A Letter to P&G Employees

A Letter to P&G Employees

A Letter to P&G Employees

I am asking the P&G community for help.  This includes alumni, retirees, and current employees.

We See a Significant Change Coming for Most Large Companies Including P&G

  • We believe that 1/3 of the S&P 500 companies will restructure and be gone in the next ten years.
  • We believe that the remaining 2/3 will reduce their headcount by 50%.
  • In order to win, large companies will need to redefine what is kept inhouse and what is outsourced.

The 2018/19 Firm Forecast Process Will Involve the Board

  • Nelson Peltz will join the Board on March 1. He is an advocate for change, backed by P&G’s largest shareholders.
  • The 2018/19 Firm Forecast will be the first Order of Business for Mr. Peltz.
  • Mr. Peltz is advocating for a significant restructuring of the company, giving significant authority of the overhead spending and reporting lines to 3 newly formed business units.
  • The primary focus will be on SR&A spending. This includes what is spent inside and what is spent outside, as well as, who has control over the reporting lines and allocation of overhead.
  • If collaboration between the Board representing shareholders and Management representing employee interests does not improve, there could be another proxy fight with more Board seats and control of the Board in play.

Most P&G Employees May Not See What’s Coming

  • These are unusual times. Most in the P&G Community did not believe an activist investor could get a seat on P&G’s Board.
  • The interest of current employees and retired P&G employees, who own stock and stock options may be split.
  • Most employees are accustomed to long term stability, incremental change, and substantially all decision-making authority for the Board and Management held in the hands of P&G’s CEO.          
  • David Taylor’s freedom to share what is happening inside the Board room could be very limited.
  • The days of keeping your head down, working hard, and retiring in your 50’s may not be the highest probability or best outcome for many loyal P&G employees.
  • To adequately prepare for change, employees will need advice and support and do not know who they can trust.

What Lenox is Doing to Help

  • Anticipating these possible  changes, we expanded our capabilities to include career planning.
  • Lenox has entered into licensing and consulting agreements with United Capital, Kolbe, Strength Finder, John Maxwell, and others to help P&G employees sort through a combination of both their career options and financial planning opportunities.
  • We will be hosting a series of Wealth Creation seminars to help P&G employees understand their choices and how their career and financial plans go hand in hand.

How Can You Help

  • Lenox has not done many seminars in the past. We have not typically asked individuals to reach out to potential clients on our behalf. At the risk of being bold and out of character, we are asking for your help.
  • Please share this letter with current employees and other members of the community.
  • Encourage the employees you know to attend our next Seminar for the P&G Community on February 28th. 


Sincerely Yours,

John C. Lame

CEO, Lenox Wealth

 

This material presented by Lenox Wealth is for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.  Opinions expressed are those of Lenox Wealth Management and are subject to change, not guaranteed and should not be considered recommendations to buy or sell any security.  The S&P 500 Index (“S&P 500”) is a market-value-weighted index consisting of 500 stocks chosen for market size, liquidity, and industry group representation and does not include the reinvestment of dividends. The S&P 500 is an unmanaged composite and investors cannot directly invest in the index.

Lenox Non-Profit of the Month: Karen Wellington Foundation for LIVING with Breast Cancer

Lenox Non-Profit of the Month: Karen Wellington Foundation for LIVING with Breast Cancer

Lenox Non-Profit of the Month: The Karen Wellington Foundation for LIVING with Breast Cancer

KWF is not your ordinary cancer foundation. Nope. Not at all. Their focus is on FUN. Fun NOW, to be specific. They  put FUN on the calendars of women and families LIVING with breast cancer – women with calendars full of chemo and radiation treatments, doctors’ appointments, tests, and more tests. Not-fun-stuff. Their Recipients are special ladies and families who are not done LIVING yet. KWF sends them on family vacations, relaxing spa days, dinners out, concerts, road trips and other FUN-ONLY activities .

KWF is friend-fueled, FUN-focused and, make no mistake about it, Girl-powered! They’re a growing group of friends in 10 chapters throughout the US. Friends who know how to have fun and, more importantly, get excited about giving FUN to others.

What started as Karen's dream to send one family each year on a special vacation once she beat cancer has blossomed! Over the past ten years KWF has sent more than 350! special ladies on important vacations, provided more than 150 spa days and other crazy gifts of FUN. In 2017 alone, they sent 86 families on vacation and 50 spa days! They hope to do even more in 2018.

They rely on the generosity of people to donate a week a year of their vacation homes or timeshares, airline miles or cash. Their Giving Committee leverages this generosity, connects the dots, and makes some magic happen. Before it’s too late. #FunNow!

