Retirement? – No way

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The question I am most frequently asked comes out more as a statement along the lines of “you are not thinking about retiring anytime soon – are you”.

Our cultural statement, “invest with us”, puts my response into perspective. What I know about other forms of investment, such as shares, could be written on the back of a matchbox with a blunt pencil. When it comes to other forms of property investment, anything where I am not either the owner or first ranking mortgagee goes against all the values enshrined in me from a long career as a first mortgage lender.

In addition to actual investments in GPS mortgages, my family has a considerable amount tied up in equity in the GPS business and the substantial amounts of cash it takes to run the business. This includes the net tangible asset holdings of GPS Investment Fund Limited, which is all held in cash or bank term deposits.

I am not going anywhere soon, as years of doing this job has left me with few other avenues of investment with which my wife, Debbie, and I are comfortable.

Another aspect for not retiring anytime soon is that I am still enjoying working. In particular I enjoy overseeing our next generation program.

Finally, the thought for Debbie of my not being distracted by GPS funded projects and work, with all my attention being on her and my daughter, Marnie, scares the daylights out of her.

There is no encouragement from Debbie for me to retire anytime soon. My mother and sister-in-law will attest to this being a family trait for males within the Woodhead family.

My hope is that I will be around until GPS staff pat me on the head and tell me they have it from here. I will probably react badly but, deep down, it will be the satisfaction of a job well done to get them there.

For better or for worse, you have me for quite some time yet.

Richard Woodhead – Managing Director

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