As the 2022 Retirement Income Review found, retirees were not maximising their superannuation. This is interesting, with most people retiring around age 65 and hopefully paying out their mortgage at around age 55, that gives them a decade to maximise their superannuation contributions and top-up their base superannuation to step up their retirement savings.

Based on what I have read, clients are signing onto retirement advisors when they close to or entering retirement, owning their own house with typically with about $1m to $1.5m in super and other assets. However, plenty are in a cold sweat from the very rational fear that they will outlive their retirement savings. If you own a million dollar property and have close to half a million in superannuation, then you are doing ok.

What we are now witnessing is retirees have died substantially wealthier than when they began retirement – imagine that. I read about a client who was substantially richer to the tune of two-and-a-half times after 25 years in retirement – not bad. That is what I will be seeking to replicate, having a retirement drawdown that is replenished by earnings. Since we have had compulsory superannuation in Australia since the early 1990s starting at 3%, moving to 6% and then 9% so plenty of us worked without cover for a while, but at least we have something.

Whilst this is an American model, does the 10:30:60 model work in Australia? Firstly, what is this model? 10% of your retirement savings comes from contributions during your work life, 30% comes from investment income during the accumulation phase and 60% of earnings comes down during the drawdown phase in retirement. The model was developed by Don Ezra at Russell Investments in 1989 when double digit returns were the norm during times of lower inflation.

Therefore, you need to have your investments set for growth even in retirement with some defensive earning assets such as bonds and fixed interest. The 10:30:60 rule suggests 90% of your retirement funds come from investments, is this really true? According to sources, a 15:31:54 split is more likely in Australia. Even with compulsory superannuation, if you can match employer contributions for a period of 10 years then you double your contributions for an extended period. This makes a massive improvement to your retirement account improving the final payout.

I do not want to wait until I reach age 65 to stop working, I want to travel again and enjoy myself, sure I will try to pick up some part time work to contribute to my retirement income. I certainly do not want to clock-on and clock-off and not be fully engaged in the job. I have a work ethic, but what I want is to disassociate my life from the job, this is something that I am not doing now. I can absolutely report that I will not be waiting until I am 67, the official retirement age where I can claim a pension, I currently do not qualify for the pension so I will have to wait a long time until I have drawn down my pension to a level where I can qualify for the age pension.

Whilst fears of longevity risk may be somewhat overblown, in Australia you can claim the pension when you have exhausted your retirement savings – you will not be totally without income. I do understand there is a proportion of the population living below the poverty line, there are homeless people and this is not always of their own doing. There are pressing concerns for the retirees, this is more related to health issues as they age, there are costs involved and they do have to be accounted for.

The drawdown will be higher in the earlier years, you are more active and get out and about, you drop the costs of travel to and from work with associated costs. People like to travel and they should, you have worked a lifetime and should now be supported by a system they supported in their working lives. As their superannuation runs down, they can claim a part pension to supplement their income, I think this is a fair system. Like many people, I may not be in a cold sweat but I am certainly concerned about the longevity of my retirement account.

The Equal Opportunity Commission in Western Australia is a government body to investigate allegations of discrimination. To qualify for equal opportunity representation, an individual must represent a minority group that may include racial groups, sexual orientation, religious beliefs, and women. As women make up around half the population, I would hardly call them a minority, but they have a mandate.

The Equal Opportunity Commission has two major roles, that is to encourage recognition including the understanding of the principles of equal opportunity. Laws without education do not end intolerance, prejudice and discrimination in our community, so training is a vital part of the Commission’s function. If a government body is required to intervene, there is already an issue so a proactive approach is required.

There is an element of acceptance required, either an individual or an organisation requires accountability, if they are aware of the potential of litigation, punishment or an adverse finding then they are less likely to engage in wrongdoing. The second is to provide a means of redress to individuals who allege unlawful discrimination. This is the big stick approach, an event has already occurred and requires action in the form of fines, punishment or prosecution. Hopefully it never gets this far, but we all know what really happens.

The first time I saw the Jarmara I thought this would not be a style I would be seeking. Then I looked at the watch again and thought I might reconsider. This is because the first Jarmara I viewed was the Reference 110.225 that had the fluted bezel and I thought this was a god awful idea.

With the reference 110.223, the case styling is much improved with the flat black bezel replacing the awful gold coated fluted bezel. The matte black centre link is supposed to match the bezel; however, I am not sure if it works. The black dial is good, I can see what they were trying to do here, there is good contrast. I really like the tonneau case that was popular in the 1970s, the smooth black bezel works along with the brushed case, I really like the machine cut finish.

The Formula One heritage of the Jarmara is based on the Circuito del Jarama on the outskirts of Madrid, the racetrack for the Spanish Grand Prix. This is a motorsport inspired timepiece, I did not immediately see it, however, the Heuer design principles of the 1970s was heavily influenced by motor racing, so it isn’t a big surprise here. The chronograph is a motorsport timing tool, this was a lap timing tool, they could also measure splits between vehicles to determine lead times or what the driver needed to do to catch up so this was a pretty important tool for race teams.