How Can You Help?

NOMINATE a woman LIVING with breast cancer for some FUN: www.karenwellingtonfoundation.org/nominate

DONATE a week of your vacation home, time share or airline miles: www.karenwellingtonfoundation.org/donate-vacation-home-airline-miles

DONATE cash and FUN! 

LEARN more about US! 

www.youtube.com/watch?v=1dURc-rGFAM&t=2s

 

our website: www.KarenWellingtonFoundation.org

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What would you be if you could be who you are?

What would you be if you could be who you are?

What would you be if you could be who you are?

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Build wealth doing what you love.  Let us show you how.

It may sound like a rhyme from a Dr. Seuss book, but it’s an entirely serious and revealing question. 

What if you knew what it is you are meant to be and do in life –- your purpose –– and then acted on it?  What kind of difference could it make in your building personal wealth and living the life you dream of for yourself and your family?

Age isn’t a factor to finding out your purpose in life.  It’s never too early, never too late.  We humans are remarkably flexible and resilient about making changes in life (careers, pursuits, habits), especially when we have a good enough reason to do so –– family, money, happiness, personal fulfillment.

The trick is to find out ‘who’ we are. Science can help. There are quick and proven assessments that reveal this information, specifically how we think about and react to things if we had no other factors affecting us in life. 

The Kolbe A® Index, for example, measures what’s known as our conative strengths –- the actions we take that result from our natural instincts.  Simply put, “what makes us tick”. People who learn this about themselves and then build on their instinctive interests learn to position themselves for greater success, wealth and happiness. 

StrengthFinder® is a simple assessment to help uncover our inherent talents and develop them into strengths.  Having this information can change the way we look at our self, the world around us, and guide us to doing what we naturally do best. 

Kolbe and StrengthFinder are two of the most powerful life-building, wealth-building tools we’ve seen have a remarkable impact on our clients –- self-discovery tools that help to turn your personal strengths into financial strengths. 

If it sounds like we’re your champions at Lenox, we are.  It’s why “we start with you, not your portfolio”, building on your natural interests and inner strengths to help you FUND A LIFE YOU LOVE.

We can’t wait to tell you more.  What wonderful things will you discover about you?   Where will they take you?  Or as Dr. Seuss would say, “The more that you learn.  The more places you’ll go.”

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1 hour review.  Call 513.618.7080 or contact us to Fund a Life You Love.

 

Past Performance is not indicative of future results. This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

SEMINAR: Lenox Talks P&G’s Big Opportunity

SEMINAR: Lenox Talks P&G’s Big Opportunity

SEMINAR: Lenox Talks P&G’s Big Opportunity

Lenox cordially invites you to attend a special event with guest speakers John Lame (CEO) and Steve Reder (President). This event will take place at two different times to better accommodate schedules.  A complimentary meal will be served.

Topics to be covered include:

  • Why the 2018/2019 Firm Forecast is So Important
  • Lenox’s P&G Outlook
  • What We Know About Trian & Nelson Peltz
  • P&G’s Big Opportunity
  • How Your Career and Finances Go Hand in Hand
  • How Lenox Can Help You and Your Family

Space is limited. Please RSVP by February 23 to reserve your seat. Registration begins 30 minutes prior to each session. Feel free to invite family, friends or coworkers - whoever might also be interested in learning more about the future of P&G and the opportunities this outlook presents.

 

Click below to get directions or RSVP for the event:

Lenox Wealth Management is not an authorized representative of your company or the company savings plan. Lenox Wealth Management provides advice and makes recommendations based on the specific needs and circumstances of each client. Investing involves risks and clients should carefully consider their own investment objectives and never rely on any marketing piece to make decisions. The content provided is for information only and is not a recommendation or solicitation to buy a specific product or investment. Lenox Wealth Management does not offer tax advice. Please consult your tax advisor for more information about your individual situation.

Learn Something New Every Day

Learn Something New Every Day

Learn Something New Every Day

Give yourself the competitive advantage of reading.

Most everyone is driven in life “to achieve” –- whether that means to stay at the forefront of their industry, current in their field, or to earn more, do more, to stay physically fit, to be a better cook, better golfer, better photographer, a better whatever. 

At Lenox, we maintain that lifelong achievement requires lifelong learning.  Getting to “better” doesn’t happen without personal commitment. In the words of one business leader, “You have to learn something new every day so that you can compete with those who do.”

There are many ways to learn, but reading is one practice that we follow at Lenox for staying in the know, and not just reading about financial planning and wealth management but across a variety of subjects.  We consider it one of the best tools for getting and staying ahead of the pack, whatever one’s industry.

