AMERICAN ANIMALS

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American Animals

The trailer to this movie gave me the impression that it was a fairly typical heist story, but with children dressed as old men. In reality this is a really rather wonderful story, but unfortunately displays the insight lacking from many of those involved.

The opening credits quickly open your eyes to the very real encounter that you are about to witness, followed by the introduction of the characters concerned. This is indeed a true story of four young University students who yearn for something more than the mediocrity of their circumstances. We are introduced to various people, who all fail to see beyond the external world that these young men offered and projected. Parents left wondering rather desperately why their sons could ever make such decisions. This is Ferris Bueller on speed.

This is the perfect conversation starter for those that do not sit well with the suggestion that everyone is special and cuts deep into the delusion of the American Dream. A slumber from which many may never wake and one whose end is denoted by a President signalling its end yet rather ironically perpetuating the delusion that its failure can somehow be resurrected, having to make America Great Again. The problem with any dream is that at some point you have to wake up and face reality. I’m not against dreaming – quite the opposite in fact, we need to dream, but we also need to plan and act, not simply wish. If you have children that are about to head off to University, spare a thought for this collection of A-graders. Young men who have “made it” to the promised land of a good University, doing a good course that provides good prospects.

A Small Nagging Thought…

Whilst on the campus library tour, art student Spencer Reinhard (Barry Keoghan) is taken with a rare book of 435 paintings “Birds of America” by John James Audubon. The fact that it is both beautiful and valuable, yet displayed so humbly in the library provides a nagging thought and an opportunity.

He relays his discovery to his friend, athlete Warren Lipka (Evan Peters) who is certainly one of those friends that never has “parental permission” which is perhaps precisely why Reinhard befriends him. Lipka becomes fascinated with the idea of stealing the book, being that it is so valuable and so minimally guarded. All that stands in their way is a good plan, a librarian and a single locked door.

To Feel Truly Alive

At one point in the film Warren Lipka says “You’re taught your entire life that what you do matters and that you’re special. And that, there are things you can point towards that would… which’ll show that you’re special, that show you’re different, when, in all reality, those things… don’t matter. And you’re not special.” This was his opportunity to “live”, not to get rich quick, but to feel the adrenaline of being alive in a world that to that point had been scheduled point, by point, event by event, stage by stage.

Their plan continues to meet no insurmountable obstacle, so whilst expecting it to be derailed by something that they simply could not overcome, they creep ever closer to the realisation that a well-designed and executed plan reaches its stated goal. Their inevitable downfall was only due to a lack of detail in their plan, not that it was a bad one. This is of course (finally!) my moment to mention that a financial plan is best crafted by someone that understands the requirements, the detail and can help you to verbalise and clarify your goal, one that is hopefully based upon your values, not simply acquired value. The “Why?” of your plan is just as important as the plan itself.

What if?…

There is little doubt that for Reinhard, Lipka, Borsuk and Allen, this experience was probably one of the most heightened and significant of their lives. It is what they will be remembered for by those that do not know them. It may even be only how they remember each other. What is certain, is their remorse, but had they actually had a better plan, perhaps things would have been rather different. Obviously, I am not condoning theft, merely that a plan for the life you want may taste bitter unless you check the detail and implement it as outlined. How is your “What If?”

Here is the trailer for the film which is on general release from 7 September 2018.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

Email me to get in touch

AMERICAN ANIMALSDominic2025-02-03T10:37:19+00:00

CRAZY RICH ASIANS

Crazy Rich Asians

I have to admit to being a little uncertain about the title of this film in 2018 and frankly the film itself did little to convince me that it didn’t fit. Yes this is a story about rich Asians, but not what I would describe a crazy. For certain, there are many examples of a dysfunctional family, but no more than most families.

The film has taken the US “by storm” with box office receipts there already more than $120m. This is a love story, a “rom-com” though the jokes were not exactly coming thick and fast. The point of difference is that this is an Asian cast making a film about “normal” Asians that do not fall into the typical stereotypes that we have become accustomed to seeing in the West. At the BFI preview last week, the international cast were very keen to make the point that for them, this was a significant film about their identity, shown in a positive light. Representation within a mass market is something that male white westerners like me will never really fully appreciate because “we” make up the vast majority of the market. I am not going to disagree. However, stereotypes in film are shorthand to make a story move along.

Been Here Before?

