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

New year, new me and all that2023-12-01T12:12:39+00:00

HOW MUCH FOR A HAPPY RETIREMENT?

TODAY’S BLOG

HOW MUCH FOR A HAPPY RETIREMENT?

Doubtless your will have heard of Which? Magazine. They conducted a survey recently in an attempt to understand how much is really enough for people to have a comfortable retirement. They concluded that a two-person household needs an average annual income of £26,000 for a comfortable retirement.

However you have coped with the pandemic, many people have not been able to spend money in the way they normally would. Many have saved the sums that would have been spent on holidays, travel, commuting, work clothes, weekday lunches, meals out and so on. This has given many of us the opportunity to pause for thought and reflect on how much we spend and the lifestyles we lead.

Some people have elected to retire earlier than they had planned, some have had this forced upon them. In practice, the warning signs for higher unemployment have been around for some time. We shall all begin to see the reality of things once the lockdown ends properly and the furlough system comes to an end. I do not see this going well. I implied, no… I stated that the Budget in March worked on the assumption of unemployment rising by 500,000 over the next 2 years with the largest increase in the current 2021/22 tax year.

A BREAD & BUTTER LIFESTYLE

£26,000 OR £19,000

Anyway, many have been giving thought to how much income they are likely to need when they stop earning. In February, Which? asked around 7,000 retirees about their spending.

The findings can be used as a guide to how much people are likely to spend and how much they might need to save, factoring in the state pension and tax bills. Couples need a pot of around £155,000 alongside their state pension to produce the annual income for a comfortable retirement of £26,000 via pension drawdown – or just over £265,000 through a joint-life annuity. Two-person households would need around £442,000 in a drawdown plan to fund the luxury retirement target (£41,000 per year) – or £589,000 if they’ve taken the full 25% tax-free lump sum available at the outset. If you opt for the guaranteed income provided by a joint-life annuity, you’ll require an initial fund of around £757,000.

For single-person households, achieving a comfortable retirement would mean a pot of around £192,290 alongside the state pension to get to an annual income of £19,000 via pension drawdown, or £305,710 through an annuity. For a retirement at the ‘essential’ level, single-person households would need £77,350 in a pension drawdown or £123,365 to buy an annuity plan to meet an annual target income of £13,000. A couple receiving the current average amount of £155 each per week will get just over £16,000 a year to add to private pensions. Pension drawdown figures are based on the savers withdrawing all of their income over 20 years from the age of 65, with investment growth of 3%, inflation at 1% and charges levied at 0.75%.

TWADDLE – THAT THING ABOUT ASSUMPTIONS

So let me respond by clearly saying “twaddle!” but it’s a helpful guide.That is all it is, there are huge holes in the assumptions and thinking, for starters, assuming a 2 decade retirement. Life rarely happens so “neatly”.

Over the years our processes have evolved with the technology that is available. We stress test your financial plan each week. Considering the likelihood of your life expectancy to the tenth percentile… which means the 1 in 10 chance you live a really long time. We consider sustainable income levels that fluctuate with inflation and changing investment returns based upon historical facts rather than regulatory unicorn utopias.

In any event, why would you care about a survey where your lifestyle is dictated? Surely your financial plan should be about protecting and ensuring that your current lifestyle endures as long as you do…. Or do you want less?

That’s why it is important, no – why its vital to have your own plan, based on sensible assumptions that we review together. Unless you have some mind-blowing news for me, you get one life and the clock is ticking. So have your own plan, know what you want and check with us that you are on track.

Need help? Know someone that does? get in touch... share the truth. It won’t hurt.

Its Your Lifestyle: how much is enough?

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

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?

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?

HOW MUCH FOR A HAPPY RETIREMENT?2023-12-01T12:13:06+00:00

Financial Planning in a Box

Financial Planning in a Box

It is easy to believe that the world is an unsafe place, full of people determined to do us harm or ill. We all know about the continuing extremism and acts of terror, but are increasingly aware that the answers provided by world leaders seem misguided at “best” and “just as bad” at worst. Politics is one way we tend to divide ourselves into camps of allegiance, yet this is simply one of many ways to put each other into a box, indeed perhaps your understanding of financial planning is in a box – or a certain type of box. Perhaps we could remember more about what we share alike than what differentiates us.

