Meet Anne Burney

Meet Anne Burney


Come join her for “The Other Talk” – September 27th at noon


Talking to your adult children about the rest of your life is one of the most important talks families must have. One generation knowing and honoring the other’s wishes is critical both for emotional and practical reasons.  Are important documents in order and placed where they can be found?  Have you discussed future living arrangements?  What’s the plan for getting the medical care you may need?  Have you made plans for financing your future?   Who will make decisions for you if you are unable to do so?   

 

If you haven’t already had these discussions with your adult kids, or even if you have and aren’t sure you’ve addressed everything essential, plan now to join us on Thursday, September 27th, noon to 1:00 pm at our Kenwood location, for a free and highly important seminar on this very topic.  This information-rich seminar will be led by Lenox VP and Wealth Advisor, Anne Burney. 

 

Meet Anne Burney

Anne has been working with Lenox clients for more than 27 years in various roles and brings over 36 years of investment management and brokerage industry experience to her role as Wealth Advisor. Among her skills is helping families think about, plan and navigate their elder care, estate and legacy planning needs.

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 An advisor with experience working on generational financial planning, Anne leads our Lenox “Embrace” program –– focused on providing our clients with real-world, relevant information to live their life fully, and with the peace of mind that comes with knowing that essential matters are being addressed thoughtfully and in keeping with personal desires. In her own words...

 

 “It is an honor to be so closely involved with our client families and to be entrusted to help see them through what can be financially complex and emotionally challenging times of their life.”


What You’ll Learn at the Seminar

The seminar will be based on the award-winning book, “The Other Talk:  A Guide to Talking with Your Adult Children About the Rest of Your Life” by Tim Prosch.  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.

 

The mood will be upbeat but pragmatic as we share real-world scenarios of how families can turn this potentially touchy topic into a successful, productive and even heartwarming family discussion.  We hope you will join us, because you will leave with actionable steps as well as online and other resources to help you move forward with taking charge of the later stages of life.

 

Call us at 513-618-7080 to reserve your seat(s) for the complimentary seminar on Thursday, September 27, noon to 1:00 pm, first floor, 8044 Montgomery Road in Kenwood.  Family members are welcome. Please call soon as space is limited.

 

 

At Lenox, we work with families to help guide them in every aspect of their financial life –– from generational planning and 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.  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.

Free agents in the corporate world

Free agents in the corporate world

Free agents in the corporate world

The growing opportunities of our “gig” economy

You’re not part of a rock band playing a one-night gig or an artist working in residence for a few months.  You’re a career professional working in a major corporation.  You’ve put in your time to get where you are.  So, what’s with the growing number of consultants, contract workers and freelancers you see working alongside you?  Is this a shift that has some permanency and if so, is it a good thing or a bad thing?  More importantly, what might it mean to your career and financial planning long term?

 

WHAT’S GOING ON?

Some say it’s all part of America’s gig economy, an outgrowth of nearly a decade ago when jobs were scarce and people became comfortable hopping from one role to the next to survive.  “That was then, this is now,” says John Lame, Lenox CEO, who believes “free agents signal the Uberization of the professional workforce, and that as many as one-third of employees in large companies will eventually participate.” 

 

WHY NOW?

There are a number of theories around the popularity of “free agents” in the corporate world. Here are just a few.

1.     More job openings than people to fill them.

Some employers are scrambling to fill positions and are defaulting to contract, part-time workers and retirees to get the job done.  According to the WSJ, “Jobs Go Unfilled as the Economy Expands”, August 8, 2018... “Job openings are piling up in the transportation, retail and business services sectors as workers become scarce in the fast-growing economy.  According to Labor Department data released yesterday, there were 6.7 million job openings on average in the three months ended in June 2018––the highest quarterly level on record dating back to 2001.”

 

2.     No time to find, interview, vet and hire a full-time employee.

If a business is already slammed with orders and work is piling up, they need to find someone with the skills they need now!  It makes sense they would bring in people on a project basis to get the work done until they can find the full-time worker they seek.

 

3.     Free agents can be less expensive than a full-time employee.

While consultants may command a higher fee per hour, they are available without the overhead, benefits, healthcare costs, etc. of a full-time employee, making them a financially-sound choice for project-based assignments

 

4.     Your company is undergoing change and hiring full-timers is too big of a commitment. 

In most cases, free agents are a short-term hire making them easier to get rid of than full-time workers.  Their higher cost per hour is balanced by a company’s ability to let them go on short notice without a severance or hard feelings.  The temporary relationship is understood by all parties.

