Sharing is caring, right?

Jemima Thomas
Feb 2023  •  4 min read

Sharing is caring

Netflix recently announced they might just be changing up the game for us folks. If you haven’t already heard, Netflix recently revealed that they will soon be implementing a no sharing password policy. Essentially, by tracking information through IP addresses, device IDs and account activity, Netflix planned to work out which users were logging in from different locations and therefore step in if it believed the account was being used by a non-household member.

The news concerned many of us who perhaps split the monthly bill with other family members or friends who live in different households, students and those who could really do without an added cost during a ‘cost of living’ crisis. Lots of people (myself included) also enjoy streaming Netflix when they travel, which would also no longer be doable.

Unsurprisingly the news did not go down well for many Netflix subscribers and many took to social media to express their outrage and concerns. The backlash forced Netflix to make a statement that the new password policy wouldn’t be coming into play for everyone just yet, and that it is now going to be rolled out this year in Canada, New Zealand, Portugal and Spain.

On the one hand it makes total sense that Netflix may want to cap sharing passwords; they’ve definitely underestimated how many people would do this, and I’m sure although the loss is barely significant in the media world, it’s something they should’ve factored in during their initial launch. However, after seeing the social media hysteria it’s already clear that consumers aren’t afraid to share their opinions, and Netflix has a similar approach by quickly responding to their subscribers.

It’s clear there is real power for the consumer when it comes to making changes (even at large firms like Netflix), which is no different from how we operate (in some ways!) here at Solomon’s. Good or bad, we are always after feedback because we want to continue to ensure we are providing the right service for our clients. We’re very happy to make changes to improve what we do for our clients and how we do it.

So, if you have any feedback for us, please do get in touch, and if you have a Netflix account that perhaps friends or family members use in a different household, beware of change on the horizon.

Sharing is caring, right?2023-12-01T12:12:37+00:00

Money is not a peace of mind, it’s a choice

Jemima Thomas
May 2022  •  5 min read

Money is not peace of mind, it’s a choice

If you are looking for a gritty (anxiety inducing) series to binge, then Ozark on Netflix is for you. The series is about a financial adviser who drags his family from Chicago to the Missouri Ozarks, where he must launder money to appease a drug boss. So basically it’s a show about Solomon’s! (Please note this is very clearly a joke and we are not affiliated to this fictional TV series).

I was very pleased to see how many hits (yes, I stalk this on the regular) my first blog post ‘Slow and Steady’ got a few months ago, and I’m hoping that my youthful (and often under-represented) perspective will be mildly interesting to read again …

Amusing to some I’m sure, but I’ve always used the backdrop of art mediums such as film and TV to understand more about life, and there are a huge amount of personal parallels that resonated with me whilst watching Ozark. For one, the show is filled with financial lessons and quotes that have stuck with me. One of my favourites comes from lead character Marty: “Patience. Frugality. Sacrifice. When you boil it down, what do those three things have in common? Those are choices. Money is not peace of mind. Money is, at its essence that measure of a man’s choices.” For me this completely encompasses why we do what we do here at Solomon’s, and why great financial planning is so important.

Finding a good financial planner is a choice. And I truly believe it’s one of the best and often life-changing decisions you can make. Aside from the obvious differences of what Solomon’s does and what character Marty does (we aren’t laundering money, killing people, or secretly working for drug lords), we are however helping our clients invest their money wisely, something that I have begun to do myself. Perhaps I’m avidly searching for advice more often now both in ‘life’ and when it comes to my own finances, but I am acutely aware of the importance of having a financial plan.

Life isn’t always straightforward and is constantly changing, but some financial lessons are staple and vital in the long-run. Much like what happens to Marty and his family throughout each season, they are constantly having to adapt under severe life or death scenarios, and it’s eye-opening to see (although fictional) what people choose to do to save themselves financially.

Choices are also wrapped up in mistakes – mistakes are wrapped up in choices

Advice isn’t something I take lightly. I used to despise unwarranted advice, especially in my teenage years where I probably had a chip on my shoulder and felt most lost. But as I’m getting older, it’s something I welcome with open arms, and usually ask for. Other people’s mistakes often teach the biggest life lessons, and an open mind allows the space for us to learn from one another.

I get to read and listen to clients’ stories regularly as part of my work on Spotlight (our client magazine), and we often ask ‘’If you could go back and give your 20-year old self advice, what would it be?” and the responses are always helpful and interesting. When people feel comfortable and safe enough to talk about their financial mistakes (or any mistake for that matter), I am reminded that every day is a school day.

Money is not a peace of mind, it’s a choice2023-12-01T12:12:50+00:00

I CARE A LOT

TODAY’S BLOG

I CARE A LOT

Many of us have been under something akin to house arrest over the last year. One of the recent movies that you may have come across on your media platform is “I Care A Lot”. Why am I writing about film again? Well, it’s a pertinent story, here is why…

RESIDENTIAL CARE

Many of us may have to contemplate Residential Care for ourselves or our loved ones. I have very few clients that relish this prospect. Most prefer to stay in their own home for as long as possible, retaining their independence and dignity as they see it. Most people will therefore be likely to only find themselves in care if a life, lived at home is not really possible. The cost of residential care can be significant, the weekly fees can be eye-watering and probably far exceed any weekly that you have achieved in your entire lifetime. Those of you that have faced this already will know this already.

THE LETTER OF THE LAW

The basic plot of the movie “I Care A Lot” sees lawyer Marla Grayson (Rosamund Pike) present the façade of caring for people in this predicament. She is using the law to imprison people in a care facility and then take over managing their assets making a fortune in fees in the process.

