Lenox Book of the Month: Thinking, Fast and Slow

Lenox Book of the Month: Thinking, Fast and Slow

Lenox Book of the Month: Thinking, Fast and Slow

by Daniel Kahneman

In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation―each of these can be understood only by knowing how the two systems shape our judgments and decisions.

Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives―and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.

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How to Enroll in Medicare: The importance of signing-up at age 65

How to Enroll in Medicare: The importance of signing-up at age 65

How to Enroll in Medicare:
The importance of signing-up
at age 65

As people near their 65th birthday, signing up for Medicare is usually low on their list of priorities. This often gets pushed to the back burner because people are unsure of how the enrollment process works.

Here is some information and resources to help with the Medicare enrollment process:

If you are currently receiving Social Security benefits or Railroad Retirement benefits, you will automatically be enrolled in Medicare.

If you are not currently receiving benefits, you want to enroll in Medicare during the initial enrollment period, which begins 3 months before your 65th birthday, and ends 3 months after your birthday. 

Leaving employer coverage will NOT automatically enroll you in Medicare after your group coverage ends. You must file. The date you file for Medicare will impact the date that your coverage starts. Applying for Medicare before your 65th birthday will prevent delays or gaps in coverage.

If you are still working, Medicare will coordinate with your employer group coverage. You have the option of enrolling in Part B or delaying it until you leave the group coverage.  It can save you money to wait until after you retire to enroll in Part B.

How to Enroll:

The easiest way to apply for Medicare is online.  If you prefer, you can also apply by phone or in person.

  •  In order to apply on-line, complete the application at  www.ssa.gov/benefits/medicare

  •  To apply by phone, call 1-(800)772-1213

  •  You can also apply in-person at your local social security office.

Lenox Book of the Month: The Five Dysfunctions of a Team: A Leadership Fable

Lenox Book of the Month: The Five Dysfunctions of a Team: A Leadership Fable

Lenox Book of the Month:
The Five Dysfunctions of a Team:
A Leadership Fable

by Patrick Lencioni

In The Five Dysfunctions of a Team Patrick Lencioni once again offers a leadership fable that is as enthralling and instructive as his first two best-selling books, The Five Temptations of a CEO and The Four Obsessions of an Extraordinary Executive. This time, he turns his keen intellect and storytelling power to the fascinating, complex world of teams.

Kathryn Petersen, Decision Tech's CEO, faces the ultimate leadership crisis: Uniting a team in such disarray that it threatens to bring down the entire company. Will she succeed? Will she be fired? Will the company fail? Lencioni's utterly gripping tale serves as a timeless reminder that leadership requires as much courage as it does insight.

Throughout the story, Lencioni reveals the five dysfunctions which go to the very heart of why teams even the best ones-often struggle. He outlines a powerful model and actionable steps that can be used to overcome these common hurdles and build a cohesive, effective team. Just as with his other books, Lencioni has written a compelling fable with a powerful yet deceptively simple message for all those who strive to be exceptional team leaders.

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Lenox Non-Profit of the Month: OCEAN

Lenox Non-Profit of the Month: OCEAN

Lenox Non-Profit of the Month: OCEAN


More than five years ago, a group of entrepreneurs in Cincinnati began dreaming about what it would look like to foster a community founded on the belief that the call to be an entrepreneur is a noble and equally difficult road to walk. Your idea could change the world, but you might feel alone in the world. Your investors might love you, but your kids might resent you. You might throw your whole life into your project and feel like you lack any purpose.


What if there was a better way? What if the modern entrepreneur’s journey could be informed key lessons from the Christian faith and life of Jesus? What if community could overcome the isolation?


The result of that dream is OCEAN. Through their high-tech accelerator, national conference, and variety of equipping programs for entrepreneurs, this seed of an idea has blossomed into a faith-based eco-system designed to equip entrepreneurs to bravely step out and impact the world. 


OCEAN has the vision to ensure every entrepreneur has access to tools, resources, and community that will holistically equip them to bravely step out and positively impact the world by doing the work they love.


OCEAN’s mission is to increase the awareness of God in the marketplace by building into entrepreneurs. We know entrepreneurs are creating a culture with each new venture and every job created. Their hope is for OCEAN alumni to create cultures that are rooted in a redemptive story and transformative to communities, cities, and industries.

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OCEAN has a slew of programs and opportunities to get plugged in and connect with like-minded individuals who are on a pursuit to find ways to incorporate their faith into their work and connect Sunday to Monday. These include, but aren’t limited to:

  • EVENTS - Public events designed to inspire and engage while also connecting entrepreneurs. Free community events and paid workshop programs available year-round.

  • GENESIS - 9-week boot camp plus 6 months of small group support. Focuses on mission clarity, idea validation, personal gifts, building a team, financials, impact/culture, and growth. Available 2-3 times per year.

  • ACCELERATOR - Intense 4 months of daily training and mentoring. Starts with a weekend retreat on a spiritual journey, mission, and personal gifts. Focus is the problem and product validation, sustainability, leadership model, building a team, revenue plan, cultural impact, and capital raising. Available each Spring. Applications open August-November.

  • MASTER SERIES WORKSHOPS - For small businesses and start-ups. Focuses on cutting-edge topics. Get in-depth knowledge, tools, and a digital playbook to help grow and manage your small business and startup. Master Series Workshops are conducted monthly by leading Subject Matter Experts.

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Want to get involved at OCEAN Programs?