 

5.     Free agents can add a fresh perspective and broader insights.   

It can be a good thing to get some new thinking and a different set of eyes on one’s business. Free agents have the benefit of exposure to a variety of companies and best practices.  It might be interesting to see what they bring to the table.

 

HOW DO YOU SEE IT?

Where do you stand on the matter of free agents in the corporate world?  Do you see yourself a forever full-time corporate employee, or are there aspects of being a free agent that might well suit your skill sets, your personality, your family and financial life, your income aspirations and your ability to build personal wealth?  Are you willing to rethink how your career might shake out over a lifetime doing what you love but as a free agent?  Change is rarely easy, but the idea of being a free agent can prove to be both personally and financially rewarding.

 

“Too often we get lulled to sleep and believe we have to have one employer, never recognizing    when we can make more money, have more flexibility on time, do more interesting and unique work, and increase our personal growth rate by choosing to be a ‘free agent’,” notes John Lame.

 

Want to know more on this subject, call or email us at info@lenoxwealth.com.  We’d love to help you look at your specific opportunities.

 

 

At Lenox, we work with families to help guide them in every aspect of their financial life –– from generational planning and 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.  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.

It's okay to talk about money with your kids.

It's okay to talk about money with your kids.

It’s okay to talk about money with your kids.

The lifelong impact of dinner table dialogue.

Even when they don’t act like it, your kids are listening to and hearing what you have to say about money –– everything from chatter over household expenses and bills to pay, to telling a store clerk that a certain item is beyond your budget, to your fretting over a pending tuition payment. 

 

You might remember hearing your own parents talk about the family budget, or saving for a vacation, or how much they could spend on a new car, new furniture, new clothes, school supplies, and why you “didn’t need that” whatever “that” might be. 

 

The dinner table was a traditional forum for such discussions.  Who doesn’t remember hearing a parent say, “when I was your age, we had to work all summer for our fun money... we waited until our birthday or Christmas for new toys... we wore our older siblings’ hand-me-down clothes...” and on and on. 

 

The fact that so many of us can recall these money talks, often in great detail, means they made an impact.  It was a great teaching opportunity for parents and learning opportunity for kids.  These opportunities still hold true today.  Talking about money with your kids is still time well spent.

 

Here are some tips for engaging your kids or grandkids in talking about money and building the next generation of dinner table dialogue and memories.

 

MAKE IT RELEVANT

Whether the kids are begging for a jungle gym for the yard, a day at an amusement park, or a ski weekend, include them in the conversation about how to prioritize their wants versus the family’s needs. Discuss with them the costs of their wants, and the sacrifices that may be needed to purchase what they feel is important.  Today’s tech-savvy kids can go online to research and compare the cost of items, experiences and trips.  Older kids can create a spreadsheet and provide a cost-comparison report for the family to review.  

 

MAKE IT FUN

Want to talk to your kids about saving, spending, donating to charity, creating a budget and don’t know where to start?  There are books galore to help you.  With a quick visit to amazon.com, we found a bevy of titles for kids of all ages, toddlers to teens, with fun illustrations, puzzles and money-oriented games for the whole family. If you prefer online teaching, check out sites such as www.parents.com or www.daveramsey.com for kid-focused lessons about money. Whether a book or website, make the learning experience a family affair to give it more meaning and impact. 

 

MAKE IT REWARDING

Getting kids to understand that money needs to be earned before it can be spent, and that earning requires doing some type of work in exchange for the money can be one of the tougher lessons to teach.  Some families have great luck in making a list of weekly chores for each child and assigning an amount of money for the completion of each task –– all of which adds up to a performance-based allowance, if you will. 

 

The goal is to include children of all ages, assign age-appropriate tasks, and check off a job well done.  For example, even a two or three-year-old can take their non-breakable drinking cup and plate from the table to the sink, put their shoes in the closet and dirty clothes in a hamper.  Older kids can take out the trash, make their bed, load the dishwasher, help with yardwork, etc.  In exchange for performing their chores, they receive the total amount of money they’ve earned for the week.  (NOTE:  Chores not completed are not compensated.  Stick to your guns on this one.)

