Barrister, politician, author and businessman Peter Costello once said that a person's influence can only be judged at the end of their career.
"Preferably judged hundreds of years thereafter," he joked.
By his own reckoning, Australia's longest serving federal treasurer has been given a premature endorsement of his influence, being appointed a Companion of the Order of Australia (AC) in the Australia Day honours.
The honour recognises "eminent service to the parliament of Australia, particularly through the development of landmark economic policy reforms in the areas of taxation, foreign investment, superannuation and corporate regulation, and through representative roles with global financial organisations".
Mr Costello told AAP he dedicated his honour to his family who "suffered the most" during his 19 years in parliament, having been first elected to the Victorian seat of Higgins in 1990, and 12 years as federal treasurer.
"I had the enormous privilege to be the principal steward of economic policy in this country for 12 years," Mr Costello said.
"I tried to put in place reforms that would make Australia a stronger and a better place and people will judge how successful we were.
"To be recognised for that is a great honour for me. "I was lucky I had great staff, good colleagues, a wonderfully supportive family who put up with long absences and I hope that I changed the country for the better."
These days Mr Costello divides his time between his business BKK Partners - which has offices in Sydney and Melbourne - as well as roles with the World Bank and the Future Fund.
His position on the independent advisory board of the World Bank involves investigating allegations of corruption surrounding World Bank projects, which provide vital assistance to the poorest nations. "There are many nations where corruption means that the poor are essentially being ripped off by their own leaders - it's heartbreaking," he said.
The former barrister who was involved in some of the biggest industrial relations cases of the modern age has also been asked by his publisher to write a follow-up to his autobiography, The Costello Memoirs.
"There are a few proposals for me, but I'm busy with business at the moment," he said. Having supported a republic at the failed 1999 referendum, Mr Costello remains optimistic the change will come in the long-term.
"Very rarely in Australian history has the same question gone to a referendum more than once," he said.
"There would have to be a material change in public opinion to put the question a second time and I don't think there's been a material change. "But I'm sure there will be one day."
As for his Australia Day plans, the ex-Liberal MP will be mowing the lawn and having a barbecue with his family.
