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Measure Your Personal Success

Measure Your Personal Success

 

July 2024 - Measure Your Personal Success

Compound Your Small Wins

Have you ever found yourself in a complacent mindset? Do you have a framework to recognize this mindset in yourself? How do you personally find your way out of this way of thinking?


Celebrating small wins can be a game-changer on your journey to achieving bigger goals. It's easy to overlook the impact of minor victories and decisions, but they play a crucial role in your overall success.


Take, for example, the recent triumph of the US men's gymnastics team, who secured the bronze medal in the Team All-Around competition after a 16-year hiatus from the podium. Stephen Nedoroscik's journey to becoming an Olympic bronze medalist is a compelling story of focus, perseverance, and overcoming challenges.


As a young gymnast, Stephen faced numerous setbacks and struggled with a complacent mindset, where sticking to familiar routines felt comfortable but hindered his growth. However, he stayed committed to his passion and focused on small wins, like mastering new techniques and refining his form. These incremental victories gradually built his confidence and skills.


A pivotal moment in Stephen's career was his decision to specialize in the pommel horse, recognizing it as his strongest event. This choice allowed him to concentrate all his efforts and training on excelling in this apparatus, honing his technique and artistry to an elite level. By narrowing his focus, Stephen pushed his boundaries and achieved a level of mastery that set him apart from his competitors.


His dedication and specialization paid off on the international stage, where he not only excelled individually but also contributed significantly to Team USA's success. At the Olympics, his exceptional performance on the pommel horse helped propel the team to a bronze medal finish. His story serves as an inspiration to everyone, demonstrating the importance of finding your niche and compounding small wins.

 

Is it time for you to have a mindset shift?


Whether it is getting back to the basics or diving into more technical areas, our team can help you stay consistent by giving you a roadmap to stack your small wins into achieving something much larger. We advocate for Purpose Built Planning - crafting goals aligned with your values for a fulfilling journey. It is our secret weapon to transcend your limiting beliefs and achieve your financial dreams. Let us assist in transforming your tomorrow, starting today. Contact us at (865) 379-8200 or reach out at [email protected] for more information.


 

Your Investments Aren't Always Your Top Priority

The world is a loud place, especially with markets "reaching new highs, and interest rate cuts seem imminent." July has been nothing short of interesting in U.S. politics, which may be challenging the soundtracks being played in your mind.

 

How do you turn down the noise?

 

How do you find contentment while avoiding complacency?

 

> Read more here for a few suggestions

Hoy Grimm
Managing Partner
LeConte Wealth Management


The Cost of Customer Service

Are you an honorary, unpaid staff member?

 

According to a Thinkadvisor.come article titled, "Vanguard Warns Clients to Hang Up and Log In, Or Else," the company's new policies outline customer expectations, costs, and consequences for noncompliance. Essentially, Vanguard is considering a phone call noncompliance.

 

While these changes may appeal to some "do-it-yourself" customers, many people still value the expertise and personal touch that a dedicated financial advisor provides over automated interactions.

 

> Read more here

Jon Docker, CPA
Managing Partner
LeConte Wealth Management


A Piece of the Pie

As a kid growing up, many parents attempt to limit the amount of pieces of pie you eat, but mine put the pieces out on the table and showed me how to pick the best piece.

 

Insurance premiums, just like most everything else (except Arizona tea), have skyrocketed. It's important to be an informed and proactive consumer - although tedious at times. Dedicating a little time each month to review a "piece of the pie" can save you a decent sum of money.

 

If you would like to read the story on how my parents taught me to pick the best "piece," continue here.

Alex Willard, EA
Client Advisor
LeConte Wealth Management


Recently Published On Financial Friction

 > Declaring Independence

 

Alex Willard, EA
Client Advisor
LeConte Wealth Management


Economy In Focus

The Data: 

  • 9.3 - months supply of houses for sale
  • 3 - CPI lowest level since March 2021
  • 2.7 - difference between small-caps and large caps at market close on July 11th

Commentary:

As we move into the second half of 2024, economic indicators present a complex and evolving picture. Former New York Fed President Bill Dudley has remarked that "the facts have changed," advocating for rate cuts in response to shifting economic conditions and a possible easing of previous inflationary pressures. The U.S. economy, which had been buoyed by strong fiscal measures and investment initiatives, now faces several challenges.


The U.S. housing market is currently experiencing its highest inventory levels since January 2008, with 481,000 new homes on the market and a 9.3-month supply as of May. This elevated supply contrasts with historical patterns that often signal economic downturns. However, the current high inventory is largely due to a severe affordability crisis. Average new home prices have surged from $369,000 to $525,000 over the past four years, and the 30-year mortgage rate has more than doubled from 3% to 7%. This has led to a significant drop in new home sales and a substantial increase in down payments and monthly payments. Despite these challenges, a growing number of homeowners are mortgage-free, thanks to baby boomers retiring and paying off their loans, which helps to cushion the broader economy from immediate financial distress.


Recent inflation data shows a promising shift, with the headline CPI dropping below 3%, its lowest level since March 2021. The decline is primarily driven by easing housing inflation, with Shelter CPI decreasing for 15 consecutive months. Although CPI data lags behind real-time rent trends, the narrowing gap suggests that inflation rates may continue to fall. The Feds balance sheet is now at its lowest since December 2020, and market expectations are heavily leaning towards a rate cut in September. This anticipated cut could provide relief for borrowers and help manage the record-high interest expense on U.S. public debt, which has reached $1.095 trillion over the past year.


On July 11, 2024, we saw a dramatic market shift, with small-cap stocks rising 3.6% while large-cap stocks fell 0.9%. This 6 standard deviation event marked a significant reversal from earlier in the year when large caps had significantly outperformed small caps. The bond market, which had struggled, showed improvement following the positive inflation report and the subsequent drop in interest rates, with the Total Bond Market ETF reaching its highest level of the year. Historical data suggests that if the Fed does proceed with rate cuts, bonds could benefit, potentially yielding above-average returns based on past rate-cutting cycles.


These developments underscore a period of significant transition in the financial landscape, emphasizing the importance of careful navigation and strategic financial planning as we advance into the latter half of 2024. Given recent unexpected events - including an assassination attempt on a former president, a presidential nominee withdrawing from the race, and vulnerabilities in cybersecurity infrastructure - it is crucial to stay agile and adaptable in these uncertain times.

Pictured is a chart of ticker IJR, a S&P small-Cap ETF.

LeConte In The News

Happy 10th Work-A-Versary, Robert Moore!

 

We're honored to have you on our team. Your commitment to excellence and passion for providing exceptional service to our clients have made a significant impact. We appreciate your unwavering professionalism, collaborative spirit, and the positive influence you bring to our workplace. Here's to (hopefully) many more!!

 

Help us congratulate him!


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