You are not connected. The newsletter may include some user information, so they may not be displayed correctly.

Identify and Embrace Your Why

Identify and Embrace Your Why

 

April 2024 - Identify and Embrace Your Why

Action Through Purpose

In recent newsletters, we've discussed human behavior, decision-making, and motivation. Consider this: every day, we encounter numerous decisions; from hitting snooze to choosing breakfast, selecting a wardrobe, and even deciding bedtime routines. Behind these choices lies a fundamental question: "Why?"


We've explored topics such as turning intentions into actions, embracing the power of the present moment, and bridging the gap between knowing and doing. Despite this guidance, many individuals feel stuck, not due to a lack of knowledge but because of a struggle with taking action. If you're facing challenges moving forward, it may be time to dive deeper into your "Why."

 

"Those who have a why to live can bear almost any how." - Friedrich Nietzsche

When individuals understand their motivations and what propels them forward, they're better equipped to navigate obstacles, finding meaning and determination even in adversity. Identifying your "why" empowers you to overcome the "hows" of life, as it provides a deeper sense of purpose.

 

Here are a couple of practical steps to help you identify your why:

1. Engage in prayer, reflection, or meditation.

2. Read various materials to gain insights into desires, wisdom, and guidance.

3. Recognize your personal gifts and passions, acknowleding your unique design.

4. Seek feedback from mentors, friends, or other leaders in your life.

5. Volunteer or contribute in different capacities.

6. Reflect on identified passions and issues that stir your heart and mind.

7. Embrace personal growth and adapt accordingly.


Is it time for 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 intentions into actions, seizing the day, and implementing gathered knowledge into a first step. Let us help you by contacting us at (865) 379-8200 or [email protected] for more information. 


 

The Mutual Fund Turns 100 Years Old

A hundred years ago, the pooled investments of the day were small, costly closed-end funds that were often run by dubious characters. Their origins date to London in the 1800s where the investment pooling concept began.

 

Mutual funds now hold more than $30 trillion dollars of all investors money. In 2023, 52.3% of US households owned mutual funds. In 1940, there were only 68 mutual funds. Today there are more than 7,300 funds. If you add all the various share classes, the number of funds offered is over 23,000.

 

With so many choices come a mountain of data to analyze. Even a simple 401k plan can offer dozens of investment choices for investors to consider. While I am not 100 years old like Massachusetts Investors Trust, I do have decades of real-world experience helping investors make sensible choices. Just like the OG MIT trustees back in 1924, LeConte acts as your financial fiduciary to help you invest towards your financial goals. Give us a call to discuss your financial dreams with us.


>Check out more, here

Hoy Grimm
Managing Partner
LeConte Wealth Management


Rumble or Relief: Navigating the Ring of Inherited IRAs

In 1974, the boxing world witnessed an iconic showdown between George Foreman and Muhammad Ali, famously dubbed the Rumble in the Jungle. Ali, stripped of his heavyweight title years earlier due to his stance against the Vietnam War draft, aimed to reclaim his glory by facing off against the undefeated champion, Foreman. Around the same time, the financial sector experienced a significant transformation with the implementation of the Employee Retirement Income Security Act of 1974 (ERISA), marking the beginning of the era of Individual Retirement Accounts (IRAs).


In recent years, IRAs have garnered attention, particularly with the introduction of the SECURE Act's 10-year payout rule in 2020. However, amidst ongoing adjustments and uncertainties, as evidenced by the recent IRS relief outlined in Notice 2024-35, the landscape remains in flux.


Just as Ali artfully maneuvered around Foremans power in the ring, beneficiaries can navigate the complexities of inheriting IRAs through strategic withdrawals and proactive tax planning. This underscores the importance of our team, equipped with both a CPA and EA, in addressing IRA beneficiary rules and promoting proactive planning.

 

>Read more, here

Alex Willard, EA
Client Advisor
LeConte Wealth Management


Recently Published On Financial Friction

 >The Pitch of Financial Success

 

Kevin Painter
Managing Partner
LeConte Wealth Management

 

 >Brace Yourself for Future Taxes

 

Jon Dockery, CPA

Managing Partner

LeConte Wealth Management


Economy In Focus

The Data: 

  • 1.6 - GDP Q1 2024
  • 52,000 - Square-foot space goes back to Lender 
  • 6 - Six sectors report net profit margins in Q1

Commentary:

In the first quarter of 2024, the US economy experienced modest growth, with GDP increasing by 1.6%. While this signals expansion, albeit slower compared to previous quarters, it's crucial to acknowledge that certain sectors still confront challenges. An evident marker of ongoing economic difficulties is the return of a 52,000 square foot commercial real estate space to its lender, emphasizing the persistent weakness in the commercial real estate market and its potential impact on various industries.


Despite these hurdles, there are areas of resilience within the economy. Six sectors reported higher net profit margins in Q1, offering an optimistic indication that specific segments are effectively navigating the current economic terrain.


This paints a nuanced picture of the economy. While overall GDP continues to grow, the struggles in commercial real estate suggest that some sectors still grapple with challenges. However, the fact that six sectors have reported improved profit margins illustrates opportunities for growth and resilience amid broader economic uncertainties. This underscores the importance of adaptability and strategic planning for businesses in navigating the evolving economic landscape.


In the realm of US Large Cap Stocks, there's been a significant divergence in performance over the past three years, with a 28% increase, contrasted with a 9% decline in Small Cap Stocks. This stark contrast prompts the question: why?


The prevalent narrative attributes this divide to the impact of higher interest rates, which disproportionately affect smaller companies compared to their larger counterparts.


What will the economy hold this election year? That remains to be seen, but we encourage you to be nimble, be adaptive, and expect the unexpected. 

 


LeConte In The News

Jon Dockery and Alex Willard spent Friday at Maryville High School volunteering for the My Real Life program. The MHS senior class went through a real life simulation of the ups and downs of life, learning how to live off their salary by managing their spending plan. 


linkedinfacebook

Contact us

865-379-8200

[email protected]


Copyright 2024 LeConte Wealth Management, LLC. All Rights reserved.

Advisory services offered through LeConte Wealth Management, LLC. an SEC registered investment adviser.