I enjoyed the film for its entertainment but cannot in all honesty say that it is particularly good or revolutionary (other than representation). The plot is that of most basic fairy tales with the “rags to riches” heroine confronted by those that wish to preserve and prevent her access to a “higher social class” typically taking the form of the wicked step-mother, here it is simply mother (Michelle Yeoh) and grandmother (Ah Ma). Hardly revolutionary! The males are essentially invisible, due to workaholic lifestyles that keep them away from their families, those that are not already dispatched to British Boarding Schools. Yet this, we are supposed to believe is what Nick Young (Henry Golding) is conflicted by, his love for his Cinderella, Rachel Chu (a US University economics professor) or running the Young family empire in Singapore. Rachel (Constance Wu) is oblivious to the Young family fortune, arriving in Singapore to meet Nick’s mother, more concerned about the US and Singapore cultural differences than any financial ones. Thus, dramatic tension is formed… and the feeling that you have seen this before.

The story unfolds as the couple arrive in Singapore to attend the wedding of Nick’s best friend (hereto unmentioned) Colin and his fiancée Araminta. Through the nuptial preparations Rachel faces backstabbing, envy and malice primarily from those that believe that she has usurped them on their own gold-digging quests. Like the proverbial fish out of water, she seems to forget all the skills that make her a professor of economics at a New York University….

Show Me The Money

I had wondered where issues about money might arise. Perhaps we would learn some deep secret about family, tradition or cultural wisdom that would offer a pithy alternative to the excessive consumerism. Sadly, there was little evidence that Asians are any better at handling wealth than anyone else, no great pearls of wisdom, no Eastern enchantment or sophisticated puzzle to solve.

There are small nods to a sense of inadequacy for the have-nots and a very minor sense of embarrassment for the “haves” the examples provided are forms of excessive spending. Everything is big and done to impress for the Instagram world – no different from anywhere else. Nothing unique at all. There are some tacky and tasteless homes, but no different from that chap that has a Tower. The excessive parties are simply that, self-indulgent and really rather daft. I don’t think I’d call it “crazy” I’d probably describe it as thought-less. That said, this is aimed at Americans, where any word is used to mean “very”. Very Rich Asians would be a more appropriate title, though in fairness, “Some Very Rich People in Singapore” doesn’t have the same marketing slickness to it.

Here is the trailer, the film is on general release from 14 September 2018.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

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CRAZY RICH ASIANSDominic2023-12-01T12:17:52+00:00

Mission Impossible – Fallout

The latest in the Mission Impossible series is now doing the summer blockbuster rounds in cinemas across the country. The six-film series has had a mixed reception over the 12 years since the first film directed by Brian de Palma. Known for its over-the-top stunts all 6 films cost a combined $828million. The return to date, with the latest film only just having opened is now in excess of $2.9billion. That’s a payback that would make most villains happy and as predictable as shots of Tom Cruise running, speeding on a motorbike, hanging to an aircraft, climbing or jumping.

This latest film is arguably the best, with a gripping, tense tale of a plot to save the world from three suitcase sized nuclear bombs. There are motorbike and boat chases across beautiful Paris, the standard Tom Cruise run across London, from St Pauls to the Tate (though why he didn’t use the millennium bridge is a mystery). Finally, a helicopter sequence over Kashmir, all in pursuit of (spoiler alert – perhaps the most obvious double agent in movie history) August Walker played by Superman himself, Henry Cavill. Note Mr Cavill is 35 and 1.85m, Mr Cruise is now 56 and 1.7m and managing to defy age in the way that LA residents do.

Mission Accomplished

Despite the obvious implausibility with this type of movie, its undeniably gripping for all 147 minutes. Throw in a few jokes and pepper with a cast (Rebecca Ferguson, Alec Baldwin, Simon Pegg, Ving Rhames, Sean Harris, Angela Bassett, and Michelle Monaghan) that fill magazines, then it’s a fairly safe bet that this latest movie will be a hit. How they get London, Paris or Berlin to close down for some of the sequences is beyond me, but kudos to whoever pulled that off.

