Next Level Articles
Lifestyle & Personal
Five Ways to Stay Secure Online
Five Ways to Stay Secure Online One of our priorities is protecting your personal information, which is why we wanted to share advice that may help keep your finances secure. There are certain things we can do at least once a year to ensure that our financial lives stay on track, including filing your taxes or reviewing your estate and financial plans. As we head into the second half of the year, consider taking steps to secure your finances in the digital realm as well, so you don’t become a victim of identity fraud. Here are five ways to help protect your information online, as recommended by the Federal Trade Commission: Beware of scams Never give out your information over the internet, phone or by mail, unless you’re sure about who will be receiving it. The “Prince of Nigeria” is alive and well and looking for easy targets. So, if it seems too good to be true, investigate first! You can learn about the latest scams by visiting usa.gov/common-scams-frauds. Additionally, if you receive an email from a company and are unsure if it’s legitimate, consider double-checking the validity of the company by closing the email, opening a new browser, searching for their official sites and contacting them through their customer service. Dispose of your personal information privately Be sure to securely shred or delete sensitive documents and information. Wiping your retired electronics of all information before you dispose of them can also help prevent identity fraud. Get creative with passwords Create a strong password using more than six characters, a mix of letters and numbers, both upper and lowercase letters, and punctuation marks, such as exclamations. Avoid using your pet’s name, date of birth or other easily identifiable personal information. Secure your browser If you want to ensure your browser is secure, look for “https” at the beginning of the web address (the “s” stands for “secure”). Only access your accounts using networks and computers that you know are safe. Stay sly on social media Review your privacy settings on each site and enact privacy measures you’re comfortable with. Consider omitting your date of birth or full name from public online forums and limiting who can view your profiles. These five steps can help protect your private information online. To learn more about safeguarding your digital life, visit consumer.ftc.gov.
Investments
Is NOW the Right Time to Take Action?
Is NOW the Right Time to Take Action? Market volatility brings out a range of emotions—uncertainty, fear, even paralysis. When those emotions take over, the default response for most people is to do nothing. That feels safe. It feels rational. But over time, it can actually be the costliest move you could make—especially emotionally. Psychologists Thomas Gilovich and Victoria Medvec coined the term “inaction effect” back in the ’90s. They found that while people might initially regret mistakes from taking action, the regret that lingers the longest usually comes from the things they didn’t do. This plays out in investing all the time. Rarely do people say, “I wish I hadn’t invested back then.”What they say instead is, “I wish I had done something when the market was down. Here’s the real talk: Every market dip feels like “maybe this is the big one.”Spoiler: it rarely is. See in the below data—only 6 out of the last 99 years have dropped more than 20%, and half of them were in the 1930s. While most people are refreshing headlines and debating whether to “wait it out,” a few others are taking action—not flashy, but smart, boring, compounding decisions that their future selves will appreciate. So what does smart action look like right now? Glad you asked. Here are 4 moves that aren’t fancy but work: Rebalance your portfolio.When markets move, your portfolio shifts. Rebalancing gets you back to your target allocation, which usually means buying what’s gone down and trimming what’s gone up. It’s a built-in system for buying low and selling high—no prediction required. For retirees, this can be especially powerful—it’s a disciplined way to stay invested while still “buying in” during down markets, even if you’re not putting in new cash. Put your cash to work (slowly).Trying to time the bottom is nearly impossible. But if you have cash on the sidelines, consider dollar-cost averaging into the market over a few months. It spreads out the risk and keeps you from sitting in cash too long. Tax-loss harvest.If you’re holding investments at a loss, you can sell them, take the tax loss, and reinvest in a similar holding. This doesn’t change your market exposure, but it can reduce your tax bill—now and in the future. Convert to Roth while it’s on sale.When values are low, you can convert more IRA dollars to Roth for the same tax cost. You’re pre-paying the IRS today so future-you gets tax-free growth forever. That’s a trade you want. The Bottom Line: When we look back, we don’t regret the small missteps.We regret the missed steps. Taking the right action during uncertainty doesn’t feel good in the moment.But it’s usually the seed of your biggest financial wins. Most people will wait for things to “feel better.”The people who win?They move before it does.