 

MAKE IT ASPIRATIONAL

One family we’ve met has a bucket list generated by their sons, ages four and six.  Never too young to dream.  What’s on the boys’ bucket list?  A trip to Disney World.  A trip to the National Air & Space Museum.  A big house with a swimming pool.  A trip to the moon.  And helping the less fortunate families in their city.  Nothing wrong with those aspirations.

 

Have favorite tips or resources of your own for teaching kids about money?  We’d love to hear them. Want to know more about family budgeting, generational wealth building, and personal financial planning, give us a call at 513-618-7080.  We’d love to help you FUND A LIFE YOU LOVE® today and for generations to come.

 

At Lenox, we work with families to help guide them in every aspect of their financial life –– from generational planning and 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.  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.

Will you have enough money to retire?

Will you have enough money to retire?

Our 5-step guide will help you determine “your enough”.

What’s “enough”?  You can’t know if you’ll have enough money to retire until you define your enough –– the amount of money you personally will need annually to live the way you hope to in retirement.

Long-held thinking has been 70%-80% of your final, pre-retirement annual gross salary would be a reasonable amount to qualify as “enough”.  The problem with this thinking is that it’s not necessarily panning out for today’s retirees, especially considering the number of retirees who are active, involved and who may have a retirement that lasts 20 to 25 years or longer.  Conventional wisdom is that people tend to slow down in retirement and as a result don’t spend or need as much money as during their working years.  Today’s retirees don’t necessarily fit that profile. Many are busier than ever. They’re traveling, shopping, dining out, renovating their home, taking up hobbies, going to concerts and events, working out, visiting family and friends, taking classes –– all things that cost money.

The point is this: there’s no one formula (percentage) that works for all retirees.  Believing that “your enough” is like everyone else’s is a mistake that may lead to a lot of disappointment in your later years.   

A better approach to determining “your enough” is to take out a pencil and paper and start now wherever you are on your road to retirement to assign real costs to the things you imagine wanting to do, buy, own, see, experience and enjoy in your non-working years.  Planning your retirement around well-considered personal projections beats relying on a arguably dated percentage.

At Lenox, we advise you follow a simple, 5-step guide to help determine how much money will be “enough” for you personally to retire in the manner you desire.  It’s based on a number of variables and financial projections pertinent to you individually.

GET STARTED HERE (A Brief Look at Our Guide)

Make five lists, following the steps below.  Be as complete as possible in making your lists.  Next, assign honest numbers to each item on your lists, projecting out as best you can into your retirement years.

Step One –– The Expected

List all of your basic expenses that will continue into retirement:  mortgage or rent, utilities, insurances, auto, groceries, medications, etc.  Assign costs to each.

Step Two –– The Unexpected

You’ll still need an emergency fund in retirement.  Think unexpected healthcare costs, accidents, home repairs, increases in insurances or fees, replacing major appliances, etc. when making this list.

Step Three –– The Family

Retirement means finally being able to dote on and spend more time with family.  Whether that translates to gifts, trips or both, you’ll want to plug in a number to cover these costs.

Step Four –– The Change of Habits

Having more free time can be both wonderful and expensive. In a nutshell, habits change in retirement that can cost more money than you might imagine.  Eating out more often than usual is one example.  Same for playing more golf, shopping more frequently, spending more on personal grooming, etc.  Retirement is the perfect time to enjoy one’s life, but remember there’s always an associated cost.

Step Five –– The “I’ve Always Wanted to...”

Call this your bucket list or dream list.  What are the things you’ve always wanted to do?  Travel the world?  Visit every state?  Traverse America’s back roads?  See museums and monuments?  Take cooking classes in Italy?  Create the media center of your dreams?  Take your grandkids to major league sporting events?  Build your dream home?  Collect art?  This list can be anything or everything.  List your top five priorities and estimated costs, then your next five and so on.

TIME TO TOTAL UP YOUR ESTIMATED RETIREMENT COST OF LIVING

If your total falls into the 70%-80% range of your final, annual gross salary, good for you.  However, don’t be surprised if your total doesn’t actually surpass your final salary. Not to worry.  The trick to having “enough” money to retire is to start now to get a clearer picture of how much money you will need to live the life you imagine in retirement.  Write it down.  Plan for it.  Make it happen.  We’d love to tell you more and work with you one-on-one to help you FUND A LIFE YOU LOVE® all lifelong.  Let’s talk.

