So, you know what I did this summer…

Solomons-financial-advisor-wimbledon-blogger

So, you know what I did this summer..

This summer reminded me that active experience of something is more helpful than a knowledge of it. I have not moved house for 21 years and this summer, circumstances were right for a move.

On average, people move house every 7 years. At least that’s one statistic that I heard proclaimed with great certainty. Obviously many of our clients have moved over the years, and I have also spent the last five summers moving my daughters between home, university, student houses and a first new flat. So the physical hauling of stuff and the “letting everyone know” is certainly a current, up to date experience.

We haven’t provided mortgage advice for a reasonable number of years and have referred this service to a very good adviser that does. However I am very glad we don’t, because the degree of uncertainty is far too uncomfortable for me. Selling and buying houses brings out some rather unpleasant aspects of characters and I was reminded that just because someone agrees a deal, doesn’t mean that they will keep their word. Dishonest buyer intentions and motivations, attempting to manipulate every opportunity to their full advantage….perhaps I am just a bit naïve and not “cut-throat” enough.

Agents and disruption

The process was helped to some extent by technology, but if ever there was a case for some much overdue “disruption” the conveyancing and payment of funds process must surely warrant some smart techno-genius with ample opportunity to shake things up. Waiting for responses to questions, funds to clear, agreements to be honoured felt far removed from this instant internet age. Apparently nobody knows a conveyancer that is any good… (least of all Estate Agents who deal with them all the time). I did not know this.

Still, we got there in the end, happy enough with the agreement. Like everyone else I don’t want to have “paid too much” or “bought at the wrong time” but equally, this is a house for a home, not a share. Sure we are investing in the future, but there’s rather more to it than simply the price tag of a house isn’t there.

As for the Estate Agents… despite the general national view, I found all of them to be genuinely helpful and decent people, sure there was incredibly good use of photography and a couple were poorly informed, but my experience was pretty good, I have no complaints…. And I now have far greater empathy for those of you that have been through this process in the last few years. Stress levels get tested needlessly, I certainly hope that when it comes to financial planning, we remove all unnecessary stress.

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]

So, you know what I did this summer…Dominic2023-12-01T12:19:04+00:00

A Day of Infamy – Alex Massie

Like any normal person, I was appalled by the murder of one of our politicians, Jo Cox, yesterday. I came across a very good piece online by Alex Massie, writing in The Spectator on this subject which he wrote yesterday. I’m not an expert in copyright and have no desire to plagiarise his content, but would simply encourage you to read it if you can.

He writes movingly and powerfully about the way the EU referendum has impacted us all. Whichever side of the debate you are on, this is one piece that is perhaps most sobering of all.

You can read the full article by clicking here.

Oh – the image I used is from the cover of 6th June, not the current one.

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]

A Day of Infamy – Alex MassieDominic2023-12-01T12:19:09+00:00

Life is journey… and the new Momondo viral ad

Life is a journey and that new viral ad

I came across a powerful new advert, shared within social media. This seems like perfect timing for the message of a common humanity as we are only a few days away from voting about continued membership of the European Union, a battle that seems largely to hinge upon immigration and border control, which is fairly odd given that when asked about immigrants most of those opposed seem to always cite people from Syria, Africa (apparently many think this is a country rather than a continent), Pakistan or India… which I believe are still some distance outside of the EU, but hey let’s not confuse ranting with facts.

There is no doubting that it has a great value as a message. However after digging around a little, it seems that all is not quite as it appears. For starters, there’s something to sell. There are actors, not samples of the general population and in fact, DNA is not quite so straight-forward. As I advise some fairly senior medical people, I’ve also asked for some thoughts about it… from a professional medical perspective.

However, that doesn’t undermine the value of the message, we are all connected.