Who To Trust

As with all things IMF, there are questions posed about who can be trusted, aligned interests and then stakes so high that results are more important than methods. This is perhaps what investors feel when confronted by the choice of an IFA, restricted adviser, financial planner, wealth manager or stockbroker. It is possible that they can work well together, but in my experience, to do so, interests don’t simply need to be aligned, but all need to clearly understand that the client brief is the mission – nothing more, nothing less. Where this becomes impossible is when there is no plan, simply to “manage money” or arrange a financial product. This leaves plenty of scope for other interests to take hold and leave the client with a deep sense of mistrust.

Your Mission…

As financial planners, it is my belief that the regulator is largely right about transparency, revealing details to expose truth. The problem is that many will continue to find a loophole, work an angle or simply misdirect and in my opinion, trust is earned by keeping promises, not by providing information. As I knuckle down to writing yet another hefty report and wish that everyone could be happy with a short, clear and well-presented message that then self-destructs after 5 seconds, this is not my reality, or yours. I imagine that writing a report for Ethan Hunt, with all the possible scenarios of things that have been considered, the costs, options and possible risks, it may run to rather more pages than any report I have prepared to date… so a small comfort for those of us that prefer to cut to the chase – getting on with achieving the mission – yours, should we choose to accept it.

Here is the trailer.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

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Mission Impossible – FalloutDominic2025-02-03T10:37:20+00:00

Mary Shelley – Design a Life

Most probably know something about Mary Shelley. A new film outlines pieces of her life that when reassembled, form the basis for the story of the neglected, forgotten creature. Whilst the acting is good enough (just about), I regret to say that the tale itself is too slow and stiff, much like the author’s creature. The film is wedded to the notion of historical accuracy, the passage of time is painfully laboured. We can marvel at the sheer determination of Mary as she faces challenge upon challenge, most of which are fabricated by society due to nothing more than how she was pieced together herself by way of her gender. A world in which men quickly scoff and take credit for all things good, detach, ignore or abscond from any sense of responsibility. The notion of giving birth to something loathsome is evident both within her gothic novel and life story, yet it forms the basis of many metaphors today.

There is a palpable sense of the position that money affords those that have it and it is also difficult to escape the notion of the fact that this is essentially a film about young, tempestuous love, which is fuelled with financial advantage – not from Mary, but certainly the men in her life. The loss of her mother, Mary Wollstonecraft (age 38 in 1797) something of a pioneering feminist a few days after her birth is not explored. We, like Mary are left to guess at such a legacy and the “well-read” men she encounters appear not to have heeded Wollstonecraft’s work “A Vindication of the Rights of Woman”.

The Escapist Poets

The poet, Percy Shelley (Douglas Booth) who Mary (Elle Fanning) meets at 16 when she is sent away to Scotland to avoid further fractions in her relationship with her step-mother. Percy, 21 at the time, falls for her and eventually follows her back to London, only revealing that he is already married, to someone who he now does not love. The bohemian free movement between relationships he presumes meets with Mary’s support. The men in Mary’s life are not good with numbers, both her father and Percy struggle financially and get out of their depth. A skill in one area of life does not include another. Percy eventually borrows against his future inheritance. All, it seems, because he has fantasies about how he should live.

One Night in Geneva

Lord Byron’s (Tom Sturridge) appearance merely provides yet further resources to alleviate the boredom through various traditional means of escape. I cannot recall quite where I heard it, but I remember someone telling me how they thought that the 1816 dinner-party in Geneva where both Frankenstein (Mary Shelley) and Vampires (John Polidori played by Ben Hardy) were created would be a marvellous night to be a guest at the table. Yet, the night passes damply without any real sense of occasion at all.

History has given credit to Byron as one of England’s greatest poets. What I suspect the film is trying to convey is the sense of his rather selfish sense of entitlement. At 28 he was the eldest of the group in 1816. Polidori being 21 Percy Shelley 24 and Mary just 19. The men, for all their indulgences did not live long afterwards.

Facebook – Victorian Style

Sadly, this film does not do justice to the more radical views of Mary Shelley, instead contorting the story into something that is more like a petulant teen romance. Her own children conspired to hide her feisty nature by doing something of an early Victorian PR work on her character. Mary Shelley was a woman with much to say about society, yet even today most mistake her creation’s very name.

Stories are important to me; your story is the one you tell and want retold (to some extent). Therefore, it seems logical to live by design – on your own terms, how you wish to, not dictated by others. Your finances need to be the architecture around your lifestyle, supporting and ensuring it can continue, but unless you reveal your story to your adviser, how on earth is that possible.

