Why Work with a Fiduciary Financial Advisor?

Why Work with a Fiduciary Financial Advisor?

Why Work with a Fiduciary Financial Advisor?

The difference you need to know.

 

Financial advisors fall into two camps –– fiduciaries and non-fiduciaries.    It’s important to know the difference when choosing a financial advisor, whatever your age, income level or wealth.  Generally under current laws and regulations, a fiduciary is held to a more strict “fiduciary standard” versus the less strict “suitability standard” for non-fiduciaries. 

 

In a nutshell, fiduciary financial advisors are required by law to put their clients’ interests ahead of their own.  That may sound obvious, but it’s not necessarily the case.  By example, if an advisor favors or otherwise is influenced to engage his or her clients in investments that may benefit the interests and compensation of the advisor more so than the client... he or she may not be acting as a fiduciary.

 

What is a fiduciary?

 

A fiduciary is a person or legal entity (bank or brokerage firm) that has the power to act on behalf of another (client, beneficiary, principal) in situations requiring total trust, good faith and honesty.

 

The fiduciary standard means a fiduciary financial advisor must by law put client interests first and foremost.  The advisor cannot exploit his or her position of trust and confidence for personal gain at the expense of the client. Fiduciaries have a “duty to care”.  This means they are expected to continually monitor a client’s investments and financial situation and adhere to best practices of conduct for the duration of the advisor/client relationship.

 

According to the Securities and Exchange Commission, which regulates registered investment advisors as fiduciaries, the fiduciary duty also includes...*

  • Acting with undivided loyalty and utmost good faith
  • Providing full and fair disclosure of all material facts, defined as those which “a reasonable investor would consider to be important”
  • Not misleading clients
  • Disclosing all conflicts of interest to clients (such as when the advisor profits more if a client uses one investment instead of another)
  • Not using a client’s assets for the advisor’s own benefit or the benefit of other clients

 

What is a non-fiduciary?

 

By comparison, a non-fiduciary financial advisor is held only to the suitability standard, which does not require the advisor to recommend the best possible investments for the client’s goals.  A recommended investment needs only to be “suitable”, which means the advisor is allowed to choose investments that may or may not be totally appropriate for client goals and/or reward the advisor with fees or compensation that may differ by the investments chosen.

 

Should you expect every financial advisor to act as a fiduciary?

 

No, brokerage firms that are not acting as a registered investment adviser are subject to the suitability standard, not the fiduciary standard.  With the recent demise of the Department of Labor Fiduciary Rule this has become even more pronounced

 

Lenox –- Strictly financial fiduciaries

 

At Lenox, we faithfully serve as financial fiduciaries, seeking to make each financial decision in the best interest of the client.  We embrace the new CFP Board rules scheduled to go into effect in October, 2019, which mandate all holders of a CFP- Certified Financial Planner who engage in financial advice be held to a stricter fiduciary standard than previously demanded. Lenox has been living this higher standard since our inception, versus some brokerage firms that are resisting the change. **

 

If you have questions about working with a financial fiduciary advisor, give us a call.  We’re happy to share more details with you at any time.

 

*    US News-Money March 21, 2018

**  wealthmanagement.com  “Will Brokerages Comply with CFP Board’s New Fiduciary Standard?”  March 29, 2018

 

At Lenox, we work with clients to help guide them in every aspect of their financial life –– from setting financial priorities and optimizing income, to eliminating debt, establishing budgets, funding education, retirement planning, and working through financial hurdles –– the entire realm of wealth creation, wealth building, and wealth management.  We start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.

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

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

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

 

Current P&G Stock Outlook:

  • We are maintaining our 12-month price target of $91/share.
  • We believe the forecast numbers being provided by P&G’s senior management for 2018/2019 are conservative, after factoring in tax savings and share repurchases.
  • The current stock price, even with the recent runup, we believe represents an unusual value, especially with the dividend yield now close to 3.5%.
  • P&G share attractiveness stems from the continued return of shareholder value through increased dividend payouts and share repurchases ($60.5 billion over the last ten years!), yet the company’s market capitalization has remained fairly stagnant since 2008.
  • Wall Street analysts have an average 12-month stock price target of $82.08/share. Analyst forecasts range between $72/share and $93/share, indicating there remains disagreement between experts on the company’s outlook and valuation.
  • As we indicated in our prior outlook, unfortunately, there could be substantial risk that David Taylor might be replaced, this time by an outside CEO candidate.
  • We were surprised the Board, including Nelson Peltz, approved such conservative earnings guidance for 2018/2019.
  • Is this a sign they are giving David a “layup” to buy more time to deliver on his plans, or is there an agreement at the Board level to not rock the boat while CEO recruiting efforts to find a more transformational leader occur quietly behind the scenes?

 

Highlights of P&G’s Quarterly and Fiscal Year (FY) 2018 Results:

  • For the fourth quarter FY 2018, P&G delivered modest incremental growth, exceeding Wall Street bottom line estimates, but missing on the top line, with revenue coming in short at $16.50 billion vs. $16.54 billion expected.
  • Fourth quarter FY 2018 produced net sales of $16.50 billion, representing a mere 1% increase year over year.
  • P&G had organic sales growth of 1% for the fourth quarter driven by 3% organic volume growth, they noted pricing was a -2% headwind.
  • Fourth quarter Core EPS rose 11% over the same period last year to $0.94, exceeding analyst estimates of $0.90 per share.
  • Once again, Organic Sales increased across three of their five business segments, led by the beauty segment with a 7% increase in organic sales year over year.
  • As expected, the Grooming & Baby Care segments continued to face headwinds (i.e., rising commodity prices and increased competition) in Q4 with Grooming experiencing a 3% decline in organic sales and Baby Care falling 2%.
  • For Fiscal Year 2018, P&G reported total net sales of $66.8 billion, an increase of 3% year over year, including a 2% positive impact from foreign exchange.
  • Total FY 2018 Core Earnings Per Share came in at $4.22, representing an increase of 8% from the prior year.
  • During FY 2018, P&G returned $14.3 billion to shareholders through $7.3 billion in dividends and $7 billion in share repurchases.