She abuses the system, fools the judiciary, bribes the medics, funds the care home managers and manipulates her way to a fortune. The first 30 minutes of the movie had my blood boiling as she serenely executes her targeted imprisonment of Jennifer Peterson, (Dianne Wiest) someone that is clearly able to look after herself and is well resourced. In a courtroom Marla’s arguments are well rehearsed, tried, tested and watertight – they seem reasonable. “You can’t care for someone by doing what they want. You have to do what they need and I can care better than a family member.” We suspect and the court knows that this is sadly often the case. We are left to face the uncomfortable truth that we can see the legal point, even if its wrong.Sadly, this part of the film is alarmingly believable, later elements are not, but I will leave those for you to discover.

SOLOMONS BLOG I CARE A LOT MARLA - ROSAMUND PIKE

TAKING CONTROL

In the UK having Power of Attorney can or should ensure that this sort of abuse of power cannot happen. Whenever the State is permitted to step in, there will always be strings attached and likely little contextual thinking as the State is an institution, designed for box-ticking and box sorting to answer bigger questions of taxation rather than the nuances of individuality.

Having a Will and Power of Attorney drawn up properly and discussed with the people you intend to hold positions of responsibility (Attorney, Executor or Trustee) is a fundamental task of good financial planning for the future.

TRUSTED ADVISERS

We might all want professionals to be trustworthy, but we know that they are simply people and have their own pressures. Money is a sure way to attract the wrong people and illicit the worst responses from them. As also developed in the excellent six-part mini-series “Behind Her Eyes” starring Simona Brown, Eve Hewson and Tom Bateman (also on Netflix).

TAKING INITIATIVE, PLANNING AHEAD

Last week I took on a very bright new client who has given this much thought. Perfectly capable today, but with a clear appreciation that the day may come when that is no longer the case, and perhaps (probably) “I wouldn’t even know”. Your planning should be designed to give you peace of mind, not anxiety. The great difficulty is finding someone in whom you can place a high degree of trust. Following the law does not demonstrate trust, clarifying, documenting and understanding your own expectations is, which is why reviewing and checking progress with you each year is so important. A year ago, few would have considered the challenges that we have faced together. They have presented tests for our values and hopes. Have you kept us up to date with any changes to yours?

For a dramatic way to grab your attention, here are the trailers for the movie and the series mentioned.

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 Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

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 Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

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

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

I CARE A LOT2025-01-21T16:33:30+00:00

BETTER NOT CALL SAUL

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.

Better Call Saul - Netflix

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

GET IN TOUCH

Solomon’s Independent Financial Advisers
The Old Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

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 Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

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

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

BETTER NOT CALL SAUL2025-01-28T10:08:04+00:00

WHAT WOULD YOU GIVE TO GO BACK IN TIME?

TODAY’S BLOG

WHAT WOULD YOU GIVE TO GO BACK IN TIME?

The concept of time is something that we all like to play around with. We recall memories, sometimes embellished, some highly accurate and others somewhat muddled. We encounter the present with our baggage and sense of identity based on the past and have hopes for our future.

To travel through time is what we all do, on a daily basis, yet to time-travel, well that is something for the writers of science fiction. As we all know, there would be some significant advantages to be gained if we could “correct” our own actions and perhaps those of others in the past. The chance to have another, better attempt at anything with the advantage of hindsight is the fuel of regrets and if only…

Time flies, The Old Bakery, Solomons IFA

Do we ever learn?

History is a great teacher, it is in many respects the best way we can apply “hindsight”. Yet we so readily ignore its lessons. Human behaviour has not really altered much over the years. We are having to adapt to new things all the time, but our nature seems slow to learn. The repetitive nature of war, division and “inhumanity” are sadly familiar. We don’t seem to learn.

Long-term thinking

The same is true of investing. We don’t learn very easily. Investing in equities (shares) has been proven time and again to provide the most likely way of increasing wealth above the rate of inflation. Looking at any long-term horizon, when considering the total returns (increase in capital value and income paid out by way of dividends) there is ample evidence to hold the very firm belief that over time, years and decades, equities are the obvious choice.

I can already hear you thinking “but…” and that’s what I have come to appreciate. We are not built for investing. Human nature has been built around the very useful instinct to flee at the sight of threat. This is helpful in a world of beasts and the beastly, but not in the sophisticated world of long-term equity investment. Every sign or signal of “downturn” is met with fear and panic. Pundits and journalists alike are designed to be storytellers, having something to say is better than the alternative. We hear “billions wiped off the market” yet we never hear “billions wiped on the market”. The news is skewed, we thrive on drama. Yet this passes and is arguably a vital aspect of equity markets, which always recover. Always. The crash comes, recovery comes, repeat, but we never seem to learn. Human nature is not our friend when it comes to successful investing. It is utterly inept.

These days the better part of my skill set is employed to remind you not to blow up your own financial plan. Indeed, it is to prevent you from doing so, which means confronting your own worst enemy… you. Some days will be very difficult. A 50% fall in markets is huge, but it will recover, not if, but when. The only measure for success with your financial planning is whether you reach your goals, not those of others. This is your story.

As for time travelling, there is a decent little series on Netflix called “The Umbrella Academy” which has some interesting ideas. Here is the trailer for the series.

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 Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

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 Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

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

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

WHAT WOULD YOU GIVE TO GO BACK IN TIME?2023-12-01T12:17:32+00:00
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