To that point, a recent article in the Ageist weekly newsletter entitled “Stop relying on your experience.” caught our eye.  Here’s an excerpt...

“Read. Read. Read.  Now more than ever.  The currency of our time is knowledge, not experience, not past achievement, not money.  The people most at risk in our world are those who do not learn.  The smartest people I meet read obsessively.  This has been true for millennia but now even to stay average and not get left in the dust, we need to be bringing into our brains valuable, actionable information constantly.”  www.agei.st

There’s no shortage of reading material available.  According to Amazon, in the US alone, more than one million books were published last year, up by 600,000 since 2007.  Amazon lists a whopping 46,564 books on its site about Budgeting and Money Management, Retirement Planning, Financial Planning, and other financial service topics. That’s nothing compared to self-improvement books, the leader in all book sales at $10 billion per year in just the US.

At Lenox, we feature a favorite book each month on our website.  This month’s book is “Put Your Dream to The Test” by John Maxwell, internationally-known author and publisher.  It’s an exceptional look at why do some people dream, and realize their dream but others never do. It starts with ten honest, straightforward questions.

For a full listing of our favorite books, click to http://fundalifeyoulove.com/reading-list/  We’d also love to hear your favorites.  What are you thinking about, doing and reading to constantly learn and to give yourself the competitive advantage?

If it sounds like we’re your champions, we are –– with financial planning and life planning advice and guidance to help you live the best life you can with peace of mind.

Fund A Life You Love... we live it and want our clients to experience it as well.

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1 hour review.  Call 513.618.7080 or visit www.lenoxwealth.com to Fund a Life You Love.

Past Performance is not indicative of future results.

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Companies Are Growing and Hiring - Is Now the Time to Make the Move?

Companies Are Growing and Hiring - Is Now the Time to Make the Move?

Companies Are Growing and Hiring

Is now the time to make a career move?

Things are looking up.  Companies are expanding, building new facilities, bringing jobs back into the USA and hiring for new ones.  Opportunities are at an energizing high across many industries.  While no one can make a long-term forecast with any accuracy, optimism is on a roll and picking up speed.

Where do you stand in this current environment?  If you’re thrilled with your present career and growth path, then you may not care to read any further. If not, as a growing number of companies are looking for new talent, are you positioning yourself to take advantage of the roles to be filled?  Is now the time to make the career move you’ve been contemplating for months or years?  At a minimum, is now the right time to seriously explore what’s out there?

Same goes if you’re an entrepreneur or if you’ve always dreamed of being one.  Is now the time to expand your business to reach its broader potential?  Or, is now the time to seriously look at breaking free from the corporate world to launch your own business?

Change is never easy.  Risk is always part of life.  But, considering that most people are staying in the workforce well into their 70s and beyond (whether by choice or financial need), why not be happy and position yourself to do the work you love to do?

If you’re thinking about making a career move, there’s no time like the present to give it serious consideration.  If you haven’t already done so, write down the following...

  • What you like/dislike about your current job/career
  • If nothing stood in the way, what you would really like to call your career
  • What excites you about a career move; what scares you
  • The obstacles you see to your making a career move at this time
  • How different your life would look 3 years from now if you were doing what you love
  • What a new career could mean to your financial planning, wealth management, retirement plan, or day-to-day budgeting and money management
  • If you knew you couldn’t fail, what would you do
  • If money didn’t matter what would you do

At Lenox, we work hard not only to help our clients FUND A LIFE YOU LOVE but also to Live A Life You Love.  That’s why career advice is often part of what we bring to the table.  We’re the sounding board, neutral third party and understanding minds that provide both pragmatic and empathetic guidance.

We’d be delighted to help you think about, envision, plan and prepare for the career move that can lead to your greatest personal and financial happiness. 

Fund A Life You Love... we live it and want our clients to experience it as well.

If you’re ready to discuss financial planning and life planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1 hour review.  Call 513.618.7080 or contact us here to Fund a Life You Love.

 

Past Performance is not indicative of future results.

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

January 2018 Outlook on Procter and Gamble Co. (P&G)

January 2018 Outlook on Procter and Gamble Co. (P&G)

January 2018 Outlook on Procter and Gamble Co. (P&G)

Current P&G Stock Outlook:

  • We are increasing our 12-month outlook from $93/share to $99/share.

  • This increase represents a combination of the latest quarterly update from P&G plus the addition of Nelson Peltz to the Board effective March 1.

