Next Level Articles
Retirement Planning
How Much Money Do You Need to Retire in Idaho?
Here’s How to Find Your Number If you’ve ever searched, “How much money do I need to retire in Idaho?” you’re not alone. It’s one of the most common questions people ask as retirement gets closer. The answer may surprise you: there isn’t one magic number. You’ve probably seen headlines claiming you need $1 million, $2 million, or even more to retire comfortably. While those figures grab attention, they don’t tell the whole story. Two couples living in Meridian with the same retirement savings could have very different financial needs depending on their lifestyle, income sources, healthcare expenses, and long-term goals. Rather than focusing on someone else’s number, it’s more helpful to understand the factors that determine your retirement number. 1. The Lifestyle You Want in Retirement The biggest factor in determining how much you’ll need isn’t where you live—it’s how you want to live. Ask yourself: Do you hope to travel frequently? Will you stay in your current home or downsize? Do you plan to help children or grandchildren financially? Would you like to pursue hobbies that require ongoing expenses? Are you considering part-time work during retirement? Retirement can be as active or as simple as you choose. Your lifestyle will have a much greater impact on your retirement needs than any average savings goal. 2. Your Monthly Spending Matters More Than Your Account Balance Instead of asking, “How much do I need to save?” consider asking, “How much will I spend each month?” Common retirement expenses include: Housing Utilities Groceries Healthcare Insurance Transportation Home maintenance Travel and recreation Charitable giving or family support While some expenses—such as commuting or retirement contributions—may decrease, others, including healthcare and travel, may increase. Understanding your expected monthly spending provides a much clearer picture than focusing on a single savings target. 3. Retirement Income Comes From More Than Your Savings Many people assume they’ll rely entirely on their retirement accounts. In reality, retirement income often comes from several sources. These may include: Social Security benefits Retirement accounts such as 401(k)s and IRAs Investment accounts Pension income Rental property income Part-time employment The question isn’t simply, “How much have I saved?” It’s, “Will my income support the lifestyle I want throughout retirement?” That’s an important distinction. 4. Healthcare Is One of the Biggest Unknowns Healthcare is often one of the largest expenses retirees face. Even with Medicare, retirees may still have costs related to premiums, prescriptions, dental care, vision care, or long-term care needs. Planning for these expenses early can help reduce surprises later. A retirement plan should account for healthcare alongside everyday living expenses—not as an afterthought. 5. Retirement Could Last 25 to 30 Years—or Longer Today’s retirees are living longer than previous generations. That means your savings may need to support several decades of spending while keeping pace with inflation. A retirement plan should consider not only your needs during the first few years of retirement but also how your income and investments may need to adapt over time. What Makes Retiring in Idaho Unique? Idaho continues to attract retirees because of its natural beauty, outdoor recreation, and strong sense of community. At the same time, retirement costs can vary significantly depending on where you live. For example, housing costs in the Treasure Valley may differ from those in other parts of the state. Your proximity to family, healthcare providers, and the activities you enjoy can also influence your retirement budget. While state taxes are one consideration, they are only one piece of a much larger financial picture. A well-designed retirement plan looks at income, investments, taxes, healthcare, and spending together. Online Retirement Calculators Are a Helpful Starting Point Retirement calculators can provide a useful estimate, but they often rely on assumptions that may not reflect real life. Most calculators can’t account for: Changes in spending over time Market volatility Unexpected healthcare costs Tax-efficient withdrawal strategies Different Social Security claiming options Your personal retirement goals That’s why two people with identical savings balances can have very different retirement outcomes. A Better Question to Ask Instead of asking: “How much money do I need to retire?” Consider asking: Will my retirement income support the lifestyle I want? Am I on track to retire when I hope to? How can I make my savings last? How should I coordinate Social Security with my retirement accounts? What steps can I take today to strengthen my retirement plan? These questions often lead to more meaningful answers than focusing on a single dollar amount. The Bottom Line There isn’t a universal retirement number that works for everyone in Idaho. Your ideal retirement depends on your lifestyle, spending, income sources, healthcare needs, and long-term goals. While savings are certainly important, they’re only one part of the equation. The most valuable retirement plan isn’t built around an arbitrary number, it’s built around your life. If you’re wondering whether you’re on track for retirement, taking the time to create a personalized retirement plan can provide clarity and help you make informed decisions for the years ahead. Get started today.
