Falling back and not collapse

"... when you retire.."

I attended a talk about my pension. There were some changes suggested by the USS (the pension fund manager), and it is beneficial to attend. There were some changes made to the early retirement age, which will later be adjusted upward, obviously not benefiting people like myself who will retire a lot later, but to my colleagues such as GB, who also attended the talk, he will not be affected. Indeed, he said that making the decision to retire early was the most liberating decision he ever made and he won the applaud of the audiences immediately.

Knowing GB as I do, I understand his career path in the academia is different from mine. He is living across two different systems, which like most, and hopefully not me next time, who appear not to have done enough to catch up and adapt to the change. His promotion, for example, becomes more difficult and expect a lot more at the same time. The speciality he belongs to, is not quite a popular as in the old day, and you can imagine what that would do to a person's morale. What also known to many is that, GB is currently taking care of his wife, who suffered from a stroke few years back and stopped working. In fact, sometimes I saw GB with this wife in her wheelchair doing his grocery shopping. I can tell he is a very good husband, taking care of his wife up to the fine details.

After the pension meeting, I have a little chat with GB and ask him how his manage his pension. He told me, since his wife was disabled, there had been huge claims from her pension and that supported a lot on the financial ends. Therefore, he has taken out about 83% of his income into a AVC scheme, where the contribution from is deducted before tax each month, that way you avoided paying huge tax bill. He also put some of the deductions into other low risk account. I understand GB's kids are all grown up and leaving home and leading their life, but GB is independent. On one occasion, he told me, though it may sound horrible, if the worst were to happen to his wife, he had it all planned up financially and will be all ready to get on to lead a new life. I thought that was reasonable, as he was supporting his ill health wife anyway.

GB amazes me in many ways. He is almost 60 year old and he keeps going. It is interesting because we only known one "insurance" in life is life partner, but GB let me see and think beyond. Falling back and not collapse. Yes, with a pot of pension in place, what else to worry. Surely we would want as much as possible for the pension, millions or something, but I guess it's the organisation of the finances. It's a simple rule applies to all and I see another important trait in GB, he seems to start with "being self-sufficient", ensuring his survival first, which is important, and which I think he will achieve that, and anything else comes along becomes a bonus. It seems like the sort of thinking I found familiar, combining desire, expectation and happiness. This perhaps also works when I retire, helping me live a sufficiently fulfilling retirement life.

Buying what you need or what you like?

"..this is hard, especially facing attractive bargains!"

I had never been this relaxed. I have been enjoying myself over the past few days. Finding myself on top of things and able to focus on doing light hearted stuff in an organized way, and not letting too much work stuff get in the way, which is unlike me, but it's a good thing. I am relaxing and I am also focused. At least I had tried and I achieved an acceptable level of mindset. So, today I carried on with my list of unfinished tasks following from yesterday. Well, now I am looking at bargains.

I collected quite a number of shopping vouchers of a few high street stores, amounting to more than £100. Among these vouchers I have, Tesco has the most creative way of appealing to the customer. You can actually exchange for 2 times the amount of vouchers you have on hand. For example, a £5 vouchers might qualify you to purchase something worth £10. I thought it's really brilliant. Obviously, Tesco restricts on the type of goods you can buy and also there is a deadline for doing so. I have about £15 worth of vouchers from Tesco and find that it might be worthwhile to get a new mobile phone. I have used my current one for about 4 years now, I think. I didn't feel I want a smart phone, but don't mind a new one with a QWERTY keypad, and also have some Internet usage. I found one known as T-mobile Unity Black, which I like, but found that I can only use £10 of my vouchers, instead of the total £15 I have. This means that I need to pay another £19 in top of that to pay for the price of £39.07. Then I remember I have some gift card worth about £20, but then didn't feel I want to use them, since the gift card has no expiry, and I can wait for more interesting offers later on.

I was struggling today because my vouchers have an expiry date and they must be spent within the next one year or so. Then I tried to look for other alternative T-mobile phones. I didn't find very many that suit my needs. At the end of it, I seriously asked myself do I really need another mobile phone afterall? Honestly, the current one is usable and what I really need is for my phone to be unlocked, so I can use SIM card if I visit Singapore next time. After some quick soul searching, I decided that I maybe will spend my vouchers on footwear. For example, sandal that I can wear in the flat or a watch, since my current one is not working anymore. I can go on without a watch, since the mobile phone has a timer too. Therefore I can wait, the watch is an option. Finally, I decided that I will go to Tesco tomorrow and look around for potential valued bargains and see how I would like to spend my vouchers.