  • As you will recall, in our prior outlook, we earmarked a $6/share reserve for upside reflecting the positive impact we believed Trian Partners could have on the stock price if Nelson Peltz was elected to the Board.

  • For perspective, Wall Street analysts have an average 12-month stock price target of $93.92/share.  Analyst forecasts currently range between $80/share and $105/share.
  • Please note there has been a $0.34 increase in Wall Street Analyst average since our October 2017 Outlook.
  • We are willing to add another $5-$10/share to the price forecast if David Taylor, the Board and Trian can develop a collaborative relationship.

Highlights of P&G’s Quarterly Results:

  • P&G continues to deliver against plan, but the overall results, especially for top line revenue growth, continue to be very incremental.

  • P&G reported second quarter FY 2018 net sales of $17.4 billion, a 3% increase versus the prior year (note: 1% positive impact due to foreign exchange).

  • P&G had organic sales growth of 2% for Q2 fiscal year 2018.
  • Core earnings per share increased 10% to $1.19, driven primarily by increased net sales & a lower core effective tax rate.
  • Organic sales increased in three of five business segments. The beauty segment was strongest with 9% increase in organic sales year over year. Grooming segment continued to be challenged, seeing a 3% decline in organic sales.
  • Operating cash flow for the quarter was $3.7 billion.
  • In Q2, P&G returned $1.8 billion to shareholders through dividends, and repurchased $1.8 billion of common stock.
  • In April 2017, P&G announced a dividend increase of 3%, from $0.6695 to $0.6896 per share. Historically, dividend increases have averaged around 8%. This is an improvement the versus last dividend increase, in April 2016, which was only 1%.
  • P&G anticipates net earnings benefit of approximately $135 million from Tax Act in FY 2018, with the benefit doubling in 2019, and reaching $600 million in 2020 as the tax rate is fully phased in.

Fiscal Year 2018 Guidance:

  • FY 2018 guidance is again incremental; P&G reiterated its guidance for organic sales growth in the range of 2% to 3%, with all-in sales growth of around 3%.

  • P&G raised its FY 2018 top end guidance for Core EPS growth to 5% to 8%, up from 5% to 7%, which is attributed to the potential benefits from the Tax Act.

  • For FY 2018, dividends are expected to be in the $7.5 billion range.

  • Raised FY 2018 range for share repurchases to $6 to $8 billion, up from $4 to $6 billion.

  • We expect the combination of Trian headlines, dividends and share repurchases will keep modest upward pressure on the stock while reducing downside risk if there is U.S. market correction due to a recession.

Understanding our $93 to $99 increase Price Target:

 

P&G did Beat the OND forecast

Although the revenue lines continue to reflect slow growth. P&G did beat the earnings forecast for the quarter.

  • We do not understand the selloff in the stock. We believe there is an increasing credibility gap between Jon Moller and Wall Street. In our opinion, if Jon was more open and direct about P&G’s challenges, it would be favorably received by Wall Street. For example, we don’t agree problems in Algeria are a major driver of the company’s results.
  • Although P&G has delivered top line revenue growth at the low end of guidance for the last two quarters, the company maintained its annual target for organic sales growth. This, hopefully, signals better news is coming in the remaining two quarters.
  • Organic Sales growth is lower than category growth rates, indicating P&G can lose share and still meet the forecast.
  • P&G has increased the forecast for reduced corporate taxes. We believe their estimates are very conservative. 

Nelson Peltz and Trian Partners will bring increased focus to the Board and Management.  

  • Nelson and Trian have a strong track record of adding long term value for shareholders
  • We believe Trian has the potential to bring an additional $30 to $40/share in value to the price of the stock. We do not believe that P&G’s current plan brings a “private equity” mindset to the company.
  • We look forward to a day where Trian, David Taylor, and P&G’s Board work in collaboration. Although it’s been painful to watch, adding Nelson to the Board is a start. The good news is David and the Board’s lead director, not P&G’s legal department, can provide leadership and set the tone from here.
  • We believe naming Meg Whitman, a seasoned P&G alum, corporate executive, and tenured P&G director, as lead director will help bridge the gap even further.
  • Providing the Board and Trian’s staff more access to both P&G’s leadership and financial data could help.
  • Finally, creating a working relationship between Jon Moeller, Clayt Daley, and Trian’s resources could substantially improve communication, create a better understanding of where P&G and the Wall Street investment community are coming from, and accelerate progress.
  • We believe a more active and engaged Board, with increased leadership coming from David, Jon, Clayt, and Trian will help P&G create a “safe environment” for newly recruited outside talent to accelerate the change.