ATTEND OCEAN CONFERENCE 2019:  

OCEAN Conference is a two-day experience that helps you explore how to be a leader of purpose and passion.

Gather with entrepreneurs, business owners, creatives, and more to gain insight, wisdom, and practical tools to equip you along your journey.

Visit our website for more information: OceanConference.org

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VOLUNTEER:

Check out our opportunities to volunteer with OCEAN!

Scan the QR code to see when we have opportunities and what roles we have available.

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MENTOR:

Interested in becoming a mentor for our Accelerator and other community members?  Email info@oceanprograms.com and a member of our team will reach out with next steps!


DONATE:

Have a heart to contribute to OCEAN’s mission but don’t necessarily have the time?  OCEAN is a not-for-profit organization that runs on the generosity of investors and our community - any and all donations are greatly appreciated and put to good use equipping entrepreneurs and founders to bravely step out.  Scan the QR code to be generous now.

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BRING OCEAN TO YOUR CITY:

Interested in bringing some facet of OCEAN to your city?  Our Small Business Training?  High Tech Accelerator? Community Groups & Events?  Email Luke Dooley, OCEAN’s President, at info@oceanprograms.com to learn more and set up a call or in-person meeting.

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Equifax – Take the Money and Run?  How to Approach the Mass Data Breach

Equifax – Take the Money and Run? How to Approach the Mass Data Breach

Equifax – Take the Money and Run?

How to Approach the Mass Data Breach

Back in September of 2017, Equifax, one of the credit reporting agencies, experienced a data breach that impacted the personal information of nearly 147 million people. Consumers have pursued class action lawsuits against Equifax, while Equifax denies any wrongdoing.

Below are some actions you may want to consider:

1.       Determine if you are a class member

You will want to confirm if you are a class member. To do so, you can go to the bottom of this website www.EquifaxBreachSettlement.com and click the "Find Out if Your Information Was Impacted" button or call 1-833-759-2982.

 

2.       Complete the Claim Process Start the Claim Process and Complete Your Information

Yes, the process requires you to provide information to a firm who had a data breach. However, Equifax is acting under higher scrutiny.

 

3.       Select if you want Credit Monitoring or a Cash Payment

The free credit monitoring includes at least four years of three-bureau credit monitoring, offered through Experian. You can also get up to six more years of free one-bureau credit monitoring through Equifax.

 If you already have credit monitoring services that will continue for at least 6 more months, you may be eligible for a cash payment of up to $125. The $125 you are eligible to receive may be less depending on the number of claims that are filed.

 

4.       Submit a claim for any losses or reimbursement

If you spent time or money dealing with an identify theft issue that happened after the Equifax breach occurred, you can file a claim and potentially get compensated up to $20,000 per person.  You can be reimbursed for the following:

  • Losses from unauthorized charges on any of your credit accounts

  • Cost to freeze or unfreeze your credit report

  • Cost of credit monitoring

  • Fees paid to professionals to resolve your Identity theft issues

  • Fees use to resolve the identity theft issues, such as notary fees or document shipping fees

 

5.       How to Protect against future Identity Theft

Identity theft is a quickly growing crime which can affect your financial situation.  We recommend you talk to your financial advisor during your next meeting to discuss if you should consider freezing your credit, subscribing to an identity theft protection service, and making sure you have coverage for identity theft through a homeowner’s insurance policy.

Lenox Book of the Month: Grit (The Power of Passion and Perseverance)

Lenox Book of the Month: Grit (The Power of Passion and Perseverance)

Lenox Book of the Month: Grit (The Power of Passion and Perseverance)

by Angela Duckworth

While many believe that intelligence is fixed and success is dependent upon your level of “genius,” psychologist Angela Duckworth set out to prove the opposite.

According to Duckworth, it’s not this factor of “genius” that drives success – it’s a combination of passion and long-term perseverance that she calls ‘grit.’

In New York Times bestseller Grit, Duckworth leads the reader through an obstacle course of eye-opening examples of ‘grit,’ from the United States Military Academy at West Point to the National Spelling Bee. Narrowing down what we can learn from high achievers such as athletes, business people, educators, parents, or students – Grit offers valuable insight into working towards your goals, triggering lifelong interest in what you do, and understanding your own personal interpretation of ‘grit.’

Anyone – man or woman, adult or child – can learn to be gritty!

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Lenox Non-Profit of the Month: Inner City Youth Opportunities (ICYO)

LENOX Non-Profit of the Month:  Inner City Youth Opportunities (ICYO) 

 

For 26 years, Inner City Youth Opportunities (ICYO) a local non-profit 501 (C ) 3 has been providing  a safe, stable place for Cincinnati’s inner-city low-income youth K-12 to go after school and during the summer.  Our mission is to teach practical life skills to develop responsible, educated and caring youth. Our model works by starting with young people who need us most.  The ICYO program was originally based on The Israel Tennis Centers, a 37-year old network of fourteen tennis centers throughout Israel that successfully incorporates tennis, academics and mentoring for at risk children.  

 

ICYO Tennis Program:  In the beginning, ICYO’s method of incorporating tennisresulted in 25 youth who attended Washburn Elementary School in the West End learning through tennis communication skills, problem solving, self-discipline, how to win and lose gracefully, and accountability for their choices.  The tennis program also helped build self-esteem, encourage goal setting, and teach anger-management, and social skills. Many of our players participated in Novice and USTA Tournaments. In 1996, to deepen the impact of the youth served in our Tennis Programtwo additional programs were added:  Academic Interventionand Youth Development.  