 

Fiscal Year 2019 Guidance:

  • Fiscal Year 2019 guidance for organic sales growth ranging from 2% to 3%.
  • P&G expects FY 2019 all-in sales growth of approximately 0% to 1% versus 2018.
  • FY 2019 guidance for Core EPS growth is 3% to 8%.
  • For FY 2019, dividends are expected to be $7 billion, and the company expects to repurchase up to $5 billion in common shares.
  • At this point it remains unclear how P&G will utilize the increased after-tax cash flow from corporate tax reform to increase long-term shareholder value in Fiscal Year 2019 and beyond.
  • A key takeaway was the company’s announcement that after more than a year of trying to combat weak demand with lower prices on staples like Tide Detergent and Gillette razors, they have begun rolling out price increases in North America of 4% on Pampers diapers, and 5% on Bounty, Charmin, and Puffs brands.

 

Understanding our $91 Price Target:

  • Nelson Peltz and Trian Partners will bring Shareholder Point of View to the Board and Management
    • Nelson and Trian have a strong track record of adding value for shareholders and holding management accountable, especially in large consumer staples who are not adapting quick enough to changing consumer habits.
    • Longer term, call it 3-4 years, we believe Trian has the potential to bring an additional $30 to $40 per share in value to the price of the stock.
    • P&G closed at $80.65 on August 1, 2018. The stock has fallen 12.2% year-to-date, putting added pressure on Nelson and Trian to deliver better results to both P&G shareholders and Trian investors.
  • Continued Cost Cutting—P&G continues to extract another $10 billion in costs, focused on reducing overhead, lowering material costs, and increasing manufacturing and marketing productivity. It is not clear how much of this cost savings will drop to the bottom line, especially given major resistances in the form of increased transportation costs, rising raw material costs, unfavorable mix, lower pricing, and volatile foreign exchange.
  • Macroeconomic, Political, and Competitive Risks—P&G identified several key risks that they have not taken into consideration in their guidance: Significant strengthening of the US dollar, further rising commodity prices, continued political and economic volatility, significant deceleration of market growth rates, and increased competition on highest margin products.

 

The above material is not investment advice and should not be relied upon by any person in making financial 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.

 

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 Wealth adviser if you would like additional information.

Source: P&G Earnings Release 07/31/2018

Your Assets Are Not A Dollar Sign

Your Assets Are Not A Dollar Sign

Your Assets Are Not A Dollar Sign

They are your inherent gifts and strengths.  Here’s why.

 

Each of us is born with a potential Unique Ability that has four characteristics: First, it is a superior ability that other people notice and value; second, we love doing it and want to do it as much as possible; third, it is energizing both for us and others around us; and fourth, we keep getting better, never running out of possibilities for further improvement.
— Unique Ability® Creating the Life You Want, by Catherine Nomura and Julia Waller with Shannon Waller, based on a concept by Dan Sullivan.

We begin with this excerpt because it captures what we at Lenox believe can drive both the greatest wealth and happiness for people of all ages and income levels.  Simply put, a person’s greatest assets are not a dollar sign or their net worth but, instead, their inherent gifts and strengths. 

 

Money will come and go.  Careers can flourish or fail.  Luck may be on your side one day and not the next.  Most sustainable in life are the natural talents people are born with, what they’re really good at, what they like doing most, and what makes them happiest.  The challenge for most people is to be willing to recognize their inherent gifts and strengths and to let them guide their life.

 

Think about it.  Based on the four Unique Ability characteristics noted above, you probably already know your own Unique Ability.  What if your life could be built around developing it, excelling at it, making a living from it (perhaps beyond your wildest dreams), and at the same time loving what you do each and every day?

 

Unfortunately, because people can be so deeply focused on building wealth, reaching titles and financial benchmarks others have for them, they forego their Unique Ability and assume a role or career they’re “supposed” to do –– one that is true neither to their heart nor their inherent strengths.  Too often, people are conditioned from an early age whether by family, society or culture to fit in and follow others’ expectations rather than pursue their own aspirations.

 

At Lenox, we believe you can have it all. The Lenox Mindset is to grow, preserve and manage wealth in today's world starting with your strongest asset... you.  We help you discover your strengths and how you can put them to work to create and build wealth.  We know that wealth and happiness are simultaneously attainable. 

 

We’d love to tell you more about how we help to translate your personal strengths into financial strength.  It’s what we mean by FUND A LIFE YOU LOVE®. Give us a call or email us to schedule a personal, no-commitment consultation.

Someone’s growth to wealth creation is based on… did you identify your gifts? ... did you identify who should receive your gifts? ... and are you getting paid fairly for your gifts? We get this right; we can change anyone’s life
— John Lame, CEO Lenox

At Lenox, we work with clients to help guide them through every aspect of their financial life –– translating personal strengths to financial strength, setting financial priorities, optimizing income, eliminating debt, funding education, retirement planning, and working through financial hurdles –– the entire realm of wealth creation, wealth building, and wealth management.  We start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.

Adult Kids and Aging Parents: When Roles Reverse

Adult Kids and Aging Parents: When Roles Reverse

Adult Kids and Aging Parents: When Roles Reverse

The seminar that will move you to tackle this touchy topic.

 

Recently, we overheard a man tell his high-school-age son, “The people who love you most want you to be ready and prepared for the rest of your life.” The advice couldn’t have been better.  It was concise, loving and on point.  The man may be delivering that same advice again, but next time when speaking to his parents, versus his teenager. 

 

From our experience, most aging parents declare they don’t want to become a burden on their adult kids, chances are they will.  Getting older equates to needing help in one way or another. One way to minimize the chances of one generation being a burden on the other is for families –- the aging parents and their adult kids –- to work together to plan ahead. 

