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Client Focus - Jim Parsons, Viking Supply
It was the summer of 1999 and Jim Parsons needed an accountant. Jim was preparing to purchase a
business, Viking Supply, and knew he needed three key elements, a banker, an attorney and an accountant. Through working with the Homebuilder's
Association of Northern Kentucky, Jim recognized the name Mackey McNeill. After calling her up, Jim not only had an accountant, but Mackey had
given him a referral for an attorney as well!
Call it intuition, or just a gut feeling, but Jim had a head for numbers. Mackey picked up on this instantly and began working with Jim on how
to relate those numbers to growing his business. Together, they developed Key Performance Indicators (KPIs), because as Mackey always says to
Jim, "If you can't measure it, you can't manage it." Jim has come to fully understand how his "head for numbers" affects his business and now
he has the KPIs in place that help him track his success.
Always on the go with his role as President of the business and his position as track and cross-country coach for Notre Dame Academy, Jim appreciates
that Mackey is his source for current business trends and advice. "Working with Mackey over the past eight years has opened my eyes to all of
the countless items I need to be aware of to be successful. She's the expert," said Jim. This partnership has helped Viking Supply move
from a state of plateau to a constant upward trend and greater profits for the business.
Prosperity is flowing in the life and business of Jim Parsons. He works hard and loves what he does. "I feel confident about taking
risks. I certainly feel less intimidation around money as it pertains to my business. There is a flow to it all and I trust that,"
commented Jim who admits that this is a new relationship to money which has developed since working with The Advisory Team.
There is pride in running the oldest utility supply company in Northern Kentucky with the largest inventory in the area. Jim also has the most
experienced staff so that he can provide the highest level of customer service, hands down. This is also why he feels so comfortable working
with Mackey. "She's the best in the business. Just as I want Viking Supply to be highly recommended, there is no one else I
would feel more confident in suggesting to a friend or colleague than Mackey. She's hands-on, approachable and always on top of the most
current business news," shared Jim.
If you would like to know more about working with one of the friendliest guys in Northern Kentucky or how you
can catch him at an upcoming Notre Dame
Academy track meet, visit www.vikingsupply-ky.com. Jim may also be reached via email at jparsons@vikingsupply-ky.com or phone at (859)
525-8080.
by Alicia Speed
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Go Green - Six Ways to Save Water
Here are six ways to conserve water at home over the next six days:
1. Keep you drinking water cool in the fridge so that you don't have to let the faucet run while the water gets cold.
2. Take the time to finally have that leaky faucet repaired. Even if your faucet is dripping at the rate of only one drop per second, you're
wasting about 2,700 gallons per year.
3. Start a compost pile. This is good for your garden and for our water supply. Why, you ask? Well, because every time
you
put food waste down the garbage disposal, you have to let the water run for a while. You'll save water while producing top-notch soil for your window
boxes full of gorgeous spring flowers.
4. Does your shower water take ages to run hot? Use a bucket to collect those first cold gallons, then use that water to wash dishes or water
plants.
5. If you have to water your lawn, do so in the morning when temperatures are cooler and there's less wind. This way, less of what you sprinkle
on will evaporate.
6. Wash fresh fruits and veggies in a pan filled partially with water, rather than running the tap over them. Ditto for dishes--plug and
fill the sink to wash them, rather than running the tap the whole time.
And on the seventh day, we'll let you rest. Thanks for all your hard work!
by Alicia Speed
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News You Can Use - Housing Market
There's no doubt this can be an unsettling time for people who purchased a home in the past couple of years and possibly paid top dollar. The
good news is if you bought your home for the long-run, you really don't have much to worry about. Real estate markets, like the stock market,
are cyclical. If prices go down in your area, they will eventually turn higher, unless your local economy is hit by major job losses.
Here in the Cincinnati area we benefit from not having seen the inflation of our housing prices to the extent of others cities.
However, if you plan to sell this year or next, you could be in for a challenge to get the price you want. You'll need to aggressively market your
home and possibly be flexible on the price you're willing to take. Buyers also like appliances left behind, neutral décor, and help
with closing costs. If nothing else, you might be best off delaying your move.
by Andy Pulsfort
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Practical Prosperity - John & Mary Smart
Surprising to most, the majority of millionaires have achieved their goal by steadily saving over the years
rather than winning the lottery or making enormous salaries. For example, a friend of mine's grandfather started out as a modest saver
when he married his young bride. They were committed and each week they put $10 in a savings account. As his income grew, so did their
savings. For 50 years, my friend's grandfather saved and never made more than a lower-middle class salary. At retirement, he and his wife
retired with a million dollars in the bank. This is a true example of "staying the course."
Twice a year we host a prosperity seminar series at our office. During this seminar, we use the example of John and Mary Smart. We tell
our clients and friends the story of two fictitious investors who "stay the course." The story serves to exemplify how having a plan and
sticking to it can create the prosperity that you want. It's a simple tale to which we can all relate.
John & Mary Smart began saving in their early thirties. Their financial advisor told them to automatically invest from their checking account
each month regardless of the market's current state. As a young, growing family, there were months when cash was a little tight and they could
feel a pinch from their savings plan. Still, they knew that according to their plan, this was what they wanted to save in order to have a nice
retirement and college savings accounts in the future. Having a great relationship with their advisor, they never questioned their plan until
one year at a holiday party.
One of Mary's coworkers had been investing for two years in an offshore company. His money had grown threefold and he was doing much better
than John & Mary. A few weeks later at their annual investment portfolio review, John & Mary asked their advisor why they weren't invested in
such a successful investment. Their advisors had them repeat together three little words: "Stay the course!" They were informed that
sticking to their diversified and steadily growing investment plan would get them where they wanted to be in the end.
