THE BIG ‘FIVE – OH’!

TODAY’S BLOG

THE BIG ‘FIVE – OH’! 

In our last edition of Spotlight (our client magazine), we had a loose theme of ‘milestones’ and some of our wonderful clients wrote about their own personal challenges and celebrations, so I’m sure that some of the content will have resonated with you.

During our planning sessions for the magazine, it was interesting to note that we talked less about ‘when’ and more about ‘what’ our own (and clients’) milestones looked like.

Whilst we make a point of celebrating ‘big’ birthdays and ‘big’ anniversaries, these aren’t necessarily the momentous occasions that mean the most to us.

For many, the milestones are educational, or career-based, or ‘stage of life’ – buying your first home, getting married, having your first child (or grandchild), clearing your mortgage, retiring, receiving care or going into a care home and of course the deaths of important loved ones.

These are the moments in our lives when we often consider all the effort it took to get there and the (often emotional) rollercoaster as we look ahead to our new ‘normal’.

That’s not to say that the traditional milestones aren’t important anymore – as one who is facing the big ‘five-oh’ later on this year, I find myself strangely serene about the aging process.

Ten years ago, the thought of becoming ‘middle-aged’ filled me with dread … but now that I’m comfortably there (!) it doesn’t bother me in the slightest.

As I reflect on my almost 50 years on this planet, I count my blessings often – my family, my health, a roof over my head, a great career. The future looks bright and I’m looking forward to doing more, seeing more and learning more.

My personal milestones are many and varied and I relish the fact that I have so many more to look forward to.

We have an ongoing conundrum here at Solomon’s – whenever we talk about ‘life is short’ there is an immediate contrast that ‘life is long’ too!

We advise clients for many decades (and often look after two or three generations of the same family) and yet through loss and grief, we know that our time here is not guaranteed. So there is always an element to our work of planning for longevity but accounting for brevity.

We cannot plan for every eventuality – our future milestones aren’t guaranteed – but we must surely seek to achieve as many of them as we can while we can.

And when I turn 50, I’ll be sure to celebrate all that I have achieved in my life to this point and embrace hope and expectation for a long and well-lived future.

Debbie Harris
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?

THE BIG ‘FIVE – OH’!2023-12-01T12:12:45+00:00

AIN’T NO MOUNTAIN HIGH ENOUGH

TODAY’S BLOG

AIN’T NO MOUNTAIN HIGH ENOUGH

Following a recent move, I find myself living relatively close to the lovely area of Box Hill, just one of many areas of natural beauty that the Surrey Hills have to offer. Naturally, I decided to climb this vast (in my eyes) hill armed with my new-found affinity for going on walks, borne out of the depths of multiple National lockdowns – I’m sure that many of you will relate.

With some effort (made harder by my choice to climb in a practically vertical fashion up the 275 large steps to the summit instead of one of the rather more gentle inclines available), I made it to the top of the hill. I sampled the magnificent views and treated myself to a coffee – I felt that I’d earned it. I thought that the hard part was done.

Alas, I was wrong. My descent back down the hill was treacherous beyond imagination, leading to more than a few dicey moments and a poignant feeling of regret at my frankly dreadful choice of footwear. I lived to walk another day, though I’m sure that it was touch and go there for a moment!

As many of you already understand, accumulation of wealth is the growing of capital through various different means, most commonly saving and investing. We’ll call this ‘the climb’. This is the process involved in a financial plan that often comes to mind first and without doubt takes hard work, discipline and a detailed plan in order to reach any goals discussed at the outset. You would not be blamed for placing the greatest amount of importance on this stage. But what about decumulation?

In contrast, decumulation of wealth is the direct opposite of accumulation – utilising your capital (sometimes referred to as ‘spending down’) to cater for any one person’s particular needs, most often in retirement. We’ll call this ‘the descent’. This sounds like a wonderful situation to be in, and it is, but there are many potential pitfalls that one could fall into without proper thought and planning. Enter your financial planner. To ensure that you use the assets that you have worked so hard to accumulate over many years in the best, most efficient way possible – in order to allow you to continue to live the life you want to live – for us here at Solomon’s, that is what financial planning is all about.

So it’s important to remember that there are at least two sides to every hill – and any good climber will tell you how important it is to plan for traversing the other side. The descent can require as much consideration as the climb.

Daniel Liddicott
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on our blog which gets updated every week. If you would like to talk to Dominic 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?

AIN’T NO MOUNTAIN HIGH ENOUGH2023-12-01T12:13:08+00:00
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