 

While that sounds good, all too many families deal with the challenges that come in later life is through procrastination and inertia. Adult kids don’t want to usurp their parents’ autonomy any more than the parents want to give it up.  The result is that nothing gets discussed or decided until it becomes urgent to do so. This approach, though entirely understandable, can be devastating to a family financially, psychologically, logistically, and emotionally.

 

It was quite unnerving to see how quickly the winds of our parent care crisis morphed into a full-blown tornado, sucking in family members and family resources with relative ease.
— “The Other Talk”, Tim Prosch

 

What needs to happen is a planned and anticipated role reversal in which adult kids gradually take over some or all of the decision making, financial affairs, and day-to-day responsibilities of their parents.  All of this requires thought and discussion.  Ideally, decisions as to who does what, who gets what, what goes where, and the timing around all of it are discussed while everyone is mentally coherent and physically able to participate in the discussion. 

 

Planning ahead also allows aging parents to weigh in on where one or both want to live if failing health forbids staying in their home, how they wish financial assets and/or debts to be handled, what to do if they outlive their savings, their desired funeral arrangements, and on and on.  It’s not only unfair to leave these decisions to the adult kids; it also can be overwhelming.  Without the wishes of parents known, families can be torn apart by adult kids having all of this on their plate.  Worse yet is the potential squabbling and family relationships ruined over the distribution of money and possessions.

 

Making the gradual role reversal easier is entirely doable.  All it takes is families having the right attitude, going about the decision making ahead of time, and following a clear step-by-step strategy to take charge of things in the later years of life.

 

At Lenox, we work closely with families who are facing these kinds of situations.  Our special program called “Embrace” helps guide our senior clients and their adult kids through the process of thinking about, establishing and facilitating an end-of-life plan that is in everyone’s best interest. 

 

Our goal is to equip families with a template from which to discuss, explore, and think about end-of-life issues, empower adult kids to make the tough decisions if and when their parents can’t, and set an example for the adult kids to share with their own kids someday.

 

Want to learn more about Embrace and how you can take charge of your later life? Mark your calendar for The Other Talk to be held on Thursday, September 27 at the Kenwood Towers, 8044 Montgomery Road, 45236. This information-rich seminar conducted by Anne Burney, Lenox Senior Vice-President, CSA  (Certified Senior Advisor) will be the go-to event for finding out how to tackle the touchy topic of role reversal with clarity and the right tone to support every member of your family. A complimentary lunch will be provided.

 

 

Take steps now to show the people you love most how to be ready and prepared for the rest of your life.

 

At Lenox, we work with families to help guide them in every aspect of their financial life –– from generational finances, to setting financial priorities, to eliminating debt, establishing budgets, career planning and coaching, funding education, retirement planning, and working through financial hurdles –– the entire realm of wealth creation, wealth building, and wealth management.  We start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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. Schedule a 15-minute call to see how we can help you. 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.

Back-to-School Finances for Your Kids

Back-to-School Finances for Your Kids

As the school year begins so do the tuition bills, costs of room and board, fees, dues, and endless other expenses. Read the 7 realities of back-to-school finances all parents and students should understand.

LENOX RECOMMENDS -- ARTICLES THAT CAUGHT OUR EYE / JULY 2018

LENOX RECOMMENDS -- ARTICLES THAT CAUGHT OUR EYE / JULY 2018

LENOX RECOMMENDS -- ARTICLES THAT CAUGHT OUR EYE / JULY 2018

 

SOCIETY

 

Primer on Universal Basic Income

 

How do we, as a country, deal with the income/opportunity gap?

Universal Basic Income is one of several ideas floating around for dealing with this.

 

 

INSPIRATIONAL

 

45 Motivational Quotes for Every Millennial Still Trying to Figure Life Out

 

As you look back, what are the things you wish someone would’ve told you before you started your career, got married, etc. Here are a few we could all benefit from!

 

 

BUSINESS

 

Amazon and Walmart are fighting it out as online grocers. But Kroger has its own business plan to grab a spot.

 

 

PERSONAL GROWTH

 

Checklist: 6 Clues to Identifying Your Unique Ability

 

What is your sweet spot? Are there times that you could do something all day long with SO much energy and other times your feet are stuck in concrete? Maybe you need to identify your Unique Ability.

 

 

ANOTHER POINT OF VIEW

 

The CEO and the Three Envelopes

 

When you take over as a new leader, whether for the company, a department, a project…..do you take charge or do you need to prepare your 3 Envelopes? A little learning here.

 

  

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 Book of the Month: Essentialism by Greg McKeown

Lenox Book of the Month: Essentialism by Greg McKeown


The Way of the Essentialist is about getting only the right things done - not "everything" done.  It is a systematic approach to deciding what is absolutely essential, then getting rid of everything that is not, so we can focus on the things that really matter.  

By being more selective and doing only what is Essential, the pursuit of less allows us to reclaim control of our own choices about where to spend our limitted time and energy – instead of giving others permission to choose for us.

Essentialism is whole new way of doing everything. A must-read for anyone  who wants to do less, but better, and declutter and organize their own their lives, Essentialism is here.

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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 Non-Profit of the Month: Down Syndrome Association of Cincinnati

Lenox Non-Profit of the Month: Down Syndrome Association of Cincinnati

Lenox Non-Profit of the Month: Down Syndrome Association of Cincinnati

 

The mission of the Down Syndrome Association of Greater Cincinnati is to empower individuals, educate families, enhance communities and together, celebrate the extraordinary lives of people with Down syndrome.

They EMPOWER individuals with Down syndrome by providing a variety of programs and resources that promote self-determination and self-advocacy as they make choices in life, work and relationships. The DSAGC guides families in navigating and coordinating the resources and services necessary at every step of development as they construct a fulfilling life for their child. This includes emotional support, information, education, programs and connections.

The DSAGC coordinates EMPOWERMENT CLASSES, which are small group programs that provide individuals with Down syndrome and their families opportunities to build important skills, while also connecting with others. A few of their programs include sign language, book clubs, physical therapy, cheerleading, music therapy, fitness, cooking, employment skills, healthy relationships and so much more.

