My Planning Experience: Financially For Retirement

My Dominant Influencing Steady Conscientious personality profile says I am a S and C personality with some D and I characteristics. And I am also a planner by nature, very much so when younger.

I had planned to take a postgraduate degree, have my first child (daughter), next job, second child (daughter and no more), my first $million (it came by God's grace), next house (stayed in 2 houses and 3 apartments in my life), further education for my children, my semi-retirement and "next or 2nd career", etc, till probably I am called home to be with the Lord. Planning is a very deliberate and important activity in one's life but so are the grace and blessings from God, and listening to His voice and direction daily.

Before I activated any plan, I would reflect on what I have done during the current period, whether I have fulfilled most of my responsibilities and commitments, what is the impact and risks to my family, to those around me and to myself. Then, I would calculate the risk, implement and manage the risk.

So, with my elder daughter off to college in Perth in January 2006, I started to look in greater depth on the financial aspects of my plan for semi-retirement, and my "next or 2nd career". I have in many ways started planning for this day some 10 years ago when I had my en-bloc sale in 1996, and again more so 5 years ago.

I had always wanted so much to experience whether I could make it "out there in the jungle" after almost 24 years with NUS. It was going to be a big leap of faith, trusting God in every little baby step I take, amidst much struggle and tussle between heart and mind in achieving new competency, skills, etc. I would be acting like an entrepreneur in certain ways, as I found out recently. No result means no income or S$0.

My confidence to walk out of my very interesting and respected appointment and job (you have to earn it though), that come with many varied and heavy responsibilities, umpteen duties and burdens was boosted very much by the fact that I had always consciously watched/moderated my lifestyle carefully, helped consistently through monitoring my expenses/revenue (from my income generating assets) since February 2006, and supported my strong mental, physical, emotional and spiritual "conditioning" over a long enough period of time.

In making a career switch at such a late part of one's life, one has to carefully consider, deliberate, calculate, rework, recheck, etc. with continuous, sustained efforts in order to be able to push ahead with what one aspires to do with the last few remaining stages of one's life. The management of financial risks for my dependants/myself that come with following of my heart's desire brings along fears and the need for a very great change of mindset, especially critical as one can never turn back again after the decision to move on is made.

So, after settling my younger daughter comfortably in college in Perth this year, I began to consider when I should move on to my semi-retirement and 2nd career. I drafted my resignation letter in one hour toward the second half of March, contempated on the actual date of giving notice taking into consideration the amount of leave outstanding and the best time to resign for me and the office. I had to prepare my wife mentally for this significant step which I would be taking, constantly assuring her that the family is financially able to continue as it is and that there would be no change to her lifestyle but except mine (only right for me to do so since I wanted to make a move).

We sold off our second car (3-yr old Toyota Altis) 2 months before my last day with NUS, took the NUS/public bus during serving out my notice after the final push to resign came in early April 2007. (I now take the train/public bus to wherever I have to go these days, unless my wife leaves her car to me which is quite infrequent). I had planned to send in my notice on 2 May 2007, giving the office 2 month's notice and enough time to find a replacement even though one month's notice is the norm. Till today, I have heard that no replacement has been found yet or that the office is in more urgent need to fill or replace other positions.

Somehow, I had the assurance of God, as I had never ever regretted my decision to resign and semi-retire even during my notice period from April till June and also up to this day. I felt relieved, though sad to leave as I had gained much respect and trust of many colleagues, from the low to the high of the hierachical ladder of NUS. This was very much confirmed when I received a 50% reply response to my farewell email which I sent out to all those colleagues/partners whom I have known/worked with. I had also been treated to more than 20 farewell lunches/dinner. How I managed to "stuff" those good food in such a short period is still a puzzle to me till today. I really treasured all these people whom I know over all these years, be whether they are nice, easy or challenging to work with. After all, is not life all about relationships, how best we could understand each other and work well with one another, despite our many different personalities and preferences. I still think of these relationships, my friends and colleagues even after I left, now almost 2 months already.

May God bless them abundantly and may they continue to find joy in their work and life. As for me, I press on and look ahead, with the assurance of God's presence beside me.