 

The Academic Interventionprogram focuses on homework assistance, academic tutoring in all subjects with an emphasis on early childhood literacy (grades K – 4), reading comprehension, language arts, writing, math, life skills and character development.  The program provides a safe, stable environment to help youth pass to their next grade level and be successful in school.  In addition to homework help, the program also offers supplementary individualize academic lesson plans for all subjects for each student that attends including the Steve Spangler Science Club, educational field trips and our new “Raising Young Gardeners to the Teaching Kitchen” with emphasis on learning & cooking healthy foods and using produce from our own garden plot and a Juice Plus Aeroponics Tower Garden.

 

We believe in fostering strong and open relationships with parents and teachers and through the schools’ portals, with parental permission, we track grades, behavior and attendance of the students to make sure they are continuing to stay on track. We provide our students with access to dedicated, trained professionals who can provide guidance in adopting healthy lifestyles and pursuing educational objectives.  

The Youth Developmentprogram consists of our summer camps with community partners, educational and sports field trips for our youth and year-round field trips to the Cincinnati Nature Center our community partner. These experiences give our students an opportunity beyond their neighborhoods that most families wouldn’t otherwise be able to afford.  It allows our youth to connect socially and interact with other youth their age in Greater Cincinnati of all economic, cultural and racial backgrounds and provides an extra incentive for the hard work they do in school and at our Learning Center.  We are also planning a 2019-2020 Financial Literacy Education program to help our junior high and high school students plan their future after high school graduation.

Inner City Youth Opportunitiesprovides free transportation to and from all programs and there are no costs to our low-income poverty level families to participate.  We encourage all ICYO youth to remain in the program until high school graduation and participate in our Leadership Program.

Inner City Youth Opportunities is located at Mid-City Executive Center, 1821 Summit Road, Suite 210, Cincinnati. OH 45237. For more information call 513.731.7312 or visit icyocincinnati.org

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Your College Student is Heading Off to College. What is the big learning?

Your College Student is Heading Off to College. What is the big learning?

Your College Student is Heading Off to College.

What is the big learning?

How to live on your own, manage your time and pay your bills.

 

Parents want to provide their college-age son or daughter a credit card for needed expenses and emergencies only, and then are surprised at the bills their child is able to pile up in a short time.  This can be tough on a family’s finances and especially the parent/child relationship.

 

The solution?  Make “budgeting” and “money management” a key part of getting kids ready for college.

 

Below is some financial help for parents and their college students –- financial lessons to start now, even if your student is already halfway through their college career.

 

Budgeting and money management for college students

3 MUST DO’s:

(1)    Insist they put together a budget.

(2)    Allow them to create their own budget. Be available for any questions (or tears).

(3)    Put the budgeted money in one checking account that your student manages.

 

STEPS TO ACCOMPLISHING THE MUST-DO’s:

·         Have your student brainstorm the expenses they will incur: Tuition, Room and Board, Clothing, Entertainment, Travel, Club Dues, Sports Dues, etc.

·         Have them research and guesstimate the dollars what dollars will be spent

·         Break them into semester or quarter budgets so they learn as they go

·         Expect push back, tears, and frustration as they put together their budget. Quietly, ask questions and guide them when they are stuck.

·         Decide who owns the budgeted money in their account.  Is it funded by you, by them, by a scholarship, or a little bit from all?

·         Trasfer the dollars to an account that is managed by your student

·         Do NOT step in and save them; they will figure it out, even if they need to get a job or loan to make it work.

·         They can do it!

 

The life-long lessons learned

Many life-long lessons are learned when a child is responsible for the dollars they spend in college

 

·         How to do a budget

·         How to open a bank account

·         How to pay your own bills

·         How to apply and manage a credit card or debit card

·         How to manage a budget

·         Creative ways to live within your means

·         How to make choices

·         Ways to make money to fill the gap

·         How to apply for a scholarship

 

And the greatest learning of all that they will receive?  How to handle their finances when they get out of college and for the rest of their lives.  And with any luck, maybe with very little to no debt.

 

What a sense of achievement and empowerment!

 

Budgeting and money management for college students can be a powerful lesson for the whole family.  Job well done! 

 

 

 

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.

 

 

 

 

LenoX Book of the Month: The New New Thing by Michael Lewis

Ever wonder where the next “big idea” comes from? In the weird glow of the dying millennium, Michael Lewis set out on an adventure i through Silicon Valley to find the world’s most important technology entrepreneur. He found this in Jim Clark, a man whose achievements include the founding of three separate billion-dollar companies. Lewis also found much more, and the result―the best-selling book The New New Thing―is an ingeniously conceived history of the Internet revolution.

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AUGUST 2019 OUTLOOK ON PROCTER & GAMBLE CO. (P&G)

AUGUST 2019 OUTLOOK ON PROCTER & GAMBLE CO. (P&G)

AUGUST 2019 OUTLOOK ON PROCTER & GAMBLE CO. (P&G)

Current P&G Stock Outlook:

·     We are raising our 12-month price target from $105 per share to $119 per share. 

·     In response to Procter & Gamble’s (P&G) quarterly earnings announcement, which beat Wall Street estimates on both the top and bottom lines, the stock proceeded to jump by $4.41/share from $116.00 to $120.41.  

·     The company’s fundamentals have been strong, but we believe there has been additional upward pressure on the stock from investors rotating into the Consumer Staples sector and increasing speculation of a P&G stock split.

