Does your financial plan make your heart sing?

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Does your financial plan make your heart sing?

If you grew up in the 70’s or 80’s there’s a new film that might stir a few memories. Sing Street is set in Dublin in the mid-80’s a secondary schoolboy finds his muse and musical inspiration from an imploding family life.

It’s the sort of movie that touches the familiar and a rite of passage that most of us traverse at some point in adolescence. However it is also a reminder to seize the day and not be swayed by the bullies or those that would otherwise wish to determine your course rather than address their inability to see one for themselves.

As an adult, I increasingly find myself staring at someone I barely recognise in the bathroom mirror, yet generally don’t find myself “thinking old”. Indeed almost everyone I meet at some point tells me that they do not think their age. Our own internal projections of self are often a contrast to the external. Of course with age sometimes comes wisdom, but certainly experience – which invariably alters our behaviour and attitudes, we are not who we once were. We have become responsible, whether through choice or necessity.

Sensible and Sensibility?

We know that we need to budget, save and build a pension, all laudable but fairly dull right? Sometimes being an adult isn’t all it’s cracked up to be, to be care-free certainly has its appeal, yet we know that our conformity is inevitably necessary. Financial products smack of everything that is “sensible” (at least the good ones) but they really are very dull and few would really wish to spend long discussing them.

However a good financial planner brings attention to your purpose – beyond simply repaying the mortgage and bills, confronting the question – what is your purpose? And what makes you come alive? For me this is a little reminiscent of adolescence, feeling on the cusp of huge potential. There are plenty willing to tell us what is and what is not possible, but a dream with a plan of action is invariably the difference between indifference and achievement. Sing Street is a triumph. Your financial planning can be too.

Here is the official trailer, you may have to hunt the film out as it isn’t showing in many cinemas (its blockbuster season) but its worth the effort.

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]

Does your financial plan make your heart sing?Dominic2025-01-28T14:35:47+00:00

Our Kind of Traitor

The new film “Our Kind of Traitor” is based on the 22nd novel by John Le Carre of the same name. For those of you that enjoy some espionage, intrigue and have nagging suspicions about who is really protecting who, this is definitely one film for you.

The story is set within the context of a relationship that is undergoing some difficulties and attempting to find a way forward from a break in Morocco. Work interrupts leaving a brief vacuum into which Dima, a glittering, persuasive millionaire steps.

It transpires that Dima is of course somewhat of a figurehead in the Russian mafia, however he is under pressure to surrender his power to someone higher up the food chain. The drama is set with a potential trade of family lives for information.

Money, Sex and Power

As ever Le Carre points to the colour of money and the interchangeable values that it solicits. He questions the lack of questioning posed by the powerful when the sums are significantly enticing enough to look the other way, ask no questions, tell no lies. Le Carre has a regular discussion about the dynamic of money, sex and power. Indeed these are probably the basis for almost every thriller within the genre.

Whilst we may not find ourselves in the same position as Perry and Gail (Ewan McGregor and Naomie Harris) we do find ourselves regularly facing buying and investing decisions, from the apparently minor issues of everyday grocery shopping to how we vote. At a time when the City and those within the financial services are still largely untrusted, this film asks questions about provenance.

Of course, those within the financial services industry can point to a catalogue of incidents where “looking the other way” was detected by the regulator, resulting in considerable yet insufficient fines to truly deter such practice and culture (despite assurances that lessons have been learned). It would seem that the big fish generally do get away with it, whilst any financial adviser failing to do the required checks would face rather harsher punishment. There is little escaping the sense that the rules do not apply equally, something I imagine that Mr Le Carre would say.

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]

Our Kind of TraitorDominic2025-01-28T09:57:06+00:00

The Internal Fight and Behavioural Finance

There has been lots written in recent years about behavioural finance, in a nutshell this seeks to understand the reasons why investors (private and professional) behave the way they do, when invariably this produces very poor results. We all (hopefully) know that when it comes to investing you aim to buy low and sell high, of course this is not easy, particular in a world overloaded with information and noise. The struggle most investors have is essentially with themselves.

Perhaps this tension is reflected in recent films. There is a branch of investment theory that believes in looking for social signs that provide an investment advantage. Some take the hem line of dresses to reflect the direction of shares, the number of goals, the types of films… all essentially on the belief that more general “confidence” or lack of are displayed. Of course most theories hold a modicum of truth to even raise your attention, but as a long-term process, invariably amount to little more than highly spurious claims.

Over-confidence and Bad Behaviour?