Tick Box Approach

Marketing is perhaps the ultimate tool for putting us all into a specific box and if this is done to identify who might benefit from a product or service, then there’s nothing that I can see that’s wrong with it. We might exclude ourselves or be excluded for good reason, the problems come when we are excluded without any valid reason. It ought to be win-win if I am excluded from the mailing list of skydiving weekly – I have no interest in skydiving and cannot believe that this would change. Those marketing skydiving courses or related products are not wasting their resources attempting to offer me great deals. That’s a win-win as far as I can tell.

Outside the Box… or how about a different box?

So, I was challenged and encouraged by a TV advert “All That We Share” from Denmark (and no I’m not on their mailing list either!). A friend shared it and it is a great reminder that the boxes we put each other in can vary enormously, yet the media (not all) and politicians (not all) seem intent on placing us into more limited, confrontational boxes. Its title might have a message for those of us that use social media too – what we share, how and to whom. Anyway, have a look for yourself.

The financial planning angle…

What has this to do with financial planning? Well very little – except to say that your financial plan should be about your life, your values and your future, not the things you think advisers want to hear (a yacht, fast car, enormous house and huge portfolio). These might have a place in your financial plan, but until we meet to discuss it, I’d rather assume nothing and wait to hear your story.

The right fit

So, when it comes to our own marketing, we are looking for people that we can help. That means – helping to improve, organise and structure what you have better, so that it works for you, saving you time, reducing anxiety and bringing about a sense of “peace of mind”. Obviously, we need paying, which means you need to have resources to do so, but its more than that – it’s also for people that are looking for a long-term professional relationship from which we can work on your plan together.

Anyhow, here is the video.

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

Financial Planning in a Box2023-12-01T12:18:51+00:00

Pensions: Lifetime Allowance and Mad Max

Solomons-financial-advisor-wimbledon-bloggerPensions: Lifetime Allowance and Mad Max

You have probably heard of Mad Max – its latest incarnation is currently in UK cinemas. You may have heard about the Lifetime Allowance – which has been part of the pension vocabulary since 2006 or “A-Day”. Suffice to say that I believe that the Lifetime Allowance is rather mad.

In the event that you are a politician and reading this, may I ask why you think pensions are important? To my mind, pensions should be encouraged. The end result of a pension should be that people living in the UK are able to provide for themselves above the State Pension, so support their lifestyle. This has several obvious benefits – creating financially independent adults, not requiring State support. Having income means that income tax can be levied and collected to help pay for our society. Let’s also not forget that income is there for using (spending) which enables trade to occur and wealth to be created and so on.

A World of Plenty?

It would seem that politicians generally think not having a rising burden on the State is a good thing. Indeed encouraging pensions with tax relief is the “sweetener” or “bait”. Much like the film Mad Max, we probably don’t want to create a society reliant upon the occassional benevolence of the prevailing “Lord”. Surely we would like a society where all prosper? OK we know the UK has limited resources, so adjust the tax relief, but don’t make it hard or even pointless to save. Even the current regime isn’t tempting enough for millions of people that don’t or cannot save for their future.

Mad Max

Scarcity

At present pension contributions are restricted, which seems fair enough, but the amount that the pension pot grows to is also restricted by the Lifetime Allowance. This is currently £1.25million, which sounds like a reasonable sum, but in practice isn’t as much as you’d like to think, given that it has to last for the remainder of your life. The Lifetime Allowance has already reduced over the years from £1.8m and if the Chancellor does what he suggested he would in the last Budget, it is likely to shrink to £1.0m next April. In other words £250,000 of the Lifetime Allowance will be lost – or more accurately invoke a tax penalty of £137,500.

Mad Max and Excess Tax

If the Lifetime Allowance is exceeded, there is a tax charge of 55% on the excess. OK there are some ways that you can protect your higher pre-legislation allowance, but these are designed by bureacrats and “problematic” to say the least. Essentially this excess tax charge punishes those that save or get good investment results….  let’s not forget that the income from pensions is subject to income tax anyway. So I fail to understand why we don’t simply abolish the Lifetime Allowance and all the protections that have surrounded it. Your pension fund should be just that – a pot that you can actually use with confidence.

