Trip to Sunshine Coast

As Ramit's Conscious Spending Plan says that we aren't doing enough "guilt-free spending", I booked a trip to Queensland for when the weather will be colder here 😀. Took under 2 hours to decide on location, book an apartment, book flights, and book a car. Pretty efficient I think. Total bill for a family of four: AUD 5,350. I think those are all the additional costs compared to doing similar activities based at home on a staycation. Not sure I am "guilt-free", though! Now we could have picked cheaper options throughout. But we got an apartment on the beachfront with a sea view and a swimming pool, a car that will definitely fit our luggage and extra legroom on the flight (front row) at convenient times. We got the cheapest available price on Jetstar on the way back.

One interesting thing is that I thought about using my Qantas Frequent Flyer points, but my160k points were only worth about AUD 1,000. Apparently, they are worth more for international flights, so I kept them for now. Will probably find I'm not allowed to use them when I next try to book an international flight.

Trading Update: Tokyo Edition

So far it looks like the "old" more systematic model won today. US stocks are down. I'm not trading as I was flying to Japan and now my phone's connectivity is dodgy and I need it as a security device. Anyway, Wednesday is US Independence Day and Tuesday is already a short trading day so, I'll wait till Thursday or when I am back in Australia next week,

My hotel is the blue tower in the background.

P.S.
The stockmarket turned and went up. So, the "new" model was vindicated in the end. Still, I don't like trading rules that don't make logical sense.

Update (from England)

It is always a slow process to get the accounts together at the end of June as it is the end of the financial year in Australia and data on tax credits etc. won't be available till mid-July. I estimate that we lost more than $A40k in net worth for the month and got -4.0% rate of return in AUD terms. The ASX 200 index was down 5.3% though. OTOH the MSCI lost 2.31% and the S&P 500 1.94%. Our estimated loss in US Dollar terms was 3.5%. So, again, we beat the Australian index but lagged the international stock market indices.

It looks like we again had high spending - $A7.6k not including large business expenses. And that doesn't include our mortgage repayments. We did buy a washing machine and dryer. That cost $A3030 in total. So the rest of our spending came to $4.6k. $943 was property tax ($313 per quarter) and body corporate fee ($630 per quarter). Health insurance is $308 (per month) etc.

I'm in England on business. Working on putting together an international consortium to bid for research funding. Round trip of 6 days away. I was in the Middle East for 2 weeks in late May early June - going to conferences and visiting family. My doctor was surprised when I said I was visiting family in the Middle East :) This second trip only came up while I was in Turkey (one of the three countries I was in). Yesterday was the hottest day of the year here in England. In London it hit almost 37C. A bit cooler where I was. Though we were meeting in a room which had air conditioning installed, the air conditioning was broken. So, it was hot work. We had lunch yesterday in the hall in this picture. Our meeting on Tuesday was in the building on the right...

Spain, Dubai, and Australia

I am now in Spain, where I arrived yesterday. I have never been here before but it feels very familiar as an amalgam of places I have been. It almost feels strange that I can't speak the language. Reading it is a lot easier of course. I know French quite well and am generally good at languages, especially reading them. Unemployment is 25% in Spain right now and supposedly it is a country in financial crisis. There are a few closed stores in town but generally you wouldn't know about the crisis. Maybe one sign was when I got on the Iberian flight at Madrid airport the plane felt very old, rundown, and cramped. Well, after flying on Emirates, the first leg of which was on an A380. My first flight on Emirates or an A380. But Madrid airport was huge and grandiose. Dubai airport at 5am is totally packed with crowds of people from all over the world buying duty free goods and scurrying around. It was a long trip around 33 hours door to door and 4 flights to the coast of the far west of Europe from inland south east Australia. Following up from a comment I just made on my last post in response to Financial Independence's comment that an income of $4,000 a month is sufficient. As, I said in Australia that is less than the average wage. A couple each earning the average wage will make $11,000 per month or $130k per year. The median price of a house in the major cities in Australia is around $500k which is about 4 times their annual income. So we are making about twice the average and looking at houses that cost 50% more than average which would be 3 times our annual income. This hopefully, gives some perspective on average numbers for Australia and our relative position. In much of the world these numbers will seem enormous, but you aren't facing Australian prices. Here in Spain, a beer from the mini-bar in the hotel room is about half the price of a beer in a typical pub or restaurant in Australia, for example.

