January 2023 - Winning 2023

If you are earning less than 4.5% on your bank savings dollars, you are giving your bank the permission to steal from you. 

The problem for banks right now is this: savers can earn 4.8% in 6-month Treasury obligations. At LeConte we've encouraged our clients to move their idle cash to one of the many high-yielding alternatives available (or at the minimium, a high-yield savings account).

Our process, Purpose Built Planning©, is focused on our client's household goals Our team walks alongside clients to help them avoid the financial pot holes in life and take advantage of the financial opportunities that are available. As a financial fiduciary, we stay focused on client dreams and the best way to pursue them.

For more information, give us a call (865) 379-8200 or visit our website at lecontewealth.com

...Closer to home, the Federal Reserve raised interest ½% percent. Since it was telegraphed ahead of time, markets got what they were anticipating. Stock bounced back from the October lows and investors are stepping away to enjoy Christmas with their family.

Don�??t fall asleep. Secular bear markets have a way of lulling investors into complacency. It is common to see counter-trend moves in stocks before the bear market forces reverse to new lows. In the 2 months stretch from June to August last year the S&P 500 jumped more than 17% only to roll over and lose 19% in the next 2 months.

...As recession calls grow louder, you should consider what could happen in January. It sounds harsh but, as part of the Federal Reserve�??s battle against inflation, officials have basically called for corporate America to fire folks. Flash back to January 2022, when Apple became the first 3 trillion-dollar company on the planet and enjoyed record profits. Imagine If the CEO held a press conference to announce their great results and ended the speech with. �??And we�??re laying off 5,000 employees.�?� The outcries of corporate abuse and greed would be deafening. Businesses wait for financial distress or economic �??hardship�?� to provide cover to cut fat. That�??s what the Federal Reserve provided to corporate CEO�??s.

>To continue reading, click here

Hoy Grimm
Managing Partner
LeConte Wealth Management

Thank you, Wes!!

Today is Wes McNeillie's 1-year work anniversary. Wes interned with LeConte in 2014, before he went on to graduate from the University of Tennessee Haslam College of Business - UT and The University of Tennessee at Chattanooga. He later completed the certification to become a Certified Financial Planner. 

Wes has brought valuable experience to our team and our clients, as he previously worked at two independent registered investment advisers in middle TN. He uses his skill set to help develop financial plans, assists with investment due diligence, constructing model portfolios, and portfolio management.

He embodies the LeConte Wealth core values of commitment to leading edge thought, integrity in all things, community involvement and teamwork. Thank you for always striving to be better.

Help us congratulate him!

"How can consumers balance the emotional with the practical and how can this help us 'win' 2023 and beyond?"

...Feelings (emotions) are not always facts, but if those feelings (emotions) are explored they can help guide one to a practical action. Below are a few practical steps consumers can take to explore their consumeristic emotions, which should propel them to practical actions.

1. Consumers should �??study�?� themselves to learn what makes them individually tick.

• This includes their upbringing, their current circumstances and asking themselves why they are taking a specific action.

2. Consumers must place �??guardrails�?� in their life to strike a balance.

• Guardrails can take many forms, but here are a few options: create a spending plan, pre-plan when you are going to enter a store, and be specific in what you plan to buy.

3. Consumers should delay their gratification by mapping out a plan.

• This may look like a consumer journaling how they feel in the moment, why they are buying said gift, and writing out a plan on how they are going to find said gift.

4.  Consumers should consider reviewing their current financial situation and plan a few months prior before a purchase (especially larger purchases).

• Ex. The buyer should ask,
  • �??How much do I want to spend?�?�
  • �??Do I/Will I have enough saved to purchase the gift by �??x�?? day? (Also, considering the impact on other areas of your financial picture)�?��??
  • How will my action impact me/my current/future circumstances?�?�

5. Consumers should discuss purchases with a trusted person in their life to receive feedback.

When implementing one or all the above, consumers will be able to build a practical foundation to help them win 2023. The calendar page has been flipped giving everyone a new opportunity. What will you do with it?

>Click here, to read the full post

Alex Willard
Client Adviser
LeConte Wealth Management

>In One Year and Out the Other

Kevin Painter

Managing Partner

LeConte Wealth Management

 >Grandparent-Owned vs. Parent-Owned 529 accounts - Recent Changes and the Future Impact on Beneficiaries

Wes McNeillie, CFP
Tax and Planning Specialist
LeConte Wealth Management

 >Finish 2022

Jon Dockery, CPA

Managing Partner

LeConte Wealth Management

Kevin was selected to join the Blount County Chamber of Commerce Board of Directors and serve as a One-Year Director. Help us congratulate him!