Yet investors continue to display habits that are costly, panic and over confidence being two key elements. Investors find it very difficult to be dispassionate about their money, most believing that they are equipped sufficiently with common sense, market information of plain “insight” that provides advantage. The truth is rather different.

If you are persuaded that the big blockbuster movies are any indication of current sentiments, then perhaps the action-hero genre is worth consideration. As opposed to the usual theme of saving the world with the “good guy” we are presented with “Batman versus Superman: Dawn of Justice”, “Deadpool”, “Captain America: Civil War” and “Suicide Squad”. All reflecting concern about the assumptions we make about heroes and those we empower. Indeed also examining the conflict between friends, allies and team-mates when they disagree over the degree of Machiavellian behaviour required – ends justifying the means. Of course the deeper reflection is that we are ourselves each character, at war with ourselves. Something investors would do well to remember in the heat of trouble and why a rational, dispassionate, long-term, evidence based, sustainable investment approach is what we believe will ultimately protect and serve.

I’m hoping to put some posts together about the basics of behavioural finance, but in the meantime if you are struggling to see the enemy within, perhaps a trip to the movies may be helpful. Of course one might make the case that the current political backdrop and decisions being posed to us here in the UK are also reflected in film. We shall see quite how sensationalist, nationalistic and competitive our media become over the summer, an EU referendum, US Presidential campaign and ample national sporting events.

Here’s the trailer for the latest Captain America film “Civil War”. The Marvel franchise is very much alive to the complexity of character.

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 Internal Fight and Behavioural FinanceDominic2025-01-21T15:53:26+00:00

Life Lessons from Victoria in Berlin

As you may have gathered, I’m something of a film fan. In truth, I simply love good stories that give me something to think about and why I am passionate about the arts in general. Perhaps I read too much into a script, but I invariably look for life-lessons – which I believe to be a less expensive way to learn life truths (from others) than constantly blundering my way through. Indeed that’s one of the advantages of seeing a financial planner – we have seen it all before, well… those of us that have the relevant experience. Clients benefit from collective and compounding wisdom, not merely a single interaction.

The German film “Victoria” is a fairly unusual movie for the reason that it is shot in a single continuous “real time” take. This is nothing new as an experience – essentially the same as theatre direction or any live event, however, this is a thriller, high intensity and is a considerable achievement. Whilst set in Berlin, the central character is a Spanish woman (Victoria) played by Laia Costa, and so the dialogue invariably is the shared spoken English of foreigners.

Under Pressure, wrong time, wrong place…

I had seen a trailer beforehand and was concerned that I wouldn’t like the film, thinking it likely to be yet another example of females portrayed as foolish, weak and daft for even speaking to the rather obviously dodgy shady male characters, meekly surrendering any power they have to men that follow the stereotype bully/criminal. I was pleased that I found it rather more nuanced, instead exploring concepts of rejection, allegiance and tribe, not to mention considerable power and self-confidence residing in Victoria.

It is often surprising to see and learn what some people will do for money or power, yet of course we are all prone to such experiences to a greater or lesser degree. Decisions made quickly from a place of vulnerability are often poor ones. This is a thrilling drama where the tension is vice-like in its grip as opposed to more stylised, expensive blockbusters.

There are reminders to parents about the expectations put on their children and how the wrong set of circumstances can quickly alter behaviour, previously unthinkable. It raises questions about how our own neediness is actually being met when we help others yet without any pause for reflection, can lead to a path of self-destruction.

Self-awareness is something that is rarely discussed in finance, even in financial planning circles (those that do it properly) yet it is a fairly vital element of a constructive relationship with your financial planner. Any good financial plan is driven by goals and based on values, but some of those really require considerable unearthing over time. The wrong pressures at the wrong times can have disastrous implications for your financial plan if it is not founded upon your values.

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]

Life Lessons from Victoria in BerlinDominic2025-01-28T14:35:48+00:00

Delusion and Florence Foster Jenkins

How we respond to money is explored in the new film by Stephen Frears “Florence Foster Jenkins”. The film recounts the true story of the wealthy musical benefactor played by Meryl Streep. Sadly she does not possess the singing talent that she so desperately craves, yet a doting and financially dependent husband (Bayfield) played by Hugh Grant, contrives to protect her in a bubble of innocence, a charming modern day PR man. In practice, this protected them both.

The delusion is maintained through some creative and tender manipulation of a largely uniformed social circle, who pass the entrance test of wealth, yet clearly have a lack of knowledge about music. In reality this exposes their own hunger for social standing and are caught by the inability to speak the truth for fear of being outcast. There is no malice in the contrivance, but reminds us again of the impact of crowds and fear of being different, something more like the Emperor’s new clothes.