·     There are numerous factors we see supporting the stock price over the intermediate term including: current momentum, ongoing collaboration between Nelson Peltz & David Taylor, corporate & staff headcount reductions, organizational changes, an attractive dividend, the Federal Reserve cutting interest rates, potential decline in the U.S. Dollar, and continued improvement in analyst stock reports. 

·     Wall Street analysts that cover P&G had forecasted a price target of $101 per share after the previous quarter’s results and have yet again increased their average 12-month price target, this time by $22.62 per share to $123.62 per share.  This marks four consecutive quarters where the average analyst price target has risen sharply, reflecting increased confidence in management and the board.

Highlights of P&G’s Quarterly Results and Fiscal Year (FY) 2019:

·     Fourth quarter Fiscal Year (FY) 2019 produced revenue of $17.094 billion, exceeding Wall Street expectations of $16.856 billion.

·     For Q4 FY 2019, P&G delivered impressive total organic sales growth of 7%, which represents their strongest quarter in over a decade. This was driven by a 3% lift in volume growth and 3% in pricing.

·     Q4 Core EPS rose 17% over the same period last year to $1.10, exceeding analyst estimates of $1.05 per share. 

·     Beauty increased 8% versus the prior year period. Beauty continues to benefit from strong growth in their premium brands, particularly in developing markets.

·     Fabric & Home Care, P&G’s largest business unit, grew organic sales by 10% compared to the same quarter last year.  

·     Baby, Feminine and Family Care increased organic sales growth by 5% versus the year ago quarter. 

·     Grooming’s organic sales posted a 4% increase in the fourth quarter. 

·     For FY 2019, Organic Sales grew in nine of ten global categories. This growth was broad based with all 15 of the largest markets equal to or ahead of FY 2018.  

Fiscal Year (FY) 2020 Guidance:

·     FY 2020 guidance for organic sales growth ranges from 3% to 4%. The company expects all-in sales growth of approximately 3% to 4%. The company expects foreign exchange to continue to drag on sales but will largely be offset by a positive impact from acquisitions and divestitures.

·     P&G FY 2020 guidance for Core EPS growth is 4% to 9%. 

·     P&G FY 2020 guidance for cash usage includes $7.5 billion for dividends and $6 to $8 billion in direct share repurchases. For reference, FY 2019 included $7.5 billion in dividends and $5 billion of direct share repurchases.

·     P&G also noted various factors that could be headwinds during FY 2020. This includes deceleration of market growth rates, significant currency weakness, commodity cost increases, and geo-political disruptions and economic volatility. 

·     P&G expects an effective tax rate of 17% to 18% in FY 2020.

Understanding our $119 Price Target:

·      Sales Growth, Profitability, and Total Shareholder Return

§ We remain optimistic P&G will exceed revenue guidance for FY 2020 based on recent performance. P&G plans to extract another $10 billion in costs through reducing overhead, lowering material costs, and increasing manufacturing and marketing productivity. 

§ We also note the projected increase in cash returned to shareholders. P&G announced a 4% dividend increase after the third quarter results. They also provided guidance for $6 to $8 billion of additional share buybacks in FY 2020. 

·     Fundamentals versus Stock Split

§ Although we believe P&G’s stock price could continue higher in anticipation of a possible stock-split, the fundamentals suggest a $119 per share valuation. If the stock were to split, we would anticipate a modest pull-back, and the stock to lag for 12 to 18 months. 

§ We believe P&G has benefitted from a sector rotation into defensive stocks, which makes it even more attractive given the current global environment. It offers investors global exposure and strong cash flow in a low interest rate environment. 

·     Nelson Peltz and Trian Partners has brought a 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. Although it isn’t clear what amount of credit can be attributed to Trian, there has been a significant increase in both the company results and the stock price over FY 2019. 

§  Last quarter, we stated Trian had the potential to bring an additional $20 per share value. At this point, you look at Trian’s entry point and the upside they have captured, and question when Trian will begin to reduce some or all of their investment.

·     Organization Structure Changes

§ The company continues to drive more accountability. These changes include shifting 60% of corporate overhead and reporting lines to the direct business units and opening the hiring process for more external candidates.

·     Macroeconomic, Political, and Competitive Risks

§ P&G notes increased volatility and continues to identify several key risks that they have nottaken into consideration in their guidance: Trade negotiations, significant strengthening of the US dollar, further rising commodity prices, continued political and economic volatility (Brexit, French business confidence), significant deceleration of market growth rates, and increased competition on higher 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 07/30/2019.

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Lenox Book of the Month: Dare to Lead

Lenox Book of the Month: Dare to Lead

Lenox Book of the Month: Dare to Lead

by Brené Brown

Four-time #1 New York Times bestselling author Brené Brown has spent the past two decades studying the emotions and experiences that give meaning to our lives, and the past seven years working with transformative leaders and teams spanning the globe. She found that leaders in organizations ranging from small entrepreneurial startups and family-owned businesses to nonprofits, civic organizations, and Fortune 50 companies all ask the same question:

How do you cultivate braver, more daring leaders, and how do you embed the value of courage in your culture?

In this new book, Brown uses research, stories, and examples to answer these questions in the no-BS style that millions of readers have come to expect and love.

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What are you doing to prepare for retirement?

What are you doing to prepare for retirement?

What are you doing to prepare for retirement?

See our 13-point “Retirement Checklist” for getting retirement-ready.




Whether retirement is still decades away or just a few years down the road, you should be planning for it now.  Waiting too long to begin preparation can sabotage the dreams you envision for your retirement years. 

