Ken's 3rd Quarter 2023 Update

October 18, 2023

The old adage of parenting that “The days take forever but the weeks fly by” rings truer and truer as time goes on.  Somehow here we are in October already and hope the fall has started off well for you!


Business update:

You should see some updates on the layout to your statements from LPL.  Also, most have been switched to a quarterly cadence but if you’d like to go back to monthly just let me know.  Lastly when logging into your online access you’ll notice a few changes that make things a little easier to read.  If you still need to setup online access just give us a shout.

Another personnel change coming up this quarter as Melissa, being so dang good at what she does, got a great offer somewhere else and will be leaving to pursue that come Thanksgiving.  It was only a year with Melissa on the team part-time but it feels like longer.  I’ll still be seeing her at the Central PA Financial Planning Association meetings and board meetings.  Jon and I will be taking on her responsibilities for the intermediate term.  Thanks Melissa!

Jon has come up to speed incredibly quickly and in just a few short months he has become proficient at several of the things it takes to do this job.  He is now through 2 of his 4 exams to become a licensed financial advisor and once he’s got that under his belt he can begin to bring on his own clients while he continues to support my/our business.  I’m looking forward to mentoring him through the peaks and valleys of starting up his business all the while continuing to rely on him to keep us running at peak efficiency!

Nathan is our intern working in Selinsgrove – he’s a 3rd year at Susquehanna University and I’m happy to continue the 7-ish year tradition of having a SU baseball player as an intern here.  He worked with Laird last year as well.  Nathan will be doing a lot of our “data mining” and starting a big multi-year project of eliminating paper records where possible.  That’s right, we’re going digital!  Rest assured we are not uploading client information to anything cloud based and will have everything saved in 3 locations while keeping your information secure. 



Personal update:

Getting 3 kids under the age of 5 out the door in the morning should be an Olympic sport.  Stay with me.  There are already a bunch of sports with judges that give scores and this event could be scored by a combination of patience (subjective via judges) and speed (an objective timer).  The preliminaries would be a typical morning, so just get them fed, dressed, hair brushed and all that and to their destinations on time - all while also getting yourself ready to take on the day.  Then in the medal round they add in a spouse who has a mean tardy streak herself (😉) and 6 different medications to administer to squirmy children – thanks fall cold season!  So yeah, that’s how things are going!

For some extra fun and adventure, this past quarter Lesley got rear ended on the way to work and they totaled the van.  Most importantly she was the only one in the car and she’s fine, but now we’ve got a nice brand new minivan even if we didn’t want one just yet.  Much like getting my car after Jeanie arrived last year we got really lucky and the right car showed up at the dealer just in time when we needed it.  A silver lining is the gas mileage is about 84% better in the new one so that eases the sting a bit.
On a related note, I’ve heard a rumor that a second Olympic sport debuting in Los Angeles 2028 is a fearsome event called “Switching Car Seats”.  Upon further research I found that this score is a combo of 3 parts:  speed, how secure the seats actually are when finished, and a third subjective part from the judges but this time based the Olympian’s demonstrated frustration level.  Curse words would be an automatic point deduction and safe to say I would not have made it past the USA trials!  I must have done it 15 times exchanging between whomever needed to take the girls somewhere and the rental van and the new van.  You would think I’d consider myself a pro by now but between the different car-seats and the different seats-in-the-car each install is never quite the same.  The next time I have to change a seat out will be too soon.

Kidding aside, from a 10,000 foot view things have been well in the life of the Logan’s.

-Jeanie is now 13 months and still mostly smiles and has even started cuddling with us a little more.  Awww.  She hasn’t felt the need to start walking as she’s pretty quick doing a modified crawl on her hands and feet – no knees on the ground!

-Aggie and Lenny are getting more excited by the day for our upcoming trip to Disney.  Dad is too focused on logistics to get excited but is sure we’ll all have enough smiling happy memories to justify the effort.  Typically one is quiet and the other is loud and they alternate whom that is a lot but I think I would give Lenny the nod on which one is louder on average.

-Lesley is still understandably a little apprehensive behind the wheel after the collision but apart from that she continues on with getting everything done that needs done under each of the many hats she wears and yet still thinks to ask me how I’m doing?  Keeper.

-As for me I’m enjoying the hot start to the year for the Spurs (that’s the Tottenham variety) as they are top of the table until at least Oct 21st!  Still 30 of 38 matches to go on the season but just let me have these two weeks.  I’ve been heading over to our new local “Spurs Bar” – even for 7:30am matches!  We’ve had as many as 80 Spurs fans for matches at the new location this season already and it’s been a blast.  I think we had 20-25 folks there for the last 7:30 match.  Who knew Harrisburg had such a Tottenham following?


3rd Quarter Stock Market Snapshot:

Believe it or not, last quarter was the first down quarter since Q3 2022 for US stock markets, and all 3 major indices are still positive for the year.
That said, there is still a good bit catching up to do to get back to the all-time highs from Jan 3, 2022.  The S&P 500 high is 4,796.56 for reference.


Index:                                  Close 6/30/23      Close 9/29/23      Since Last Update +/-    2023 +/-

Dow Jones Industrial Avg      34,407.60           33,507.50                 (2.62%)                    1.09%

S&P 500                                   4,450.38             4,288.05                 (3.65%)                   11.40%

NASDAQ                               13,787.92           13,219.32                (4.12%)                    26.16%

(Source – Broadridge Investor Communication Solutions, Inc. – Quarterly Market Review: Jan 2023 – Sep 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.


5 Things I’m Watching in the 4th Quarter:

1 – 10 year treasury rates
2 – Middle East situation
3 – Price of Oil
4 – Appearance/Extent of the “Santa Claus Rally”
5 - COYS


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. 

The Family Meeting
As the holidays approach I have one thing for you to keep in mind when gathering with family:  The best legacy family members can leave to their loved ones is a well communicated aging plan.  This is a really tough conversation to have or to even work up the courage to think about, but I can’t emphasize how important it is that siblings/family aren’t fighting about “What Mom & Dad would have wanted”.  While nobody can plan for every scenario, a general conversation about some common eventualities goes a long way.
 
I offer to help prepare and facilitate these meetings for my clients and their family so that everyone is on the same page, and I do that pro bono.  My “payment” is twofold – first the satisfaction that when tough times hit they may be a little easier to navigate due to the preparation we did and second that if I’m in that family meeting I will likely have met some new family members.  Should they have a financial question or concern down the road they might think of me.
 
Social Media:
Connect with me for some timely posts and event news.  I’ve sent out a few Facebook invites to clients recently so if you get one don’t think I’ve been hacked.  Maybe I’m not smart enough but the only way I can figure out how to ask you to follow my business FB page is to be personal friends first.  As a side bonus that is a good way to sneak some pics of the girls now and again!

X (Twitter) - @KenLoganCFP
FB - @KenLoganCFP
LinkedIn - linkedin.com/in/ken-logan-cfp®-1b759131

Yep, 4th page in Word again.  Better cut it off now!  As always do not hesitate to reach out and I look forward to catching up with each of you soon.

Ken


This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions.

Jones Financial Group is not affiliated with LPL Financial Holdings, Inc.