If you like shopping, you probably confused what you like with what you need sometimes. However, if you like a bargain, just like me, it will be even more confusing, if you know what I meant. Well, let's just make sure we manage out finances well and not let it go out of hand too often, especially when facing bargains.

Marginal Tasking

".... If it concerns personal finances, take one step at a time, step by step and marginally, never go one step too far. Be ready and then you go, but plan early.."

It's the Easter weekend and this year there are two long weekends because Prince William is getting married next Friday. So, for most people, there are two weeks that you only work for about 2 days per week. It should not make any difference because this is also the University's Easter Holiday anyway. So, I made use of the relatively freer time to do some unfinished tasks I set to do. This is in line with what I considered to be the time that I "felt settled down". Since I got my double bed mattress, something I meant to get it sorted quite a while ago, I have been looking down the my list for others that need to get organized. This includes my personal finances. I have been looking at them closely, asking questions like, which bank account should I know allocate my saving to? what proportion of it? Should I consider a regular saving too? What about the MP AVC from prudential? should I consider that first before sorting out my saving plan?

I found these tasks increasingly become a chore the slower you get them sorted. You have to get them sorted as soon as you can, if not, you end up procrastinating them. I recently found a way to overcome that. I defined that as "Marginal tasking". This is a very simple method. What it requires of you is that, you need not sort things out all at once, give it a thought each time and do it bit by bit, and remember to follow up and eventually you will complete them. Today this is actually what I did. I plan this carefully, especially if this concerns your personal finance. For example, today I was not sure about what proportion of my saving should I put in a 3% online saver, should I put all or should I put lesser. I then find that what concerns me is the MP AVC scheme from Prudential. This is because I am not sure how much I want to put in that scheme. As MP AVC allows me to deduct my monthly contribution every month before tax, this affect your post tax disposable. However, I am also not sure about my financial commitment and urgency, etc, so if I put some amount in a 3% online easy access saver, and some in a fixed one year account, it may not be as sensible as it seems. Therefore, I am still thinking about this. I do feel like putting all 100% of my saving in the 3% online saver though. I feel "more secured" that way, though the interest will be lower than the fixed rate account.

I also planned to invest some in a regular saver. This will come out from the monthly post tax income, where the amount is dependent upon the amount I invest in the MP AVC scheme, which I guess I can decide a little later.At the end of my tasking for the day on this personal finances matter, I stated that my next task following on will be to read up the information about the MP AVC Scheme and what investment options they provide, and then sent email to the rep and ask for contact details if I am interested. I guess I really should not make decision too fast too soon, should be one step at a time, and the more the idea of "marginal tasking" rule applies. These are the things I spent part of my day thinking about. Saving in this case is a long term plan that has an effect on the final pension. I would rather be conservative and stable than being risky and taking one step too far. Sticking to the rule of living by the amount you get and be happy about it. I guess I can live with that, as long as it is stable and not too uncertain.

My double bed orthopaedic mattress

".... I am perhaps quite used to simple living, to the extent the meaning of "living standard" does not actually mean anything."

My double bed mattress arrived. This is really a "Big step" for me. I have moved to Loughborough for more than a year now, and have been sleeping on a thin but soft mattress. I was too lazy to get stuff sorted around the flat. One former colleagues told me it took her about one year to get settled down when she moved from Australia to Aberdeen. I guess for me, this felt like a time that I can consider myself "settled".

I did think for a while before I bought anything "bulky", just in case if I moved to another flat, be it rental or ownership of a new flat, I don't want to have too many baggage. Now I am more convinced that I probably will stay here for a while before I move again, so I go ahead to make some "bulky" purchases. Actually this should not matter. We can always ask mover company to help with the transport. However, I seem able to tolerate living with less. I am perhaps quite used to simple living, to the extent the meaning of "living standard" does not actually mean anything.

I had a chat with a good friend KA the other day. Like me, KA loves a bargain, but he understands the "quality" of life better than I do, and he knows when not to compromise on prices and when one should really just go for a bargain. He often shares with me what sort of stuff he considered as good quality and often proud to share with me his successful hunt. I really "seriously considered" the quality before I bought the double bed mattress. Now, I went for a double bed orthopaedic mattress. I did have a strange obsession to go for the bottom of the price for anything I buy. I need to remind myself time and again, I can live " a little better" and I still won't bankrupt. Perhaps that was a habit I picked up when I was little.

