Diary of a self-funded retiree: Entry 13

This is the thirteenth entry in our retirement diary, where I've been sharing how my wife and I are adjusting to life after full-time work. Previous entries have covered everything from our investment strategy and retirement budget to spending time overseas, working part-time and managing our SMSF.  

Diary entry 13: What's changed over the past few months?  

It's been a few months since my last diary entry, so I thought I'd start with an update on what Jane and I have been up to, how part-time work is going and what's changed in our finances and investment portfolio (not much, as it turns out!). 

What have we been spending most of our time on? 

This period, from June to September, is usually when we spend time visiting family and friends in Europe. Jane left Australia in early June to attend the wedding of the daughter of old friends in Majorca. The couple both live in Sydney, but destination weddings still seem to be all the rage.  

I left a little later, as "part-time" work got in the way (more of that below), to spend time in Majorca and play some golf in Scotland. I got back in early July, and I must admit, the weather here has been pretty good for the past few months. 

Our eldest daughter moved in with us for the month of July before she headed off to New York, where her husband has a job in one of the hospitals. It was lovely spending time with our grandson, who is 18 months old and is at that receptive stage where everything is interesting. It did take a while to tidy up the mess after they left! 

I'm heading to Scotland soon for some golf, then flying back through New York to visit them. 

What's been happening at the golf club? 

Regular readers may remember that I was honoured to be elected president of my golf club about a year ago and I was looking forward to giving something back to a place that is almost a second home to me. So far, it has been a pleasure to help the club, though it has taken a bit more time and thought than I expected. 

There are a number of projects going on, and we have just had our AGM, which takes some time to prepare for. The upside is being invited to play at other clubs. I also get plenty of thanks from my fellow members, so I must be doing something right. 

I have enjoyed waking up on my part-time days off and having something to think about at the golf club. It adds structure to my week and gives me a sense of purpose. If I wasn't involved with the club, I am not sure what I would do to get the same feeling - maybe volunteer with a charity?  

How is part-time work going? 

I am officially working three days a week, though there is quite a lot of give and take around that. One of the advantages of the golf club is that mobile phones are not encouraged on the course, so I don't look at emails on my "days off" until I have finished. It is surprisingly relaxing not being able to check my phone for a fixed period - I think I will try to have longer periods of mobile phone cold turkey! 

Work has been busier than usual, as InvestSMART is in the process of selling a portion of the business to another listed company, which we announced in May 2026. I am part of the due diligence team, so it takes up a fair bit of the work week.  

Otherwise, I enjoy spending a couple of days in the CBD as I always bump into someone I haven't seen for a while, and it is good to see the team in the office. 

Have we made any changes to our investment portfolio? 

For this latest entry, I took another look at our portfolio and, interestingly, very little has changed since my last update in March. 

I have considered swapping some of my global share ETFs into currency-hedged versions, but that would crystallise a small tax liability in our SMSF, as we are not yet in pension mode and the gain would still be taxable (more about that below). The currency would need to move by more than 10% to compensate, and I am not sure that will happen. It is something I will keep an eye on.  

I have watched my small gold allocation go up and down and maybe back up again. We have it because it makes me watch the gold price action, which can give a clue about what is happening in global markets.  

On a personal level, we are again reviewing our high-interest cash deposit accounts, largely because a couple have recently changed their terms so that we don't receive the bonus interest if we make a withdrawal during the month - a bit sneaky, I think.  

Has our spending changed? 

Our spending has been fairly consistent, though we are in the market for a new car and might buy an electric vehicle. The longest trip we have made in the past 12 months was to the Southern Highlands - about two hours or 120 km from Sydney. Other than that, it's 12 km to the golf club or nine km across the city to see the children, so an electric car makes sense, and one with a bi-directional battery would probably suit us best.  

The other big expenses are the usual - house maintenance, airline tickets and golf club membership. So far, we have not had to spend much on health issues, but that will happen eventually. 

Is there any tax planning we can do this year? 

We still haven't moved any of our SMSF into pension mode, which would put those assets into a tax-free pension bucket. My part-time income and income earned on assets outside the SMSF give us enough to cover our living expenses, while our existing super balances also limit how much more we can contribute. So, for now, there isn't much additional tax planning we need to do, other than keep an eye on any proposed government changes to super. 

My top tips 

• Plan how you will spend your extra time in retirement. There is always plenty to do, but having activities that give you purpose can make a big difference.  
   
• Consider whether part-time work could help ease you into retirement. It might not suit everybody, but it can provide some structure to your week.  
   
• Don't expect your spending habits to change overnight. You may still eat out and travel, just at a more leisurely pace.  
   
• Plan where your retirement income will come from. Having different sources of income to draw on can give you more flexibility.  

What's next? 

I'll be writing updates every three months or so, giving me a little more time to enjoy my retirement. If there are any topics you'd like me to cover in future diary entries, leave a comment below or send your suggestion to support@investsmart.com.au. And thanks again for reading.  

You can read entry 12 here.