New year, new me and all that

Jemima Thomas
Jan 2023 • 4 min read

New year, new me and all that…

This year I decided to do a ‘semi-dry’ January. I’m not one for resolutions usually, but after a Christmas spent both in London and Manchester filled with seeing lots of friends and family, there was a fair amount of celebratory gatherings I was a part of, and it would be nice to start the year feeling lighter both mentally and physically (as well as saving a bit of money this month!).

When it comes to changing habits, I’ve learnt that stopping anything abruptly and going ‘cold-turkey’ never works for me. It always feels like I’m punishing myself when I’m effectively trying to ‘better’ myself, which makes no sense at all. If I want to cut down on something, weening myself off is the most doable (for me at least).

That being said, by the second half of 2022 I was putting away larger amounts into my savings than usual. I had set myself a realistic goal, and even with all the fun winter festivities going on, I’m proud I kept at it. I’d be lying however, if I didn’t acknowledge that I did feel some guilt and a little sadness by doing it. I like to splurge on my loved ones, and I’m annoyingly a ‘yes person’ especially when it comes to an event that involves all my friends. But this Christmas … I resisted. I stuck to my budget on how much I’d spend on each person and I didn’t waver, I turned down (a few) more excessive meals or theatre shows, and I prioritised what was most important.

As someone who’s not a great saver, this is all a pretty huge deal, and I have no regrets on sticking to my guns. I won’t hide the fact that compromising my lifestyle can sometimes be harder than I would like. Of course I could make it easier by putting away less, but knowing that my future self will be in a better position has made the compromises a positive move. I hope I’ll feel the same in February after I’ve had fewer gins and tonic.

I value and respect those who are honest about their experiences when it comes to compromising, as we all do it often in life (in our relationships, our finances, our work etc). It’s making sure that these compromises are worth the long-term goal. If they’re not, a readjustment is needed. This is why here at Solomon’s we strive to ensure that our clients feel comfortable and positive in long-term planning, because the fruits of the compromise can be golden.

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 info@solomonsifa.co.uk

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New year, new me and all thatJemima Thomas2023-12-01T12:12:39+00:00

Merry Christmas from the Solomon’s team

Jemima Thomas
Dec 2022 • 1 min read

Merry Christmas from the Solomon’s team

We hope you have a very merry Christmas, and are able to really take time to stop and relax. This year has been filled with the never-ending chaos that the world continues to throw at us all, so here’s hoping that 2023 is full of light and hope.

We are all now on our Christmas break and Solomon’s will be closed from lunchtime on Friday 23rd December. If your query is of an urgent nature, please call the office on 020 8542 8084 and leave a voicemail for us (these will be monitored during the festive break). We re-open on Tuesday 3rd January 2023.

From Left to Right: Sam, Dan, Dominic, Debbie, Jemima and Abigail.

Once again, from all the Team at Solomon’s – we wish you a very Merry Christmas and a Happy New Year!

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 info@solomonsifa.co.uk

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Merry Christmas from the Solomon’s teamJemima Thomas2023-12-01T12:12:39+00:00

Christmas is no laughing matter

Sam Harris
Dec 2022 • 4 min read

Christmas is no laughing matter

Christmas is a time that is often quite stressful for many, but nothing worth doing ever came easy. Between untangling the mangled monstrosity of tree lights and the pure mayhem of Christmas dinner, there are moments of joyous magic that keep us looking forward to it every year. So here are a few ‘festive funnies’ to get you into the Christmas spirit!

What do you call Santa if he goes bankrupt?

Saint Nickel-less

Why can nobody buy Rudolph and Blitzen from Santa?

They’re two deer

What do fish sing during the holidays?

Christmas corals

Why did the Grinch go to the bar?

He was looking for some Christmas spirit

Why do Christmas trees live in the past?

Because the present’s beneath them

Why can’t you eat Christmas decorations?

They cause Tinsel-itis

Why is it getting more difficult to buy advent calendars?

Because their days are numbered

I apologise if some of these jokes are a tad corny, but that’s just how eye roll!

Merry Christmas one and all!

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 info@solomonsifa.co.uk

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Christmas is no laughing matterJemima Thomas2023-12-01T12:12:40+00:00

Planning – Christmas is coming

Debbie Harris
Dec 2022 • 6 min read

The goose is getting fat, Christmas is coming

As I write, it is the middle of November, but we are galloping towards the festive season at a pace – bombarded by supermarket adverts, neighbours putting their fairy lights up (already!), and the internet promising fantastic bargains if you are willing to part with your money on one particular day of the year.