Here is that viral ad…

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]

Life is journey… and the new Momondo viral adDominic2023-12-01T12:19:12+00:00

Eddie the Eagle

I wonder if you’ve come across the new film – Eddie the Eagle. You will probably remember the something about Eddie Edwards from Cheltenham who became the British ski jump representative in the 1988 Winter Olympics

You will recall that Eddie was something of a comic figure, who arguably couldn’t be anything other than British. He was self-funded, largely self-taught and started learning to ski jump relatively late in life. However, the indisputable “have a go” attitude won him numerous fans and despite being less than an underdog (there was no chance he could actually win) he holds a place in our memories. How many Olympic ski jumpers can you name? I dare say that Eddie the Eagle is one on a very short list… unless you are an avid skiing fan.

In fact Eddie was pretty good at skiing anyway – a decent downhill skiier – competing successfully, he missed out (the film suggests excluded) on the national squad based on aspects that were little to do with ability. He was certainly motivated and someone that deserves huge praise for his determination, a trait that seems in woefully short supply.

Soaring Success

Success then, might be considered differently. It is not simply about winning a gold medal or having an enormous house, yacht, car or looking a certain way to fit into certain clothes. Success is far broader and plainly ought to be determined by our own goals and values, not those of others.

Whatever you believe about wealth, and it seems many believe some fairly strange things, the reality is that wealth is also defined broadly. Financial planning is not about making you the richest person in your community, it is about helping you to identify those things that are actually of value to you, invariably these have little to do with money, but rather more to do with relationship, values and legacy.

Unlike Eddie, your financial planning will probably not be televised, but like him, you can achieve some pretty impressive personal goals – but inevitably there will be some risks, some resistance, perhaps some detractors and plenty of distraction.

As for the movie, to be honest it took ages to get going, and it was painful viewing at times, but in the end it turned out to be an uplifting, warm-hearted story, albeit with some artistic license. The reminder that you should never allow others to determine what you are capable of.

Here’s the trailer for the movie.

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]

Eddie the EagleDominic2025-01-27T16:09:19+00:00

Sunset Boulevard

There is something deeply unsettling about the musical Sunset Boulevard which I saw recently. It is currently on at the London Coliseum and stars Glenn Close, (now 69) who most will know from the 1987 movie Fatal Attraction.

The story is one that examines the Hollywood life, or more accurately, the very short shelf-life of movie stars, particularly female ones. Spoiler alert – this is not a new musical, so I will assume its ok to outline the plot. In essence movie star Norma Desmond (Greatest Star of All) of yester-year has long since been discarded and “forgotten” (personally I’m not convinced that this really rings true). The new generation of actors “who need words” are currently all competing for the limited number of roles… and we all know the stories about the casting couch. As with many things in life, the Hollywood honeypot attracts a great variety of bees, the talent pool is more than sufficient, yet to get a good idea or script turned into a good movie – that’s another matter entirely….”Every Movie’s A Circus”.

Money and Happiness

Money or the lack of it, poses problems for “our hero” Joe Gillis, a cynical and weary writer who sees both Hollywood and himself for what they are. Lack or perhaps need (or even desire) leads to compromise. Our writer hooks up with the much older actress Norma, who is portrayed as delusional, perhaps mad, but certainly someone with narcissistic problems. A relationship follows, built upon mutual desperation for something the other appears to provide, yet both are caught up in a self-serving but deceptive story that they tell themselves. “The Lady’s Paying” is a song reflecting Joe’s willingness to let someone else pay… perhaps some self-reflection on this point might result in better questions which move us all forwards about the Panama Papers rather than “how much?”

Whilst I will admit that this is an old story (originally produced as a movie in 1950 by Billy Wilder) so set with that world view, it is frankly all rather too familiar and depressing that older women pairing up with younger men, to feel young are “mad” yet in the very same breath all the male characters pair up with younger women – for the same reasons, and this is “macho”. A woman wanting something, particularly her youth or at least not to be forgotten is typically portrayed as struggling with mental health issues. Yet this is of course an issue that men and women face, with double standards applied by men. The number “Eternal Youth Is Worth a Little Suffering” seems only to point to the outward. Whilst I recognise that this is a period story, it is surely attempting to prompt questions of today… in a culture that is obsessed with appearances, selfies and celebrity…. “I’m ready for my close-up”.

