Principled money posts of the week #5: pensions, saying ‘no’ and choose Scrooge not Santa

Another weekend brings entirely different concerns. There is a joke about the UK, which many British people don’t seem to know or remember. It is about the newspapers, several decades ago, publishing a report according to which ‘…because of the fog the Continent is isolated’. It seldom occurs to many people here that they may be isolated. Well, after last week’s events and the considerable political foresight and maturity demonstrated by our Prime Minister, the Continent appears to be isolated again.

Continuing along this line, this Sunday afternoon I’ll mention Cash Flow Mantra and his heartfelt statement on Europe Fatigue and Dividends . Yep, we are very fed up with this whole thing as well and if an apology is something that will make you feel a bit better – you have it. Very sorry to hear about retirement investment portfolio and the non-trend at the moment; this reinforces my current belief that most ways to save for the future are tricky. My pension is being hit as well albeit in a somewhat different way.

On the theme of retirement, something that I am thinking more and more about, this week I really liked a post on MoneyMing: Emily Guy Birken published a post titled 5 Things to Do at 50 with No Retirement Savings. Finally a well thought through post that doesn’t simply extol the wonders and power of compound interest but gives some great advice to older grownups (adults would be an inappropriate term here, I feel). Compound interest is great but it, like many ‘strong forces’, is universal; it works if one starts after 50 as well albeit slower and with the need of higher investments. But this is one of the beauties of getting older – people learn how not to waste and direct their energies (including their money).

Another post that made me think this week was published by Zero Passive Income in which Jeremy, in response to readers claiming that they can’t follow in their footsteps because of difference in income, clearly stated that he and his wife are ‘below average’ earners . It is nice to see young people who are so clued in and so determined; they act on their intentions and their dreams. My experience confirms that positioning oneself using only one number (in this case income) is pointless. Achieving financial health and abundance demands much more holistic approach.

Couple of months ago, I found myself so swamped with work (and I am on sabbatical) that there was not much to do than panic and look at all that had to be done rather than doing it. After giving it some thought I did two things: decided to (and started to) say no to every new project until Christmas and started working on one thing at the time and only after that moving to the next. And it works: I have almost cleared the decks so that from January I can tackle a new project and a very large one at that. Saying ‘no’ took some doing, though. This is why I was so intrigued to read what SB at One Cent at a Time had to say about saying ‘no’ at work . Do you want to know how it is done? Go read this post and you will be equipped to move a step further towards combining effectiveness and efficiency.

When it comes to piddling money away , I am with Derek from Bucksome Boomer. Most people piddle away considerable amounts of money most of the time. And they don’t even realise it; well apart from the obvious like cigarettes. Derek calls for ‘studying this budget’. I would suggest that you pinpoint your ‘spending blind spots’ by developing spending mindfulness and mastering your wants .

Money Crush sets out seven businesses that can be started for under $100 . Interesting but some of these are much more expensive (tutoring, for instance, is much more expensive taking into account the education and qualifications this needs).

And finally, something very close to my heart and seasonal as well! Suba at Wealth Informatics argues, and very convincingly at that, that gift giving is a huge waste which we will do well to minimise. I fully agree and this year am on a crusade to implement it – no one around me will get stuff they don’t need, don’t want and don’t even like.

This is it for today, my friends. Till next Sunday!

5 thoughts on “Principled money posts of the week #5: pensions, saying ‘no’ and choose Scrooge not Santa”

  1. LOL! 😀 Thanks for the mention. I don’t think that you personally owe me an apology, nor does Europe. It is still a nice gesture on your part, though, and is appreciated. But it would be nice if a trend of some sort could develop. I am sure that it will all pass.

    1. @CFM: I wish I had your certainty; in fact I am still rather concerned. But then again, there is nothing I can do about it so…let’s hope for a trend.

  2. When ever you try to get a variety of people to agree on something, you find out why they can’t. Unfortunately, the debt crisis in Europe (same as USA) affects the entire world.

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