It all seems so frenetic (and it is), but this year I have decided to slow things down a little; get my priorities in order; and be mindful during the planning process (there it is … the P word!).

As a financial planning firm – these are three things that are crucial to a job well done and a job done well.

1. SLOW DOWN

Hit the ‘pause’ button; take a break; stop – you cannot see the wood for the trees if you are running around the forest like a headless chicken

2. PRIORITISE

Figure out what is important; what you really care about; what matters – only in reflection and introspection do these things become clear

3. BE MINDFUL IN THE PLANNING

It’s all very well to have grand plans and ‘big goals’; but we HAVE to be realistic around what can be achieved with what we have. That visit to Lapland to race red-nosed reindeer will have to be put on hold! We must also remember that time is a finite source – things can be done with all the time in the World; but we don’t have the luxury of that – our tomorrow is never guaranteed

PLANNING – ENJOY THE FRUITS…

All that in mind, I have booked tickets to see a pantomime with my daughter this year (Cinderella ON ICE!); I will be attending a choral performance at a theatre (on my own – I couldn’t convince any of my lot to join me!); I have a ‘Christmas Jumper Evening’ at a pub scheduled next month and I have arranged a shopping-followed-by-dinner date with my siblings. All things that bring me joy; all things that I have carefully selected to do with my time; all things that I will be able to look back on with a smile.

I’m not so worried about ‘the big day’ itself (although I have ordered my turkey … who knows whether I’ll actually get it … bird flu has wiped out huge swathes of the turkey population across the UK this year) – there’s always a slightly anti-climatical feel to the day for me – I enjoy the build up; the anticipation; the socialising – but once the turkey and trimmings have been devoured; it’s all over and there is a sadness to that – the tinsel doesn’t look so shiny; the leftover orange creams in the Quality Street Tin look resigned to their fate; and the tree is a dry, droopy version of its former glory.

I always enjoy the post-Christmas clean-up to be honest … it always feels good to clear away the (admittedly pretty) clutter and start the New Year with a clean, fresh slate (one of the reasons why I love Mondays too I think!)

So whatever your Christmas will look and feel like; whatever your preferred ways are to spend your time; whatever your beliefs about gifting and celebrating; I hope that you are able to plan your festive season mindfully and to execute your plan beautifully.

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 info@solomonsifa.co.uk

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Planning – Christmas is comingJemima Thomas2023-12-01T12:12:41+00:00

Curry & fi-naan-cial planning

Curries financial planning (Fi-naan-cial planning)

In my opinion, nothing can beat a homemade curry to warm your cockles as we approach another cold, British winter. But last week, as I was bearing the brunt of chopped onions I thought to myself ‘What could be worse than this? Ah! I know! Writing a blog about it.’ All joking aside, it occurred to me how similar the process of cooking is to financial planning. I will leave you to draw your own conclusions on this …

Preparation is hardly the highlight of either endeavor, but as in all things, one of the most essential. Imagine you’ve chopped your onions, garlic & ginger before moving on to the chillies, only to find you forgot to buy them or you don’t have enough. The horror! (“In my book a Korma is pointless, it’s futile. I won’t touch it.” A curry needs heat.)

I’m also a fan of smoother curries than usual, which requires several ingredients to be chopped very finely or blitzed in a food processor – but everyone has different preferences (whether we are talking about food or what they will do with their financial freedom).

Once the initial prep work is done, it’s time to heat up the pan and get your aromatics in. Starting with a small amount of vegetable oil and a reasonably large amount of butter/ghee. Fat means flavour and will make your sauce rich and velvety. Onions are added first (it is important to remember that the order in which you do things matters…), followed by garlic and lastly the chilli & ginger. Adding ingredients one after the other rather than all at the same time will help layer the flavour of the sauce; giving depth to the dish. Often we do things for clients here at Solomon’s in waves or phases – the timing and order of those is important (even though at times it may seem arbitrary).

Once the vegetables are cooked through and slightly softened, your home will smell incredible but that’s far from the end of the story … we haven’t even added any spices yet! The importance of mixing the spices with the aromatics in the frying pan is that as you toast the spices, they’ll begin to release all of their wonderful oils & aromas. This takes time. At this point you’ve got a curry paste that can be smelled simultaneously in multiple postcodes.

