WHEN MONEY TALKS AND WE DON’T

WHEN MONEY TALKS AND WE DON’T

The lack of money will test anyone and has a tendency to play havoc with relationships. This is explored in the new movie “Wildlife” starring Jake Gyllenhaal, Carey Mulligan and new, rising star Ed Oxenbould. Set in the late 1950s at the crossroads of domestic politics in the US, we enter the world of an aspirational family. Jerry and Jeanette Brinson are shackled by their class background and struggling with compromises between their traditional upbringing and the reality of life as they experience it.

Jerry loses his job which seems to be something of a familiar story, this forces them to confront how the family might realistically pull together, meaning Jeanette would need to find work. Their son Joe helps out too, by finding after school work. Whilst the lack of money may be the catalyst, the sad reality is that the Brinson’s are not good communicators, each having flaws that make things worse rather than any better. Their dysfunction is played out before Joe, who struggles to comprehend how his once seemingly nice, normal family life becomes a chaotic lonely environment.

SOLOMONS IFA: MONEY STRESS IN WILDLIFE

Fighting the Bonfire of our Vanities

Whilst set in the late 1950s and early 1960s, there are of course parallels for today. The lack of work in parts of any country turns it into a wasteland with few signs of hope. Whilst it is undeniably true that the percentage of people in poverty is reducing, this does not mean that life is easy or even good for many people. It is precisely this lack of hope, the desire to blame anyone or anything different, that certain politicians will take advantage of. The sense of shame in being poor and the anxiety that it produces cannot be overstated. Jeanette will trade her dignity for security. Jerry will dice with death just to demonstrate his contempt for his lot. Joe, meanwhile (a boomer) is caught in the crossfire, trying to make sense of the gap between child and adult and what becoming a man might mean for him.

You get one lifetime but another shot at honesty

One of the biggest assumptions that financial plans make is that a couple remains together. Sadly, this can often be a mistake. That’s not to say that divorce or separation are a “sad” thing, it can be healing and of course healthier. What I mean is that the self-awareness required to allow for this or make provision for it is often lacking. The assumptions being made about investment returns or taxes are frankly small beer when it comes to division of assets and the implications for all.

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 info@solomonsifa.co.uk

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WHEN MONEY TALKS AND WE DON’T2019-08-19T15:26:00+01:00

Fences

Fences

The gritty reality of the harsh life of a black man in 1950s Pittsburgh. The film “Fences” based on the play of the same name by August Wilson (which originally opened on Broadway some 30 years ago) has been gaining a lot of praise. In particular, for the character performances from Denzel Washington (as Troy Maxson) and Viola Davis (as Rose).

This is the story of resentment and how it can become all consuming, impacting every aspect of life. An inability to see alternatives (such as the dreams and hopes of Troy’s son Cory). Perhaps with good reason, this is 1950s America and Troy has had some significant, bad experiences, yet lacks the hope of the civil rights movement of the day, instead fighting a narrative of low expectations and low chance of failure. The fences that Troy constructs are clearly more than physical.

Familiar history

When you engage with your financial planning, we spend time finding out about your history. This will involve your family history too – your upbringing and your family longevity all have a likely impact on your planning.

Expectations and responsibilities

It may be that like Troy, you have family members that require your support, financially, practically or both. If you have parents that are alive, how expectations are managed about the future. Of course, if you have children, your hopes and expectations for them too.

Then there is the more obvious stuff – about your working life history so that we can understand what you have in place through various employers or self-employment. To understand the debts you have and the way that you have managed, or perhaps mis-managed the money that you have earned, borrowed or been given. This all forms part of the background upon which we reflect and gently challenge assumptions about the future. This may even involve some changes in behaviour – which is not always easy to hear and invariably harder to adopt. Unlike Troy, we would not assume that your future will be dictated by your past. However, clearly it is likely to be influenced by it. We work with you, in partnership to help avoid repeating any financial mistakes that you may have made in the past.

Self-imposed fences

All good financial planning faces the occasional barrier. We tend to help ring-fence funds for specific important, known events that have a financial cost. We also take appropriate measures to protect your finances and data. However, the most significant obstacles are those that we all create for ourselves – the fences within our own minds of what is possible and the assertion that the future will merely look a lot like the past. It doesn’t have to, but without challenge and a proper plan, in all honesty, that is a likely outcome and one that we would hope to avoid.

Here is the trailer for Fences. It has been nominated for various Oscars, including Best Picture, Best Actor in a Leading Role (Denzel Washington) and Best Actress in a Supporting Role (Viola Davis).

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 info@solomonsifa.co.uk

Fences2017-02-21T14:39:30+00:00
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