From Knowing to Doing

March 2024 - From Knowing to Doing

In December, we explored the concept of transforming your intentions into concrete actions, and in January, we emphasized the importance of seizing the moment, or the power of now. Yet, despite this guidance, many individuals remain stagnant, not due to a lack of knowledge or information, but simple action.

How many do you know who harbor desires they've yet to act upon? Whether it's unnecessary spending, living beyond their means, or struggling with unhealthy habits, the inertia persists. Even with the best intentions, many find themselves unable to bridge the gap between knowing and doing.

It's a dilemma we've all faced (and will continue to face): knowing what needs to be done, yet unable to summon the will to take that crucial first step. Indeed, knowledge alone cannot spur us into action; it's our willingness and determination that drive real change.

Is it time to call in some accountability? Our team advocates Purpose Built Planning - crafting goals aligned with your values for a fulfilling journey. It's our secret weapon to turning those well intended thoughts to action, seizing the day, and implementing the knowledge you've gathered throughout your experiences into a first step. Help us, help you by contacting us at (865) 379-8200 or info@lecontewealth.com for more information. 

"I just don't have enough time."

This common lament resonates with many in today's society, where schedules overflow with urgent and important commitments, leaving little room for essential but non-urgent tasks.

In our fast-paced world, time is a precious commodity, and finding ways to reduce stress and worry is crucial. Automation, especially in fianncial management, offers an effective solution. Over the past decade, I have had numerous discussions with friends and family about simplifying their financial responsibilities. While many express concerns about security, it is important to note that automation has been around for over 50 years.

If finding time for important but non-urgent tasks feels like a challenge, automation could be a vital part of you solution.

>Check out more, here

Alex Willard
Client Advisor
LeConte Wealth Management

We recently onboarded a new client that was interested in saving money for his children using an UTMA account. He was familiar with 529 College Savings Plans, but wanted another option for his children to access funds during adulthood if they didn not need the money for college education.

We recommended an UTMA account to help him accomplish his planning goals. But exactly what is an UTMA account and what do those four letters stand for?

>Read more, here

Kevin Painter
Managing Partner
LeConte Wealth Management

Recently Published On Financial Friction

 >Last Minute Tax Planning Strategies

Wes McNeillie, CFP
Tax and Planning Specialist
LeConte Wealth Management

 >Turning Tax Return Challenges into Opportunities

Jon Dockery, CPA

Managing Partner

LeConte Wealth Management

Economy In Focus

The Data: 

• 3 - Fed projects 3 rate cuts
• 0 - No more negative interest rates
• 1.8 Trillion - US Budget Deficit

Commentary:

The geopolitical scene today is like a tightrope walk between cooperation and conflict, with hotspots in Eastern Europe and the Middle East, not to mention the ongoing drama of US-China relations in this election year.

As for investing, we're staying true to our contrarian view, keeping an eye on the horizon for longer-term opportunities. While we've skipped our spring rebalance, we're monitoring closely for any out-of-balance moves in our models.

Meanwhile, the Federal Reserve played it cool in March, holding rates steady but still eyeing three rate cuts this year. Chair Jerome Powell's pledge to curb inflation to 2% sounds noble, but with inflation stubbornly above that mark for a decade, it's like aiming for a soft landing on a rocky runway.

In a strange turn of events, negative interest rates are officially a thing of the past since 2007, with Japan being the final flipper to the positive side.

Speaking of flip-flopping, government spending is in overdrive, contributing a whopping one-third of GDP growth in 2023. With the national debt ballooning to $34.5 trillion, up 47% in just four years, it's a bit like watching a runaway train with no brakes. And consumers aren't far behind, with credit card delinquencies on the rise.

Stay tuned for more on how the upcoming elections might shake things up. In the meantime, buckle up and consider cashing in some gains while you can. It's a wild ride out there!

LeConte In The News

We have no current team news for the month of March.