Ken's 2nd Quarter Update

August 17, 2023

It’s Back!

After 30 consecutive quarterly updates starting in 2014, I missed an update in the 3rd quarter of 2021.  I put out a Q4 2021, but then missed Q1 2022 and it appears I started writing a Q2 2022 update but did not finish. As my business has grown, so has the demand for my time and though I enjoy writing these updates I made the decision to focus on other areas until I was able to hire some help.  Well, that time is now and here’s your first quarterly update in 6 quarters!

A LOT has happened, sorry if I go on a bit!

Business update:

After 8 years together, my part-time assistant Claudia Snizik retired at the end of 2022.  Many clients grew to know Claudia along the way, and she did a fantastic job helping to keep my attention on the areas that needed it most.  I owe much of the growth of the business to her.  We wish her all the relaxation and enjoyment that retirement can bring!

Claudia gave me a long runway before stepping aside so I was able to find another part-time assistant, Melissa Simpson, and she started in November 2022 to have some overlap.  I met Melissa by joining the board of the Financial Planning Association of Central Pennsylvania, Inc.  Melissa is the executive director of the organization – one of the many hats she wears.  She has been fantastic as she has gotten up to speed, and you’ll continue to see her name pop up for meeting confirmations and events, and she handles some behind the scenes items as well.  “Welcome” (8 months later) to Melissa!

May 1, 2023, was the official date that I took over a significant amount of client households from my retiring business partner Laird Gemberling.  Laird and I signed that agreement back in 2018 and here we are 5 years later and past the “ex-date” already.  Laird is continuing to run his tax practice after stepping back from financial advising so he’ll be busy but not as busy in semi-retirement.  I almost certainly would not have survived in this business without the stability and guidance Laird provided me early on and it’s hard to believe it’s been over 11 years since we began our partnership.  I’ll still get the occasional carpool with Laird up to the Selinsgrove office so it’s not a goodbye just a different dynamic.  I do plan on continuing to be in the Selinsgrove office two days per week.

To help with the additional workload, I hired Jon Edris on May 22, 2023, as a financial advisor assistant.  Jon is a recent graduate of Mount Saint Mary’s University and is currently studying for his licensing requirements to become a financial advisor himself.  He passed the first leg of four just today – July 14th!  Jon is living in the apartment above the Selinsgrove office and will be working daily out of that location.  Tough commute!  He’s very sharp and I look forward to mentoring him through the launch of his career and to the help he’ll be providing me in managing my business.  I’ve long said I should hire or partner with a young advisor, but the timing with Laird’s retirement finally provided the opportunity to make it happen.  Welcome Jon!

For the Selinsgrove contingent, Laird’s assistant Landon Kline also moved on after this past tax season to go into another field.  Landon has been fantastic at keeping things running and deserves a medal for his patience and persistence during tax season.  He will be greatly missed but who knows, maybe there could be annual cameos during tax season working for Laird?  Either way, all the best to Landon!

So now between myself, Jon, and Melissa, we’ve got you covered!

Personal update:

Lesley has switched jobs and is a school psychologist in the York City School District.  Believe it or not it’s actually a few minutes less of a commute than it was previously to Hershey.  Beyond the everyday blitz of working full time, parenting duties, studying for a licensing exam of her own and keeping the house meticulously clean – she has stayed mostly up to date on “The Bachelor/ette/in Paradise” goings on recently and been totally engrossed in the “Vanderpump Rules” drama (c’mon Sandoval what the heck!).  I get it through osmosis only, I swear!  I’m glad she gets a momentary escape to live vicariously through these reality shows and probably think "Well at least my life is better than theirs" - which may or may not be a compliment to me, but I choose to take it as one! ;)

We’ve done well to continue our weekly date nights usually on Wednesday's and try to get some couch time together after dinner.  We’ve recently paused our “Suits” viewing in lieu of Season 5 of “The Crown” and we’ll likely watch the most recent season of “Ted Lasso” before finishing “Suits” and the inevitable but way too long developing conclusion to the courtship of Harvey and Donna.  If newlyweds ask me for any advice, date nights are my answer.

The twins have just turned 4, yes FOUR and keep us hopping and then some.  Sometimes dropping them off to daycare/pre-school in the morning feels like I’ve already accomplished 70% of my day and anyone with multiple kids can attest that the bedtime process is more of a marathon than a sprint, especially on bath nights. 