Continued Cost Cutting—P&G continues to focus on driving out organizational inefficiencies. After completing a $10 billion initiative launched in 2012, P&G launched another $10 billion cost savings initiative. The company expects much of this cost savings to come from driving down the cost of goods and increasing productivity. Based on history and guidance, it is unclear what percentage of the $10 billion, if any, will go to the bottom line.

Sales Growth P&G is maintaining their forecast for all-in sales to increase 3% in fiscal year 2018.

Share Repurchases—P&G completed $5.2 billion of direct share repurchases in fiscal year 2017. The company expects to buy back an additional $6 to $8 billion in fiscal year 2018. Share repurchases will continue to be a critical component of our price target.

Macroeconomic, Political, and Competitive Risks—P&G identified several key risks that they have not taken into consideration in their FY 2018 guidance: Significant deceleration of market growth rates, further political and economic volatility, further currency weakness, and further commodity cost increases.

 

The above material is not investment advice and should not be relied upon by any person in making financial or investment decisions.  The price of P&G shares may go down in value and at no time reach the above listed Lenox price target.  Any persons reading these materials should not take any actions without first contacting their investment and tax advisor.

 

Call us for a complimentary 1-hour review.  Call 513.618.7080 or contact us here to Fund a Life You Love.

 

Past Performance is not indicative of future results.

This newsletter is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Source: P&G Earnings Release 01/23/2018

What’s New About 529 Plans?

What’s New About 529 Plans?

What’s New About 529 Plans?

The new twist to these education savings plans, thanks to the 2017 tax legislation.

Designed to help parents and grandparents save for their children’s or grandchildren’s college or post-secondary education expenses with tax advantages, 529 Plans now have a new twist.

Previously, expenses covered under the plan included tuition, room and board, computer software or any other equipment needed for the student. Withdrawals used for these expenses were and still are tax free.

So, what’s the new twist?

Parents and grandparents now can use the savings from a 529 account also to pay for tuition at a K-12 private or religious school.  That can be of great advantage to many families. 

HOWEVER, there is an important watch out –– withdrawals for students who are of pre-college-age are limited to $10,000 per year per student.

The risk, as such, is that families may deplete their 529 Plan(s) by the time the student goes off to college.

It is critical that parents and grandparents think ahead and closely monitor the amount in each 529 Plan to pace withdrawals in such manner that necessary funds will be available for as many years as needed.  And if not, the time to figure out another way to help cover education expenses is before those monies are needed.

Let us know if we can help.  Our Lenox professionals are experts in education funding.

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1 hour review.  Call 513.618.7080 or contact us here to Fund a Life You Love.

 

 

Past Performance is not indicative of future results.

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Facts presented have been obtained from sources believed to be reliable.  However, Lenox cannot guarantee the accuracy or completeness of such information.  Lenox does not provide tax or legal advice, and nothing contained herein should be taken as legal or accounting advice.  Individuals should seek such advice based on their own particular circumstances from a qualified tax or legal adviser

Lenox Book of the Month: Put Your Dream to the Test by John Maxwell

Lenox Book of the Month: Put Your Dream to the Test by John Maxwell

Lenox Book of the Month: Put Your Dream to the Test by John Maxwell

Why do some people dream, and never realize their dream but others actually achieve their dream? Dr. John Maxwell believes the answer lies in ten honest, straightforward questions. Put Your Dream to the Test provides an action plan that you can start using today to see, own, and reach your dream.

Dr. Maxwell said, “The more valid reasons you have for achieving your dreams, the greater your odds will be of achieving them.”

Whether you've lost sight of an old dream or you are searching for a new one, this is a great place to start. Find out what drives you to do what you do.

Dreams come from hidden thoughts and possibilities. Pursue your dream; begin today.

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If Money Were No Object...

If Money Were No Object...

If money were no object, what would you do with your life?

Get beyond the limitations.  Get busy doing what you love.

“Sure, I’d love to but I can’t afford it.”  Love to what?  Move to another city?  Change careers? Get married?  Have a family?  Start your own business?  Travel?  Retire?  Is money really the limitation or is it something else?  Oftentimes, we get in our own way when it comes to doing what we really want to do in life, because we use not having enough money as our excuse.  For a minute, stop and think... what if money were not a hindrance, what would you do with your life?

Find your answer, starting with these 4 tips:  

1.  Make a list.  Make two lists.

Get down on paper what matters most to you.  If married or involved with someone, have your significant other do the same.  Compare your lists.  Are you on the same page?  This exercise is not only eye opening in understanding yourself and each other, but it helps you align your financial plan with your life plan.   At Lenox, our Honest Conversation® tool makes this exercise both easy and enjoyable.  Our clients rave about it. We’d love to show you how it works and give you a no-commitment test drive.