Caught in the Spotlight

The irony of an audience in 2016 largely turning up to see Glenn Close in the title role, merely confirms our fascination with the stars, who now bring considerable ker-ching to the boxes offices of the West End. The audience was enraptured, yet this is certainly not one of the better musicals in the West End, and I was left wondering if the sun had not set on this portrayal of “older” “mad” women. In fairness, it is not clear how old Norma is meant to be, at one point Joe implies that she is 50… (but even in this comment, it is unclear if he is still being “nice”)… so the mere fact that an actress aged 69 playing a 50 year-old rather suggests we have moved forwards, back then women over 35 “didn’t exist”…

Of course, the truth that we all know is that life is short, we cannot deny the aging process and at some point we will become a memory. Hence having a financial plan that reflects your values, not merely your “value” and being in control of your money, rather than it being in control of you, is my way of attempting to address the money/happiness question.

As for the original, 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]

Sunset BoulevardDominic2023-12-01T12:19:17+00:00

Liquid Gold

I came across an item that made me think. You may remember the Nescafe Gold Blend adverts from years ago, well coffee as we all know, has moved on since then. We have a Nespresso coffee machine here at the office, which dispenses some very nice coffee, but I’ve been challenged to think if I should make a small stand by not buying anything from Nestlé. The challenge is acutally two-fold – the recycling of the pods and also the information that I have been presented with about Nestlé.. who appear to have spotted that water is the new gold blend – liquid gold.

The story is a familiar one, large multi-national company, exerting its power in a way that appears to put profit before people or the environment. Nestlé is a familiar giant such a discussion, if you recall the way in which they marketed substitute (powdered) breast milk in poor countries, where breast-feeding was sufficient. This began in 1977 and as far as I can tell continues to rumble on.

This is a story about bottled water, which is probably one of the best scams of modern times – more expensive than oil, invariably sold in plastic bottles that can make the water more toxic when warm (think container ships, lorries, trains, hot days)… when the water in your tap is probably better. Anyhow, Nestlé want to bottle water from a town in Oregon. I don’t know the facts about this case, I am merely sharing them to prompt a few thoughts.

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]

Liquid GoldDominic2023-12-01T12:19:19+00:00

Those overpaid teachers….

Those overpaid teachers…

This is an item I came across online that amused me and felt it should be reproduced. I imagine and hope that all of us can remember at least one inspirational teacher, probably rather more. As in all things, people are people and some are far better at their work than others. No single profession or group are all good or all bad. However I have come to deeply respect teachers over the years and they have had more than their fair share of mountains to climb. So here is a piece that I am reposting in response to criticism that is seriously misplaced.

Are you sick of highly paid teachers?

Teachers’ hefty salaries are driving up taxes, and they only work 9 or 10 months a year! It’s time we put things in perspective and pay them for what they do -babysit! We can get that for less than minimum wage. That’s right. Let’s give them £5.93 an hour and only the hours they work; not any of that silly planning time, or any time they spend before or after school. That would be £41.51 a day (8.30 am to 3:30 PM with 30 min. off for lunch and play –that equals 7 1/2 hours).

Babysitting Service

Each parent could pay £41.51 a day for these teachers to babysit their children. Now how many children do they teach in a day…32? So that’s £41.51 x 32 = £1328.32 a day. However, remember they only work 180 days a year!!! I am not going to pay them for any holidays .LET’S SEE…. That’s £1328.32 X 180= £239,097.60 per year.

Hold on! My calculator needs new batteries. What about those special education teachers and the ones with Master’s degrees? Well, we could pay them minimum wage (£6.90), and just to be fair, round it off to £7.00 an hour. That would be £7.00 X 7 1/2 hours X 32 children X 180 days = £302,400.00 per year. Wait a minute –there’s something wrong here! There sure is! The average teacher’s salary (nationwide) is £25,000.00/180 days = £138.90 per day/ 32 children = £4.34 / 7 1/2 hours = £0.58 per hour per student–a very inexpensive babysitter and they even EDUCATE your kids!) WHAT A DEAL!!!!

