How retirement ‘brought me a new level of financial independence’

Retirement brought me a new level of financial independence. As a teacher, I paid into the state super fund which guarantees me a lifelong pension.

It’s a good place to be in.

When I was married and had lots of little kids around me, money was a constant source of worry. Mainly, I never had enough of it. So, like so many, I borrowed on credit cards and got myself into all sorts of situations where banks loved to call and embarrass me with requests for outstanding payments.

For ten years before I retired I was able to take control of my finances. My children had grown up and become financially independent. I was able to save extra money to cover the debt from my marriage.

From my superannuation, I was able to pay out my mortgage and so own my house and have no debts in that regard.

From the experiences of my former years I told myself I would never have a credit card and so far, I have stuck to that.

I like the fact that each fortnight an amount of money comes my way and it is mine to do with as I see fit, although bills have a nasty habit of turning up and dictating where my money goes.

As I live in an old house, my family home which I’m told goes back to Federation times, I have spent some money on giving it a make-over and, more importantly, making the place look more mine than my late parents’.

I had a son-in-law living close by at one time and being the handy fellow he is, he and I (well, mainly him) pulled out our 1947 bathroom and made it a tad more modern. I have been able to do up all the bedrooms, give them a coat of paint and refresh them each with new carpets.

I’d like to think I have spent my money wisely. I have done to the house what I could afford to do.

Having some money upon retirement has also allowed me to travel, to Japan and Europe. I always think it would be good to travel some more, but finances being limited you have to make decisions that benefit you, and I feel I have done that.

As a friend of mine has told me on more than one occasion, “money is made round to go around”. I try and do that, make it go around.

IMPORTANT LEGAL INFO This article is of a general nature and FYI only, because it doesn’t take into account your financial or legal situation, objectives or needs. That means it’s not financial product or legal advice and shouldn’t be relied upon as if it is. Before making a financial or legal decision, you should work out if the info is appropriate for your situation and get independent, licensed financial services or legal advice.