Many families are overwhelmed by the potential challenges and complicated maze of information that is ahead of them. The DSAGC provides quality support and information through educationalprograms, networking opportunities and encouragement. These resources help families anticipate and navigate the next steps in their journey.

As individuals with Down syndrome become more integrated into our community, there is a greater need for public education and acceptance. The DSAGC cultivates relationships and builds awareness among healthcare professionals, teachers, community leaders, neighbors, legislators, employers and others so that anyone who influences the lives of individuals with Down syndrome will welcome them with fairness, enthusiasm and encouragement.

Their HEALTH INITIATIVES collaborate with medical professionals to provide accurate information on Down syndrome and related health issues to ensure families and caregivers receive the support and services they need. In addition to providing the current healthcare guidelines for Down syndrome, a key focus of this program is educating and coaching professionals on how to appropriately deliver a diagnosis of Down syndrome, either prenatally or post-birth. The DSAGC is also placing an increased focus on health issues related to aging and Alzheimer’s disease.

The DSAGC engages in ADVOCACYon behalf of children and adults with Down syndrome, their families and the Down syndrome community at large. This includes educating legislators, advocating for issues that positively affect the Down syndrome community, and involving members of the Down syndrome community in legislation and change. Recent significant victories include the passing of the federal ABLE Act and the Pro-Information Act in Ohio. Current focus areas include the ABLE to Work legislation, which will allow adults with disabilities to work without losing essential benefits; as well as ending discrimination on organ transplant waitlists for individuals with disabilities in Ohio.

Their EMPLOYMENT OUTREACH encourages businesses to hire adults with Down syndrome by being a catalyst for inclusive employment and workplace diversity. In addition to fostering employment skills in adults with Down syndrome, the DSAGC also helps businesses explore the value and benefits of hiring adults with Down syndrome. Some of the adults they serve are entrepreneurs and artists, and others work at law offices, banks, restaurants, grocery stores and other businesses.

Their EDUCATION OUTREACH efforts ensure teachers, staff, peers and families have the knowledge and resources to help students with Down syndrome receive the academic support and community inclusion necessary to succeed. This includes peer presentations, staff trainings, school district ambassadors, and more.

In addition to the many direct services they provide, the DSAGC is also honored to showcase and celebrate the achievements, contributions and individuality of people with Down syndrome.

The DSAGC coordinates numerous FAMILY EVENTS that create opportunities for social connections and networking. These events provide exciting and enjoyable activities for a wide range of interests and life stages at little to no cost. Signature events include the Winter Dance, Summer Picnic, Holiday Party and our largest event, the BUDDY WALK. Numerous smaller events throughout the year provide opportunities for additional connection.

The DSAGC also fosters connections among families through COMMUNITY GROUPS. Many families desire a connection with others who are on a similar journey. The DSAGC coordinates more than 15 groups based on geography, birth year or special interest. These groups offer support, connection and information - all while creating warm, welcoming and empathetic environments in smaller networks. They allow families to share common interests, concerns, challenges and information. Led by volunteers, these groups are a vital extension of the DSAGC and allow us to effectively meet the varied needs throughout our 12-county service area.

The DSAGC also coordinates SOCIAL CLUBS for adults with Down syndrome. These groups help foster friendships, leadership skills, independence and community engagement.

The NATIONAL DOWN SYNDROME ADOPTION NETWORK (NDSAN), a program of the DSAGC, provides information to birth families who may be seeking alternatives to parenting as they prepare for the arrival of their child. Making an adoption plan for a child with Down syndrome is a loving choice and can be the right decision for some families. The program’s mission is to ensure that every child born with Down syndrome has the opportunity to grow up in a loving family. The NDSAN also provides support to parents who wish to adopt a child with Down syndrome. Although the NDSAN operates independently, the DSAGC provides a great deal of logistical, advisory and financial support to the NDSAN.

Want to learn more? Visit www.dsagc.com.

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What I'd Tell My 25-Year-Old Self About Money

What I'd Tell My 25-Year-Old Self About Money

What I’d Tell My 25-Year-Old Self About Money

The answers might surprise you.

 

When we’re young, we don’t want to hear it.  When we’re older, we can’t wait to give it.  Advice, that is.  Speaking of which, one of our favorite questions to ask friends, clients and our own team of Lenox financial advisors is, “what would you tell your 25-year-old self about money.”  Below are recent responses.  Some you might expect.  Some might surprise you.

 

I would tell my younger self...

 

“Start saving earlier.  I wish someone had told me to do so.  Nobody really talked about it.  And, we didn’t have SEPS, IRAs or 401(k) plans when I was 25.”

We’ve said it before and we’ll say it again, if you don’t know about the compounding of money (aka the time/value of money) learn about it and put it to your advantage sooner rather than later. Starting in your late 20s to routinely stick away even a small percentage of your monthly income will amount to a significant amount of money when you’re ready to retire.

 

“Don’t rely on the government to fund your retirement.”

For years, the federal government has warned that the Social Security trust fund will run out of money by year 2034 or thereabouts, meaning that annual benefits will not be available to future generations or not in the amounts people are expecting to receive.  Workers currently ages 37 to 55, might have the most to lose while lawmakers try to figure out how to handle the insolvency of the Social Security program.  Today’s millennials will face the same uncertainty unless policy changes are put into effect that will improve the picture by the time they plan to retire.  To be safe, do not count on Social Security when planning for retirement.

 

“Maximize your 401(k) contributions.”

If your employer offers a 401(k) plan, enroll in it! Many employers offer matches if you contribute to it – this is FREE MONEY, take it.  When you consider the power of free money and compounding returns at age 25, it will cost you substantially less to save now for retirement, vs if you wait until you’re older. 

 

“Make sure you are financially self-sufficient at every age, separate from your spouse.”