(from a post online)

In support of teachers

Whilst it is true that teachers have half-term and end of term breaks. It is grossly unfair and misleading to assume that they have lots of time off. The increased testing and micro management implemented over the years by successive “we know best” Governments has essentially replaced a lot of teaching with a lot of form filling. Something that the bueracrats are attempting to introduce everywhere with their obsession about “outcomes”.

The reposted story above assumes a very unusual day. I am unhappy to report that I know a great many teachers who work at least 12 hours a day often 6 days a week. They are exhausted. This is the experience from top to bottom across the age spectrum.

I appreciate that the reposted story is only one way of considering the numbers. There are many costs in running a school, not simply the cost of each teacher.

Let me pose a question. If we actually believe the experts who tell us that the formative years are the most important to “personhood” which has a life-long impact on citizenship, the ability to be part of a community that thinks and acts beyond self; shouldn’t we be investing in children and those that inspire and encourage them for the greater good. After all, these children will grow up to one day govern, pose and vote on laws about social policy, including whether you are cared for or dispatched early to make way for the new (which makes more “economic sense”).

Of course the same could be said of many aspects of our “State employees” – doctors, nurses, firemen, police and so on. The constant undervaluing and bogus attempts to apply market values to everything is utterly flawed.

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]

Those overpaid teachers….Dominic2025-01-23T10:56:16+00:00

Year of the Monkey

Today is the start of the Chinese New Year – the 8th February. It will be the year of the Monkey. I’m sure that many will be hoping that the Chinese economic slowdown will not cause further anxiety across global markets. Many will be very glad to see the back of the year of the goat (supposedly calm and gentle).

Traditional Chinese superstition suggests that when your zodiac sign comes up, you have an unlucky year. So as that’s every 12 years, anyone born in 2004, 1992, 1980, 1968, 1956, 1944, 1932 or 1920 (though that would mean you are 96 already). So anyone born in those years, will presumably be hoping that superstition is simply that, and there will be no discernible decrease in their “luck”. To make matters worse (or better) this is the year of the Fire Monkey – one that is ambitious and adventurous but irritable. Each zodiac sign also has a partner of five potential elements, (metal, water, wood, fire and earth) which come around every 60 years.

Destiny and Control

Admittedly I know little of the Chinese Zodiac, I seemed to recall that red was thought of as a lucky colour by the Chinese, apparently not if you are a “Monkey”…. And also avoid the numbers 2 and 7 and any containing them! However if its 4 or 9 you are in luck. This seems a little at odds with the suggestion that your lucky dates are the 14th and 28th of any Chinese lunar calendar month (even months 8 and 12 which are otherwise “unlucky”).

I guess we all have ways of coming to terms with aspects of life that are outside of our control so formula and superstition, particularly ancient ones, tend to offer some form of comfort and possibility of controlling that which cannot be controlled.

As for me, when I think of Monkey, I think of the rather strange TV series from the late 1970s of the same name and the 2008 theatrical opera “Monkey: Journey to the West” which Damon Albarn (Blur) wrote. Of course the 1995 movie “Twelve Monkeys” which was one of my favourite also comes to mind and is perhaps rather more relevant for those attempting to change the course of history through time travel.

Here’s the trailer for Twelve Monkeys and if you are Chinese, well Happy New Year!

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]

Year of the MonkeyDominic2023-12-01T12:19:29+00:00

The Master Builder

The Master Plan

Perhaps it has something to do with the start of a New Year, or perhaps it is simply a case of my awareness of the ageing process is becoming more pertinent; but there seems to be a lot of “stuff” about ageing and the need for a master plan for life.

Ralph Fiennes is currently starring in Ibsen’s “The Master Builder” at the Old Vic. I managed to see this on Monday night, it was very well performed with Fiennes having a huge amount of dialogue to remember. However… perhaps I’m a philistine, but I simply didn’t get it.

The play, (which I haven’t read) centres on a man (Halvard Solness) who, frankly, has some “issues”. Somewhat of a control freak and ultimately has a bit of a god-complex. In essence he is a possessive man, who believes that by wishing something he makes it come true.