 

The fact is, retirement planning goes hand in hand with career planning, with each stage of life having an impact on the other.  This reality has spurred people as young as in their 20s and 30s to start thinking about and planning for retirement, and to take advantage of 401k or other retirement savings plans that oftentimes weren’t even available for prior generations. 

 

Starting early to save money for retirement and continuing to do so faithfully is one of the smartest strategies to follow for attaining the retirement of your dreams.

 

But, there are other equally important things to think about.  At what age should you retire?  Just because your friends plan to retire at age 62 or 65, is that the best age for you, from a financial, emotional and physical health standpoint?   What do you want to do with your free time, and what is the associated cost?  Have you determined a retirement budget?  How much money will you need for day-to-day expenses and where will it come from?  Do you plan to seek part-time employment?  How will such income be taxed?  Are you set with health insurance and Medicare supplemental coverage?  When should you start claiming social security? 

 

Because you don’t want to waste a minute of your retirement years, it’s critical to think ahead, plan ahead and to be prepared as best you can to have the time of your life in retirement. Our Lenox financial advisors are here to help you do just that.

 

We offer the “Retirement Checklist” as a great starting point for your retirement planning –– one more way we help you Fund a Life You Love™. Click here to download.

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At Lenox, we assist our clients in all aspects of their financial life –- career years through retirement years –– not just in managing their portfolio.  Have a question?  Need some specific guidance or information?  Please let us know. It would be our pleasure to help 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 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: Cincinnati Community ToolBank

Lenox Non-Profit of the Month: Cincinnati Community ToolBank

The mission of the Cincinnati Community ToolBank is to serve community-based organizations by providing tools, equipment and expertise to empower their most ambitious goals. Since its inception in 2012, the ToolBank has empowered nearly 400 partner agencies on roughly 16,000 projects, eliminating cost barriers to tools and equipment across a broad spectrum of community issues. More than 246,000 volunteers & individuals have been empowered with #ToolsForChange valued at more than $7.4 million dollars!

When a volunteer decides to give their time and talents to an organization it is critical that they feel as though their time was valued and the experience was meaningful. Oftentimes, an organization will have the volunteers interested in helping them and they will have projects or job tasks that volunteers could help them complete. This could be anything from maintaining that facility grounds, to bigger cleaning or painting projects. But often times they do not have enough tools to equip a larger group or the funds to purchase tools.  

Before the ToolBank opened, organizations would often times look to their staff or volunteers bring tools from home. They may also spend time trying to get them donated or borrow them from other organizations.  Sometimes they would be successful but if not, the end result is a volunteer, that is eager and ready to work, standing around wondering what else they could be doing. Since every volunteer is a potential future donor, there’s nothing worse than a volunteer feeling like their time wasn’t meaningful or valued. In this case you’ve not only lost out on free labor but a potential advocate for your organization. 

Currently, no other program exists in the Cincinnati area that lends tools to nonprofits. The Cincinnati ToolBank aims to remove barriers for nonprofit organizations enabling them to think big and perform larger and more frequent service projects. The Cincinnati ToolBank has proven to be a unique and much-needed resource for our service and volunteer community and has had a tremendous impact, helping nearly 400 nonprofit agencies by providing them with quick and reliable access to an inventory of high-quality tools. 

Our member agencies often express that their concerns about tools & supplies on service projects are budget related. To give an example, Claire Long, Gorman Heritage Farm's volunteer coordinator, placed her first tool order with the ToolBank. The tool order was for their annual Sunflower Festival event and was, from our perspective, fairly modest, consisting of only 100 hand pruners, 25 safety cones, six safety vests, and four two-way radios. However, after a quick tour of the ToolBank and seeing the abundance of resources available and the low cost to borrow these items, Claire quickly realized there was so much more she could accomplish back at the farm with our assistance. 

"Because of the ToolBank, Gorman Heritage Farm is able to take on larger projects around the farm. We are now able to equip more volunteers, school groups, and corporate volunteers than ever before," she said. "By borrowing tools from the ToolBank, we have been able to increase our volunteer capacity by 48 percent in just one year." 

In 2016, 56 volunteer groups assisted the farm. In 2017, the farm hosted 107 workgroups, nearly doubling its project capacity. The farm was able to equip over 950 volunteers with blue tools to help dig 50-foot swales in the orchard, install miles of new fencing, remove invasive honeysuckle and, of course, cut thousands of sunflowers.

The ToolBank depends on the support of the community to be able to provide our services to our local nonprofits. With only three and a half employees, YOUR involvement is critical. There are several ways that you can get involved with the ToolBank!

DONATE - Your donation is critical to the success of the ToolBank’s tool lending program. Cash allows us to buy (at discount) large quantities of industrial grade “like” product making it safer, efficient and easier for volunteers and first responders to operate over extended hours of use. The ToolBank has also created an Amazon tool wish list for items that have been in high demand. Items range in price and are currently under $100.