Here’s the trailer.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

Email me to get in touch

Mary Shelley – Design a LifeDominic2023-12-01T12:17:58+00:00

Monsters and Men: Jurassic World – Fallen Kingdom

Jurassic World: Fallen Kingdom is yet another version (the fifth) of the 1993 hit Jurassic Park. What was once, a milestone for special effects, now rather like the re-engineered dinosaurs is all too familiar. This may have something to do with the financial success of the immediate predecessor, which was the biggest in the series in terms of actual takings ($652m) and this latest film has already taken $333m since June 22nd. Hence the reason for hashing together the same story with minor alterations.

As predictable as the story is, there was a growing unease as I found asking myself “why have I paid to watch the same movie yet again?”. Perhaps that is precisely the point. Why on earth to we never learn from our mistakes of the past, or at least seem unable to.

Fallen Kingdom might be a metaphor for the monsters that we tolerate within our midst. The stereotypes that seem intent on only advancing methods of ruining lives rather than improving them. Men paid to fulfil the orders of the rich, psychopathic and powerful and who never question loyalty to anything other than their own self-interests. That which was once thought long extinct has risen and is now marauding local communities whilst wearing a rosette. The monsters are amongst us, Pandora’s box is open.

Spoiler Alert… really?

As the movie is so much like any of its predecessors, the notion of a spoiler alert seems somewhat redundant, but here is one. There is a sequence in the movie where dinosaurs are auctioned to the usual crowd of despots, criminals and oligarchs. Some are merely using these for “big game hunting” but some to terrorise. The latest “newly improved” DNA adjusted monster is proclaimed to be the ultimate killing weapon. A dinosaur that can be controlled. The control is administered with a laser-sighted automatic weapon, pointed at the victim, dino locks on, and then the bug red button is depressed to release a sound that sends dino into a killing frenzy. This work of deadly genius fetches $28m. Now I have a couple of problems with this. Firstly, if you can point an automatic weapon at your intended target, why do you need a dinosaur? Secondly, if this is the ultimate soldier, a winning bid of $28m seems a few billion off the mark. Have they ever seen the “Defence” budget?

He’s Coming to Get You…

The closing sequences of the film are utterly daft, with said monster tracking small child through an American “mansion” (one cannot escape thinking that this is designed with a theme park ride in mind) in the pouring rain, locating her bedroom, like something more out of Monsters Inc. Second (friendlier monster called “Blue” saves the day, thrusting beast onto the magnificent ancient remains of triceratops skull. The ancient overcomes the new. Girl then exposed as being a work of genetic magic herself, then releases remaining captive dinosaurs into the local community, who we are now told will have to co-exist and live with the consequences. Well, its about as daft as some of the political waffle that we all see on “the news” in its various forms.

Behavioural Issues

The monsters are arguably within us all, some are more obvious – displaying their basic qualities and frenzied outbursts, be that on twitter, Question Time or perhaps in a local IKEA store, the local pub, the centre of London or lurking in the shadows quietly moving the pieces into place as less regard for life and communal harmony become evident. There are moments when I despair, yet continue to live in the hope that civility, fairness and peace will eventually triumph, which first has to start with my own behaviour.

So the financial lesson – investor behaviour will make or ruin you. Following the crowd, being led by the noise, “everyone is doing it” intoxicated by the illusion of not needing to think will be a quick and painful way to watch your money flee to a new home. Know what and who you are dealing with, don’t mess with the cages, just because you can, does not mean you should.

Here is the trailer for the movie Jurassic World – Fallen Kingdom.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

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Monsters and Men: Jurassic World – Fallen KingdomDominic2023-12-01T12:17:58+00:00

First Reformed

First Reformed – a Phone Call from God

One of the benefits of being in London is that there is a lot going on. As you probably know, I love the arts and so attending the London Sundance Film Festival is something that I now do when possible. On Friday evening I had the good fortune to see First Reformed, it was a special screening with Ethan Hawke, (who most will remember as Todd from 1989 Dead Poets Society) introducing and discussing the film by Paul Schrader who turns 72 in July and continues to make movies.

Schrader is a writer and Director, somewhat controversial with scripts from Taxi Driver, Obsession, Raging Bull, The Last Temptation of Christ and Mosquito Coast to name a few. This new film is a powerful story about a former soldier, now clergyman coming to terms with some very difficult truths within a complex world.