Collusion in delusion

I was surprised how much I enjoyed the film, it is warm, funny and moving. This, despite essentially being a story about the ultra-rich, living in denial of any form of reality and for whom success is bought. The strong character performances carried the suggestion that denial and delusion are arguably just as important as the truth, a sentiment that Shakespeare frequently conveyed. Perhaps in relationships denial of some realities (we all have flaws) is even a necessity.

I won’t spoil the film for you, do go and see it. As a financial planner, I would draw your attention to the briefcase and the lengths that people go to avoid the harsh confrontation with reality. The Q&A at the BFI last night with Hugh Grant, Stephen Frears and writer Nicholas Martin was also illuminating, ironically employing similar delusionary tactics to protect Florence, the audience and probably the box office. This is of course is the skill in great story-telling, how to edit and reassemble a story that shapes opinion, of course the political interpretation is ever present.

FFJ preview Q&A BFI 2016-05-04

So the question is, what are we in denial about? Some denials are probably healthy and serve our own interests, other – such as the truth about your own finances is rather more vitally exposed, not harshly, but so that reality can bring about a healthy perspective.

If you would like a financial reality check, you now simply need to get in touch – contact details all over the site. Here is the trailer for the new film.

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]

Delusion and Florence Foster JenkinsDominic2025-01-27T16:09:25+00:00

Would that it were so simple

There’s a new film “Hail Caesar” by the Coen brothers. A line which I keep finding myself repeating is spoken by Laurence Lorenz, a character played by Ralph Fiennes. He is trying to coach a stuntman with his acting – repeating the line “would that it were so simple”. It’s a funny scene, which I won’t spoil for you, but it is a phrase that I find appropriate with great regularity.

In a matter of weekends between broadsheets, the Chancellor appears to have done a U-Turn on changes to pensions. Of course had we not had all the speculation, leaks and reactions we would have been “none the wiser” of his apparent “flexibility is a strength”.

The truth is of course that we will not know what is in the Budget on 16th March until, well… 16th March and as they say a week in politics is a long time. The Chancellor is determined to control State spending and this has created a significant amount of ire and assessment in the media – as well as around dining tables in homes throughout the country.

Reshuffling the deck?

Whatever you think of Mr Osborne, as with all Chancellors, pain is delivered as discipline, where possible made to appear as a progressive change. Most of the time, there is little more being done than a reshuffling of the cards, hoping that this time, the hand will be sufficient to take home the equivalent of the jackpot.

The truth is that running the finances for the UK is not an easy task (and I am not attempting to make excuses for him). Tax revenues are based on assumptions about the future, costs are too – but there is inevitably the odd “unforeseen event” such as a plague, war or famine… which in practice aren’t really that unforeseen, because they occur regularly.

Nobody is really going to be pleased much of the time, whatever politicians tell us, we know that they have ambitions based on a concept that 4 years is the long-term, which is, as we all know, full of flaws. Would that it were so simple.

As for Hail Caesar – it is a film for our time about a film about another time, but the eternal golden rule – he that has the gold makes the rules.

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]

Would that it were so simpleDominic2025-01-27T17:02:28+00:00

Don’t Panic! Captain Mainwaring… don’t panic!

Don’t Panic Captain Mainwaring

I find it increasingly difficult to resist the temptation to comment on the world stock markets. The media is constantly moving from positions of fear or greed, buy or sell. This serves their purpose of having something to say and of course becomes something that they then have to continue to say for fear of not providing “the news”. Of course panic is contagious and whenever I see it, I tend to think of Corporal Jones from Dad’s Army – don’t panic Captain Mainwaring.

So what is happening? The price of oil has fallen dramatically. The Chinese economy is not growing as quickly as it was. There is nervousness about the UK leaving the EU, the possibility of a thug winning the US presidential election, perhaps forcing a showdown with anyone with different opinion. Europe has little idea about what to do with thousands fleeing war in Syria or their own ravaged economies offering few prospects of employment. Our own austerity is causing our public services significant stress and of course there is the recurring fears about viruses, war, the environment and terrorism which all play into the narrative of “its bleak”.

Fear and Greed

Shares are part, ownership of businesses. The value of which is based in part on its actual physical assets (premises, stock etc.) and part on future revenue streams (forward orders, based on data from historic orders). There is also the matter of market share, industry sector and general perception of the company. The price of shares is therefore in part objective maths, part subjective opinion.