Lifestyle & Personal
Recommended Reading
Recommended Reading: A Curated List From Our Advisors As financial advisors, the team at Next Level Wealth Planning is not only committed to helping you manage your wealth, but also to providing you with the tools and knowledge you need to make informed decisions about your financial future. One of the most effective ways to gain insight into the world of personal finance and investing is through reading. We’re sharing a selection of books that have had a profound impact on our team of advisors. Each of these books offers valuable lessons on everything from mindset and behavior to wealth-building strategies. Whether you’re new to financial planning or an experienced investor, these recommendations are sure to provide great insight and advice. Great Reads for All Investors: The Psychology of Money by Morgan HouselThis book explores the emotional and psychological factors that shape our financial decisions. Success in finance isn’t just about knowing the numbers; it’s about understanding how our behaviors, biases and personal experiences influence how we manage money. The Psychology of Money is a great read for those looking to improve their mindset to make more informed decisions about their wealth. The One-Page Financial Plan by Carl RichardsThis book simplifies the process of creating a financial plan by focusing on key goals and values that matter most. Whether you are just starting out or reevaluating your current situation, this book will help you prioritize what’s important and align your finances with what matters most to you. The Behavior Gap by Carl RichardsAnother book by Richards, this focuses on the emotional barriers that often prevent people from making smart financial decisions. The Behavior Gap is perfect for anyone who has struggled with impulse spending, poor investment decisions or emotional financial decisions. The Thin Green Line by Paul SullivanThis book shows how you can make better financial decisions—and come to terms with what money means to you. Simple Wealth, Inevitable Wealth by Nick Murray This book lays out a practical long-term strategy for working with an advisor to achieve real wealth in equities. Great Reads for Retirees: Values Over Valuables by Harmon KongThis book is a thought-provoking and deeply practical guide to rethinking the role of wealth in our lives Die with Zero by Bill PerkinsPerkins challenges the conventional notion of saving every penny for retirement. Die with Zero advocates for balancing spending with saving and that the true goal of wealth should be to maximize life experience rather than accumulate wealth for the sake of accumulating it. Great Reads for Young Investors: I Will Teach You to Be Rich by Ramit SethiSethi provides actionable advice on everything from managing credit cards and savings to investing in stocks and real estate. His approach is designed to make managing money fun, accessible and easy to understand. Rich Dad Poor Dad by Robert KiyosakiIn this book, Kiyosaki contrasts the financial philosophies of two dads- his biological father (Poor Dad) and his best friend’s father (Rich Dad). He teaches the importance of financial literacy and is ideal for those who want to challenge their preconceived notions about money and learn to think like an investor. Cash Flow Quadrant by Robert KiyosakiThis expands on the concepts introduced in Rich Dad Poor Dad, focusing on the four types of people who makes up the “Cash Flow Quadrant”: Employees, Self Employed, Business Owners and Investors. Kiyosaki explains the different mindsets and behaviors that accompany each quadrant and shows how shifting from one quadrant to another can lead to greater financial freedom. At Next Level Wealth Planning, we believe that financial education is a lifelong journey. The right mindset and knowledge are critical to making informed, successful financial decisions. Whether you’re working on building wealth, planning for retirement, or simply trying to understand your finances better, the books listed above are invaluable resources. Happy reading!
Cash Management
New Year, New Financial Resolutions
New Year, New Financial Resolutions: Setting Yourself Up for Success January marks the beginning of a new year, making it an ideal time to reflect, reset, and refocus on your financial goals. Whether you’re looking to grow your savings, pay down debt, or invest more strategically, now is the time to set the tone for a successful year. Here are some actionable tips to get started: 1. Take Stock of Your Financial Situation Begin by reviewing your current financial landscape. Assess your income, expenses, debts, and savings. Understanding where you stand is the first step toward making meaningful progress. Learn more about our process here. 2. Define Your Financial Goals for the Year What do you want to accomplish in 2025? Setting clear, SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound) will give you direction and purpose. Examples include: Saving $15,000 for a down payment on a home by December. Paying off $7,500 in student loans by June. Contributing the maximum allowable amount to your IRA or 401(k). 3. Refresh Your Budget A new year calls for a fresh look at your budget. Adjust for any changes in income or expenses and ensure your spending aligns with your priorities. 4. Build or Boost Your Emergency Fund If you don’t already have an emergency fund, make it a top priority. Aim to save at least three to six months’ worth of expenses to protect yourself against unexpected events like medical bills or job loss. 5. Optimize Your Tax Strategy Take advantage of tax-advantaged accounts like 401(k)s, IRAs, and HSAs. Contributing to these accounts can reduce your taxable income while helping you save for the future. Start early to maximize your contributions throughout the year. 6. Focus on Debt Reduction High-interest debt can be a significant obstacle to achieving financial freedom. Consider using the snowball or avalanche method to tackle debt strategically. Set a goal to pay off a specific amount by year-end. 7. Review and Update Your Financial Protection Ensure your insurance policies are up-to-date and provide adequate coverage. This includes health, life, auto, and homeowners insurance. Additionally, review your estate plan and beneficiaries to ensure everything aligns with your current wishes. 8. Track Your Progress Regularly Schedule monthly or quarterly check-ins to monitor your progress. Adjust your strategies as needed to stay on track and maintain momentum throughout the year. Partner with a Financial Advisor The start of the year is an excellent time to consult with a financial advisor. Whether you need help setting goals, creating a plan, or optimizing your investments, an advisor can provide the expertise and accountability you need to succeed. Let’s make 2025 the year you take charge of your financial future. Reach out today to Next Level in Meridian to discuss your goals and build a personalized roadmap to achieve them. Together, we can turn your resolutions into reality. Contact us today to get started! Have questions? Let’s talk. Contact Us
