

Blogging, R Day and mice

Two years ago I mothballed my blog. The man and I had made the changes we needed to have the life we wanted. On achieving this lofty goal, it was time to put my musings to bed, and let my readers get on with their own lives.

I did miss you though. And I did miss writing.

Two years on our life is (slightly) different from where it was then. I will explain later in this blog. There is also a major reset on the horizon, so it is time to blog again.

So what has happened since we left you? The man and I are still living on our plot of land. Three and half years into this life, we are still in love with our lifestyle; indeed, in truth, even more so. It has turned out to be the perfect fit for who we are and how we want to live our life. Even if we had an uninvited guest living with us over the last week!

Flatmate

Income wise, things have changed for both of us.

I had a back to the future moment. In October last year I landed a job at the local district health board library. To do this, I swapped my dream working part time scenario to being a 40 hour per week employee. It was a big decision, but the job is a fixed term contract of 18 months and it felt right. And it is right.

In summer we opened our bottom paddock to self-contained camper vans. We can have two on our property at a time and at $20 per night per vehicle, we view it as a chance to meet people as opposed to a cash making venture.

The man has also pivoted his woodworking business. Three Fish Woodworks now has an event hire division. This summer season it took off. Well, until that crazy killer virus hit! Over the period of a week, New Zealand went in fast forward through the Alert Levels into Lockdown, and we went from a healthy number of advanced event bookings to zip! Zero. Nil. It is what it is.

So what is the reset I am talking about? As I previously mentioned, my job is a fixed term. It finishes in May 2021.* Two months before this, the man becomes eligible for superannuation.

At the end of this contract I will join him in retirement (R day!). It is our time to do as we want. The man will get superannuation. I won’t. We don’t want to go into our retirement savings.

We will have to be clever to achieve this goal. Our cunning plan is to do this two ways : streamline our spending from now on to save as much as possible before R day, and put things in place to be more self-sufficient when we retire.

Our intention is that this journey to R day and beyond will be fun. We will explore options and experiment. And we won’t compromise the quality of our lifestyle. Please join us as we play with ideas and put everything in place for a great retirement.

  • My planning hinges on the fixed term contract coming to an end. If an extension was offered and in a post-Covid world, I don’t think this is likely, I would only want to work 16 hours per week. Work/life balance is all.

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