VOLUNTEER - Whether you are a handyman or have never picked up a tool, we have a position for you. There are many ways you can volunteer at the ToolBank and we gladly welcome individuals and groups (up to 15+) to volunteer their time with us. We are actively looking for volunteers to support our tool lending program by pulling tool orders, completing simple repair tasks, assisting with large events at the ToolBank. We are also seeking for administrative assistance with data entry, Salesforce management, special events, and much more! Click here for more information on volunteering

ENGAGE YOUR COMPANY – The ToolBank hosts three signature events each year, “Banking on Our Community” one-day, hands-on volunteering event, with local banks and accounting firms and their clients assisting a selected local nonprofit organizations. “Building on Our Community” that partners with local contractors and their employees for a day of service with one of our nonprofit partners. Finally, the ToolBank hosts its annual “Haunted Hammers & Ales”, a fundraiser at MadTree Brewing Company that supports our Tool Lending Program. Each event has sponsorship opportunities as well as volunteer engagement opportunities for your corporate teams. For more information about how you can engage your company, please email Lauren.Hall@ToolBank.org.

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Lenox Book of the Month: Who Are You Really and What Do You Want?

Lenox Book of the Month: Who Are You Really and What Do You Want?

Lenox Book of the Month: Who Are You Really and What Do You Want?

by Shad Helmstetter, Ph.D.

Bestselling author Dr. Shad Helmstetter reveals the difference between people who succeed in their lives - day after day - and people who don't. He discloses three underlying breakthrough concepts that are foundational to successful personal and professional growth in each of us. He discovered that when the three concepts are combined, they virtually guarantee success.In an easy-to-follow program that takes the self out of self-help, Dr. Helmstetter shows the reader how to use these breakthough concepts to lose weight and improve physical fitness, increase income, build self-esteem and self-confidence, improve family and relationships, reduce stress, and become more organized and in control.

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Life is full of transitions

Life is full of transitions

Life is full of transitions

How a little help can get you through “what’s next”!


Life is full of moving parts, changes and challenges.  Some planned.  Others a complete surprise.  Some you navigate with ease.  Others can throw you for a loop and leave you wondering what just happened.  Even if the transition is positive, it can feel overwhelming. 

 

Look for a sounding board.

This is a good time to have a sounding board –– the ear, thoughts and guidance of professionals who have experienced what you’re going through and who can lend real-world direction.

 

At Lenox, we help you plan for and manage your financial life and all of its moving parts.  We help you formulate key questions to be asked, strategically explore and review opportunities, consider ramifications of decisions, avoid pitfalls, and more.

 

Real-world examples of how Lenox can help.

 

Switching careers.  Lenox advisors can assist you with decisions and compensation packages.

 

Purchase or LeaseLenox advisors can advise if a car purchase or lease is better for you and your financial goals. 

 

Building a New Home.  Lenox advisors can work with you through the difficult decisions related to building a new home or home renovations

 

New Business HiringLenox advisors can discuss hiring and employment options for your business and advise how best to establish good relationships with your employees.  

 

Life Insurance.  Lenox advisors can offer advice concerning life insurance products, and what is best for your financial situation and your family. 

 

Life happens –– the good, the bad, the wins and the losses.  It’s how you handle the transitions that matters.  Let us help.

 

 

 

At Lenox, we assist our clients in all aspects of their financial life –– career years through retirement years –– wealth creation, wealth management and wealth impact.  Have a question?  Need some specific guidance or information?  Please let us know. It would be our pleasure to help 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 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.

Look ahead 5 to 10 years or more

Look ahead 5 to 10 years or more

Look ahead 5 to 10 years or more

What are you working toward?  And why?


“With a growing family, the expenses seem endless.  We’re not spending money on anything extra right now –– if we did, we’d never reach our college or retirement savings goals.”

 

“I feel like I’m racing to achieve this magic number ($ amount) so that we can retire and not worry about running out of money.”

 

“My wife and I both have good jobs and work constantly but still don’t seem to get ahead.  We’re not even sure what our financial goals should be, or how to get there.”

 

“We’re supposed to have this huge chunk of money saved for retirement by the time we turn 60 or so.  That all sounds good, but we still need to live day to day. Where’s the balance? 

 

If any of these scenarios sound familiar, you’re in good company.  We often hear these types of sentiments from people of all income levels who are trying to juggle their financial here and now with the future.

 

The angst is real and it spans generations. This from a young female executive who just turned 40, “Seems like financial comfort comes only after you’ve reached your savings and education and retirement goals, then you can finally relax and do what you want to in life.”  And this from a gentleman nearing retirement, “I couldn’t wait to retire and now I’m wondering if I do so too soon, both for financial reasons and for staying involved.”

 

Look ahead –– what are you working toward?

 

A magic number for some day? Then what? How many of life’s moments have you sacrificed in getting there?

 

What if, instead, the magic (however you define it for yourself and your family) is not just a number but includes your ability to weather the financial challenges of education and other costs, prepare for the unexpected, wind up with the financial security you seek in retirement, and manage to live life to its fullest all along the way?

 

Sound like a better goal to be working toward?  We think so, and it’s what we help you do. We call it FUND A LIFE YOU LOVE®.

At Lenox, we assist our clients in all aspects of their financial life –- career years through retirement years –– not just in managing their portfolio.  Have a question?  Need some specific guidance or information?  Please let us know. It would be our pleasure to help 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 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 Book of the Month: Free to Focus by MichAEl Hyatt

Lenox Book of the Month: Free to Focus by Michael Hyatt

Get more done and get your life back.

Productivity is about getting the right things done.

New York Times Bestselling author, Michael Hyatt, has created a total productivity system that's much more than endless box checking. Proven by over 25,000 professionals, this system helps overwhelmed leaders achieve what matters most so they can succeed at both work and life. 

In his latest book, Free to Focus, you'll discover how to ...