The problem with sudden shifts in price are invariably linked to a herd mentality – playing inevitably into two camps – fear or greed.

We know this when we invest. It is not new news, but it is certainly hard to live with, particularly when the noise is very loud and the doom-sayers are everywhere.

Any real changes?

If you have genuinely altered your long-term goals and do not wish to invest ever again, you probably should rethink your entire strategy, perhaps investing is not for you. I am being serious.

However if your long term goals remain roughly the same, then the key question is has anything really changed?

Diversification

Your portfolio is split across a variety of asset classes, shares, bonds, cash and commodities. There is a global spread. You have a diversified portfolio. We have established tried and tested evidence based analysis to check that you have the right “mix” of holdings to suit your attitude to risk. To date, whilst the markets have been “disappointing” (understatement) since April 2015, the degree of “shock” is within your tolerance, but it is of course deeply unnerving, very unsatisfying and frustrating.

Time in the market not timing the market

However we are holding to the long-term principles of disciplined investing, which have been proven successful over time. This is simply part of the investment experience, albeit “painful”.

It is very tempting to think that getting out of the market now (or 12 months ago) would provide some solidity. However this is based on the notion of being able to time the market and determine opportune points to get in and out of the market (and which market). This is really therefore a double decision, when to sell and then when to buy again.

Historically, investors (professional and private) get this very wrong. Invariably they panic and sell towards or at the bottom of a market, and then decide to invest again once they are confident in the recovery (which has already happened by the time they get back “in”). This leads to further frustration and doing the exact opposite of what we all know investing is about – sell at the top, buy at the bottom. Selling holdings is the only actual way to make a loss real.

Reserve Levels

Any discussion about your financial plan has involved thinking about an appropriate amount of cash to hold on deposit – your emergency fund. You may have used some of this, you may not. It is there as a buffer, and is designed to mean that you don’t have to take money from investments when they are suffering. Perhaps some adjustments may be prudent, but this is your choice, money should serve you, not the other way around.

I am not pretending that the market turmoil is not scary. This is a normal, understandable reaction to headline news. I know of nobody that likes to lose money. Everyone wants high rewards for low risk. However, unless your circumstances have really changed, if you are at the end of your tether with the concept of “investing”, then stick to the course, taking the life-long perspective.

Pain is part of growth, falls are part of average annual returns, finance is not magic and doesn’t provide any real account of who or what you are.

We remain vigilant, we continue to work in your interests but yes, your funds have reduced in value, but we have no good reason to believe that this will be a permanent status. We do not have a crystal ball and cannot predict the future with certainty, nobody can (despite inferences by others). We are doing our best in an imperfect world. Thankfully, this is 2016 and we are not on rations or at war with the world and whilst not dismissing our troubles (which are very real) perhaps some old school laughter might help.

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]

Don’t Panic! Captain Mainwaring… don’t panic!Dominic2023-12-01T12:19:27+00:00

Should advisers fear being black listed?

There are numerous benefits of social media. One is the ability of peers in any field to discuss topics and share ideas. Sadly this comes with the inevitable double-edged sword of whether to post under your real name or a pseudonym… or “nom de plume”. This I assume is connected to a fear of being black listed.

Of course there’s a lot to disagree about, and it appears that many will take considerable time to vent and click send. Not always a great choice, I’ve been guilty of it myself. There is a general perception, whether explicit or implied that somehow anything critical of those in power will result in some form of retribution. Hence many publish comments under false names for fear of being “black listed”.

Invariably the problem within my own sector is that of fear of the regulator. Of course on the one hand I think this is quite a good thing, advisers ought to be “afraid” of the regulator. That would really mean that they are surely there to keep people on the “straight and narrow”. So I welcome good, strong regulation – it’s in my interests (and yours). The hope is that strong regulation reduces the potential for people to be ripped off.

A critical voice brings change

On occasion, of course some criticism of the regulator is entirely appropriate (after all is anyone or any organisation perfect?). It is this that advisers fear (good ones too). The concern is rather obvious – raising a critical voice may be met with a sudden barrage of requests for information, which can prove time consuming and frankly unnecessary. I take the view that the regulator needs to be held to account and publish under my name. Frankly it is rare that I am critical of them – my main gripe is invariably a difference of approach to the way investors who have suffered scams or mis-selling are compensated following advice from “bad” advisers.