However, I didn't let this obsession affect me this time. For this orthopaedic mattress I bought, I could have just gone down to the bottom list of the price and get the cheapest, but I didn't. After some thoughts, I consider the quality and pay a bit more, and still a good bargain given it cost £99, compared to some on tescodirect for example, which could be as high as £120. This double bed mattress took up lesser spaces than I thought. It gives new opportunities to rearrange my room, and made me love it even more. I even tided up the little corner that I placed my baby laptop and bring in a huge stand-alone lamp from the living room and put it next to my mattress, so that I can read with the light on before I slept sometimes, without having to get up later and switch the lights off whenever I want to sleep. In any case, I felt "whole" again, as if I had cleared some of my "clutters".away.

There are a few things I should really get it sorted out, including personal finances and my pension. Purchasing this double bed mattress took one item off my list, and now I am looking down the list to clear some more......

Never Wrestle with a Pig

"... I can already relate to the title as I already identified a couple of "pigs" in my workplace."

This is a new book I bought today. The title, Never Wrestle with a Pig, is cool and I just only found out what it meant. Well, never fight with a pig because even if he won't win, he gets dirty, he is happy, but you would not. As they all say, we all have something new to learn everyday and I just had mine today. One might think where else would one apply such an idea? actually it's everyday life. This quote actually refers to certain type of people who never want to move on, refused to see the big picture and are just plain stubborn. This could be very hard-headed parents or strict headmaster. It's an addiction to them holding on to their thinking as they refuse to change. The truth is that they will extinct in no time, even if they don't they will increasingly become miserable.

Okay, so what is this book about? It's about your workplace. Have you ever come across people in the workplace who like to argue even on the slightest unimportant things? They just dragged you on and on, drained you down and down. So this is a book about how to behave so that every step is in the right direction to build your career or business

The tips from the book includes the following
* End your day on time
* People who say they can keep a secret usually can't
* It pays to overestimate your competition
* The best ideas cannot be stolen
* Know when to say "It's none of your business"
* Get paid for thinking rather than doing
* Time in front of the customer is the best time of all
* Be wary of unanimous agreement
* Not every budget deserves your respect
* Learn the art of picking up the check

Obviously it is up to the readers to interpret the message the author tries to convey in this book. I just had a chance to read two of the chapters. "Friends don't ask the impossible of their friends" and "Develop Genius for Friendship". These two chapters talk about friends in business/professional contact, what's the expectation and what's the consequences of outcome and how to deal with it. It also talks about how to build friendship, and what it means when "giving people favor".

I can already relate to the title as I already identified a couple of "pigs" in my workplace. WF told me dealing with those "pigs", one can only be as polite as possible, and hope that they get pass you as soon as possible.  Those "pigs" are not very active in research, but more in teaching and administration. They like argument in this sort of similar areas to prove and show their sheer importance and existence, but they are just not very value added. So I am sure this is the book that I will enjoy reading and finding it very useful. I will come back again in the future should there be interesting stuff to share. I can already see a chapter on "time management", a topic thousands talk about and with thousand ways to deal with. I am curious about the perspective of this author. Surely his style and his perceptions will make all the difference.

P/S: Oh I forget to tell you. This book costs me only £0.10, and which I got it from a Charity shop this afternoon, even cheaper than the £0.20 "happiness" book, all of good value and of course, good bargains. :D

"Happiness" is Cheap!

 "Yes and in fact, I just got one that cost me only 20 pence!"

Sunday is often a time that you feel "settled". It's a day you tend to do the washing, hoovering the flat, and get ready for the new week to come. So, Sunday's evening, after dinner time is the best time of the week. Normally, one of those "to do" list on my plate will be preparing for lecture, which I don't have to do this time as there is a 4-week Easter breaks ahead of me. Today is therefore relatively relaxed. I went for my swim as usual and then went to the public library and found a surprise book sales, all at 20 pence. I had a quick browse and found a book titled, "You can be Happy No Matter What" and I bought it.

This book is an easy-read. Perhaps it looks like another "self-help" book, but more importantly, I am interested to see what sort of "happiness" that this book is making out of. Honestly, who needs another self-help book when all that people talk about these days are "happiness" and "mindfulness". There's loads of similar stuff around and they keep on repeating.

I had a couple of other similar "self-help" book of this sort. They all central around the "happiness" issues. One of them talk about using the "mindfulness" technique, the other more creatively, taking the standpoint of "Time Management" to see how proper use of meaningful time can have "happiness" moment. When there are too many books written on the same issue, don't you think such "happiness" topic is becoming very cheap. Indeed, I just bought one that cost only 20 pence! Still, I guess it is interesting to read them and be aware of the style these authors adopt. Each of them see it from different angles, and similar ideas go round and round, each reinforces the other and when it reaches you, it just helped you gain a different perspective altogether and allow you to have your own conclusion about "happiness". If you know how to read a self-help book properly, you could end up gaining a lot more from them than most do! :D