Assessing Your Core

May 2024 - Assessing Your Core

Your Core

Developing core values is a foundational step in shaping who you are and guiding your behavior and decision-making. Core values act as a personal compass, providing clarity and direction in various aspects of life. These values, which can include integrity, empathy, perseverance, and respect, reflect what you believe is fundamentally important.

Having clear core values is crucial because they help you navigate complex situations with confidence. When faced with difficult financial decisions, your core values serve as a filter through which you can assess your options. This ensures that your choices align with your principles, leading to consistent and authentic actions. For instance, if honesty is a core value, you are more likely to make transparent financial decisions, even when it's challenging.

In both personal and financial realms, core values build trust and credibility. They signal to others what they can expect from you, promoting stronger, more meaningful relationships. By consciously developing and adhering to your core values, you lay the groundwork for a fulfilling and principled life.

At LeConte Wealth Management, our core values guide every aspect of our work. We believe in integrity in all things and taking ownership without excuses. Our commitment to leading-edge thought, technology, and services ensures we provide top-notch financial advice. We listen first because we care, fostering trust and teamwork. By aligning our actions with these values, we help our clients take purposeful action, achieving their life dreams with confidence and clarity.

Is it time to reassess your core? 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.  Let our team help you by contacting us at (865) 379-8200 or reach out at [email protected] for more information. 

Your Life In Weeks

Do you typically view your life as one continuous thought? If so, do you ever feel a lack of celebration, always striving for the next step?

Or do you break your life down into small, digestable pieces? Instead of looking at years, do you view your life week by week?

Here's an excerpt from one of our recent blog posts:

"I came across a 'Your Life in Weeks' post a few weeks ago. This was created by Tim Urban in 2013 and highlights how many weeks we live if we make it to age 90. That gives us 4,680 weeks on Earth. There is a helpful interactive chart on his website that allows you to input your birthday and see where you are in your life journey. I turn 50 early next year, so according to his chart, I am more than halfway through the weeks of my life. I have spent some of those weeks wisely (and wasted a few). But I have about 2,080 weeks (about 40 years) left. That is a stark wake-up call. Time is precious and not to be wasted."

> Read more

Kevin Painter
Managing Partner
LeConte Wealth Management

Sell In May?

You have probably heard a version of this popular trading aphorism. The verbose version that I learned is Sell in May, do not come back til Labor Day. Like most popular proverbs, this one was rooted in historical logic from the Stock Traders Almanac. The problem is that  investors today do not remember that the affirming data set originated from the Dow Jones Industrial Average. The Dow is only 30 stocks, and the index today contains names that are much different than 1986 when it was first published (Apple for one).

May 2024 presents additional factors to consider before following a 3-decade old timing strategy. It is an election year and there are no normal national elections anymore. The Federal Reserve may very well begin cutting rates this summer. From the rate hikes that ended in May 1974 through the pre-GFC cycle that ended in June 2006, the Fed rarely waits more than a year before cuts start. In the nine rate cut instances since 1974, The Fed started cutting in the summer months (June or July).

> To Continue Reading

Hoy Grimm
Managing Partner
LeConte Wealth Management

Recently Published On Financial Friction

 > Vesting In Your Future

Alex Willard, EA
Client Advisor
LeConte Wealth Management

Economy In Focus

The Data: 

• 37 - Consecutive months US CPI is above 3%
• 22 - Percent increase of auto insurance rates in the past year
• 60 - Billion a month in reduction of Fed Balance Sheet

Commentary:

Inflation is a word we're all tired of hearing and definitely feeling in our wallets, but it's not going away anytime soon in the US. For the 37th consecutive month, the Consumer Price Index (CPI) registered above 3%. This is the longest period of high inflation since the late 1980s to early 1990s. On the bright side, Core CPI continues to trend lower.

Transportation is an anomaly when looking at the components of the CPI. While new and used car prices are finally dropping, consumers are facing skyrocketing auto insurance rates, up by over 22%. This marks the largest one-year spike since 1976.

Meanwhile, the Federal Reserve continues to hold the line on interest rates while slowing the pace of Quantitative Tightening (QT). They will be reducing QT to $60 billion a month, down from the previous $95 billion a month.

Despite these challenges, the stock market remains strong, and we have also seen a resurgence of the meme stock mania earlier this month. As our Co-Founder, Hoy Grimm, mentioned in his recent blog post, the old adage "Sell in May and don't come back until Labor Day" might not apply this year. Our team believes there are too many opportunities right now for both stock and bond investors to sit out the summer, even if markets get a bit bumpy. 

We encourage you to stay nimble, be adaptive, and expect the unexpected.

LeConte In The News

On May 9th, Alex spent a few hours teaching the personal finance and Economics class at Maryville Christian School. The main focus was on investing, but he also covered the financial industry, discussed, discussed students' next steps after graduation, and shared practical tips on saving for future goals.

Thank you, MCS, for allowing one of our own to help educate the next generation!

It's that time of year again where more of our LeConte Family have kids graduating. See the pictures and information below, and join us in congratulating them for their hardwork and diligence!

Nathan, son of Jon and Kristin Dockery, graduated summa cum laude from the University of Tennessee  with a Bachelor's Degree in Accounting. He plans to  pursue the CPA designation immediately after completing the MACC program at UT.

Audrey, daughter of Tim and Jean Blackburn, graduated summa cum laude from the University of Tennessee with a Bachelor's Degree in Spanish & Hispanic Studies. After spending the summer in Spain, she will return to UT this fall for her Master's in World Language Education while also student teaching high school Spanish. 

Contact us

865-379-8200

[email protected]