Mad Max – Fury Road is currently in UK cinemas, starring Charlize Theron, Tom Hardy and Nicholas Hoult. The Chancellor, George Osborne has his next Budget on 8th July 2015…

Dominic Thomas

Pensions: Lifetime Allowance and Mad Max2023-12-01T12:40:10+00:00

Financial Planning: Right notes, right time?

Solomons-financial-advisor-wimbledon-bloggerRight notes, right time?high-society-movie-poster-1956

Do you want to live the high life? It may seem like a daft question, particularly from a financial planner, but perhaps it is worth pondering a little longer. Most people’s instinctive reaction is to have more, not less. However in Britain we have an uneasy relationship with wealth. On the one hand we often celebrate the underdog and their success, yet quickly turn to mock error and flaw. I’m generalising of course and not speaking for everyone, perhaps anyone…(other than the British media) but I think that there is a phenomena within British media that quickly moves from praise to envy to criticism.

Any assessment of those that have significant fame and fortune will quickly reveal some common threads – feelings of isolation, mistrust and increased anxiety. The greater the wealth, the higher the gates. This isn’t particularly unique to Britain, as the story itself reveals.

We now have a new Government, which about 1 in 3 people voted for. I have clients with a wide range of views and am not about to make the mistake of upsetting anyone (I hope). We live in a democracy, an imperfect one, but a democracy never-the-less. It is tempting to reduce political ideology to a few descriptive words or even a single word. Compassion is one that has been mentioned of late.

High Society – Precise Timinghigh-society-old-vic

So it is timely that an old musical returns to London at The Old Vic – High Society.  You will recall the lead character (Tracy Lord) played in the 1956 film by Grace Kelly, is about to marry a man she doesn’t really love, she lost her true love (Dexter) and previous husband to alcoholism. Now reformed, he returns on the eve of his ex-wife’s marriage and we witness the warm charms, joys and dysfuntion of the Lord family and its desire to protect its own reputation (understandably) from the prying eyes of Mike Connor and Liz Imbrie who are reluctant undercover reporters caught in jobs to earn a living rather than following their passions of writing and photography. One might say that a lack of passion is the missing ingredient that all seek to fill through other means, yet it is a lack of compassion that prevents understanding one another, or indeed self. A sobering thought and one posed to Tracy.

Timed to Perfection?

The revised musical now resides at The Old Vic. Tickets are hard to come by which merely confirms the experience of some memorable melodies from Cole Porter and some very energetic, amazingly precise choreography and direction under the eye of Maria Friedman. The theatre is now in the round and Tom Pye makes quite brilliant use of a very small space with an impressive set. There are some remarkable performances, notably from Barbara Flynn, newcomer Ellie Bamber, Jamie Parker and Annabel Scholey.  It is difficult for anyone to follow roles established by Frank Sinatra, Bing Crosby (Rupert Young) and Grace Kelly (Kate Fleetwood) which I imagine is an unenviable task for actors. Watch out too for Joe Stilgoe, clearly a “chip off the old block” in a role that will remind audiences of the great Richard Stilgoe, his father.

Time to Dazzle and Reflect

The show runs until 22nd August and watch out for a couple of dates, when audience are being encouraged to dress up appropriately (wedding attire I assume  – though hats aren’t great in an auditorium). Being “in the round”, this enables some of the audience to be pretty “up close and personal” at the stage edge and whilst you may find yourself singing along to “Who wants to be a Millionaire” and “You’re Sensational” enjoying a thorougly entertaining evening,  perhaps deeper reflections on the trappings of wealth without compassion may begin to stir.

Dominic

Financial Planning: Right notes, right time?2023-12-01T12:40:09+00:00

Financial Planning: Should I do my own financial plan?

Solomons-financial-advisor-wimbledon-blogger

Should I do my own financial plan?

You are good at what you do for a living. You are successful by most standards and are keen to keep developing your own skills and capabilities so that you can drive your business or professionalism forward. You know your way around a spreadsheet and understand what a balance sheet is, in fact when it comes to the daily management accounts, you have got it licked. So its not unreasonable to assume that you can handle your own financial planning. After all, why spend money to get a financial planner to tell you what you already know?

Admittedly, this isn’t something I hear a lot, but that doesn’t mean that it isn’t being thought or said by those that don’t make a bee-line for my front door. Most people are capable of learning to do their own financial planning, in the same way that most people could learn to be their own physician. Most of the time we are perfectly able to self-diagnose and take over-the-counter medicine for minor ailments without need to bother the GP. However there are moments when we should seek qualified advice and sometimes that will result in being referred to a specialist. Financial planning is no different.

