ANOTHER FINE MESS

TODAY’S BLOG

ANOTHER FINE MESS

New movie Stan and Ollie is a real treat to those who have an affection for Laurel and Hardy. What could have been “another fine mess” was a moving tribute to one of the ground-breaking comedy double acts of cinematic history. As a child, in the 1970s I watched their films often on a Saturday morning on the 3-channel television. Whilst the cars were a bit odd and shot in black and white, they didn’t seem particularly dated, at least no more than others – as the television diet for children also included a fair amount of black and white 1950s American syndicated shows like Whirlybirds, Champion the Wonder Horse, Flash Gordon, Zorro and Lassie.

I have to admit I had reservations about the film but Steve Coogan’s performance or perhaps impression of Stan Laurel was fantastic. John C Reilly also provides an impressive performance of Oliver Hardy. The movie itself is charming and shouldn’t disappoint any fans. It reveals a deep friendship between the pair and provides an insight into their working partnership and some of its difficulties. Notably the different manner in which they approached their contracts at work and the way money should be handled.

SOLOMONS IFA - STAN AND OLLIE MOVIE REVIEW FOR BLOG

Wrong end of the contract

Mr Hardy seemed to have something of a gambling habit, it isn’t clear from the story if this was problematic, but it is inferred. What I had not realised was that unlike the movie stars of today, they were employees of Hal Roach. He was a ground-breaking film maker of the day, but also a shrewd businessman. there was no bonus scheme or royalties and if a film failed or succeeded, they were paid the same. Laurel was clearly more financially astute, demanding that his contract be properly revised, Hardy’s contract still had time to run. The contracts were deliberately established this way by Roach, precisely to prevent them from negotiating together. Hardy seems not to have appreciated the implications and also lacked the courage to stand up to Roach, perhaps (I don’t know) because his gambling required the certainty of a regular income, not least to provide for his 3 ex-wives.

Here today, gone tomorrow

Laurel and Hardy movies were shown around the world and Roach made them shoot each in several major European languages. They were coached and read from out-of-sight blackboards, phonetically, all to maximise revenue for Roach. Laurel and Hardy were consequently never financially secure, at least not by today’s Hollywood standards. The movie picks up at the end of their career, when they are mainly forgotten and having to earn a crust. Many are surprised that they are not retired, but this is a case of having to work.

Genius at work?

As much as Laurel and Hardy loved their work and working together, clearly, as a financial planner, the aim is to ensure that you have the choice about whether to work or not. Retirement is a poor word; a better phrase is “financial Freedom Day” – the day you choose to work because you want to rather than have to.

In any partnership, speaking the same language and having shared goals is vital to financial wellbeing. Your financial planning really doesn’t need to be comedic, it is your life’s work so invest in the right counsel with a proper financial planner.

Here is the trailer. I’m confident it will make you smile.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

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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?

Take Survey

PRIVACY POLICY | DATA PROTECTION

When is the right time to retire?

When is the right time to retire? Well, asking Mark Webber who retired from Formula One at the weekend would suggest at only 37. The same weekend, I watched the deeply disturbing yet beautifully written “Philomena” starring Judi Dench, who is turns 79 in a few days time, more than twice Mark Webber’s age. Both are “global stars” and have the raw natural talent for their chosen professions. They are of course completely different, perhaps as different as chalk and cheese, but what is evident is that both have a deep passion and love for their work. Both involve taking risks, Mark’s rather more obviously, but ask any actor a few questions and its pretty evident that the action of “putting yourself in the role” and being on public display is no small feat and requires considerable courage.

How about living the life you love?

So retirement will mean rather different things depending on your chosen career/profession. For some it’s a lifetime choice (I’m thinking of the nuns in the film) for most of us, gradually we reach a point when it simply isn’t possible to continue at the same level, or at all. Those in the world of sport generally have very short careers, though in truth this is perhaps a sweeping generalisation, there are many that become coaches, managers, trainers, pundits or even dancers ….well they appear and occasionally win on Strictly Come Dancing. I’m reminded too of the anniversary of Dr Who (which I didn’t see) but understand that the Timelord himself got rather caught up with himself or himselves. Anyhow, my point being that retiring at 65 or State retirement age, should not be the default option. Why would you permit the economics of the State purse to determine when you stop doing the thing you love? OK I can recognise that for many, sadly, they don’t enjoy their work, but if you can break out of that into a vocation that you love, then why would you not do that for as long as you want?

Questions for financial planning week

This week is financial planning week, which I support. However invariably the majority of questions from the media are always about financial products – when can I retire? Meaning how big does my pension need to be? This is of course an aspect of financial planning, but it rather misses the point. The purpose of financial planning is to figure out what life you want, what the future might look like and how you might change it. Essentially you get to be your own Timelord… you get to decide when you pull into the pits and take the chequered flag. You get to decide what story is written and how you handle the present, past and the future. You are not following anyone else’s script, you are making it up. Financial planning is not about telling you your future, like some sort of fortune teller, but of helping you to decide what you want in it and how it could look. There are choices.

Write your own story

Thank you for reading my blog, may I suggest you have a look at the wonderful film Philomena. It is a story about one woman’s decision not to accept the story of her life as told by others. Judi Dench stars alongside Steve Coogan and both are excellent. Here’s the trailer (below)…. perhaps you will be “one in a million” and be inspired… oh and for the record Steve Coogan wrote the screenplay for Philomena.

Dominic Thomas: Solomons IFA