(03) 9020 2905I think our federal politicians want some attention. So now they’ve got mine, long enough to say: “Toughen up princesses!”
A report about politicians, by politicians, issued this week said they want parliament’s hours cut because they’re not getting enough time tucked up with teddy.
I’m guessing they don’t care too much about what we think, as there’s not an election in sight. And unlike the rest of us, they actually get to decide their own rules. And, collectively, their own salaries!
As pre-requisites to get that seat in Canberra, politicians learn to beg, borrow and steal. And lie their pants off. They don’t just choose to be there, they fight for it, like a determined child after a toy at creche.
But now that they’ve made it, they want afternoon naps written into their workplace agreements. Like children at creche.
What politicians need to remember is … they’re the most replaceable commodity on earth. For every one pollie, there are hundreds of aspiring pollies who’d cut out their own mother’s hearts and raise it, still beating, skyward (like that scene in Indiana Jones and the Temple of Doom) for the same opportunity.
(And let’s face it, given the current bunch, there’s got to be a few better qualified monkeys out there who might even work for a few less bananas.)
If you’re not enjoying it, or it’s too hard, bugger off! We can find other monkeys. And maybe the next monkey won’t complain so much.
Yes, politicians work hard, over long hours. They’re away from their homes, missing their partners and kids.
But so am I. And so are many of you.
Politicians don’t have to be in Canberra. They could do something else. If they don’t like the hours, they have the same choices we have. Sulk quietly. Quit. Retire. Buy a caravan.
But stop with the whingeing.
“They’re always complainin’, always complainin’,” wrote Good Charlotte in Lifestyles of the Rich and Famous. Politicians might not be rich (poor old ex-Liberal leader Malcolm Turbull slipped out of the Rich List top 200 this year), but they are definitely there for the fame.
There are few legitimate reasons for working punishing hours, year after year.
You love it and it’s what you’d do in your spare time anyway. You want to provide a better lifestyle for your family (try not to kill yourself in the process). Or so you can wind down early.
The last one requires proper planning. Unlike our politicians, you’re unlikely to have an extremely generous super scheme and an unlimited airline pass backing up your many years of senility.
Working extra means putting off some skylarking now. And understand that any “skylarking” you’re able to do beyond your 50s, won’t be the same type of fun you’d have if you were doing it today.
The path to retiring early requires two things – delayed gratification and compounding growth. That is, money you won’t spend now, but will put away to make more money for later.
Still interested? Well, here’s the plan.
Super contributions: Put in over and above the 9 per cent from your employer. For those earning more than $80,000 a year, the tax benefits are also pretty compelling. On $5000 a year, that’s as much as $1575 saved in tax each year.
Super risk: Raise the risk in your super. Put more money in shares and property. It has the potential to double your super given enough time.
Pay down your mortgage: The first benefit is having money earlier to invest to create passive income streams. The other is that home equity is one of the best forms of investment capital (if you’re comfortable with gearing).
Investments: Think of it this way … every day you put off making investments is two days extra you’ll need to work. Compound growth of something small now will be something worthwhile later.
Consider gearing: Only for those comfortable with higher risk, who have a longer time frame and who will buy “quality” assets. Borrowing to invest can be a powerful investment tool.
Holidays: Avoid them and you will grow dull, like John Howard. So make the most of them when you do have them.
Hey, don’t work TOO hard. And walk this way to wealth.
Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and a licensed financial adviser. bruce@debtman.com.au .