Most people are perfectly able to manage their day-to-day budget and build some savings. Many are quite comfortable with completing tax returns for the straight-forward stuff. However a financial plan is not about the ordinary day-to-day “stuff” it is about helping you get what you want from your life by assessing what you have, what you need to have and helping you get there as efficiently and effectively as possible.  There are lots of moving parts to a financial plan and some come and go, depending on the legislation and rules of the day. We aren’t talking about a simple goal “I want £200,000 by the end of 2025” but a complex interaction between your values and reality.

In sport, even the top sportsmen and women have a coach. What does this tell us? that there is always room for improvement? a problem shared? someone to motivate? provide discipline? the list is probably fairly lengthy – but having a supportive “partner” critique and help improve is how I approach this. Because “money” is something we all handle, (for many of our clients at a very “high level”) we can often think that financial planning must be easy… a bit like painting by numbers. Select your own financial products that appear to be the right ones, pick the top performing or top selling funds and you’re done right?

I genuinely believe that most people are capable of doing their own financial planning, but with the caveat that they need to put in the hours of study acquiring the skills and knowledge required – like anything else. However even with these skills and knowledge, one vital ingredient is also required – experience. Take the example of being a surgeon – knowledge is one thing, but on-the-job experience is vital and indeed if you were having surgery, you’d want someone that did this pretty much all day, each day, each week, not someone that does the occassional surgery. Things that are important, that matter, need an expert hand.

mosaic

Above is an image of some restoration work (on the right) carried out on an ancient mosaic (the left image is the original) held by the Hatay Archeological Museum in Turkey. This recently became widely reported in the media due to the obvious flaws in the “restoration”. Unfortunately, those doing the restoration are blaming others. The question for you – is it good enough?

Dominic

Financial Planning: Should I do my own financial plan?2023-12-01T12:40:09+00:00

Is It All About Money?

Solomons-financial-advisor-wimbledon-blogger

Is It All About Money?

I came across this short video which I’d like to share. It isn’t very complimentary to those within the financial services industry (which includes me). So why share it? well…. because I agree with a lot of what is being said. I have met hundreds, perhaps thousands of people all with different financial concerns. Twenty years ago I wouldn’t have trusted most people that held themselves out as financial advisers, today in 2015 there are still quite a few bad apples, but most of the people I meet are genuinely trying to help their clients… sure, like me they are also trying to run a profitable business and it seems to me that profit is a word that needs reclaiming here in the UK – without it, you dont get to play again next year.Cinderella

The American dream suggests that you can have it all, you simply need the discipline to get there. This is true for some, but certainly not for all – and yes I am aware that there will always be exceptions… the classic Cinderella story of rags to riches. However most people aren’t interested in making a fortune, what they tend to want is the ablity to maintain their lifestyle, have options to travel and to bring up their children (if they have any) in a healthy, safe and encouraging environment. Only this weekend I had an email from someone saying that they don’t care about money… most people don’t. What they care about is their life. Money simply provides choices, it doesn’t provide guarantees and can offer some security but most of this is illusion. Don’t believe me? imagine an invading alien army (I know -daft  right!) landing in London… the value of your home, size of your bank balance or ISA is suddenly rather irrelevant. Yes, I know its unlikely… I’m merely making a point.

Financial planning is not really about money. Thats why I don’t have tabs on the website telling you about all the products we “sell”. However I will admit that sometimes I think it would be a better marketing strategy, as that is what people actually look for, not financial plans. Financial planning is about you. Your life plan. As the financial planner, my job is to ask decent questions and explore the answers (or range of answers) together. I am meant to represent your interests, helping you to make better decisions and trying to ensure that your money doesn’t run out before you do.