One thing you realize as you get older is that life can change in a matter of seconds.  Illness, an accident, divorce, loss of your job, a family hardship –– any or all of these events can alter life in ways we never imagine when we’re young, healthy, and things are going well.  However, when life gets turned upside down for whatever the reason, it is all the more important to understand your personal finances, know where important documents are located, have a relationship with a trusted financial advisor you can call for guidance and, above all else, be prepared to take financial charge of your future.

 

“Make yourself a priority.  Don’t wait until you’re old to enjoy life or to do things for yourself.”

This person followed with, “On the other hand, don’t be stupid either... don’t blow your income or waste money.”  It gets back to your finances –– like life –– being a constant balance between being responsible and enjoying the moment at hand... having fun without having regrets... being both pragmatic and playful.  While no one guarantees us tomorrow, we also may live to be 100.  Best we plan for both scenarios.

 

“Don’t spend your life trying to keep up with anyone else.”

It can be mighty tempting in our 20s to crave our friend’s awesome car, or to spend our last dollar traveling the world like our co-worker, or to buy more house than we need or can afford because the neighborhood we covet is the place to be.  Warning!  A habit of trying to “keep up with the Jones” can be financially devastating.  Envy is not only unattractive; it can be expensive.  Better to be yourself, live life by your own rules, and within your means.

 

“Take care of your health.  Money doesn’t mean anything if you don’t have good health.”

Make decisions in your 20s that will help to ensure your healthiest life for decades to come.  No one is suggesting you need to be perfect, but a healthy lifestyle –– not smoking, moderate drinking, regular exercise, a healthy diet, a curious mind, strong values, time with family and friends –– will pay off time and again in your personal life, career advancement and financial life.

 

“Don’t worry so much about money.”

We heard this idea expressed in a number of ways.  “No need to obsess and fret constantly –– everything will work out okay.”  “Life is going to unfold as it will. As long as you’re doing your best, you’re doing all you can.”  “You don’t need to get everything you want right away; you have your whole life to save up for things.” 

 

Have some advice you’d tell your 25-year-old self?  We’d love to hear what you have to say.  Send us your thoughts at info@lenoxwealth.com and we’ll post them in a future blog. 

 

 

At Lenox, we enjoy and work closely with Millennials, single or married, to help guide them in every aspect of their financial life –– from setting financial priorities, to eliminating debt, establishing budgets, career planning and coaching, funding education, retirement planning, and working through financial hurdles –– the entire realm of wealth creation, wealth building, and wealth management.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.

Setting Financial Priorities When Everything Is Important

Setting Financial Priorities When Everything Is Important

Setting Financial Priorities When Everything Is Important

Where to start and why.

 

Let’s say you’re in your 20s or 30s, and you’re trying to figure out what you should be saving for first, why, and how you’re going to do it.  If you’re like most people your age, you’re looking at a combination of paying off student loans, saving for retirement, wanting to buy your first home or a larger one, possibly going back to school for another degree, moving and changing careers, or simply having fun. Throw kids into the mix and you need to save for their education, plus cover the overall costs of having a family.

 

With all of this on your financial plate, it’s easy to throw up your arms and to not want to think about any of it.  That’s the worst thing you can do.  Instead, realize life is a balancing act.  Then, sit down and set your financial priorities.  You can do it.  Our step-by-step guide below can help you get started.  Most important for you to remember is that you have an enormous advantage at this stage of life your age!  Even the smallest of actions you take now, then gradually increase and maintain over time can pay off royally for you.

 

A simple guide for where to start when it comes to setting financial priorities.

 

1.     List the expenses you will need (or will want) to cover over a lifetime.

Start with those we share above and then add others that matter to you personally, such as travel, starting your own business, helping family members financially, making charitable donations, etc.  You need a plan.  Putting it in writing helps to make it real.

 

2.     Make getting rid of debt your first priority.

Whether it’s credit card debt, student loans, or loans from family or friends hanging over your head, do your best to get rid of it at this stage of life.  Making monthly debt payments for years on end not only hinders your ability to save for anything else, but can prevent you from getting ahead financially in any number of ways.  For instance, debt load can affect your credit rating, make it harder to get a loan for necessities, and limit your capacity to save or invest.  Some people push debt so far down the road that they are still paying it off in their boomer years which, in turn, affects their ability to retire. NOTE:  While paying off debt, you’ll need to discipline yourself to live within your means and not incur additional debt.

 

3.     Next, build an emergency fund.

Because you never know when you might lose your job, get sick or hurt, or suddenly need money for things you can’t begin to imagine right now, you need to put money aside in an emergency fund.  The goal should be to build a fund of three to six months’ worth of living expenses.  And, make the fund strictly off limits for anything but an emergency.

 

4.     Begin saving for retirement.

It’s hard to think 30 to 40 years ahead, especially when there are so many things you’d love to spend money on today and tomorrow.  However, in your 20s and 30s is when you have time on your side.  If you don’t know about the compounding of money –- also known as the time/value of money –– look it up and see for yourself how putting away a small percentage of your income now is one of the most painless ways to grow your retirement nest egg. 

 

Experts recommend saving at least 15% of your income for retirement.  To help you meet that goal, take advantage of your employer’s 401(k) match or contribution.  For example, if your company contributes 4%, you only need to save 11% on your own.  Also, look beyond a bank savings account for savings vehicles that pay higher interest rates.

 

5.     Make a wise home purchase.

There’s a saying that “you make money when you buy a house, not when you sell it.”  In other words, use your head not your heart when purchasing a home.  For instance, buy in locations where you will be most likely able to sell your home with ease, be it on your timing or unexpectedly.  If you’re the handy type, buy a fixer-upper and reap the benefits at the front end by not paying for outside services and at the back end by enjoying a greater profit.

 

If you have children, consider buying where a good education can be found in public schools or via affordable private school options.  One young couple paid more than they had planned for their home, but with the public-school system so strong where they purchased, they will save more than $500,000 over the course of K-12 for their three children versus paying tuition at private schools.