2. Find a mentor.

Ask the most successful, life-embracing people you know and almost all will tell you they had or still have people in their life who have given them the encouragement, motivation and support to try, do and accomplish what they could not have done on their own.  It might be a parent, friend, teacher, clergyman, or even an author they’ve never met.  Having been on the receiving end, we know firsthand at Lenox the benefits of mentoring and as such, we uniquely offer life coaching to our clients, seeing it as an essential to sound financial guidance, budgeting, and wealth creation.

3. Read things inspiring.

There’s no shortage of books, articles and websites whose goal is to inspire us to optimize our life. Don’t knock these resources if you haven’t tried them.  We have an exhaustive library at Lenox of books and materials that we keep adding to on a weekly basis –- what we believe is the best thinking from the best minds in the financial planning and life planning arena for people of all ages and income levels.  Watch for our Lenox Book List to be revealed soon.  Or, send us your email and we’ll send you the list.

4.  Think ahead.  Plan backward.

Where do you want to be in three years, five years, 10 years?  What do you want to accomplish?  How are you going to get there?  Time’s ticking by.  Start today to prioritize your to-do’s, figure out the cost and time commitment for each, and design your life plan and financial plan around them.  We help our clients do this day in and day out.  It’s what we mean when we say we help you Fund A Life You Love®.

If it sounds like we’re your champions, we are. You deserve financial planning that helps you live the best life you can with financial comfort and peace of mind.

Fund A Life You Love... we live it and want our clients to experience it as well.

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1 hour review.  Call 513.618.7080 or contact us here to Fund a Life You Love.

Past Performance is not indicative of future results.

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

5 Ways to Put the New Tax Reform to Work for You

5 Ways to Put the New Tax Reform to Work for You

5 Ways to Put the New Tax Reform to Work for You

Time to rethink some of life’s major financial decisions?

There’s a lot to learn and to understand about the provisions within the recently-passed 2017 Tax Reform. 

One thing for sure is that the new tax law could change how you think about the financial decisions you make whatever your stage of life –– everything from what job you take, if and when you change careers, whether or not you get married and when, if you buy a home or rent, if you move or remodel your existing home, what schools your kids attend, if you go back to school and when, if you take a vacation and where you travel, if and when you retire, the size and timing of charitable contributions, and the list goes on and on.

The reality is that the financial strategy and plans you currently have in place will likely need to be revisited.  “This can be both an exciting and confusing time,” notes Steve Reder, President of Lenox Wealth. “Changes in tax laws have a ripple effect that tends to affect most parts of our lives.  This is the time for people to talk to their financial advisor, tax planner or accountant to reassess their financial picture taking into consideration how the new tax reform will affect them and how to use it to their advantage in the short and long term.”

Here’s a good place to begin –– 5 ways the new tax reform might affect you. 

1.  You are among the projected 80% of taxpayers who will receive a tax cut.

According to the office of Congressman Brad Wenstrup (OH), “In 2018, taxes will be reduced by about $1,600 on average, increasing after-tax incomes by 2.2%. In 2018, 80% of taxpayers will receive a tax cut from the included provisions––averaging about $2,100.”

2.  You have dependents (children) eligible for the Child Tax Credit.

In the new law, the child tax credit doubles from $1,000 to $2,000 per child, with $1,400 of that amount refundable (indexed to inflation). 

3.  You are a student or an educator.

Student loan interest and graduate school tuition waivers are maintained under the new law, as are deductions for educator expenses.

4.  You may not itemize anymore on your taxes anymore.

The standard deduction doubles with the new tax bill and things you typically itemized may get reduced. The Tax Policy Center estimates that the number of people who can itemize will drop from 37 million to 16 million (a drop of 57%). For those who don’t itemize, this will eliminate the tax deduction for state/local taxes, medical expenses, donations to charity, and home mortgage interest. It will be even more important to work with your CPA / financial advisor to determine how to best navigate these changes.

5.  Your business is organized as an S corporation, partnership, LLC, or sole proprietorship.

Among our nation’s job creators, your corporate tax rate is now lowered to 21% from 35%.  The tax reform package also includes a first-ever 20% tax deduction that applies to the first $315,000 of joint income earned by businesses organized as an S corporation, partnership, LLC or sole proprietorship.