Only a keen eye and an experienced hand knows when the time is right to combine the elements of the paste with the base of your sauce. I like to use passata (sieved tomatoes) due to that smoothness factor, but personal preference plays a part here. The two need to be mixed well, so you have to be fairly vigorous and focused on the task at hand. At this point, I tend to add some fresh coriander to provide yet another level of flavour to the sauce, though I use a clever herb infusion device that hangs off the side of the pan which allows for easy retrieval of spent herbs… it’s a universal truth that experts in their field often have tools (and talents) at their disposal that are not commonly found elsewhere.

The final step is to simply add cream or crème fraiche. This will help further the silky richness of the sauce. All you need to do is bring the sauce back up to temperature. Just before it starts boiling, lower the heat and allow the curry to simmer and thicken for as long as you can hold off the urge to eat it. Generally the longer it’s left for flavours to get to know each other and any water to cook out, the better the result. We often talk about taking a long-term approach to your financial planning as it takes time to see all the component parts of a plan (or recipe) come to fruition.

Once your sauce is ready you can add in your preferred meat (or veggies) and just let it ‘cook in’. Let’s not forgot thought that it also matters what you serve with your curry – everyone has their preferred accompaniments! Whether you like a speciality rice or just plain boiled; a keema nan or a paratha; a Bombay aloo or a bhajee … just like financial planning – no two palettes are the same and you need to be mindful that the flavours you introduce to go with your curry complement that which has been carefully created.

A gorgeous curry and a great financial plan take time and care. Experience and patience.

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 info@solomonsifa.co.uk

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Curry & fi-naan-cial planningJemima Thomas2023-12-01T12:12:42+00:00

Last man standing

Brazilian Walter Orthmann (who turned 100 earlier this year) holds a Guinness World Record for the longest career in the same company. He has worked for his employer for more than 84 years (and is still there)!

Walter ‘started at the bottom’ and worked his way up (from shipping assistant; to sales; to management). He believes that the best part about having a job is that it gives you a sense of purpose, commitment and routine.

Over the course of his 84-year career, he has travelled extensively and has collected pay in nine different currencies.

He has learned from necessity and experience how to adapt to all kinds of change, both within the company and out in the world.

However, what interested me most as I read his story is his focus on ‘the now’ – he says:

“I don’t do much planning, nor care much about tomorrow. All I care about is that tomorrow will be another day in which I will wake up, get up, exercise and go to work; you need to get busy with the present, not the past or the future. Here and now is what counts. So, let’s go to work!”

This statement is utterly at odds with our ethos here at Solomon’s for financial planning which is all about thinking about where you are now; where you want to be; and of course how to get there.

So I have to assume that Mr Orthmann did not want ‘more from life’ than this; that he has a passion for his work; that he is totally comfortable with his decisions and doesn’t feel like he has ‘missed out’ on anything – I certainly hope for his sake that my assumptions are correct – otherwise his life story would feel like a very sad tale indeed.

Our role here is not to tell you what your retirement should look like – it is to help you visualise this for yourself; and to help you prepare the way for that to come to fruition. No two retirements look the same and we do not attempt to ‘shoe horn’ anyone into planning for things that simply don’t interest them.

We are yet to hear any of our clients say that they want to plan to remain employed until they die – largely our clients want to be able to devote time and money to other things (although we do have some clients who continue to work well into their retirement – but there is balance; and they are working because they want to rather than out of necessity).

And maybe here is the problem I see in Walter’s case – as a result of his lack of planning ahead and thinking about the future, it also has to be true that he didn’t ‘plan’ to keep working – it just happened. And I think it’s a little sad that he wasn’t interested in being a little more pro-active about his life. His World Record is a result of apathy and inaction; of letting life happen rather than choosing what his life would be.

We often ask our clients what advice they would give to their 20-year-old selves and I wonder what Walter would say in response to this question …

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 info@solomonsifa.co.uk

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Last man standingJemima Thomas2023-12-01T12:12:42+00:00

Leaving a legacy behind

Most of us want to leave a legacy – whether that be children, grandchildren, a financial inheritance, making an impact in our job or the charity we support. But what if our legacy can be bigger than that … ?

Having just had England’s hottest Summer on record, it feels poignant to think about the small steps we can take in the ‘here and now’ that lead to achieving bigger picture goals in the future. With harsher, colder Winters becoming a growing reality and hotter, drier Summers becoming the new norm, we must ask ourselves – what are the small things that we can do in our everyday lives that will help slow down these potentially drastic climate changes?