He has risen to “power” (in the days of small-town notoriety) through hard work and “good luck” (and the misfortune of others) despite having no qualifications, simply mastering the skills “on the job”. However, he holds the view that this success has a price, which I guess is Ibsen’s attempt at discussing the price of success. The price, that is paid, seems largely to be fear of the constant younger generation taking what he has.

Get out of the way…

Ultimately, Solness does indeed lose everything to the clamour of the younger generation, but totally through his own unfathomable actions. This involves a rather strange relationship with a young girl, Hilda Wangel, who can only be described as mad or at best delusional. Indeed at one point I wasn’t sure if she wasn’t simply meant to be a figment of his imagination, but as others talk with her, I assume that this isn’t the case.

I’m sure that some freudian references could be made to the relationship that Solness has with Wangel, her assertion of his ability to build towers, her apparent disregard for marriages and his confusion about his signficance, whilst she inspires him to new heights of potency.

A better bit of thoughtful planning?

I suppose the play reveals some lessons about marriage or relationships generally. The rather obvious need to communicate, and in particular not to avoid talking about the really important things (unlike Solness) which perhaps would have laid the foundations for a proper “life plan” to work on together.

Financial planning is essentially doing just that. If it’s done well, it will reflect your values. To date I haven’t discussed whether a successful financial plan has a price, in the sense of some form of karmic balance (a yin to the yang) but clearly any choice has a sense of this to it. Saving means not spending it all. Investing means taking a patient long-term view not than the short-term gain. Unlike Solness, wishful thinking has no part in a good financial plan – and a decent planner will help you remain grounded, not building castles in the sky.

The Master Builder is playing at the Old Vic until 19th March 2016. I’d be interested to hear your take on it! Fiennes is typically brilliant with a strong cast.

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]

The Master BuilderDominic2025-01-27T16:09:34+00:00

Life is brief

As I wrote on Monday, life is short and we need to make the most of the one we have. As yet another celebrity’s death is announced, I’m reminded of the first play that I saw Alan Rickman perform in. I was still at school, studying for my A’Levels. It was 1985 or perhaps 1986 – I’m not sure which, he was playing Jaques in “As You Like It” at the RSC in Stratford.

I had the impression that my English teacher was rather taken with one of his speeches…. one that is perhaps one of the most famous Shakespeare quotes. It was apparent to anyone in the audience that Rickman (and Juliet Stevenson with whom the stage was shared and they later collaborated in Truly Madly Deeply) was a great actor with a bright future and this was shortly followed up with a Tony award nomination performance in Les Liaisons Dangereuses, which I was also lucky to see, I think in London.

Shakespeare’s words were brought to life for me on that day, by some great actors, Alan Rickman being one of the very best. I last saw him at the London BFI Film Festival, where he was presenting his film “A Little Chaos” which is good little film.

All the world’s a stage..

All the world’s a stage,

And all the men and women merely players:
They have their exits and their entrances;
And one man in his time plays many parts,
His acts being seven ages. At first the infant,
Mewling and puking in the nurse’s arms.

And then the whining school-boy, with his satchel
And shining morning face, creeping like snail
Unwillingly to school. And then the lover,
Sighing like furnace, with a woeful ballad
Made to his mistress’ eyebrow.

Then a soldier,
Full of strange oaths and bearded like the pard,
Jealous in honour, sudden and quick in quarrel,
Seeking the bubble reputation
Even in the cannon’s mouth. And then the justice,
In fair round belly with good capon lined,
With eyes severe and beard of formal cut,
Full of wise saws and modern instances;
And so he plays his part.

The sixth age shifts
Into the lean and slipper’d pantaloon,
With spectacles on nose and pouch on side,
His youthful hose, well saved, a world too wide
For his shrunk shank; and his big manly voice,
Turning again toward childish treble, pipes
And whistles in his sound.

Last scene of all,
That ends this strange eventful history,
Is second childishness and mere oblivion,
Sans teeth, sans eyes, sans taste, sans everything.

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]

Life is briefDominic2023-12-01T12:19:34+00:00