At present, the system is such that “bad” advisers rip off investors. The product, fund, adviser and their PI cover all fail and the remaining “good” advisers pay the compensation. By remaining, I really do mean a diminishing number. At one point there were about 250,000 “financial advisers” today there are about 22,000. Most advisers pass this cost onto their clients. To date, I haven’t despite a 30-day demand for payment increasing by 67% in 2015 on top of a 69% increase in the previous year! Hard to explain and pass on such fee rises in a period of virtually no inflation!

I don’t think I’m being too radical or inflammatory in my industry comments. This isn’t the 1950’s, McCarthyism has not returned (as far as I can tell). On which note, there is a very good new film out called Trumbo – the true story of a man that was blacklisted by some very unsavoury people in Hollywood. Trumbo was forced to write under a pseudonym to allow him to earn a living and he wasn’t ripping anyone off. I’m not so sure that advisers publishing under pseudonyms is really the same thing at all. I wish I had the creative writing skills of Trumbo! I only stand with him in the sense of being free to write or speak without fear of reprisal.

Oh, and you are welcome to check out my industry comments online at places like New Model Adviser, Financial Adviser, Professional Adviser.. but they are pretty dull and aimed at advisers.

Here is the trailer for Trumbo, you may recognise Bryan Cranston (who plays Walter White in Breaking Bad) and Helen Mirren has a small role, but has you piping venom… well it did for me. It has only just been released here in the UK… its one of the few films that I gave 10/10… but of course I may have been influenced by issues raised here!

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]

Should advisers fear being black listed?Dominic2025-01-27T16:38:36+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

Creed: Fighting Talk

Creed: Fighting Talk?

There is a sense in which the new film “Creed” is simply another film about boxing and fighting talk. Given the latter films of the Rocky franchise, anyone could be forgiven for thinking it was likely to be both propaganda for American capitalism and selling a soundtrack for exercise. Yet I wonder if this is a fair reflection.

The movie opens into the harsh world of institutional care for young boys and unfolds with our main character coming to terms (or not) with the death of his mother and then learning that his fatherless existence was due to infidelity and untimely death. His lucky break comes in the form of adoption by the woman originally jilted. The unnerving reality is that despite being afforded acceptance, financial security and a surname with punch, there is a gnawing sense that he simply doesn’t “fit”. He turns to the most compelling and certain traits of his makeup – that of rage and a desperate search for purpose.

Now perhaps I’m reading too much into things, but despite appearances, the Rocky franchise has always exposed an uncomfortable relationship with wealth and how it changes lives and relationships, invariably not for the better.

Shadow Boxing

As we all know, America has all manner of racial problems, perhaps there is more than a passing nod to the two areas of life where black Americans are “allowed” to flourish – sport and music, where fame and riches catapult often humble backgrounds into the limelight of the elite. In the film, the protagonist, Adonis meets several sparring partners, but Bianca is the one that offers the prospect of a real connection and possibility of going the distance.

Growth through loss

Our story touches on the loss of loved ones and the continued search for significance, the battles that many face, irrespective of wealth, physical or mental ability. These are of course issues that face us all as we age (even Rocky) and like him we have greater exposure to the limitations that money can supply, but perhaps more costly is the sense of lost purpose, which can make us spectators of our own lives. Rocky rekindles his by reconnecting with the younger man within and without, a mentor, a trainer.

Like every prizefighter, we all come to a point of realization where money cannot buy peace of mind… something that the American dream and capitalism conveniently ignore. That is not to suggest that money cannot help – of course it can, but as we witness all too often, an identity crisis is not solved by cash.

In your corner

Some think a financial adviser is going to work magic, providing enormous payoff without significant effort. I see it rather differently, my role as a financial planner is more akin to the trainer, encouraging, helping to keep you on track, focused and with a strategy for the success you are seeking.

Our fight is more like shadow boxing, where our greatest opponent is ourselves. Our own minds and bodies can turn against us, something that becomes a more relevant nagging reality with each passing year….. So however many we have left ahead, we ought to make the most of this one; a theme that I seem to be returning to with regularity.

Ultimately, we are not remembered for our incomes or our assets, but how we spent our time, how we lived our lives. This is the fight that I am interested in, how we figure out what is indeed enough given an uncertain future and a history of mixed experience…. So I guess, this may come down to our own creed.

Here’s the trailer for Creed, which has a supporting actor OSCAR nomination for Sylvester Stallone. For some, this will be just another Stallone boxing movie, but may I suggest that perhaps it punches considerably above its weight.

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]

Creed: Fighting TalkDominic2025-01-28T14:35:48+00:00