There are lots of things we can do and we know that many of our clients take this responsibility very seriously, but here are some of the things that are important to me personally and that I have made a conscious choice to be mindful about:

Reducing meat consumption

Cutting down on meat consumption is a big way that we can impact our environment – particularly since the way that we currently farm is not sustainable. Forests and habitats are cut down to provide space and to grow feed for animals – which leads to reduced biodiversity. Cutting down rainforests to use the land for beef farms also has a direct link to how our water cycle works

Purchasing locally grown food

Eating local produce reduces fuel emissions that result from importing food from across the world

Supporting organic farmers

Whilst organic food is more expensive, it supports our ecosystems. Pesticides (used in producing non-organic products) have been linked to causing hormone imbalances (amongst other things) in the body, all of which can cause a whole host of health issues. It is currently legal in many countries across the world to use pesticides that kill pollinating insects – which as we know are crucial for the health and future of our ecosystems

Changing travel routines

Walking or using a bicycle is a great way to stay fit and healthy, as well as keeping our environment free of pollutants. Using public transport or car sharing is a good way to lower our carbon emissions. Thoughtfully choosing a car that can be charged using electricity or has a good C02 emissions rating or thinking about whether or not your family really requires multiple cars is all about being mindful of our decisions and the impact that they have globally

Reusing and recycling

There is so much unwanted household waste from clothes and furniture to broken TVs and toys that children have outgrown. Trying to fix things that are broken instead of automatically throwing them into landfill or giving things away to someone who might need them are two ways of getting the most use out of our possessions

I hope this brief look at the changes I am trying to make in my own life has motivated you to also think about the future we’re creating for the people we leave behind. Together hopefully we can begin to reverse some of the effects of climate change … small stones to create larger ripples.

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 info@solomonsifa.co.uk

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Leaving a legacy behindJemima Thomas2023-12-01T12:12:43+00:00

Tilly – the day my dog died

The day my dog died

You may have met Tilly, my golden cocker spaniel… well in truth she was a mix between a Cocker and Springer (a ‘Sprocker’). She often came with me to the office and (being a little too friendly) may have greeted you or been ushered into one of the other rooms.

Tilly was my first dog, after much ‘discussion’ and persuasion, I eventually capitulated to the calls from my family to take the plunge. That was back in 2009. I can tell you that the reasons for my reluctance to become a dog owner were largely right, but also totally wrong. The daily walks come rain, shine or snow did me enormous good – indeed much of this quiet time was spent thinking about how I could help clients, develop the business or simply be a better human.

Tilly became a companion and the phrase ‘a man’s best friend’ resonated. Not a human friendship of course, but one of complete acceptance of me. During lockdown, I took to posting rather more pictures of our walks together as I’d been encouraged to do so – some found it helpful to see the normality of a middle-aged bloke walking his dog. You can see many of them on my social media accounts should you wish to.

On holiday this summer it became evident that Tilly was not well. We returned home a day earlier than planned for a trip to the vet. Suspicions were confirmed and drugs to help with eating and weight loss prescribed. A couple of weeks later, she was in a poor state and reluctantly we made the decision to say goodbye. The vet said that this was definitely the right thing to be doing. I called my family so that they could all come home to say goodbye.

It was horrible. I suspect many of you have had such an experience, it’s horrid. There is the lingering feeling of ‘was this really the right thing to have done?’; to have been alive one moment and gone the next, so suddenly.

I was struck by my own feelings about the loss; genuinely deeply sorrowful. I could reflect on many lovely memories, but was acutely aware that this part of my journey was at an end. I found myself replaying that last day over and over in my mind – could I and should I have done things differently? The thing is, as we all know, it’s all so final isn’t it?

To be clear, grief isn’t a new experience for me. Sadly, over the last 30 years I have lost several close family and friends, and another dear friend in February. Not people from the expected older generation and not dying of ‘old age’, but invariably very sudden and catastrophic changes in health. These are experiences that many of us have had, and all of us have in the end.

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 info@solomonsifa.co.uk

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Tilly – the day my dog diedJemima Thomas2023-12-01T12:12:43+00:00

Lionesses changing the game

As the Summer winds down and draws to a close, for every football fan in the country it’s a fresh start. A clean slate for their teams to build a strong foundation for the long gruelling season ahead. However, this year, football came home. As an avid fan of the sport from a young age, seeing England lift a major international trophy for the first time sent me into hysteria! But once the initial elation simmered down, I thought about the magnitude of what they had actually just achieved. Not only had they won the tournament, they had dominated it. Our ladies were relentless, scoring 22 goals in six games. For comparison, only one other team scored more than ten. This unprecedented performance isn’t possible based on ability alone, the margins are too fine at the highest level of any sport. We need to talk more about their mindset and character.