For the record, we are further ahead in this regard than those in the US – and I for one am grateful for our NHS and not having US healthcare costs. If you follow me, then you’ll know that since formation in 1999 we have charged fees for advice rather than commissions. Our clients know what they pay us. Fiduciary is absolutely the right term. Anyway, here is the video:

Any questions? please share. If the video doesn’t work try this link: https://youtu.be/b-Ad4JIfao4

Dominic Thomas

Is It All About Money?2023-12-01T12:40:02+00:00

Pension Freedoms and a Lamborghini

Solomons-financial-advisor-wimbledon-blogger

Pension Freedoms and  a Lamborghini

I’m sure you will have come across newspaper reports that some people are concerned that the new pension freedoms, (which come into effect from 6th April 2015) are likely to mean that some people make some daft decisions about their pension pot. You have probably heard that some may go a little mad and buy a Lamborghini.

This is an issue that I have talked about with clients recently, not because they were thinking of buying a Lamborghini, but I simply wanted to explain what the nw pension rules really mean. Admittedly as I don’t own a Lamborghini I’m not that familar with their prices. I’m not an avid Top Gear fan, though I do like Grand Prix. So just by way of a guide, perhaps you may like to know the reality of using a pension to buy a Lamborghini.

Dream Car? Aventador LP 700-4lamborghini

Making the wild assumption that you would want  a brand new car, the cheapest model I can find available in the UK is the Aventador LP 700-4 which starts at £260,040 (I love the £40!). I’m sure the reduction in petrol prices will help, but I imagine that this is a car that with a top speed of 217mph  and a combined urban/extra urban fuel consumption of 16 miles per gallon is also going to be expensive to run, let alone service.

On the Road Price

Assuming that this is an “on-the-road” price you need to write a cheque for £260,040 to the dealer from your pension. As of today a pension isn’t a bank account and does not come with a cheque book. But from April 6th you will be able take all of the money out (if you are 55 or older). The new rules allow you to take all your money out should you wish to – you don’t have to buy an annuity. However the original rules still apply, in that you can take 25% of the fund as tax free cash, the balance is deemed as income and taxed at your marginal rate of income tax (as it would be if it were an annuity). So, to buy the Aventador LP700-4 you need to pay £260,040, there are two ways that you could now achieve this.

1. Use the tax free cash – you could have a pension pot worth £1,040,160 and be able to take out 25% as tax free cash (£260,040).

2. Use the entire pension pot.You need a pension of tax free or have a pension pot worth at least £393,000. This would mean that you could take £98,250 as tax free cash and £294,750 as income (but suffer 45% income tax) leaving a net income of £162,112.50 and so have £260,362.50 to hand over the the Lamborghini dealer. Ok not all your income will be taxed at 45% – just the income over £150,000.. but most will be taxed at at least 40%, some at 20%, you would forfeit your personal allowance and in so doing pay an effective rate of tax of 60% on part of the income.

Too Fast, Too Furious… for mosttoo fast

It would take someone with either considerable additional resources, or perhaps a very short life expectancy to decide to buy the car with their pension… essentially costing £393,000 rather than £260,040. It may surprise you and probably alarm you to learn that the average pension pot “at retirement” is about £30,000, so for most people, they are more likely to be able to buy a model Lamborghini car which will cost between £6 and £3,654 (according to the site) or perhaps you fancy a T-shirt starting at £43.

Given that your pension, in combination with your other resources is meant to last for the rest of your life, the key is to ensure that it doesn’t run out before you do. This is precisely what we do for our clients, figure out what income you need to support your lifestyle, how much is needed, what returns required and making some assumptions (which we review together) about inflation (currently 0% here in the UK) and life expectancy. When it comes to avoiding living on the street, you really dont want a pension withdrawal strategy that is too fast and too furious.

Dominic Thomas

Pension Freedoms and a Lamborghini2023-12-01T12:40:00+00:00

Charlie Hebdo & Uncomfortable Freedoms

Solomons-financial-advisor-guest-blogger-SB2

Charlie Hebdo & Uncomfortable Freedoms

As I listened to the news of the murders at Charlie Hebdo I cried. Battling with writers block at the time I was forced to confront the very free and ephemeral nature of my struggle and that my fear was solely for my own lack of productivity rather than persecution for the outcome of my labour. Anyone who puts their creativity ‘out there’ from blogging to fine art runs the risk of ridicule or dislike alongside the possibility of appreciation. Tracey Emins 1998 ‘My bed’ seems to evoke particular vitriol. Perhaps the gamut of responses is to be more expected in the world of social media where anonymity can afford  for speedy and unconstricted ideas to find a mass audience in seconds, but to once again know that people had in the 21st century lost their lives for expressing themselves, their politics, art and ideas was a confronting reality. As a therapist who writes it was particularly poignant to hear that one of those who lost their life was the psychoanalyst and columnist Elsa Cayatbanksy_-_je_suis_charlie

As someone with strong connections to North Africa I am aware of the polarisation that is often underlined in moments like this, and the inevitable backlash against Islam from those who fail to see the actions of extremists as distinct and non-representative. We can only hope that the long-term legacy of this tragedy can be a reassertion of freedom not reductionist constraint.