The Activist Struggle

On the one hand it is a response to the feelings around the collective denial about the scale of the environmental problem that we all face. The story centres around May (Amanda Seyfried) and Michael (Philip Ettinger) who are expecting their first child. As environmental activists Michael despairs at the prospect of bringing a child into a doomed world. Toller (Ethan Hawke) provides counsel and comforts them as they struggle.

Toller has his own struggles, his own family military traditions resulted in him encouraging his own son to enlist, who was subsequently killed, resulting in his own marriage collapsing. This appears to have thrown him into church life and he is given a tiny, historic church with a congregation to match, in stark contrast to the business-like operation “Abundant Life” who have all the advantages that size brings in the form of resources but lack the one meaningful element of intimate connection.

Tradition, Honour, Discpline your Excellence..

The story explores ideas about authority, leadership and tradition set against a backdrop that requires much more thoughtful responses and integration of ethics. Money, greed and avoiding seeing what is discomforting all posed as the “proper” way. There are deep challenges to the American way of life within this film, as there are in Taxi Driver and other Schrader movies. A deep sense of injustice and a desperation to restore the balance of power reside at the heart of this dark tale.

We all have out blind spots. Sometimes these are helpful, they may even enable us to function. However, on occasion we must address difficult subjects and make some changes – hopefully, changes in our actions that are harming our own and only environment can be made in time to spare us from our folly. There are lots of reasons to he hopeful in life, but this movie reminds us of the challenge and perhaps a nagging feeling that there, but for the grace of God…

I did not like the ending at all. It was evidently written by a man, there is a bit when May, a heavily pregnant woman, finds a form of bliss in that awful Terrence Malick kind of way. I will not spoil it for you, but it didn’t work for me, the rest of the film was rather good until that last moment, but then, perhaps that is entirely the point. We all get to make choices each day about our behaviour – whether to recycle or to pollute. In a similar way, each day we get to choose, whether to plan for our future or ignore it yet again. Time waits for no one and ultimately, we will have to live with the consequences of our actions.

First Reformed is due to be released in the UK later this year. Here is the trailer and it may well be one of Hawke’s best to date.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

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First ReformedDominic2023-12-01T12:18:02+00:00

On Chesil Beach

The new film On Chesil Beach of the book by Ian McEwan is now in cinemas. It will perhaps bring back some memories for anyone that married in the 1960s, with the period captured wonderfully. Set primarily in 1962, it is the story of a newly-wed couple Edward (Billy Howle) and Florence (Saoirse Ronan) who discover that they are unprepared for the intimacy of marriage.

At the time of the story, the “sexual revolution” of the 1960s had barely begun, indeed Penguin Books had only recently (November 1960) won their case to publish Lady Chatterley’s Lover. Despite the reality of millions of daily lives, Britain was generally rather poor at sex education. Edward and Florence lack any real understanding of each other intimately. The church would of course argue that a lifetime of marriage would gradually facilitate intimacy, whilst such an answer for many is workable, where trauma and intimacy collide, there is little comfort in glib answers. Florence offers a different option, one that Edward simply cannot face.

Sweet Sorrow?

Spoiler alert – the marriage does not last the day and is annulled. Unlike the book, we do not follow the characters much beyond the moment of decision on Chesil Beach. Decisions are made, tempers are lost, and parting was not a sweet sorrow.

In our contemporary society, relationships now take various forms, it was not until 1973 that the Matrimonial Causes Act made the case for divorce clear (beyond annulment). This despite all our somewhat hypocritical history about personal conduct in aspects of sexual intimacy and marriage. Henry VIII managed to get what he wanted and created the Church of England as a consequence. The law is flexible for those with power, as perhaps you noticed in the recent BBC dramatization about Jeremy Thorpe (A Very English Scandal).

Life can be Messy

The problem with most financial planning is that real life tends to get in the way and muck things up. Life is not nice, neat straight lines, well not for most. We might wish that everything was very each to model, but the truth is that it is of course complex, nuanced and on occasion vexing. One of the most significant aspects that will impact your financial planning will be your marital status. Any change in this will create an obvious need to review your plans, yet many don’t see past the Form E (financial statement required for a divorce) and to be blunt, I’m always surprised that lawyers do not wish all sides to undergo some basic (or complex) financial assessment with proper cashflow modelling for their new scenarios. Perhaps few have experienced the benefit of this.

