The Dial of Destiny

Dominic Thomas
Nov 2023 • 2 min read

The dial of destiny

If you haven’t seen already, Indiana Jones is back for a last crusade. The fifth and final chapter in the Professor Jones diary brings us up to date in 1969. I won’t spoil the story for you, (I quite enjoyed it) but it serves as a prompt for our desire to alter history and explore the “what if?”…

The ‘mystical tool’ that we use here isn’t that mystical at all. It’s software, in fact it’s various pieces of software which allow us to plan forwards and make adjustments, whilst learning from history, through the rather more mundane elements of historic rates of returns, inflation, economics and investor behaviour.

The new film uses some amazing software too, making Mr Ford look rather like he did way back in 1981 when Raiders of the Lost Ark was made. Sadly, our software doesn’t make us look younger! I’ve come across some tools which make someone look older and one pension company thought that this would be a good tool to use to help young people think about their retirement, I struggle to believe it would.

As with most stories of this theme or perhaps genre, the ability to change the past is very enticing, particularly if the present is not as you had hoped and you lack optimism about the future. The climate and global leadership crisis may well prompt these types of feelings. How wonderful it would be to go back in time and adjust some things. It’s a very tempting offer, but of course one that is nothing more than wishful thinking. We all live with the consequences of combined actions, our own and those of others. Perhaps this is more about accountability (or the lack of it) than any real notion of changing the past.

Anyway, back to your planning. Together, we can imagine different futures; consider different scenarios for you. That might be retiring earlier than planned, moving home, gifting money, starting a business or selling one – frankly the list is lengthy and limited only by your own expectations and hopes for the future.

However all our planning, irrespective of the state of the world today, hangs on the premise of optimism. The belief that investments will, over time, gain in value, because you are investing in companies that provide goods and services that society, whatever it looks like, wants, needs and requires. Investing is for the optimists, not the pessimists. If you sincerely believe that tomorrow will be worse than today, then investing simply isn’t for you. In that sense investing is like gardening … planting in the hope of tomorrow. We may be mindful of a changing climate and plant differently, but we do so in the hope of tomorrow.

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TODAY’S BLOG

SELLING TRUTH YOU WANT TO HEAR

One of the TV series I enjoy is a spin off from Breaking Bad – Better Call Saul, which you can find on Netflix. In simple terms it is the story of James “Jimmy” McGill who is the younger wayward sibling of two brothers. Regularly in trouble, Jimmy is nothing like his responsible, pedantic brother Charles who is a very successful lawyer. Despite their differences, Jimmy is close to his brother, tending to a peculiar illness which is debilitating.

Jimmy is a low-level conman, who has a talent for spotting a fool and parting him from his money as most confidence tricksters do. His observational skills and self-confidence combined with a malleable relationship with rules are the perfect combination for selling a different version of truth, a lie that people want to believe. It becomes apparent to him that perhaps being a lawyer requires a similar skill set. Most believe that lawyers are crooks with a Degree and Jimmy can smell opportunity.

The numerous series chart his misdemeanours, and these run parallel to the mirroring characters of the drug world. Instead of law firms and partners, read gangs and cartel all pushing the same freedom fix, but with grave penalties for error.

TO WHAT PURPOSE?

The series raises lots of relevant questions – fundamentally what is our purpose? Who is Jimmy? Why is he endowed with the skills he has and how could these be put to more rewarding, purposeful use. We witness him genuinely attempt to do good, to remove or reduce harm, to expose corruption and to protect the vulnerable, yet his efforts are met with the resistance of indifference and judgement that prevents him from straying outside of his box. A societal box that others have placed him in. This is of course particularly timely as we all consider the challenges that face anyone that is genuinely interested in equality, justice and fairness.

It isn’t often that I would encourage you to pay attention to someone that is essentially a corrupt lawyer, but there are many valuable insights to be found. These are as basic as understanding the mechanics of a scam, hiding in plain sight and how to find hidden fees. However we also have to face the reality of understanding depth, capacity, risk and the difference between problems and trouble.

Many of the problems that Jimmy faces are problems that many of us may experience at some point – whether that’s the importance of a Will, care costs, business partnerships, deals and the value of what we provide to others. However at its heart of the story is the strength and weaknesses of relationships – whether that’s between siblings, employers, family or friends. Jimmy is largely making decisions in reaction to those relationships, as are others. Every character has a story but as ever, being able to see the solutions to your own problems is often aided by an impartial other.

One of the lessons I have been reminded of this week, today in fact, is that as a planner, I help provide objectivity and accountability – helping clients keep on track with their stated values and plans for a great life. Jimmy could have had a very different story if someone had shown him how his skills could be applied, if he had received the right support and encouragement. It may not have been as dramatic (and worthy of a TV series) but it would certainly have ensured prosperity in the fullest sense of the word.

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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