  • Redefine your work so it works for you

  • Filter your tasks and commitments

  • Cut out the nonessentials

  • Eliminate interruptions and distractions

  • Set boundaries that protect your focus and drive results

  • Leverage your time and energy for maximum productivity

  • Build momentum for a lifetime of success



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Lenox Non-Profit of the Month: Magnified Living

Lenox Non-Profit of the Month: Magnified Living

Lenox Non-Profit of the Month: Magnified LivingWho We Are:

Magnified Giving is a 501 © 3 educational organization founded in 2008 by Roger Grein, a recognized leader in the philanthropic community. Our mission is to educate, inspire and engage students in philanthropy, touch the hearts and minds of teens, lighten the concerns of others, and magnify the impact of philanthropy. Magnified Giving seeks to “develop tomorrow’s philanthropists today”. Currently, Magnified Giving operates primarily in Greater Cincinnati and Northern Kentucky, with five additional partner schools in Cleveland (3) and Indianapolis (2).

What We:

Do: Magnified Giving partners with schools and provides a philanthropy training curriculum that engages students in the process of identifying and assessing a broad range of charitable organizations and directly engaging with local charities. As the process concludes, the students select a charity to receive a grant from Magnified Giving. The grants are awarded in a series of ceremonies that provide the students an opportunity to be a witness to what they have learned and experienced, and to hear how the grant they have awarded will impact the lives of others.

Why We’re Important:

To Date, Magnified Giving has worked with more than 19,500 students to grant more than $700,000 in funding to hundreds of charities in the communities where the students live. Magnified Giving magnifies the impact of our donor’s funds, as we provide grants to local charities through a process that inspires junior high and high school age students to become lifelong givers.  For our students, the lifelong impact of philanthropy education is visible and how their lives and charitable engagement have been forever enhanced is evident in our communities as a result.

How We Serve the Community:

Magnified Giving, through its student-guided grant process, provides direct funding to hundreds of charitable organizations that provide a diverse range of services to the community. To date, this funding has exceeded $700,000, however the impact goes well beyond the funds granted. Magnified Giving is creating future generations of philanthropists that will go on to better serve their communities and have hearts for giving, sharing and caring. While we can measure how many schools have our program, how many students have participated, how many charities have benefited and how many dollars have been granted, we can’t measure the many benefits yet to be realized through the lives of those whose hearts and minds have been forever changed. The ripple effect is powerful.

How You Can:

Help: Magnified Giving helps our student participants understand that they are called to share their time, talent and treasure with others. In the same way, we need the time, talent and treasure of our community to support our impactful student philanthropy program.  Financial donations provide the funds for the grants and help us broaden our reach to more schools and students. Many volunteers have helped us by sharing their gifts in many and diverse aspects of our operations and are welcomed. Many of our opportunities are listed on our website.

Magnified Giving 9940 Reading Road, Cincinnati, Ohio 45241 513-733-9727 www.magnifiedgiving.org Social Media: @magnifiedgiving         

Executive Director:  Kelly Collison Email: kelly@magnifiedgiving.org

Director of Advancement: Carey Kuznar Email: carey@magnifiedgiving.org

Director of Programs: Alison Kaufman

Board Chair:  Roger Grein

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Financial Life Strategies for Dual-Income Families

Financial Life Strategies for Dual-Income Families

Financial Life Strategies for Dual-Income Families

7 tips for building and managing wealth and life.

 

If you’re part of a dual-income family, you know there are both advantages and disadvantages. The two incomes can provide you opportunities to create wealth and establish financial freedom beyond what most single-earner families are able.  However, with both of you working and sometimes both traveling, life can feel like a constant time crunch marked by an overwhelming load of responsibilities, especially if you have little kids.

 

You don’t want to forego your chance to make money, build and manage your wealth, but you also don’t want to miss out on family time, fun and the chance to enjoy life.

 

Here are 7 strategies every dual-income couple should consider.

 

FINANCIAL LIFE

1.   Max out your 401k: You can contribute up to $18,000 per year if you are under age 50 and up to $24,000 if you are over 50. Additionally, many companies offer a company match. It’s a triple win – you can save for retirement, get matching contributions from your employer, and enjoy the tax savings. If you don’t have access to your 401k, you may be able to contribute to an IRA and deduct the contribution on your taxes.

 

2.   Consider deferred compensation: The majority of people are in the highest tax bracket during their working years, and then their tax bracket lowers considerably in retirement. If your company has a deferred compensation program, it’s a great way to manage your income while you are working and delay taxes until you are in a lower tax bracket. This strategy typically allows higher limits for putting money aside than a 401k, and you don’t need to wait until age 59-½ to access your monies. 

 

3.   Understand how your benefits work: Many large companies offer robust employee benefits that employees simply don’t understand or don’t take time to learn about and access. Make sure you are contributing to your Health Savings Account, Flexible Savings Accounts or other flexible benefits program. Doing so can provide you access to certain benefits at a pre-tax rate, which can save you anywhere from 15%-50%, depending on your tax rate. 

 

4.   Put a safety net in place: In today’s economy, it’s likely you will change job 10 to 20 times during your lifetime. Make sure you have an emergency cash fund in place (6 to 12 months of after-tax expenses) to give you a cushion for when you need to make a change. Also, make sure you have disability and life insurance in place for the unexpected. 

 

5.   Save for college.  College expenses have increased on average twelve-fold over the last 30 years. A great way to save for college and have the savings grow tax-free is a 529 Plan. Parents and grandparents can, individually or as a couple, open and contribute to a 529 Plan for each child. Depending on where you live, you may also get a deduction on your state taxes. In Ohio, contributing to a 529 can get you a tax deduction of $2,000 per child.