In any event, life is messy. Sometimes we all need to make changes that we did not expect. This might be marriage, divorce, redundancy, addictions, debt… and so on, a plethora of possibilities that were not expected. So, I tend to get a little, well, dismissive of advisers who think that a cashflow plan is the done deal – the future is mapped out, life is now a beach…. I would be quick to point out the massive advantage of cashflow planning, we use it for all our clients, but it does have its short-comings and like anything else, garbage in, garbage out, but reading a forecasted future as anything other than an option would be unwise at best. We may all crave certainty, but there is none when it comes to living life. I advise all clients that the plan is not set in stone, it will be wrong, but it is today a very good guess about he future, based upon sensible assumptions that need regular reviewing.

The Unvarnished Truth

It is not a crime to admit things need to be changed. That your plans must alter, that is normal. What is a crime (in a sense) is pretending that everything is ok when it isn’t. You may never have a Chesil Beach moment, but may I propose that a relationship with a financial planner, requires honesty and the ability to listen, discuss and think together.

On Chesil Beach is now in cinemas, here is the trailer. I enjoyed the film, beautifully shot and poignant storytelling 7/10.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

Email me to get in touch

On Chesil BeachDominic2025-02-03T10:37:20+00:00

How The Light Gets In

How the Light Gets In

My Bank Holiday weekend was spent in Hay on Wye, not for the literary festival, but for the parallel festival – How the Light Gets In. It’s a festival run by the Institute of Arts and Ideas, primarily discussing and debating philosophy, economics, power and art. This year the agenda was packed with some excellent speakers, many of whom should ruffle feathers and rattle cages. In essence to inspire thoughtfulness.

One of the talks that has remained with me most was from Kwame Anthony Appiah, who delivered the 2016 Reith lectures. He is a professor of Philosophy and Law. He made the case against meritocracy, something that I had previously imagined and understood to be a fairer system, whereby effort is rewarded in life, rather than where and to whom you are born. He fairly quickly dismantled my perhaps, lazy views with sound argument. In particular the way that parents, at least most of them, are prone to a natural tendency to give their own children every advantage possible (understandably).

Fairness and Merit

If we are to have a fairer society, (I am not naïve enough to believe we are likely to achieve a fair one) then these issues need consideration. The suggestion that money is earned and deserved for hard work is fairly common, but of course it is commonly inaccurate. No doubt many work hard and are rewarded well, financially. However, many work very hard (provision of labour) perhaps working 3 jobs and this is of course, not rewarded in anything like the same measure. We know this, yet ignore it, basically telling ourselves that this is life, perhaps we are smarter and able to employ our minds rather than our bodies, or that we are rewarded for the value we add, not the functions we do. In practice it is of little comfort as an explanation and does nothing to redress imbalance.

Natural Bias

Inheritance tax is arguably one way to test if you believe in meritocracy. If you were unable to pass on wealth, your offspring would not have the advantage of a capital sum to help them. Yet hardly anyone likes inheritance tax, it feels very much like the last kick to the stomach from a system that has already taken what feels like more than its share of tax, without suffering the indignity of further taxes for dying. Yet any sense of meritocracy surely dies upon receipt of legacy. Note I am not arguing for 100% inheritance tax, merely pointing out that most of us have a sense of fair play, that is perhaps not as fair as we may wish to think… which of course is a matter of opinion.

Appiah was not suggesting we introduce such taxes, indeed he pointed to the reality of luck, chance and time. Mozart’s gifts would have been useless in a society that only possessed a drum. Einstein would have failed in a culture of wall paintings. The point, perhaps is that we forget our great good fortune, genetic, historical, familial and financial, all of which have a significant effect on our own “success” which may have relatively little to do with who we really are. There are countless other possible lives we could have lived had circumstances been rather different, something captured rather well in a recent episode of Legion.

Versions of You

As I build a financial plan for a client, we consider many possible versions of the future, goals, dreams, desires, hopes… whatever, but essentially yours. The reality we must all face is that when it comes to the future, we have to start with where we are, we have options (many) whatever our chosen course, which may well alter, we have to actually start the journey, not wait for it to arrive.