All of us, at some point, have experienced considerable pressure (though the weight of a nation on your shoulders is surely an entirely different beast?). The knowledge that millions of people will be watching, pinning their hopes on you. Every decision made will be scrutinized across social media and in passing conversation. Ruthless critics will poke fun at every mistake, belittling women’s football at any opportunity. Which brings me to the point I really wanted to focus on here:

MENTALITY AND BUILDING FOR THE FUTURE

In the case of football teams, each player and member of staff needs to be absolutely committed in order to achieve peak performance. But perhaps more importantly, they need to have resilience. Ultimately footballers are human, just as anyone they’re susceptible to good days and bad ones. They experience swings in mood and form. This is where the Lionesses’ ability to face the test of adversity shone. England overcame an equalising goal from Germany in the second half of the final, by scoring the championship winner deep into extra time. In the past I’ve seen many an England side crumble in those situations. But The Lionesses stuck with it. (The moniker is well deserved).

But when I look inward, do I see that level of dedication and commitment within myself? How do I respond to adversity? Introspection can be difficult but valuable … identifying and isolating weakness or deficiency in your own character is never a comfortable task; though it is something we must do in order to grow as people and better ourselves.

That is precisely why the England women’s national football team has been a revelation. Each individual from that team possessed an irrepressible desire to do what the team needed of them without wavering. Earlier this year, I read an article on how Leah Williamson had been dealing with imposter syndrome ahead of the Euros. She talked about how there will always be critics, but after all the training, preparation and hard work; all that’s left to be done is enjoy the moment and give your all. Leah went on to lead the team to glory as Captain. And as we know – diamonds only form under intense pressure.

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 info@solomonsifa.co.uk

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Lionesses changing the gameJemima Thomas2023-12-01T12:12:45+00:00

THE BIG ‘FIVE – OH’!

TODAY’S BLOG

THE BIG ‘FIVE – OH’!

In our last edition of Spotlight (our client magazine), we had a loose theme of ‘milestones’ and some of our wonderful clients wrote about their own personal challenges and celebrations, so I’m sure that some of the content will have resonated with you.

During our planning sessions for the magazine, it was interesting to note that we talked less about ‘when’ and more about ‘what’ our own (and clients’) milestones looked like.

Whilst we make a point of celebrating ‘big’ birthdays and ‘big’ anniversaries, these aren’t necessarily the momentous occasions that mean the most to us.

For many, the milestones are educational, or career-based, or ‘stage of life’ – buying your first home, getting married, having your first child (or grandchild), clearing your mortgage, retiring, receiving care or going into a care home and of course the deaths of important loved ones.

These are the moments in our lives when we often consider all the effort it took to get there and the (often emotional) rollercoaster as we look ahead to our new ‘normal’.

That’s not to say that the traditional milestones aren’t important anymore – as one who is facing the big ‘five-oh’ later on this year, I find myself strangely serene about the aging process.

Ten years ago, the thought of becoming ‘middle-aged’ filled me with dread … but now that I’m comfortably there (!) it doesn’t bother me in the slightest.

As I reflect on my almost 50 years on this planet, I count my blessings often – my family, my health, a roof over my head, a great career. The future looks bright and I’m looking forward to doing more, seeing more and learning more.

My personal milestones are many and varied and I relish the fact that I have so many more to look forward to.

We have an ongoing conundrum here at Solomon’s – whenever we talk about ‘life is short’ there is an immediate contrast that ‘life is long’ too!

We advise clients for many decades (and often look after two or three generations of the same family) and yet through loss and grief, we know that our time here is not guaranteed. So there is always an element to our work of planning for longevity but accounting for brevity.

We cannot plan for every eventuality – our future milestones aren’t guaranteed – but we must surely seek to achieve as many of them as we can while we can.

And when I turn 50, I’ll be sure to celebrate all that I have achieved in my life to this point and embrace hope and expectation for a long and well-lived future.

Debbie Harris
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 info@solomonsifa.co.uk

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GET IN TOUCH

Solomon’s Independent Financial Advisers
The Old Bakery, 2D Edna Road, Raynes Park, London, SW20 8BT

Email – info@solomonsifa.co.uk Call – 020 8542 8084

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

Take Survey

PRIVACY POLICY | DATA PROTECTION

THE BIG ‘FIVE – OH’!Jemima Thomas2023-12-01T12:12:45+00:00