Later down the road, John & Mary began to see something increasingly satisfying about their investments. While they were saving the same amount
as always and the stock market was performing no differently, their investments were growing faster and faster. A quick call to their advisor
informed them that they were now beyond the point of being "one to one". What this meant was that there was enough money saved that it was
earning more return each year than they were putting in. It was time for a meeting with their advisor to ensure their asset allocation and
investment selection was in top shape because their money's return now had more impact than their saving discipline.
At this meeting, some 15 years into their savings plan John & Mary realized that while they were a long way from meeting their retirement goal, they
could see how it was going to be achievable. John & Mary certainly learned a lot during their investing years. Some pieces of knowledge
came from having a trusted advisor, and others came from simply "staying the course" and watching their money work harder and harder.
Here are the lessons contained in the example of John & Mary Smart:
1) Invest a set amount every month from your bank account.
This ensures you are always buying into the market whether it is high or low. The automatic investment
feature means the action is effortless.
2) Diversify your portfolio to have many asset classes and exposures.
Each quarter a certain sector or market will always outperform the rest. By diversifying you guarantee
some exposure to that certain sector.
3) Rebalance your portfolio annually to avoid overexposure in any one
economy or sector.
Reset things annually to encourage yourself to buy the under-performing sector when it is affordable, and
minimize your exposure to loss during the next economic turn down.
4) Listen when a neighbor, business associate, or investment advisor says to
"Stay the
course."
We tell children, new employees, and students to take their time, make the best choices possible, and remain
committed. Your investment success will require all the same disciplines in order to meet your goals successfully.
In summary for all future investors, current investors, and lifelong investors reading this month I have this
tip. Be reasonable, prudent, selective, and practical in choosing your investment plan and products. Careful research, ongoing patience,
and an open dialogue with your investment advisor will make you all the wiser and your pockets all the greener.
by Andy Pulsfort
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Calling All Open Minds - The Extraordinary
Driving through North Georgia as dawn came, the sky turned pink like cotton candy. Further down the
road, the sea of pink melted into a semi circle of blazing orange blanketed on either side by the blue, pink and orange shaded haze of the Blue Ridge
Mountains. What had begun as an ordinary morning had turned extraordinary.
Ordinary: not exceptional in any way especially in quality or ability;
Lacking special distinction, rank, or status; commonly encountered
Extraordinary: beyond what is ordinary or usual; highly unusual or exceptional or remarkable
Each moment has seeds of the extraordinary. As the witness to our lives, we have choice in each moment. Choice to experience the ordinary
or to change perspective and cultivate the seed of the extraordinary. Perspective is the key.
On a recent trip to see a long time friend, I was fully present as I walked in the door. As I approached my friend, I was struck by the
radiance emanating from her face. It was like I was seeing her for the first time. This was a face I had seen for forty years, and that
day, I saw it differently. I saw her spirit, not just her face. I could not tell you what she was wearing that day, but I will never
forget the glow on her face. How many times had I seen it, but not really been present to it? The difference was in my
perspective.
By simply approaching the situation differently, our experience is
shifted.
How can you shift your experience of your financial life from ordinary to extraordinary?
First, start with an inventory of your blessings. Notice how many things are extraordinary that you
treat as ordinary in your daily life, such as clean drinking water from your faucet or instant world access through the internet.
Once you really begin to notice all your blessings, it is quite a humbling experience.
Once your inventory is done, next make a list of what is not working in your life. Here are some examples:
- over extended credit card debt
- difficulty enjoying the financial prosperity you have accumulated
- no financial plan outlining how to achieve future goals
Step three, make a list of what is missing that would change what is not working into the extraordinary. Do
you need an accountability partner
relative to using your credit cards? Or if your challenge is enjoying your wealth, do you need to set a goal for yourself to purposefully spend money
on something extravagant? Something not at all practical? If you don't have a plan for your future, what steps do you need to take to find a
Financial
Planner you trust?
Step four, prioritize your list and make time for action. Here is a quick summary to get you
started:
- Write down a list of your extraordinary blessings
- Make a list of what is not working
- Look to see what you need to do to shift what is not working into an extraordinary blessing
-
Prioritize and take action!
Lastly, resist the temptation to skip directly to step 2. The perspective offered from step one, alters
your experience of the process.
As always, remember that you are wildly prosperous!
by Mackey McNeill
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Buy the Book
The Intersection of Joy and Money exposes the fantasies and illusions that sabotage your money life,
and then offers a step-by-step guide to create a life of prosperity and abundance. To purchase your copy of The Intersection of Joy and
Money please click here.
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Hear Me Speak
This month I will be a facilitator for the Top Tier Leadership program hosted by the Northern Kentucky Chamber of Commerce. I will present
a four hour
workshop on Cultivating a Culture of Prosperity in Your Organization.
Cultivating a Culture of
Prosperity in Your Organization is also a one hour presentation that I am offering gratis to organizations in the area who want to be part
of the wave of prosperity being manifested. If you have a group or know of someone who might be interested, please send me an email. The presentation will only be free
for a limited time as I am honing my skills to use this as a national talk.
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Employment Opportunity
On everyone's list of innovative companies, The Advisory Team, LLC, CPA's and Business Advisors needs
a top
notch Senior
Accountant
to add to our Shared Controller and Accounting services team. The person selected will be an integral part of our team approach to client
service.
To apply for this position, please send your cover letter and resume to Alicia Speed, our Human Resources staff person.
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