Oh, if you are interested, How the Light Gets In announced a London event on 22-23 September, to be held at Kenwood House, should you wish to check it out for yourself…. click here for more.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

Email me to get in touch

How The Light Gets InDominic2023-12-01T12:18:04+00:00

Mood Music

There is a rather wonderful new play in town – Mood Music. It is a must see (or must read) for any budding musician, attempting to start a career, with exacting performances from a cast, presented with a script and characters to really embody. They do so at the Old Vic and I wonder if this is perhaps something of a statement about a previous head of all things, now exposed for aspects of his behaviour, perhaps I am reading too much into things..

Ownership

Mood Music explores the blatant abuse of power and use of young women in particular. The tensions, contradictions and hunger for validation. This is a timely play if nothing else, but something else it certainly is. A wickedly brilliant insight into the mind of a psychopath, a man detached from any sense of responsibility, guilt or shame. We get to see the workings of some brilliant therapists, whose laser-like precision on identifying root causes, the projections and transferences are dismissed as fraudulent by one who is desperately wrestling with her own sense of fraudulence and by another who merely toys with words that simply have no meaning, where everything is blurred.

The music industry is rife with the scenario portrayed in the play, yet we are also reminded that it exists in all walks of life. It seems that hardly a week passes without yet another “great” being exposed for their very base, flawed behaviours. The media which brought fame and success is now a very real double-edged sword, or perhaps more accurately providing a new meaning to double exposure.

Financial services is yet another sector that is largely run by psychopaths. This is perhaps why the regulatory punishments that are handed out have, for very large businesses (Banks) made such little difference. The penalty is invariably worth the short-term gain and one thing that seems reliable is the investors short-term memory (we tend to forget how badly some have behaved) and general inertia (we don’t move our accounts).

Still not enacting the Kill Clause

I recently came across a mailing from a large bank, that over the years has been in hot water on a regular basis, yet even now, with their charges in black and white, almost clear, there is a sense that even this will not be enough to motivate investors to leave. I wonder if this is so do with behavioural economics – an unwillingness to admit error and move on, hoping, despite the historic evidence that this time will be different. Well, today is different, just like every other day. Little actually changes.

The systems that support the vampire-like tendencies of those “in charge” threaten the well-being of us all, not because they go unpunished, but because they simply do not care. Detached from the real life of ordinary people, money becomes a game where scores are kept without any conscience or awareness of what the point is.

As for Mood Music, catch it at The Old Vic. Fantastic performances by all the cast, notably Ben Chaplin and it runs until 16 June. Some quite brilliant lines from playwright Joe Penhall.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

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Mood MusicDominic2023-12-01T12:18:05+00:00

Flying Solo

The new prequel-offshoot has finally landed in the UK. Solo is the backstory of Han Solo who together with Luke Skywalker and Princess Leia, changed the face of sci-fi movies over 40 years ago. This is the new story of how Han became Solo.

The ancient writers used to use the creative license of “deus ex machina” where a story could be moved along, and plot flaws salvaged by the introduction of a person or thing appearing suddenly. As with all things sci-fi, the genre itself is of course open to almost any possibility, but time travel, lightspeed are all part of the backdrop.

At the very end of the movie, we are presented with a deus ex machina, where a character previously presumed dead from a prequel to the original series, is back, very much “alive”. For those that care, (and boy some Star Wars fans are particularly “protective”) this tends to mess with the timeline, or at least appears to. Let’s just say the character is half the one he was and likely to make a return at some point should the money require it.

Your Story, Your Timeline

In the real world of financial planning, we do not get the opportunity to radically alter your timeline. We will help you to consider your story and your future carefully, revealing when some of your goals can be achieved or if they are simply unrealistic. In short, we present multiple versions of a future that is yet to happen. Sadly, we cannot adjust the past, we cannot start the investment and savings plan that you should have started all those years ago. We cannot set up financial protection now that you have been diagnosed with something dreadful.

As we look forward with a new hope, it is flimsy unless some action is taken, some plans implemented, stuff gets done. The only way to address the future is to face it in the present, with the lessons from the past. What might they be? Invest in a diversified portfolio of equities, ideally within some form of tax reducing wrapper, become a part-owner of the best companies on planet earth.

As for Solo – well its ok, I enjoyed it, “not as good as the original” but it was a solid 6/10. Chewbacca’s standard roar/growl response probably nails it.

Here’s the trailer. Warning: contains lots of British actors.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email [email protected]

Email me to get in touch

Flying SoloDominic2025-02-03T10:37:20+00:00