Don’t go it alone.  Get the help of a financial advisor to help you plan for the future. You may think you don’t qualify or can’t afford professional financial advice.  Truth is, you can’t afford not to get professional guidance.  Financial advisors not only complement your tax advisor, they also know the ins and outs of 401Ks, IRAs, funding education, buying a house or car, retirement savings, and investment strategies.  They help to guide you beyond financial hurdles and challenges whatever your stage of life, income or net worth.  At Lenox, we call it helping you Fund A Life You Love™.

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1 hour review.  Call 513.618.7080 or contact us here to Fund a Life You Love.

Past Performance is not indicative of future results.

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Facts presented have been obtained from sources believed to be reliable.  However, Lenox cannot guarantee the accuracy or completeness of such information.  Lenox does not provide tax or legal advice, and nothing contained herein should be taken as legal or accounting advice.  Individuals should seek such advice based on their own particular circumstances from a qualified tax or legal adviser.

Stop talking about “it” and do it.

Stop talking about “it” and do it.

Stop talking about “it” and do it.

How to apply the 5-minute rule to life planning/financial planning.

In a prior blog, we asked you to ask yourself, “What will my life look like in 2018 and beyond?

As we said back then, the big question is how to make sure your ideas, goals and adventures get planned AND actually happen.

Here’s the deal. Stop the excuses about why you haven’t gotten around to doing whatever it is you want to do. No one’s going to do it for you. It’s in your hands. You can talk about it, or you can do it. And, there’s no time like the present to dig into whatever you didn’t accomplish last year or the things you want to accomplish this year.

Put the 5-minute rule to work when life planning/financial planning.

The idea behind using the 5-minute rule to accomplish day-to-day tasks is simply to “start doing it” –– whether cleaning out a closet, tackling the messy basement, organizing your office, you name it. No more “I’ll get to it tomorrow.” You could have already started the task in just the time it took you to think about it.

Let’s apply the same principle to life planning/financial planning. Life is not going to wait around for you. Or, as we recently read, “Don’t let life happen to you.” In other words, take charge and intentionally think about, plan and do as many of the things you want to do while you can, whatever your age, income level or stage of life. Make a list. Do the research. Run the numbers. Book it. Create it. Explore it. Discover it. Learn it. Finish it.

At Lenox, we are your advocates to help make happen what’s important to you.

Unlike most financial services firms, we start with you, not your portfolio. It’s about helping you use your strengths and talents to “Fund A Life You Love”. One of our unique tools is to take you through an Honest Conversation®, prompting great discussion about what is important to you, or if you are a couple, what is important to each of you individually and as a couple. We create not just a financial plan but also a life plan. It is what makes Lenox different. And it’s what makes financial planning doable, actionable, and dare we say... fun.

If it sounds like we’re your champions, we are. You deserve financial planning that helps you live the best life you can with financial peace of mind. We help you do just that.

Fund A Life You Love... we live it and want our clients to experience it as well.

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more. Let’s talk. It’s your tomorrow.

Call us for a complimentary 1 hour review. Call 513.618.7080 or contact us here to get starting Funding a Life You Love.

Past Performance is not indicative of future results.

 

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Lenox's Non-Profit of the Month: Matthew 25: Ministries

Lenox's Non-Profit of the Month: Matthew 25: Ministries

Lenox's Non-Profit of the Month: Matthew 25: Ministries

Matthew 25: Ministries is an international humanitarian aid and disaster relief organization helping the poorest of the poor and disaster victims locally, nationally and internationally.  By rescuing and reusing products from major corporations and manufacturers, Matthew 25: Ministries provides basic necessities, nutritional supplements, educational materials, building supplies, medical care, community development and disaster relief across the US and worldwide.

Disaster relief has been an important part of Matthew 25: Ministries’ work in the last several months.  Matthew 25 continues to respond to the damage left behind by domestic and international disasters including Hurricanes Harvey, Irma and Maria, wildfires in California and an earthquake in Mexico. 

Matthew 25’s domestic Disaster Response Team deployed on August 29 and traveled the various areas impacted by hurricanes until the end of September.  They traveled to locations in Texas, responding to Hurricane Harvey and then transitioned to Florida where they responded to areas impacted by Hurricane Irma. The team distributed initial supplies, provided laundry services, and connected with partners in the area.  The Disaster Response Team also responded to the California wildfires with supplies and laundry services.

Matthew 25 sent a medical mission team to Puerto Rico in October that provided medical care and supplies to approximately 900 people, and distributed disaster supplies to approximately 10,000 people.  Additionally, more than 30,000 water purifier sachets were distributed (the prepared equivalent of 16 truckloads of water).