How could this happen? It doesn’t need to be like this. Let me elaborate, we had one staff member overpaid just over $42,000 over an 18 month period. He had four hours of overtime credited to his pay every week for that period. Now, he never actually booked this overtime, someone set up a recurring overtime payment in his account.

Also, I did this as an example of what is occurring at work. I have not posted this until I have had yet another director’s meeting so I could tell them what I did because I want to gauge their reactions as they would have no idea what was going on. The real question is, how much of this is going on? I have reported other abuses but these have been taken somewhat lightly. I am looking forward to this meeting, I should be a little nervous as they have called the meeting with the intention of pulling me into line because I am asking difficult questions.

I requested an agenda and they refused to advise me of what they wanted to speak to me about, that’s fine as I already have a meeting template of what we need to discuss. I should be nervous of a meeting where they won’t inform me of the reason, one suggests this is because they don’t want to give me the opportunity to prepare so I am on the defensive at every stage. So instead I have prepared an agenda of my own and I guess they won’t be happy with what I will be informing them of. That’s too bad as I have learnt from our previous meetings and it appears they haven’t.

After a trip down to Margaret River, we stopped at Fermoy Estate winery on our way through. This was the last stop on the way home before the two and a half hour drive, I had to be careful that my alcohol intake was minimal. I tried a couple of wines I don’t usually purchase, the 2017 Reserve shiraz is an outstanding example of Margaret River winemaking prowess. My choice was careful, so I decided on their Reserve shiraz as I wanted a premium drink and I wasn’t disappointed. 

I normally drink their cabernet sauvignon or their Chardonnay so this was an excellent opportunity to see what else they have on offer. I am glad I did the tasting, this was an opportunity to try something new. Ok, so what is special about the shiraz? Well, 100% shiraz with 18 months in mixed new and old French oak barriques and puncheons. Pretty bold with 14.5% alcohol, it can be cellared to 2030, not going to happen for me.

I am watching the Hamas hostage release unfold on my television screen, news bulletins and social media accounts. The enormity of the hostage release has not dawned on some, this is a significant moment in the Palestinian conflict. The Hamas media wing thought they could bring anti-sematic to western countries and whilst some bought this propaganda, most saw a bunch of terrorists losing another battle. If Hamas was serious they would have released the hostages earlier, the longer they fought, the greater the Gaza destruction.

naturally Hamas has turned this into a media spectacle, only four hostages released at a time under ģreat fanfare. Hamas is trying to tell the world they are strong and undefeated, there are masked Hamas fighters swarming around with little to no discipline. Israel also took on Hezbollah to the north and neutralised that threat and sent a pretty clear message to Iran when they started firing missiles towards Israel.

Gaza is in ruins, Gaza is now rubble so there is little for Palestinians to be joyful about, if they think they can sell this as a win then they may be believing their own propaganda. The people are returning to find their homes destroyed, if they think Hamas is the answer then they are sadly mistaken. Iranian funds were used to build tunnels to fight Israel, not build a better Gaza, Palestinians allowed this mob to lead them and they are now seeing the results of their poor decisions.

Vintage timepieces are staging somewhat of a renaissance in the horological community. Omega is an excellent manufacturer of quality timepieces and I constantly desired their products. As Omega has been around for so long, they have a multitude of watches for sale on online sites so there is plenty of choices for collectors.

The Seamaster Diver 300 is a wristwatch I craved, along with the Speedmaster and the Planet Ocean. I haven’t actually worked out the point when Omega timepieces became such an obsession for me, but I knew I wanted a current model to enhance my collection. My old man had an Omega Chronostop as his starting countdown timer when he was competitively racing yachts, after some research, I believe his watch is 1967 vintage. I sailed with him in the early 1980s and I recall him using the watch to set his start sequence.

Due to my age and inexperience, we were well off the pace back then so precision timing wasn’t really required. This is now my first vintage Omega timepiece and I am an interested in expanding my vintage collection. Further strengthening my exposure to Omega, a good friend purchased a secondhand Omega Seamaster more than twenty years ago. This watch still serves him well, so I guess I have had plenty of interaction with Omega products from an early age.

What I do know now is Omega is a premium product, this is a luxury brand and is now priced accordingly. I am seeing with watch dealers and online trading forums that vintage Omega timepieces are fetching very good prices. Omega’s range is fairly extensive with 60 years of the Speedmaster in its current forms; yet you are still able to purchase a hand-wound timepiece that was official NASA issue to astronauts in the space program used in lunar exploration.

Likewise, the Seamaster was first released back in 1948 when scuba diving was back in its infancy. The Seamaster has some serious history behind the line with many options to choose from. With recent editions of the Planet Ocean, Aqua Terra, Diver 300 and Seamaster 300, the range has expanded greatly yet is still true to its heritage. A Seamaster of 1960s vintage may not make a great dive watch anymore due to the risks of flooding a fifty to sixty year old timepiece, but this makes a great collector’s item.