Lenny is constantly testing all limits but that mischievous smile nearly always gets her off the hook.  She knows what buttons to press and when she’s not doing that, she’s asking more questions than her mother! 

Aggie is in general very compliant but if something isn’t just how she wants it we hear about it.  For instance, her bedside table has to have each thing in its proper place, or she won’t go to sleep.

They’ll up the ante from 2 to 4 days a week at pre-school in the fall.  At this rate it feels like next week we’ll be shopping for prom dresses.

After a long and mostly unglamorous career, I hung up the baseball spikes in August last year.  Double headers on Sunday’s are just a little too much to ask Lesley to manage on her own week in and week out.
In a fun parallel, I retired from the Twilight league as a champion (back-to-back) in 2014 and singled in my last at bat.  I retired from the Over 25 league also as a champion in 2022 and also singled in my last at bat.
With Sunday’s freed up I’ve gotten out on the golf course a few more times and I’m fine with that.  I also know me, and I am destined to be coach Ken in whatever sports/activities the girls take a liking to in the near future.

(Buried the lead)
If you are connected with me or Lesley on social media you no doubt know already, but we adopted a baby girl last September!  Jeanette Taylor Logan was born on Sept 14th, 2022, and in our arms on Sept 17th, home on Sept 28th and finally finally officially officially adopted on June 28th, 2023.  It feels strange to announce this as we were so used to keeping it a “secret” before the adoption was finalized, or at least secret from any public proclamations.

Jeanie is all smiles almost all the time.  She seems perplexed around new people until she gets comfortable and lets us hear it when you take her bottle from her for more than 0.5 seconds!  She’s been so much fun to be around.  The girls absolutely love being a big sister (although technically Lenny was already a big sister by one minute) and selfishly I’m looking forward to the time when the girl’s interest in their baby sister translates to being able to actually help watch her for short stints!

3 little girls makes me officially a “Girl Dad”.  I figure I’ve got about 6-7 years until the stuff really hits the fan.

The adoption has been a heck of a journey – and a quick one, we only put in the adoption application in January of 2022, and we’ve learned a lot through the whole process.  If you happen to know someone thinking about adopting and has general or financial questions, I’m happy to share what I’ve learned.

We've found that much like twins, nearly everyone is within 2 degrees of separation from somebody they know whom is an adopter or an adoptee.


2nd Quarter Stock Market Snapshot:

Since the last update:
-2022 was way down for stocks, bottoming Sept 30th
-All time high on the S&P 500 remains January 3rd, 2022 – 4,796.56
-2023 has been a nice rebound year so far, particularly amongst the technology stocks which have more influence on the NASDAQ index.  Combined with the positive 4th quarter your statements are starting to be less depressing finally!  I know it is a whole lot more fun to have review meetings when we’re talking about gains.

Index:                                  Close 3/31/22      Close 6/30/23      Since Last Update +/-    2023 +/-

Dow Jones Industrial Avg      34,678.35           34,407.60                 (0.78%)                  3.80%

S&P 500                                   4,530.41             4,450.38                 (1.77%)                 15.91%

NASDAQ                               14,220.52            13,787.92                 (3.04%)                 31.73%

(Source – Broadridge Investor Communication Solutions, Inc. – Quarterly Market Review: Mar 2022-Jun 2023.  Copyright 2023, Broadridge Investor Communication Solutions, Inc., All rights reserved.)

Chart reflects price changes, not total return. The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. Market indices listed are unmanaged and are not available for direct investment. Past performance is no guarantee of future results.


Introductions:
Lastly some self-promotion.  In addition to folks who have questions similar to what I am already working with you on, there are 4 other types of clients I’m looking for.  I’ll highlight one per quarter moving forward. 

Adoption
Anyone thinking about adopting or already in the process.  Any questions they have whether they are financially related or not – I’d be happy to share my experiences over the past 18 months with others.  I also learned a thing or two about some adoption nuances related to taxes, etc.  No fee/charge for anything related to adoption, it’s hard enough to go through it emotionally and financially.  My hope would be that after helping them through this journey that they would think of me for future services.

Social Media:
Connect with me for some timely posts and event news

-Now on Twitter! - @KenLoganCFP
-FB - @KenLoganCFP
-LinkedIn - linkedin.com/in/ken-logan-cfp®-1b759131

That’s it for this go round.  As always do not hesitate to reach out and I look forward to catching up with each of you soon.

Ken