 

6.     Start a college-savings plan for your kids.

With your debt payoff plan in place, emergency fund established, and retirement savings launched, it’s time to put money aside for college.  Maybe you’ve already started a college savings plan and, if so, kudos to you. If not, soaring college costs can appear overwhelming, so don’t hesitate to contact a financial advisor to discuss your best options.  One idea to discuss is having a 529 Plan, and the appeal the Plans have for grandparents as a means to contribute to their grandkids’ education and enjoy tax benefits, as well.

 

Look at setting financial priorities not as a burden, but as a path to financial peace of mind.  Then, get started.  It’s easier than you think.  And, the more you follow your plan, the easier it becomes to keep following it.  Discipline becomes a habit.  Success builds success.

 

 

At Lenox, we enjoy and work closely with clients in their 20s and 30s, single or married, to help guide them in every aspect of their financial life –– from setting financial priorities, to eliminating debt, establishing budgets, career planning and coaching, funding education, retirement planning, and working through financial hurdles –– the entire realm of wealth creation, wealth building, and wealth management.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.

LENOX RECOMMENDS –– ARTICLES THAT CAUGHT OUR EYE / JUNE 2018

LENOX RECOMMENDS –– ARTICLES THAT CAUGHT OUR EYE / JUNE 2018

LENOX RECOMMENDS –– ARTICLES THAT CAUGHT OUR EYE / JUNE 2018

 

ENTREPRENEURSHIP

 

Walking Away Money

 

Ramona had a dream. She mostly enjoyed her current position, but wanted to write. She loved to write! And so, she and her husband came up with a plan…

 

 

MINDSET

 

Why You Should Stop Being So Hard on Yourself

 

If your friends said things to you that you say to yourself, would you be friends? We all could learn a little self-compassion for ourselves. Self-compassion- the new word for today!

 

 

PERSONAL GROWTH

 

6 Ways to Act on Your Ambition

 

“Success isn’t in the having. Success is in the doing” is just one of the enlightening statements in the following article. How we can push ourselves to succeed…is it through learning? Brainstorming? Take a read.

 

 

CHILDREN AND FINANCE

 

This Chart Should Convince Every Teen to Start Saving for Retirement

 

When should we start saving money? When we have our first job out of school?….or maybe, we should start sooner. The difference several years can make in our savings.

 

 

FINANCIAL PLANNING

 

6 Key Value Propositions a Good Financial Planner Can Provide For Clients Seeking A Better “Return On Life”

 

What makes a good Financial Planner? The belief is that a financial planner is all about spreadsheets. But what about what we WANT out of life? Perhaps an advisor can help with that too!

 

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 Gives Back to Matthew 25 Ministries

LENOX Gives Back to Matthew 25 Ministries

LENOX Gives Back to Matthew 25 Ministries

Last Friday, Lenox employees took an afternoon to volunteer their time at Matthew 25 Ministries. After a brief tour of the facilities and learning about their mission and the gap they fill, we got to work!

Several of us worked in the paint department. We salvaged old, usable paint to be mixed with other usable paint, ultimately filling 5 gallon buckets to be shipped to various destinations around the world. Incredibly inventive way to reuse unused paint!

The others took to sorting old pill bottles to be reused out in the field.

Everyone left feeling energized by the great work Matthew 25 Ministries does. 

Thank you Matthew 25 Ministries!

http://m25m.org

 

 

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How to Bunch Deductions and Save Money

How to Bunch Deductions and Save Money

How to Bunch Deductions and Save Money

Check out Betty’s blockbuster savings!

 

As part of the new tax bill introduced in 2017, the Federal government doubled the standard deduction from $12,000 to $24,000, and an estimated 30 million US households lost the ability to itemize deductions like charitable contributions, property taxes, and mortgage interest.

For example, our friend “Betty” has $20,000 in itemized deductions each year ($5,000 in property taxes, $5,000 in charitable, $10,000 in mortgage deductions).

 

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Because the new standard deduction is $24,000, it no longer makes sense for her to itemize each year. She can just take the higher standard deduction – right?

Well, if Betty plans her taxes a little more carefully, there is an opportunity to use BOTH the standard deduction and the itemized deduction. As an example, in some cases, Betty can choose to pay her property taxes early/late and control what year in which they are paid. She also can decide to lump her charitable donations in every other year versus every year.

 

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The benefit of doing this, she is able to increase her itemized deductions by $12,000 over four years or roughly $3,000/year. This could save her anywhere between $400 and $1,200 per year in taxes just by being smart about how she uses the itemized deduction.

If you’re in a similar situation as Betty, let’s talk.  At Lenox, we pride ourselves on helping people make smart money moves at every opportunity.

 

At Lenox, we work closely with people of all ages to help guide you in every aspect of your financial life –– from wealth creation, wealth building and wealth management, to career planning and coaching, funds for education, retirement planning, working through financial hurdles, and more.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

If you’re ready to discuss financial, business, career 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 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.

You. Your Spouse. Your Budget.

You. Your Spouse. Your Budget.

You. Your Spouse. Your Budget.

7 strategies for marital and financial bliss

 

Anyone married for any length of time has likely noticed that marital bliss doesn’t always equal financial bliss.  Experts will tell you that money –– what to spend it on and how much –– is a top source of contention for married couples, especially newlyweds. 

What happens after the walk down the aisle?  In a nutshell, sharing, not only of income and other monies, but also your philosophical view when it comes to budgeting, saving and spending.

Simply put, the financial priorities and money habits you had as singles may have been quite different of one another.  It wasn’t a big deal when you were managing your own money, but now that you’re married and planning your financial future as a couple, getting on the same page in terms of saving, spending and budgeting can get a bit dicey at times.

 

Here are 7 strategies for more blissful budgeting and a happier financial marriage.

 

1.    Together, you and your spouse make one list of your monthly financial obligations.

These are the expenses you have to pay every month, such as your mortgage/rent payment, food, utilities, condo or other fees, car payments, insurance, taxes, healthcare, emergency monies, and savings.  Write them down to the exact dollar amount or as close to it as possible.  These take priority. Budget for these first and what’s left can be used toward #2 and #3 below.

