My Week: Time to Retire

crappy dayHello folks.  You may know from Google Doodle, it was the week of the 131st anniversary of the hole puncher.  It used to be an essential office tool to file papers. Digitisation has meant it has been years since I have used or thought about the humble hole puncher.

In my first job as a filing clerk, at the age of 17, the paper hole punching machine used to be my essential everyday office tool. As a part-time student, I had it in my bag most times. It was “borrowed” from my employer, to neatly file away class notes.  

Power and Broadband cut

Virgin media were doing some cabling works in our area. It resulted in us not having a broadband service for about a day. The Personal HotSpot from my mobile meant that until the power cut our productivity was not adversely affected.

Just after the Virgin engineers left, we had a power cut.  It was only our office that had the blackout. The buildings nearby had power. We were without power for 3 or so hours. At times like these, it makes you think, we take so much for granted. Without power, you cannot do much.

Thankfully UK Power Networks came within 2 hours of the blackout being reported and restored power. They replaced some parts near the electric meter.

Both Virgin and UK Power Networks kept me informed of the progress of my support request through SMS alerts. It reduced my stress knowing they are on their way.

Knowing when to retire

Those of us who are not already there will reach a stage where we cannot work as accountants in practice due to old age related deteriorating health. In my case, the difficult aspect will be knowing when is the right time.

I spoke to a potential client. He intends to leave his accountant after 30 years (impressive!) of being his client.  The reason for leaving is because his accountant is 85.

The accountant in question fainted at clients premises on a client visit. It as at this stage the client decided it was time to move on.  The accountant tried to convince the client to stay on but it did not work.

The accountant is still working in his practice. I would say the accountant is going beyond his sell-by date.

I think I may go on beyond my sell-by date. I am not sure whether, at the time, I will accept that I have reached a stage whereby, it is time to close shop or sell up.

Maybe, our accounting bodies should make us go through medical and competency checks after, say 70,  to make a fit and proper assessment. I am not sure at that stage of our lives we will care about breaching professional body rules.

If you are 70 or over, it would be good to know your thoughts.

No email 

The potential client, I mentioned earlier, is a high net-worth client. He does not use emails. We are now so paperless, I am not sure how it would be with him. He would be out sync with the FT Practice Ltd’s client profile. I will think.

Boxed Santa

Amazon has delivered the Santa I ordered last week. It is too early to put up Christmas decorations. The Santa will be coming out of the Amazon box next week to give pleasure to many passers-by.





2 thoughts on “My Week: Time to Retire

  1. I am over 70 and still have a few clients. I am paperless and well up to date with tax law and changes in accounting standards. I share you thoughts re how old is too old. I think a lot of people carry on working because we have built up relationships with clients and feel that we are letting them down if we “sell them on” Plus we enjoy the work.

    1. Hello John

      Thank you for your response. I think I will be like you after 70. I agree we carry because of our relationship with our clients and job satisfaction, Until today, I had no idea, someone, like you, read my blogs. Thank you.

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