Preliminary Monthly Report

Doing the accounts for March this morning... Looks like we hit a net worth of $A600k for the first time, partly because of the fall in the Australian Dollar to $US1.03 this month. But I'm noticing that quite a lot of our investments are hitting all time highs in terms of the profit we have made on them. These are:

CFS Developing Companies Fund
CFS Diversified Fund
PSS(AP) (Snork Maiden's superannuation fund)
Qantas
Celeste Australian Small Companies
Acadian Global Equity Long-Short
Argo Investments
CFS Geared Global Share Fund

Some others are also quite close to peak profit levels. Of course a lot of other investments are still way down from their peak profit level or are underwater... Two common themes among the winners are small cap stock funds and recent investments. Small caps have been doing very well - they usually do at the beginning of the business cycle, which is why we have invested in them quite heavily. Recent investments haven't yet had a chance to lose money :)

Our house-buying fund has reached $A82,973 from $A77,386 last month. The goal is to reach around $A100k.

Apart from computing rates of return, I use the monthly accounting to check up on whether all our retirement contributions have been properly made by our employers, whether the fees we are being charged are correct, and whether we have been paid money we are owed. I found that my superannuation provider has been charging around $A100 a month for "inbuilt benefits" since I cut my member contribution to zero in September. This makes no sense to me as there is nothing in the prospectus (PDS) about increased fees if you cut your contributions. It does say that you can't get optional life insurance etc. and in fact the fund refused me the coverage, which I tried to get. So I think they are now charging me for coverage that I don't have. I sent them an e-mail querying this...

Anyway this is how our Australian superannuation accounts are doing:



The green line is Snork Maiden's account and the blue line my current account, both of which we are contributing to. The red is my account from when I worked in Australia previously. I rolled it over into a commercial fund manager and it is invested rather riskily. Hence the big fluctuations. We have now managed to save $100k in our new super accounts.

I'm also still owed money for travel to a conference back last November, and for consulting over the last six months. In the latter case, government budget cuts and local circumstances look like I lost the gig now (right after my security clearance was finally approved at the end of February, but it would be nice to get paid for what I already did! The conference money is also owed by another university. My own employer is actually great at reimbursing money. I submitted a bill for our recent overseas trip this Tuesday and already the money was in my account on Friday!

One Million Kilometres

I'm planning a trip next month to a neighboring country and just realized I will hit 1 million kilometres of flying during my flight there. I've kept a spreadsheet of my travel from when I first moved to the US and hadn't flown much yet recording all flights I've ever been on. A professor in an environmental studies class noted he didn't have a car but had flown as far as the moon and back (I think that is what he said) and so wondered if he was hypocritical and I wondered how much I'd flown. I use a piece of software called anAtlas to compute the distances. It's a long way to go to match George Clooney's character :)



Yes, I didn't fly anywhere until I was 18 years old.

Street Scenes from the Other Side of the World

Third post in this series:

1996-2002:

2007-Present:


The most noticeable thing about these pictures I think is the sunshine :) It's not been like that much recently.

Another Continent

Street scenes from the other side of the ocean:

1990-1991:


1991-1992:


1992-1993:


1995-1996:


2002-2007:


Yes, when I was in grad school I ended up moving every year. Since then, I've been much slower to move.

Revisiting the Old Neighborhood

I was inspired by these posts to put up some pictures of places I used to live. The difference in my case is that they all look much the same as when I lived there and I'm twice the age of Ken! For three countries I've lived in I could just go to Google Earth and capture pictures. No need to actually travel :) So to kick off here is Britain below. I've tried to capture a feeling of the streets and I've just labeled them by when I lived there. It's pretty easy to guess where they are though :)

1964-1966:


1966-1983:


1989-1990:


1993-1994:


The only changes are really the models of the cars and in the 1966-1983 place the size of the plants in the gardens and the recycling bins.

Yoyo in Hollywood

Seems like it was hard to get both Yoyo and the Hollywood sign in focus.

Rome

I was just invited to come and talk in Rome. But I turned it down. I think I will have done enough traveling for the year and I don't feel particularly expert in the specifics that they are interested in. I don't see it adding a lot professionally in other ways. It's more like a training session for the participants (from developing countries) from what I can understand. It's a pity because I like Rome and I have a friend I could visit there and even in theory visit family from there. But that's a big trip and would take me away from Snork Maiden for a long time and she isn't very keen on that. So, I think I'll stay home this time. I expect only to get more such invites in the future.