 

2.    Make a shared financial priority list.

Here’s where you write down all of the things you’d like to have as a couple, both in the near and long term.  Included here might be your first or a larger home, new furniture, starting a family and associated costs (baby gear to college savings and everything in between), a dream trip, a second car, home improvements, etc.  To make these things become a reality, you’ll want to set aside at least some money each month and not touch it for anything non-essential.

 

3.    Individually, you and your spouse make separate lists of your personal wants.

Your lists might include anything from clothing and shoes, to artwork, hobbies, dining out, tickets to concerts or sporting events, travel, gifts, etc.  After covering your monthly financial obligations, consider putting aside a set amount of money for each of you to spend in any way you desire for items on your own lists.  Think of it as an adult allowance.  No questions asked.

 

4.    Outsmart your own budget.

If you’re not already a savvy shopper, become one.  It can be fun.  If you’ve always bought the name or luxury brand, consider trying the less costly version.  This applies to everything from wine to groceries, T-shirts to socks, bedding to towels, makeup to shoes, cleaning products to lawn gear, etc.  Most people are surprised at what they can save without sacrificing quality.  The old saying is true, “a penny saved is a penny earned”.

 

5.    Play the “what if” game.

Some young couples can get very creative when it comes to trimming costs and stretching their budget.  It usually involves a simple change of habit.  One couple we know plays the “what if” game.  For example, “what if instead of eating out the next month or two, we eat at home and not only save money but also make it fun by each of us taking turns preparing a new dish.”  Another example, “what if instead of buying any new, non-essential clothing items for the next three months, we shop our closets and push our fashion sense with what we already own.” (This latter example also led to a great closet purge and the sharing of items with people in need.)

 

6.    Be a bit crazy now and then.

Without blowing your budget, allow yourselves to spend money now and then on something you don’t need but would love to have.  A little “retail therapy” can go a long way, especially in celebration of a birthday, anniversary, special achievement, new job, etc.

 

7.    Ask us about our Lenox MONEY MIND™ Analyzer

All of us have a Money Mind®.   It’s determined by how we think and feel about money which, in turn, affects every financial decision we make in both our personal and work life.  There’s no getting around these inherent feelings we hold inside.  Instead, it’s critical that we understand and acknowledge them.  Doing so couldn’t be easier or more engaging thanks to our unique Money Mind® Analyzer tool.  In just minutes, you’ll gain insights you and your spouse can use for a lifetime.

Bottom line, the most important benefits of budgeting are learning what matters to each of you when it comes to money, and being aware of where your money is going each month.  This understanding alone can help you and your spouse to avoid making impulse purchases and have a happier financial marriage.

 

At Lenox, we work closely with people of all ages to help guide you in every aspect of your financial life –– from wealth creation, wealth building and wealth management, to budgeting and money management, career planning and coaching, funds for education, retirement planning, working through financial hurdles, and more.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.

Snowbird Alert - Thinking About Retiring to Florida?

Snowbird Alert - Thinking About Retiring to Florida?

Snowbird Alert

Thinking about retiring to Florida?  Now may be the right time.

 

With many Cincinnati-based companies trading at 5-year lows, now could be a good time to look at Florida residency.  Here’s why...

It used to be that many corporate executives would work for 30 years in Cincinnati, retire to Florida, and in doing so, be able to avoid paying the dreaded Ohio state tax on their retirement plans and stock options. It was a huge planning opportunity, which could often save them several hundred thousand dollars in state taxes.

About 10 years ago, Ohio decided to rewrite the rules. They argued that if you earned your stock option in Ohio, then you should pay Ohio tax on the option. They then would calculate the Ohio tax due as the difference between the grant price of the stock option and the fair market value on the day you left Ohio.

So as an example, let’s say John Doe worked for P&G in Cincinnati for 30 years and then moved to Florida on January 1, 2018. Based on the stock price when he left, he would have “locked in” a stock price of $92. This means his next set of options due February 2019 would have Ohio tax due based on the difference of his $48 grant price and $92 (the price when he left Ohio), or $44.

Since January, P&G’s stock price has dropped to the low 70’s. Meaning if John Doe had decided to wait and move at the end of May, he could have locked in a price around $74. So, the state tax due on that same 2019 option would be the difference of his $48 grant price and $74, or $18.

In this case, the difference between January 1 and May 31 would save John Doe $26 in taxable income or almost $1.30 per each share in state taxes. Assuming he has a grant of 15,000 shares, this saves him almost $20,000 – just for this stock option! Imagine the impact it could have over his other 150,000 option shares…

So, if you have employer stock options and are seriously looking at retiring in Florida, you should run the numbers and see if this could make sense for you. Lenox is always happy to take a look and provide a second opinion.

 

At Lenox, we work closely with people of all ages to help guide you in every aspect of your financial life –– from wealth creation, wealth building and wealth management, to career planning and coaching, funds for education, retirement planning, working through financial hurdles, and more.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.

Lenox Non-Profit of the Month: Starfire

Lenox Non-Profit of the Month: Starfire

Lenox Non-Profit of the Month: Starfire

Starfire has been working to build better lives for people with developmental disabilities since 1993. Their mission is to change the condition of social isolation that people with developmental disabilities face by connecting them to citizens who share their common interests and passions through their core work of community building. 

People with disabilities make up the largest minority in the country, though they are often left out of community life and go unseen by greater society. People with developmental disabilities are often segregated into separate programs and housing where their social connections are comprised primarily of paid staff and other people with developmental disabilities. Systemic congregation over the years has led to social isolation, resulting in feelings of loneliness and stress.