At Lenox, we work with families to help guide them in every aspect of their financial life –– from generational planning and 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.  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 contact us here to Fund a Life You Love.

Past Performance is not indicative of future results.

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

La Soupe September Non-Profit of the Month

La Soupe September Non-Profit of the Month

Check out La Soupe's latest initiatives!

La Soupe bridges the gap between food waste and hunger. They take imperfect produce headed for the landfill and transform it into nutritious soupes and casseroles which is distributed to the food insecure community. La Soupe has a team of volunteer food runners who pick up produce from various Kroger locations, Jungle Jims, Crosset Distributers, and Pipkins and drop off to La Soupe. This fresh produce is sorted, washed, and then used in a creative way to produce food items for both supporting customers and hungry families and their children.

The Bucket Brigade started so that La Soupe could include local restaurants in the movement. Talented chefs use their own excess plus the perishables that La Soupe delivers to them, to make soupe or prepared meals. This is quarted up, frozen, and delivered to different agencies and schools who feed the food insecure. 

Cincinnati Gives a Crock cooking clubs exist in 3 schools and 2 community groups. Each week the students are taught basic knife skills and how to read recipes, manipulate spices and recognize product. They go home with prepped foods to cook in their crock pot which will feed a family of six. The students love being the “hero” of the family by providing dinner!

La Soupe focuses on feeding students who rely on free and reduced lunches for their meals. Each month, over 6,000 “souper sacks” are sent home so that these children can enjoy a quart of soupe, fresh bread and danish, along with fruit, over the weekend.

In 2018, La Soupe has rescued 124,476 pounds of produce and has given 96,545 servings of healthy food items to people in our community who are hungry. The Bucket Brigade supplied La Soupe with 5,636 gallons of soupe to distribute.

Visit https://www.lasoupecincinnati.com to learn more!

LENOX RECOMMENDS -- ARTICLES THAT CAUGHT OUR EYE / LATE AUGUST 2018

LENOX RECOMMENDS -- ARTICLES THAT CAUGHT OUR EYE / LATE AUGUST 2018

LENOX RECOMMENDS -- ARTICLES THAT CAUGHT OUR EYE / LATE AUGUST 2018

 

PRODUCTIVTY

 

The Garage Group of Cincinnati is on a roll.  Number 945 on the 2018 Inc. 5000 List

http://www.thegaragegroup.com

 

 

INTERESTING FACTS!

 

Ever wonder who serves on the Board of Directors of the 50 Largest US Companies? Here is a little insight that you will find very interesting!

 

 

BUSINESS

 

Looking for a good book? Check out this list of the 5 best investing books you may not have heard of.

 

 

PERSONAL GROWTH

 

In a world moving so fast, it's easy to lose hold of the values that propel us into the direction of our best self. Most often it's not that we're trying to do anything wrong, we're just doing what success seems to demand. We're told, do whatever it takes! But I'd counter that success that isn't in alignment with our best self, won't ultimately feel like success. You can't hide from yourself. It can be easy to forget that it's not all about what CAN you do, but what is the RIGHT thing to do? Of course, right and wrong is a long continuum and we've all different ways we navigate. Some of us turn to faith. Some to what we've learned from our parents or teachers. Some of us hope that our insides will be our barometer. With so many shades of gray, how can determine, collectively, what ethical action looks like? But one of best integrity filters I've ever seen is #RotaryInternational's Four-Way-Test:

Is it the truth?

Is it fair to all concerned?

Will it build goodwill and better friendships?

Will it be beneficial to all concerned?

Imagine a world in which we all operated out of this same simple code. Of course we can't police the world around us, we can only be responsible for ourselves. But that's a pretty good place to start.

By KIMBERLY DAVIS

 

 

ANOTHER POINT OF VIEW

 

Most people are reluctant to take in information that is inconsistent with what they have already concluded. When I ask why, a common answer is: “I want to make up my own mind.” These people seem to think that considering opposing views will somehow threaten their ability to decide what they want to do. Nothing could be further from the truth. Taking in others’ perspectives in order to consider them in no way reduces your freedom to think independently and make your own decisions. It will just broaden your perspective as you make them.