Matthew 25’s focus during disasters is typically on moving large amounts of critically needed aid into affected areas for distribution to victims through partner organizations. Matthew 25 works through partners who are local to the recipient area – already established in the recipient location, aware of the needs in the surrounding community and able to get that aid to the people who need it.  In 2017, Matthew 25 distributed more than 130 containers of aid to disaster locations including California, Texas, Florida, Cuba, Dominica, Mexico, Puerto Rico, St. Lucia and St Croix.

908 containers of aid (more than 16,000,000 pounds) in 2017!

Matthew 25 welcomes volunteers 6 days a week at their Blue Ash facility. Matthew 25 welcomed more than 66,000 volunteers who donated over 160,000 hours of time in 2016.

More than 99% of Matthew 25: Ministries cash and in-kind donations go toward programs. Matthew 25 has been highly ranked on Forbes' list of the Most Efficient Large Charities in the US. Matthew 25 is also highly ranked among more than 2,500 four star charities on Charity Navigator. Matthew 25 is accredited by the Better Business Bureau’s Wise Giving Alliance Standards and is listed in the Chronicle of Philanthropy's Philanthropy 400. Matthew 25: Ministries is registered in and reports to their home state of Ohio.

 

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Christmas Giving at Lenox is the Best!

CHRISTMAS GIVING AT LENOX is the BEST!

Lenox worked with Corpus Christi Parish to provide Christmas dinner to 4 families in the Cincinnati area. Each of the four families received a Kroger gift card as well as all the fixings to make Christmas dinner and dessert, finished off with a gingerbread house kit and a Christmas movie. 


One special family of 7 received Christmas dinner AND wrapped gifts. 

Lenox was able to  provide the pajamas and sweatshirts requested by the family as well as extra clothing items, board games, a Christmas movie, books for each child and books to share as a family plus much more!

The best gift was a Cincinnati Zoo pass for the family.

We even put together something special for Mom! 

This made our Lenox Christmas the Best!

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10-Year Financial Planning Roadmap for Couples

10-Year Financial Planning Roadmap for Couples

Marriage is a wonderful thing for millions of couples, but that doesn’t mean it comes without stress, including financial stress.  Learn more about wealth management strategies for couples.

What Will My Life Look Like in 2018 and Beyond?

What Will My Life Look Like in 2018 and Beyond?

What will My Life look Like in 2018 and Beyond?

We speak to family and life dreams. If your financial advisor only talks numbers- talk to us.

Do you look back a year, let’s say to January 1, 2017, and think about what happened this year?

Was it a good year? Did you do everything you wanted? Or, did some of your expectations fall short. The big question - how to make sure your ideas, goals and adventures get planned AND actually happen.

At Lenox, we take people through an exercise called Honest Conversations®, prompting great conversations about what is important to you, individually and as a couple. We create not just a financial plan but also a life plan. It is what makes Lenox different.

Where do you see yourself in 1, 5 or 10 years?

Lenox has a culture where each client is unique to us and we plan around his or her uniqueness. It is not a one size fits all.

Fund a Life You Love®, we live it and want our clients to experience it!

Let us help you make 2018 a year you will never forget.

If you’re ready to discuss financial planning that will allow you to Fund a Life You Love®, we’d love to tell you more.  Let’s talk.  It’s your tomorrow.

Call us for a complimentary 1-hour review.  Call 513.618.7080 or contact us here to Fund a Life You Love.

Past Performance is not indicative of future results.

This blog is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Novel of the Month A Gentleman in Moscow by Amor Towles

Lenox Book of the Month: A Gentleman in Moscow

 

Count Alexander Ilyich Rostov is an aristocrat put on house arrest for years and learns to live in his surroundings, making the best of life. The ultimate optimist! As you see the Count's life through his eyes, you not only learn a bit of Russian history over a 30 plus year span but also about respect for people and what a true gentleman is. It has a certain lightness. Great book to start a new year- how to make the best with what we have and capitalize on every opportunity.!

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Lenox Book of the Month: The Icarus Deception by Seth Goodin

 

In this tale, Icarus’s father made him wings and told him not to fly too close to the sun or his wings would melt and he would fall to his death. Of course, Icarus ignored the warning. The lesson: Play it safe and listen to what others tell you.

But, on the flip side, Icarus was also warned not to fly too low, because the dampness in the seawater would ruin his wings.

Flying too low can be worse than flying too high, because we feel deceptively safe.

So, Seth Godin asks, “What is our safety zone?” Be creative, and think outside the box. We may not feel comfortable where we are but we are learning and trying new things.

In this book, Godin shows us how it’s possible and convinces us why it’s essential.

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