Starfire’s work happens directly one-on-one with people with developmental disabilities. Through their support, they deepen and build relationships between people with developmental disabilities and unpaid community members without disabilities in order to promote well-being and increased quality of life in our communities over time. In this way, Starfire builds greater social inclusion for people by broadening social networks. This leads to discovering unique volunteer and employment opportunities, membership in established community groups or by starting a new community initiative with ordinary citizens (community garden, hiking club, etc.)

Their success is seen in both their qualitative and quantitative outcomes:  

  • Watch Starfire’s stories
  • 89% of people with developmental disabilities served by Starfire attain a valued social role (volunteer position, complete a project, obtain paid employment) after ~150 hours in their core 1:1 model
  • 92% of the jobs attained by people with developmental disabilities served by Starfire come as a result of social connections made through their 1:1 work. Currently, 21 people with developmental disabilities are employed with competitive wages in 25 different Cincinnati businesses
  • 92% of people with developmental disabilities see an increase in their social network after 6 months in our program. 
  • 95% of people with developmental disabilities served by Starfire maintain previous community relationships after 6 months.
  • 86% of families of people with DD are active in building their family member with DD’s social networks. 

Starfire is dedicated to making a difference in people with developmental disabilities’ lives locally. They also scale their efforts by training outside disability organizations interested in making a transformational shift in their services and approach. 

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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.

June Lenox Book of the Month: 10% Happier

June Lenox Book of the Month: 10% Happier

In 10% Happier, Dan Harris takes an unexpected, funny, and skeptical journey through the different  worlds of spirituality and self-help, and discovers a way to get happier that is achievable.

A nonbeliever all his life, he found himself on a strange adventure, involving a  pastor, a self-help guru, and a group of brain scientists. Eventually, Harris realized that the source of his problems was the insatiable voice in his head, which had been his greatest cheerleader and toughest opponenet.

We all have a voice in our head. Harris stumbled upon an effective way to deal with it- meditation- something he always assumed to be either impossible or useless.

10% Happier takes us on a ride, leaving  us with a takeaway that could actually change our lives.

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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.

Protection | Which of 3 Money Minds Are You?

Protection | Which of 3 Money Minds Are You?

Which of 3 Money Minds® are YOU?

Meet Carol.  She’s a PROTECTION Money Mind.

 

If you haven’t already done so, click here for our MONEY MIND® Analyzer –- the quick online exercise that helps you take control of your financial future.

 

All of us have a Money Mind®.   It’s determined by how we think and feel about money which, in turn, affects every financial decision we make in both our personal and work life.  There’s no getting around these inherent feelings we hold inside.  Instead, it’s critical that we understand and acknowledge them.  Doing so couldn’t be easier or more engaging thanks to our unique Money Mind® Analyzer tool.  In just minutes, you’ll gain insights you can use for a lifetime. 

 

Simply answer a few quick questions, and our Money Mind® Analyzer tells you what your primary influence in life is and, thus, your dominant Money Mind –– commitment, protection, or happiness.

 

Carol took the Money Mind® Analyzer and found out she’s a “Protection” Money Mind.

Here’s the report Carol received.  Check it out. Think of all the ways she can use this information to make financial decisions, to understand her priorities about spending, saving and risk taking, and to better align her financial attitudes with her spouse, family members, and business associates. 

 

 

It’s your turn. Take the Money Mind® Analyzer, and see what you’ll learn about you.

 

The innovative Money Mind® Analyzer is one of many powerful tools that we are excited to bring you as part of our Financial Life (FinLife) experience.  Don’t miss this no-cost opportunity to gain valuable information you will reference again and again.

 

At Lenox, we work closely with people of all ages to help guide you in every aspect of your financial life –– from understanding your attitudes about money, to wealth creation, wealth building, wealth management, career planning and coaching, funds for education, retirement planning, working through financial hurdles, and more.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

If you’re ready to discuss financial, business, career 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 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.

Women & Money | 5 Inherent Habits to Celebrate

Women & Money | 5 Inherent Habits to Celebrate

At Lenox, we applaud women and their financial thought processes.  We encourage women to feel confident in what makes their thinking different than that of men, and to appreciate and continue to practice the highly commendable money habits that make their opinion so valuable.

Happiness | Which of 3 Money Minds® are YOU?

Happiness | Which of 3 Money Minds® are YOU?

Happiness | Which of 3 Money Minds® are YOU?

Meet Jack.  He’s a HAPPINESS Money Mind.

 

If you haven’t already done so, click here for our MONEY MIND® Analyzer –- the quick online exercise that helps you take control of your financial future.

 

All of us have a Money Mind®.   It’s determined by how we think and feel about money which, in turn, affects every financial decision we make in both our personal and work life.  There’s no getting around these inherent feelings we hold inside.  Instead, it’s critical that we understand and acknowledge them.  Doing so couldn’t be easier or more engaging thanks to our unique Money Mind® Analyzer tool.  In just minutes, you’ll gain insights you can use for a lifetime. 

 

Simply answer a few quick questions, and our Money Mind® Analyzer tells you what your primary influence in life is and, thus, your dominant Money Mind –– commitment, protection, or happiness.

 

Jack took the Money Mind® Analyzer and found out he’s a “Happiness” Money Mind.

Here’s the report Jack received.  Check it out. Think of all the ways he can use this information to make financial decisions, to understand his priorities about spending, saving and risk taking, and to better align his financial attitudes with his spouse, family members, and business associates. 

 

It’s your turn.  Take the Money Mind® Analyzer, and see what you’ll learn about you.

 

The innovative Money Mind® Analyzer is one of many powerful tools that we are excited to bring you as part of our Financial Life (FinLife) experience.  Don’t miss this no-cost opportunity to gain valuable information you will reference again and again.

 

At Lenox, we work closely with people of all ages to help guide you in every aspect of your financial life –– from understanding your attitudes about money, to wealth creation, wealth building, wealth management, career planning and coaching, funds for education, retirement planning, working through financial hurdles, and more.  In every instance, we start with you, not your portfolio to help you FUND A LIFE YOU LOVE™.

 

If you’re ready to discuss financial, business, career 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 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.