By RAY DALIO

 

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: Multipliers by Liz Wiseman

Lenox Book of the Month: Multipliers by Liz Wiseman

How The Best Leaders Make Everyone Smarter

 

Multipliers tackles the issue of why some leaders, called multipliers, energize their employees to produce better results and amplify the smarts in the room. And why other leaders, called diminishers, suck the energy and intelligence from their teams.  Take a look at your leader- whether at work, in a volunteer situation or even on the home front. Do you feel supported and empowered to do better? Or, do they kill your ideas, sap your energy, and capability, needing to be the smartest person in the room. Five disciplines have been identified that distinguish multipliers from diminishers. These five disciplines are skills and practices that everyone can learn to use. Great book to read for both personal and professional growth!

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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.

The Other Talk

The Other Talk

The Other Talk

Talking to your adult children about the rest of your life.

 

Our seminar will guide you through this important discussion.

 

Make plans now to join us at Lenox on September 27 at Noon for a free and highly important seminar on how to talk to your adult children about the rest of your life. 

 

Our seminar is based on the poignant and award-winning book, “The Other Talk:  A Guide to Talking with Your Adult Children About the Rest of Your Life” by Tim Prosch.  We present it as part of our Embrace program at Lenox which is focused on providing our senior clients with real-world, relevant information to live their life fully, and with the peace of mind that comes with knowing that essential matters are being addressed thoughtfully and in keeping with personal desires.

 

Topics will include:  Why Have the Other Talk?... Getting Ready for the Other Talk... and Turning the Other Talk into an Action Plan.  Specific discussion will cover everything from getting important documents in order, to selecting the best living arrangements, getting the medical care you may need, financing your uncertain future, and more.

 

The mood will be upbeat but pragmatic as we share real-world scenarios of how families can turn this potentially touchy topic into a successful, productive and even heartwarming family discussion. 

 

Attendees will leave the seminar with actionable steps as well as online and other resources to help them move forward with taking charge of the later stages of life.

 

Our goals are 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.

 

Call us at 513-618-7080 to reserve your seat(s) for the complimentary seminar on September 27 from Noon- 1 pm.   Family members are also welcome. This information-rich seminar conducted by Anne Burney, Vice-President/ CSA® will be the go-to event for preparing all generations to have “The Other Talk”.  Registration at 11:30 am. Lunch will be provided.

 

 

At Lenox, we work with families to help guide them in every aspect of their financial life –– from generational planning and 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.  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: Starshine Hospice of Cincinnati Children's Hospital

Lenox Non-Profit of the Month: Starshine Hospice of Cincinnati Children's Hospital

Lenox Non-Profit of the Month: Starshine Hospice of Cincinnati Children's Hospital

 

StarShine Hospice of Cincinnati Children’s Hospital Medical Center is the only organization in the Tri-State area dedicated to the care of terminally ill children and their families, and one of only a few in the nation. Their philosophy is: “Children know how to make the most of every moment. At StarShine, we follow that example. When the moments with a child you love are fewer than they ought to be, StarShine is here to help make each one count.” StarShine was created to help children who are facing debilitating, life-limiting and terminal illnesses ~ and their families. They provide care, comfort, and support (most often in the child’s home) to help make the most of the time they are given together.

Four programs deliver services to clients:

*The Transitions program provides home-based skilled medical care to seriously ill children with chronic, life-limiting or terminal medical conditions. Services may include skilled nurse visits, pain management, home medical equipment, and counseling.

*The Hospice program provides comfort care and support to children and young adults whose life expectancy is six months or less. Most hospice care is provided at home in loving, comforting, and familiar surroundings. Services offered can include medical staff, assistive equipment, psychological and spiritual support.

*The Perinatal program is designed to support a couple who learns during pregnancy that the baby they are expecting has a terminal health condition. Expert medical and psychological support and guidance are provided throughout pregnancy and after the baby is born, including counseling to family members and bereavement support.

*The Bereavement program is available to all families who have lost a child to illness. Extensively trained staff offer grief support to help families cope with a child’s death, and help to celebrate his or her life in meaningful ways. 

According to Susanne Evans, Clinical Director of StarShine, “Nothing is more devastating to a parent than receiving the news that their child has been diagnosed with a terminal or life-limiting illness. Thanks to generous donations from the community, each year we serve over one hundred patients and their families, providing care and support to meet their physical, emotional, and spiritual needs. We help children, their siblings, parents, and families make every moment count during their time of need.” 