 

FAMILY LIFE

6.   Outsource what you can:Cleaning help? Grass cutter? Chauffeur for the kids? Meals delivered to your door?  Yes, please. When you look at how much you earn, it’s often less expensive to outsource the work you don’t love to do (both financially and emotionally) than to use your time to try to do it all yourself. 

 

7.   Treat yourself: It’s easy to get stressed out day-to-day with the endless things to do, both at home and in your career.  Block a day at least once a quarter to take a day trip, get a massage, have a date with your spouse, meet friends for lunch, or read a book, relax and not worry about what else gets done.

 

REMEMBER –– The earlier in your careers that you put these and other wealth management strategies in place, the even greater your potential for building wealth as you allow the time-value of money to work to your advantage. We’d love to tell you more. 

 

 

 

At Lenox, we assist our clients in all aspects of their financial life –– career years through retirement years –– wealth creation, wealth management and wealth impact.  Have a question?  Need some specific guidance or information?  Please let us know. It would be our pleasure to help 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 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.

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MAY 2019 OUTLOOK ON PROCTER AND GAMBLE CO. (P&G)

MAY 2019 OUTLOOK ON PROCTER AND GAMBLE CO. (P&G)

MAY 2019 OUTLOOK ON PROCTER AND GAMBLE CO. (P&G)

Current P&G Stock Outlook:

  • As P&G remains above $100 per share, continues to deliver top and bottom line growth, and speculation grows regarding a stock split, we anticipate the stock price will move towards $110 to $115.

  • In response to Procter & Gamble’s (P&G) quarterly earnings announcement, which beat Wall Street estimates on both the top and bottom lines, the stock proceeded to fall by $2.85/share from $106.03 to $103.16. This was a surprise to us.

  • We are increasing our 12-month price target from $98/share to $105/share.

  • We believe the stock’s recent run is more attributable to investors anticipating a stock split versus the company’s fundamentals.

  • The stock could benefit further from ongoing collaboration between Nelson Peltz and David Taylor, corporate and staff headcount reductions, organizational changes, a trade agreement being struck by the US and China, the Federal Reserve minimizing future rate increases, and continued improvement in analyst stock reports and price guidance.

  • Wall Street analysts, who forecasted a price target of $94.21/share last quarter, have once again increased their average 12-month price target by nearly $7 to $101.12/share. This marks three consecutive quarters where the average analyst price target has risen considerably.

Highlights of P&G’s Quarterly Results:

  • Third quarter Fiscal Year (FY) 2019 produced revenue of $16.46 billion, exceeding Wall Street expectations of $16.37 billion.

  • P&G delivered impressive total organic sales growth of 5%, driven by a 2% lift in volume growth, 2% lift in pricing, and 1% lift in positive mix.

  • First quarter Core EPS rose 6% over the same period last year to $1.06, exceeding analyst estimates of $1.03 per share.

  • Organic Sales increased in four of five business units, and eight of ten global categories. The company had organic sales growth in 100% of their geographic regions, most notable was China with impressive 11% organic sales growth, after a 15% gain in Q2.

  • Beauty increased 9% versus the prior year period. Beauty continues to benefit from strong growth in their premium brands.

  • Fabric & Home Care, P&G’s largest business unit, grew organic sales by 7% compared to the same quarter last year. 

  • Baby, Feminine and Family Care increased organic sales growth by 2% versus the year ago quarter.

  • Grooming’s organic sales posted a 1% decrease in the third quarter.

Fiscal Year 2019 Guidance:

  • The company finally increased the guidance for FY 2019 organic sales to 4%, reflecting the results of the three previous quarters.

  • They reiterated FY 2019 guidance for Core EPS growth of 3% to 8%. From our perspective, this range is excessive and may reflect management’s ongoing concern over certain Board relationships, or the outside possibility of a reserve for a major restructuring in FY 2020.

  • For FY 2019, the company expects to pay over $7 billion in dividends and repurchase up to $5 billion of outstanding common shares.

  • During the call, Jon announced a best in class effective tax rate of approximately 15%. The company has not identified the tax savings in the forecast, or how they will redirect the proceeds to increase shareholder value. In our opinion, we believe this is an opportunity for Jon Moeller to provide increased transparency and build credibility with shareholders who would like more clarity on this part of the guidance forecast.

Understanding our $105 Price Target:

Fundamentals versus Stock Split

  • Although we believe P&G’s stock price will continue higher in anticipation of a possible stock-split, the fundamentals suggest a $105 per share valuation makes sense. Post-split, we would anticipate a pull-back, and for the stock to lag for 12 to 24 months.

 

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.

  • We believe Trian has the potential to bring an additional $20 per share in value to the price of the stock over the next three to four years. An argument can be made they have already added $20 to $25 per share.

 

Organization Structure Changes

  • The company, primarily driven by Nelson Peltz, is focusing on driving more accountability. These changes include shifting 60% of corporate overhead and reporting lines to the direct business units and opening the hiring process for more external candidates.

  • We believe the results are beginning to reflect this new organization structure. 

 

Macroeconomic, Political, and Competitive Risks

  • P&G notes increased volatility and continues to identify several key risks that they have not taken into consideration in their guidance: Trade negotiations, significant strengthening of the US dollar, further rising commodity prices, continued political and economic volatility (Brexit, French business confidence), significant deceleration of market growth rates, and increased competition on higher 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 04/23/2019.