High End Japanese Restaurant

When I posted a picture of Yoyo looking at Sushi I said that was a high end Japanese restaurant too. This place was on the 39th floor of a building in a Seoul satellite city with a great view. You had to take your shoes off outside the private dining room and then get up into the room. In the middle was a table over a sunken well. So you were sitting on the floor Japanese-style but actually your feet were in the well and so you were actually sitting at a table Western-style simultaneously. There were endless courses.



In the picture there is sashimi (on balls of shredded radish) on the right and sushi in the plate. The mug has hot sake with fugu fins in it. My host said that his grandfather liked to drink this. It was interesting and not bad at all. There was also beer.

Bibimbap at the National Museum

Bibimbap can be served in a sizzling bowl which you are supposed to add soup and hot sauce to complete the preparation. But, then, sometimes it isn't, like this example at the National Museum:

River of Alcohol

A bar with a river of alcohol! The traditional Korean drink makoli to be precise:




This was in the Sinchon neighborhood. You can drink as much as you like for W4,000 each (just under $4). You can also order food. The main menu was in Korean and Japanese, but there was also a Chinese menu. No English menu. Again, recommended by our Hong Kong guide. So, the dishes cover holes in the table. You lift the dish and ladle out some drink into your cups. It is about as strong as cider or a strong beer. It is the first stage in the production of rice based liquor before distillation.

Neighborhood Restaurant

We found lots of attractions and places to eat in Seoul by following a guidebook that Snork Maiden bought at Hong Kong airport. First she had to translate from Cantonese to Mandarin and then to Korean though some things were actually labelled in Korean. This was very helpful. By the end of the trip I could read all the Korean consonants. One of the places recommended was just round the corner from our hotel and we ended up eating there twice. We would never have tried some place like that without the guidebook. The basic menu consisted of 20+ dishes (and rice and soup) for W7,000 (about $6) per person. This is what it looks like (with an additional dish in the middle):



As here, you can order "additional dishes" in addition to the basics. The restaurant is in a traditional house with a tiled roof. The host brings the menu on a giant wooden spoon:



There is actually a menu in English, surprisingly enough. We actually asked for one in Chinese first. Here is a Korean pancake (W10,000):



The dish we were least enthusiastic about were these leaves (I think it is perilla):

Chun Restaurant

At this place, in the Sinchon neighborhood, the staff cook your food in a big pan built into your table. It is supposedly chicken, but was mostly cabbage. Before:



and after:

Namdaemun

Namdaemun (Nan da men in modern Mandarin Chinese - South Great Gate) is a market area in the centre of Seoul. We had lunch one day in a restaurant there after going camera shopping. This is what it looked like:



The main dishes are a spicy tofu stew and cold buckwheat noodles. After serving the noodles a woman came and cut them with a big pair of scissors. We didn't think much of the sushi. In centre from left - soup, kimchi, tofu, radish. Also in the picture rice and bean-sprouts. You always get served a bunch of small dishes for free in Korean restaurants but I found they were a bit more substantial in Korea than in other countries. Close up of the noodles:



Also typical of restaurants in Korea is that there is a lot of chopsticks and spoons on the table which you select as many as you need:

Temple Food

We went to a restaurant in the Insadong neighborhood that claimed to serve "temple food". This meant that the food was vegetarian and made of locally available ingredients and featured some things that Buddhist monks might have traditionally eaten. Lunch was a fixed menu for W22k per person (about $20) with a large number of small dishes. As my friends commented, this was pretty lavish for monks. The first set of courses looked like this:



At top left and bottom right are crunchy cracker, at top right pancake, and at bottom left tofu-like. In the middle was very salty peppercorns. The next round looked like this:



Top right is tempura vegetables (mushrooms and capsicum) and in the wicker basket mostly greens/herbs of various slightly different varieties surrounded by kimchi, tofu, and other dishes, soup etc. There was also rice (not in the picture). The dessert course featured some sweet stuff and crispy puffy things that seem to be popular in Korea:

Yoyo Tackles Korean Food

Yoyo takes on a Korean melon:

Yes, they are really small. Snork Maiden thought that the skin was edible. I wasn't so sure. Yoyo wasn't much happier with this box of sushi:

Each piece was individually wrapped in plastic. It wasn't that good. On the other hand I went to a high end Japanese restaurant. I haven't got the pictures from that yet. Yoyo looks happier with this almond liquor and salted almonds:

The liquor was really sweet. We didn't finish it.

Yoyo en Route

Traditional pictures of food coming up soon.

No you can't actually take a train to Pyeongyang from this station. 50m down the tracks there are stop signs:



Though until 2007 there were trains to the industrial area just across the border.