For further information, please call Teresa Gills at 513.636.1821. To make a donation, please visit https://giving.cincinnatichildrens.org/starshine

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

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

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

 

PRODUCTIVTY

 

Do you want to change the world or build better habits? Either way, Peter Drucker believes you need to align your behavior with your intentions. Take a look at Drucker’s principals.

The Rules of Effectiveness by Zat Rana

 

 

INSPIRATIONAL

 

Which are you?

 

 

 

BUSINESS

 

Did the "It's a Tide Ad" campaign actually grow the Tide business? We now have the USA Neilsen market share numbers, and the answer is…….read below!

Tide's 2018 Super Bowl ads: building business, or just generating talk?

By Philippe Bovay

 

 

 

PERSONAL GROWTH

 

How do you double your income in the next 7 years? Change how you think. Intentionally Grow. Change what you read and develop a growth plan.

Six Steps to a Stronger Mind by Mark Victor Hanson

 

 

 

 

ANOTHER POINT OF VIEW

 

Are you going in the right direction? If not, are you adjusting your course? What are you waiting for?

 

 

 

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.

Education and Career Planning

Education and Career Planning

Education and Career Planning

When the rules no longer apply.

 

“Whatever you do, you need to get your college degree.”

“Get your masters while you’re young; you may not have a chance to go back for it later.”

“A degree from XYZ University will mean an exponential increase in income for a lifetime.”

 

This kind of thinking has been the mantra for many a family for decades.  The better the education, the better the career, the better one’s lifetime earning capacity.  No longer is it necessarily a formula for success.

 

Three dramatic shifts in today’s workplace are making an impact on the traditional approach to higher education and career planning. The old rules may no longer apply.  Let’s take a look.

 

First, America’s burgeoning economy has created a hiring environment where there are more jobs available today than people to fill them.  In the post-recession years circa 2009, companies were imposing ever stricter standards for hiring as a means to whittle down the stacks and stacks of resumes they received.  Back then, companies had the pick of talent.  Today, many of those same companies are reducing qualifications for hiring –– requiring only a high school or 2-year college degree, eliminating drug tests, hiring self-trained versus formally-trained workers, etc. –– in order to have a larger group of candidates from which to draw. Some companies also are loosening standards for promotions, filling management positions from within and, in turn, making room for easier-to-find entry-level workers.

 

Second, many of the highest-paying jobs available today require skills typically not part of a four-year bachelor’s arts and sciences degree.  Instead, they are positions demanding specific technological, mechanical or other skill sets.  To fill these slots, some companies have initiated or expanded their on-the-job training programs in order to ensure they have the precise talent they need.  It’s a win for employees who can learn lifelong skills on the employer’s dime while also earning a paycheck.

 

Thirdly is the growth of what’s known as the “gig” economy.  An increasing number of people are working on a contract or freelance basis, choosing their freedom in terms of time and client base over making a commitment to any one company.  Others are working from home, finding clients on a global scale thanks to online sites where they can share their talents and be compensated as a sole proprietor.

 

With this new reality, some parents and young people are left wondering if a college degree is all that it’s cracked up to be or if it’s necessary at all. It also raises the question, is the average cost of a college education, currently estimated at $9,970 per year for a public university in-state student, $25,620 for out-of-state students attending public universities, and $34,740 per year for private colleges, a smart investment? * 

 

If you have kids who are in college or nearing college age and are pondering their future path, a question we at Lenox strongly suggest you ask is, “What are your kids already really good at... what do they love to do... what are their natural strengths and talents?”

 

If the answer is they love academics, studying and research, that’s one thing.  College feels right for them.  However, if you say they can take a car apart and put it back together, or they’ve been doing basic computer programming since they were five years old, or they are more creative and amazing in the kitchen than chefs twice their age, you might have a blockbuster kid whose talents won’t necessarily be nourished via a traditional college education track.  It’s not that they shouldn’t experience a college education; it’s more that it might not result in the income, happiness or fulfillment they imagine.

 

Education and career planning are big decisions for families.  Our Lenox professionals are here to help you look at things from a number of perspectives –– financial planning for college, non-traditional options for skills training, career coaching, and the value of achieving both personal wealth and personal happiness.  It’s part of how we help generation after generation to FUND A LIFE YOU LOVE®.  Give us a call.  We’d love to tell you more.

 

* College Board, average cost of tuition and fees for 2017-2018 school year

 

 

 

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.

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.