| The Secret of Social Security |
Many people believe that once they hit age 62, they should immediately begin receiving social security benefits. Others have been advised to wait as long as possible before drawing distributions. This has become an even more difficult situation given the recent turbulent market conditions, which may have damaged other retirement savings. As you may have guessed, there is no one right answer. There is, however, a right answer for you.
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| A look back at 2009? |
Looking back at 2009, history will show that it was a good year for market participants, helping them gain back some of the painful losses of 2008. The U.S. and overseas equity markets posted strong gains, with the S&P 500 Index advancing 26.46 percent and the MSCI EAFE Index up 31.78 percent for the year. Lower-quality stocks, which have historically been more volatile, performed very well for the year, as lower-quality names led the early stages of the rally and gained momentum throughout the year. Both high-yield bonds (Barclays Capital U.S. Corporate High Yield Index) and emerging markets (MSCI Emerging Markets Index) reinforced this notion, gaining 54.78 percent and 74.50 percent, respectively, for the year.
Market Commentary.
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| Starting Fresh in 2010 |
As an independent local wealth management firm, LeConte Wealth Management takes pride in our local community. Last spring we conducted an important survey of East Tennessee attitudes towards financial matters and revealed a significant lack of financial literacy in our region. Armed with this information we embarked on a year long campaign to raise awareness to this problem. We spoke at numerous events to highlight our findings and propose solutions. We added an easy to navigate financial glossary to our web site and more than 40 free financial calculators for East Tennesseans to access personalized answers to their questions.
In 2010, we are embarking on the next stage of our financial literacy campaign. We’ve identified a number of problematic business practices and products that target wealthy East TN business owners, retiree, and investor. In coming months, our commentary will provide in depth insight into these financial pitfalls and offer practical, money saving solutions for you as you chart your financial future.
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| Co-Founder and Managing Partner recognized as young Knoxville leader |
| LeConte co-founder, Kevin Painter was selected by the Greater Knoxville Business Journal as one of the "Top 40 under 40" in our local business community:
"They're innovators, value creators and agents of change.
They work for the region's largest employers, small businesses and for themselves.
Their professions include bankers and lawyers, educators and entrepreneurs, community and government leaders, fundraisers and investment advisers.
And they have one thing in common: In recognition of their personal and professional achievements, they are the 2009 recipients of the Greater Knoxville Business Journal's 40 Under 40 award." |
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© 2009 LeConte Wealth Management, LLC. 269 Cusick Road, Suite E-1, Alcoa, TN 37701
Securities and Advisory Services offered through
Commonwealth Financial Network, Member FINRA , SIPC, A Registered Investment Adviser,
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