In extremis and trauma the casualty is always the capacity to think, to play and explore. The brittle and defensive often compels us to more primitive ways of being; survival, fight, flight, or freeze. In the words of Malala Yousafzai to the UN General Assembly in 2013 “We realise the importance of light when we see darkness. We realise the importance of our voice when we are silenced”. Her response to a regime that sought to exterminate her both as individual and symbol tells us that it is precisely in these moments of oppression and terror that we need freedom of speech, art and creativity, something of ambiguity that leaves us with questions and a sense of not knowing. This is the opposite of traumatic shock. In our transaction with art and literature we are free to choose to look and engage or look away. Around the world there are those losing their lives for that which many of us take for granted. I hope that we can honour their courage by fighting to maintain the place for equality of expression and difference in the written, spoken and visual, even if it makes us uncomfortable.

Sarah Benamer

Charlie Hebdo & Uncomfortable Freedoms2023-12-01T12:39:50+00:00

Money and Power

Solomons-financial-advisor-wimbledon-blogger

Money and Power

Perhaps my age is showing, but it is only day 6 of the new year and I am already fed up with the election campaign. I ought to be celebrating our democracy and the opportunity to hear reasoned arguments, however inevitably we seem stuck in a cycle of who will tax or cut most, the prospect of genuine change and improvement for all seems rather unlikely with the inevitable tension around money and power. Here Lies Love NT

In a more reflective moment, I remind myself that this is not a dictatorship and we at least get to vote and I don’t really think we are at the mercy of a despot who has anger issues and a twitching finger poised over an end-all button. This isn’t the case for millions of “voters” around the world who are marched off to vote for egomaniacs. This in mind, a relatively new musical to arrive via New York at the National Theatre “Here Lies Love” is based on a 2010 concept album of the same name, which gives musicals a nightclub injection. If you think that a nightclub is exclusively for the “young” perhaps think agains as, the creators Fatboy Slim (Norman Cook) is 51 and David Byrne is 62. The production has the flavour of community theatre, with the execution of high-end night club. A moving stage and audience, all combine to great effect and an entertaining, immersive experience.

Imelda Marcos

This is the story of Imelda Marcos, her rise and fall from power. Byrne and Cook wanted to explore what makes powerful people behave the way they do. I’m not so sure that this was explored terribly well, whilst displaying a delusional, drugged up Imelda, she isn’t portrayed that badly – a little bit too vanilla in Manilla – little about her excessive flamboyancy and penchant for hundreds of shoes. The story is chronological, revealing the fragility of her marriage, her inability to cope with her rags to riches story and a familar narcissism of Heads of State that seem to believe that they “give their all to their people”.

The Price of Democracy

There was little in the musical that gave me reason to believe such behaviour was understood or how to spot it in others and take precautionary action…so no tips for our elections. The world seems to have done little during the period of martial law and  assassination of the opposition including the shooting of Benigno Aquino on the steps of his ill-advised return flight to Manilla on 21 August 1983 (age 50) which you may remember. In the Philippines, the Marcos regime was eventually cast out by a peaceful protest, following a corrupt election (February 1986) against Aquino’s widow following which the public simply decided enough was enough. Marcos and his family took US advice and support then fled to Hawaii along with 24 suitcases of gold bullion and jewellery. Sadly for Imelda this took precedent over her 2,700 pairs of shoes. It is estimated that Marcos stole over $10billion from the country, much was invested into various family related businesses and Swiss accounts. The Swiss have so far returned about $684 million. So for me, this musical, whilst being entertaining does little to understand how and why power corrupts so absolutely. Indeed one might argue that the catchy tunes, flashing lights distract from the real story… but then, perhaps that’s the point.

Dominic Thomas

Money and Power2023-12-01T12:39:50+00:00
Go to Top