The Railmaster has been re-released with a three box set containing a Seamaster, Speedmaster and Railmaster limited edition timepiece. Whilst I won’t be racing out and remortgaging my house to purchase this collection, this will definitely raise the values of vintage Railmaster timepieces still held by individuals. To pick up a vintage Railmaster would be a pretty special find, they are out there, I just need to search.

Just like my old man’s Chronostop; he was still wearing the watch as a daily timepiece until he damaged the movement by flooding the case and throwing the now lifeless watch into a box on his dresser until I resurrected this fifty year old hand-wound mechanical watch. The vintage Omega market is generating more interest and prices are holding up well which is unfortunate as I would like to pick them up cheaply.

I have an interest in business schools. I have started looking at the top business schools in the United States and Wharton Business School at the University of Pennsylvania. What I know about a number of the top business schools in the United States is they specialise in specific areas. The Wharton School of Business specialises in marketing, so for those seeking a marketing major, Wharton could be the school for them.

Some of the famous alumni from Wharton Business School include President Donald Trump, Elon Musk, Warren Buffett and Peter Lynch. Ok, so two of those guys I respect and two I do not. Interestingly, both Buffett and Lynch are finance guys so their finance credentials are pretty good. I would tend to think Donald Trump has embellished his credentials somewhat, he would have been less than transparent about his grades but ultimately, he was there to learn how to run the family business.

Wharton Publishing offers some pretty decent reference books, I would be interested to know if these books are used as reference materials for class. I have flicked through these books at bookshops, the quality is good, I can see why they are on sale. I would be interested to know how many universities worldwide use these published books as learning tools. Does Wharton Publishing also provide the text and reference books for students or is this just a commercial venture, regardless, they have some pretty decent reference books that they publish.

Trips to not only my local shopping centre but airport lounges, international malls and shopping precincts draws my attention to the Pandora retail outlet. During international trips, I see Pandora retail outlets at all the major shopping malls, they are a pretty big deal, coverage in over 100 countries and over 7800 retail outlets.

When I wander past, I notice there is always customers browsing through not only store windows and display cases but also trying on jewellry and other items. This leads me to ponder, how successful is this retail business with their extensive coverage? In terms of international coverage, one would think the Pandora brand is very strong and successful. Yet when I read financial articles, I learn the Pandora brand is in financial difficulty with deep discounting of inventory and hence reduced margins.

Upon my limited entry into Pandora stores, I have found that the staff were friendly and quick to assist. Their merchandise is of a reasonable quality in terms of materials and workmanship. What you are paying for is their designs and creativity, I’m fine with that as that is what distinguishes a brand in a competitive marketplace. Intellectual property is a huge value proposition for a business and warrants strong defensive tactics and legal protection.

As a former business student, I have an interest in their branding, their supply chain, their distribution channels, their market positioning and their strategic direction. The leadership and executive team, whilst important are not as valued as our business text would have us believe. For me, their designs, quality and distribution channels are the determining success factors for a brand such as Pandora. The brand is well supported with a reasonable degree of consumer acceptance and customer loyalty, one expects the Pandora brand to consolidate in the short term.

We are now early in 2025 and my intention in 2024 was to dismantle the protection racket that was being run to benefit a few. I had to be aggressive in my stance; however, the abuses that were allowed to manifest under the leadership vacuum were a disgrace that must be eradicated to prevent further abuses, this still was not going to be easy.

I will endeavour to dismantle the structure that allowed the crony club to prosper; this, I believe offers the best opportunity to eradicate the patronage that afflicts us. The three stooges have abused the privileges they were gifted, they took it way too far, now they have been exposed. So, how do I go about it? I have spent 2023 collecting evidence and documenting safety compliance including the psychosocial factors incorporated in the Act, the investigation from an external contractor that was ordered after an internal complaint rocked the establishment.

So, where to from here? Well, first, the conditions that allowed the abuses to occur need to be scrutinised, these individuals like to operate under established practices, there has been misappropriation of government funds, there has been misuse of resources, there has been breaches of every clause of the Code of Conduct with the exception of the outside employment clause.

Let’s not even review the values statement of the organisation, the integrity of the organisation has been compromised. The question is why has the leadership been so lacking? Why have these certain individuals been emboldened to act in such a manner that discredits the whole organisation? Where is the accountability?

The mission statement should offer a clue, yet the vision, mission and values statement of the organisation whilst found on the intranet are largely discounted. Where is the accountability? The Code of Conduct is pretty clear, do not engage in bullying, but bugger that, people who are accused of bullying are offered promotions. The message is clear, engage in misconduct to further your career.

So, what happens next? The organisation has been investigated by an external provider, this is not the first time this has occurred. So, we need to start asking questions of upper management. Where is the oversight? The upper management needs to answer serious questions regarding their conduct, when accountability and conduct is scrutinised, they cannot continue to their behind their positions. They need to answer questions regarding their management and as this escalation will get them running for cover.