The Retirement Newsletter: Quarterly review — end of quarter 3 2023
Issue Number: -16 — How’s it going?
Welcome
Welcome to issue -16 — sixteen weeks until my planned retirement date and this could be my penultimate quarterly review.
This is the ninth review:
Quarter 2, 2023: Issue -29: Quarterly review
Quarter 1, 2023: Issue -42: Quarterly review
Quarter 4, 2022: Issue: -55: Quarterly review
Quarter 3, 2022: Issue -68: Quarterly review
Quarter 2, 2022: Issue -81: Quarterly review
Quarter 1, 2022: Issue -94: Time for another review
Quarter 4, 2021: Issue -106: How is my retirement plan going?
Quarter 3, 2021: Issue -120: Time for a quarterly review
It doesn’t seem possible… so how are things going?
End-of-quarter review
My last review was at the end of quarter two, 2023, and the summary for that review was as follows:
Job — I’m still sticking with it. There are problems, but I will ride them out.
Health — a recent change in the treatment of a long-term condition has made me realise I need to retire sooner rather than later.
Life — as I said last quarter, I must keep working on this aspect of my plan.
Money — the inflation rate is worrying me, but I can do nothing about it. I have some protection on parts of my pension that increase in line with inflation, but the current inflation rate means my investments are effectively standing still.
And now?
Job
I have had what I can only describe as a ‘hellish’ start to the academic year. I am ‘fire-fighting’ on far too many fronts and trying to do the job of several people. The sad thing is, I can’t do my best at the part of the job I enjoy the most — teaching — as there are too many other things I have to deal with.
Has it always been this bad?
I don’t think so.
Part of the problem is we are short-staffed, plus we are experiencing a ‘pivot’ in teaching that I would describe as being worse than when we had to move everything online at the start of COVID-19.
And the cause of the ‘pivot’?
AI — Artificial Intelligence.
All of a sudden, the assessments we have run for years are no longer ‘safe’ as a student can get a good mark with the careful use of an AI. We have had to become experts in AI and review all our assessments. This has been a lot of work.
Anyway, I have only 16 weeks to go until I can escape all this madness.
And maybe that is the problem. It could be that the start of this academic year has not been any worse than any other year, and the approaching (hopefully) green pastures of retirement make it feel worse.
I suspect not. It’s been a stinker.
Health
My health is still of concern, and the new treatment I mentioned in the last review is not helping with the job situation — a lack of energy. I don’t seem to have the drive and energy I had six months ago before I started the treatment.
The good news is that I am either tolerating the drug better or getting used to the side effects. I also suspect there may have been an unintended interaction between a multivitamin I take every day and the drug. Evidence? The pharmacist suggested I not take the multivitamin on the day I take the drug. I stopped the multivitamin and my side effects seem less. Good news.
The other good health news is that the drug does a fantastic job in helping my health issue, and I feel a lot better. I would describe the drug as miraculous if there were no side effects.
Life
Same old issues…. No change. I must work on this one.
Money
I am not a financial advisor. I am writing about what I have read over the years about money and preparing to retire. This is not financial advice.
As I mentioned in Issue -19: What did I learn from my Pension Wise meeting? I was left with three things to do:
Track down a lost pension — I didn’t hold out much hope for this; it was a long time ago, and a tiny pension.
Speak to the tax people to find out why I seem to be missing some contributions to my pension. One part of the government website says I am fully paid; another section says I am short by three years.
Find a financial advisor.
So, how am I doing?
Track down a lost pension — I have tracked down my lost pension — it doesn’t exist. I had so little invested, so the money was sent into my state pension.
Missing some state pension contributions — an interesting story. I spent a couple of years working overseas for a former employer. During that time, they kept money from my pay packet to pay my state pension contributions but did not pass it on to the government. Sneaky. I have approached them about it, and they said — tough.
Find a financial advisor — nope, I have not done this yet.
In addition to the above, I recently received an annual report on how my pension is doing, and it is better than I had hoped. But, I am still worried about inflation.
Please note I am not a financial advisor. I am writing about what I have read over the years about money and preparing to retire. This is not financial advice.
Summary
So, my penultimate summary:
Job — my job is proving challenging. The start of the academic year is always hard work, but this year feels like the worst. Only the thought of sixteen weeks to go is keeping me going.
Health — things are good. I still need to drop a few pounds (well, if I’m truthful, a lot of pounds) and get fit, but overall, I feel good. I’m tolerating the drug, but I wish I could regain my energy levels.
Life — life issues continue much the same. There are some minor improvements, but it still needs work.
Money — my Pension Wise meeting was very useful and I came away with an action plan. I had three points on the plan; I have actioned two and need to complete the third: finding a financial advisor. My recent pension report suggests my pension pots are doing well. But inflation is still a worry.
Overall, I feel good about things, and it’s full steam ahead.
Travel — Nostalgia Corner
This week, some tales from a tour of some of my favourite restaurants in Johor Bahru, Malaysia:
Malaysia — Johor Bahru — Restaurant Changman 常满, 24G, Jln Bestari 5/2 (Taman Nusa Bestari), 81300 Johor Bahru, Johor, Malaysia — Dim Sum for lunch — how could you go wrong? I used to love going to this place for lunch. Great Dim Sum.
Malaysia — Johor Bahru — Breakfast At 7, Jalan Skudai, Johor Bahru, Johor, Malaysia — The best way to start the day. This was one of my favourite weekend treats — a Sunday breakfast of curry. Yum!
Malaysia — Johor Bahru — Monsta Café, Taman Nusa Bestari (157, Jalan Bestari 1/5) — An unusual place and my favourite iced coffee in Johor.
Malaysia — Johor Bahru — Piedra Negra Mexican Restaurant, 107 Jalan NB2 2/2, 81300 Johor Bahru — It seems odd going out for Mexican food in Malaysia, but this was another favourite of mine.
Malaysia — Johor Bahru — W.W. Laksa House 水塘路辣沙, 6A& 36A1, Jalan Kolam Air (Taman Water Works), 80100 Johor Bahru, Johor, Malaysia — My favourite Laksa house in Johor Bahru. This was another excellent breakfast place, but you had to get there early before the Laksa ran out.
Looking back at all those posts has made me hungry for the food I used to get in Malaysia.
Next week, I will share more stories from my time in Malaysia.
Useful links
UK Government Website:
Next week
Next week, in issue -15 — Ten things I think I will miss about not working.
I wonder what will be on the list. Can you guess?
Thanks
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Until next time,
Nick
PS, If you want to contribute something to the newsletter — a story, advice, anything — please get in touch.