Perspective & Insight with Jake
Moments In Time
Greetings, Jake here. It’s that time of the year when we start to think about how fortunate we are to have the freedoms we enjoy and gratitude for our blessings. Not everything is perfect in the world, but we are fortunate for so many things. Recently I’ve been looking at family pictures, both from my childhood and present with my own family. I’ve discovered that there are “Moments in Time”, if I could only go back to that time, and freeze it, I would. Pictures tell stories. Below is a picture of an evening in July with my son. He was catching more fish than I was that night (that’s normal) but this photo represents such a fond memory and when I look at it, I can remember vividly the fishing and camping trip. It’s remarkable how smells, tastes, sounds, songs, and pictures can transport us back to a time in our life. I would encourage you to take a moment during the holidays and go back through photos, past and present…it’s incredible the feelings of love, longing, and gratitude that can surface while taking a visual walk down the lane of history. James Barry, the author of Peter Pan, wrote “God gave us memories so that we might have Roses in December”. It’s fun to look at past photos and experiences, which leads me to ask myself, “what new experiences am I going to create”? What “moments in time” will you create that you’ll want to freeze? I would encourage you, no matter your circumstance, think of one (or many) things you want to accomplish in the next year. Make it fun, exciting, dream a little. Have you always wanted to learn something? Is there someone you want to connect with? Someone you can help? A place you want to travel? A few years ago I was visiting a client in the hospital who passed soon after our visit. As I walked into the hospital that day, a picture frame in the gift store caught my eye. Curiously I walked over, and for the first time I read, “The trouble is, you THINK you have TIME.” This statement made an immediate impact on my life. I purchased the frame and I have it displayed in my office as a constant reminder to be proactive in creating experiences with my family, friends, and those I want to spend time with. I hope that each of you will be proactive in creating additional “moments in time” so that you may have Roses in December.
Perspective & Insight with Jake
Navigating Thunderstorms | Investment Advisor Perspective & Insight
Greetings, Jake here. In Idaho, summer thunderstorms blow into the valley. The dark clouds threaten from the southwest and gather momentum. These unwelcomed storms show up unannounced, bringing with them high winds, lightening, and a chance of forest fires in the mountains. These storms would often arrive with a downpour of rain, but it came with a price. When my sons were younger, these storms didn’t scare them. They saw it as an opportunity to grab an umbrella, dash outside (often barefoot) to the nearest flooded area to play. Peter Lynch, who was a famed money manager at Fidelity Investments, once said, “The key to making money in equities is not to get scared out of them”. To put things in perspective, on average, a stock market correction (defined as a decline of -10% or more), blows in every year. Bear Markets (defined as a decline of -20% or more) have occurred on average every 5 years since 1946. Why does this matter? It provides context that corrections and bear market declines are a routine part of investing. We can’t get scared out of them. My point isn’t to trivialize or make light of our current economic circumstances, just to give perspective. Morgan Housel, in his book, The Psychology of Money, writes, “Like everything else worthwhile, successful investing demands of us a price…It’s volatility, fear, doubt, uncertainty, and regret – all of which are easy to overlook until you’re dealing with them in real time.” If you’ve felt any of these feelings recently, you are not alone. When we’re in the middle of a bear market, some investors are consumed with pessimism. They may start to feel that the market will never rise again, that their losses will only deepen, that the storm will last too long. Reminder, the storm will pass, followed by blue skies and wonderful summer days. In fact, every single bear market decline in US history has been followed by a bull market, without exception. This time will not end any different. With Next Level as your trusted Investment Advisors, we will navigate the months ahead, together.
Perspective & Insight with Jake
Next Level
Greetings, Jake here. I strive to improve and get better. I often fall short of my goal, but I enjoy the challenge. It’s in the doing, not the sitting that I love. You’ll often find me listening to a podcast or reading a book. I search out ways to gain knowledge. The desire to get better was rooted from a young age. My father was an athlete, a coach, a high achiever. I’ve spent my life competing, playing sports, keeping score. I’m no longer concerned about wins and losses. As I evolve (that’s a nice way of saying “as I get older”) my focus changes. For me, it’s not about the score, it’s about growth. Next Level is defined as; a better, more advanced, or more successful situation than before. I believe, whatever your Next Level is, it’s very personal to you. This idea is not about doing better than your neighbor, or having more success than a friend, co-worker, or family member. It’s not about having more. It’s about progression. Recently my client realized her dream. It wasn’t more money. Through proper financial planning, I encouraged and supported her to take action – she gained confidence to create a charitable foundation, funding a cause that she loves. Her next level wasn’t something she received; it was something she gave. Through the years, people have shared with me where they want to be better; create meaningful connections, reduce phone time, be more present, go on more vacations, spend time with friends, automate savings, be more aware of their spending.