Retirement Planning
Am I Ready to Retire? 6 Financial Checks to Review
Planning for retirement often comes down to one important question: Am I truly ready? The answer involves more than a number. It requires a clear view of your savings, income strategy, debt, healthcare planning, and long-term goals. This retirement readiness self-assessment is designed to help you evaluate where you stand and identify the next steps to strengthen your financial future. At Next Level Wealth Planning, we specialize in retirement planning and comprehensive financial planning as fee-only fiduciary advisors. Our goal is to help you move from uncertainty to confidence with a clear, personalized strategy. Retirement Savings Benchmarks: Are You on Track? A strong retirement plan begins with understanding how your current savings compare to general benchmarks by age: 30 years old: about 1× your annual salary 40 years old: about 3× your salary 50 years old: about 5 to 6× your salary 60 years old: about 8 to 10× your salary These guidelines provide a starting point for effective retirement planning. The real focus should be on consistency and strategy. Ask yourself: Are you maximizing contributions to your 401(k) or IRA? Are you taking full advantage of employer matching? Is your investment strategy aligned with your timeline and risk tolerance? If you are behind, a structured financial planning approach can help you adjust contributions, optimize investments, and get back on track. Debt and Retirement: How Much Is Too Much? Debt can limit your flexibility in retirement and increase financial stress. Reducing or eliminating debt is a key part of retirement planning. Focus on: High-interest credit cards Personal loans Auto loans Mortgage balance and repayment strategy Important questions include: How much of your income is going toward debt payments? Can you realistically pay off major debt before retirement? Would downsizing or refinancing improve your situation? As fee-only fiduciary advisors, we help prioritize debt reduction strategies that align with your long-term financial goals without sacrificing growth. Income Replacement Ratio: Will Your Retirement Income Be Enough? Your income replacement ratio is one of the most important components of retirement planning. It estimates how much of your pre-retirement income you will need to maintain your lifestyle. General target: 70 percent to 85 percent of your working income Consider all income sources: Social Security Investment accounts such as 401(k)s and IRAs Pension income if applicable Passive income streams Ask: Do you know how much income your portfolio can generate? Have you accounted for inflation over time? Do you have a sustainable withdrawal strategy? We build customized income strategies designed to provide stability, tax efficiency, and long-term sustainability. Healthcare Planning in Retirement Healthcare costs are one of the most significant expenses in retirement and are often underestimated. Key considerations: Medicare does not cover everything Supplemental insurance may be necessary Long-term care can be a major expense Evaluate your readiness: Have you estimated healthcare costs in retirement? Do you have a plan for long-term care? Are you using a Health Savings Account if eligible? A proactive financial planning strategy helps ensure healthcare expenses do not derail your retirement goals. Lifestyle Planning: What Will Retirement Look Like? Your retirement lifestyle directly impacts how much you need to save and spend. Consider: How you will spend your time Whether you plan to travel or relocate If you will work part-time How your spending habits may change Clear lifestyle goals make your retirement planning more precise and actionable. Risk Management and Long-Term Planning A well-designed retirement plan includes flexibility and protection against uncertainty. Important elements include: Emergency savings outside of retirement accounts Diversified investment portfolio Planning for longevity and market changes We incorporate risk management into every financial plan so you are prepared for both expected and unexpected events. Turn Your Retirement Checklist Into a Personalized Plan This retirement readiness checklist provides valuable insight, but true confidence comes from turning these answers into a clear strategy. At Next Level Wealth Planning, we act as fee-only fiduciary advisors, which means our advice is always aligned with your best interests. We provide comprehensive financial planning and retirement planning tailored to your unique goals, income needs, and lifestyle vision. We help you: Clarify your retirement timeline Optimize your savings and investment strategy Create a sustainable income plan Plan for taxes and healthcare costs Stay on track with ongoing guidance Final Thoughts on Retirement Readiness Retirement readiness is not about guesswork. It is about having a clear, well-structured plan built around your life. By evaluating your savings, debt, income strategy, and lifestyle goals, you take the first step toward financial independence. The next step is working with a fiduciary financial advisor who can turn that clarity into action. We are here to help you build a retirement plan that supports your goals, protects your future, and gives you confidence in every stage of life.
Financial Planning
Financial Peace of Mind
At Next Level Wealth Planning, we often meet people who are doing many things right financially but still feel uncertain or stressed about money. That feeling points to something deeper than numbers on a statement. It reflects the need for true financial peace of mind. For individuals and families in Meridian, ID searching for trusted financial advisors, understanding how to create that sense of clarity and control is just as important as building wealth itself. What Is Financial Peace of Mind? Financial peace of mind is the confidence that your financial life is organized, intentional, and aligned with your goals. It means you: Know where your money is going Feel prepared for unexpected expenses Have a clear path toward retirement Are not constantly worried about financial “what ifs” It is less about hitting a specific net worth and more about having a plan you trust. Why So Many Americans Feel Financial Stress Despite access to more tools and information than ever, many Americans still struggle with money anxiety. There are a few key reasons: Lack of a clear planWithout a structured retirement planning or wealth management strategy, it is easy to feel like you are guessing your way forward. Inconsistent savings habitsSaving often becomes reactive instead of proactive, which makes long-term progress harder. Unexpected expensesWithout an emergency fund, even small disruptions can create significant stress. Overwhelming financial choicesFrom investment options to insurance products, too many decisions without guidance can lead to inaction or second-guessing. Actionable Steps to Reduce Financial Stress The good news is that financial peace of mind is not out of reach. Small, consistent actions can make a meaningful difference over time. 1. Automate Your SavingsOne of the simplest ways to build momentum is to remove the need for constant decision-making. Automating contributions to savings and investment management accounts ensures consistency and helps you prioritize your future. 2. Build an Emergency FundAim to set aside three to six months of essential expenses in a dedicated account. This creates a buffer that can protect you from unexpected costs and reduce day-to-day anxiety. 3. Create a Clear Retirement RoadmapEffective retirement planning is about more than choosing investments. It includes defining your timeline, estimating future needs, and aligning your savings strategy with your goals. 4. Simplify Your Financial LifeConsolidating accounts and clarifying your strategy can make your finances easier to manage and understand. Simplicity often leads to greater confidence. 5. Work Toward a Holistic PlanTrue wealth management connects every part of your financial life, from investments to taxes to long-term goals. When everything works together, decision-making becomes clearer. How the Right Guidance Can Make a Difference While these steps are powerful on their own, many people find that working with the right advisor accelerates their progress and reduces uncertainty. At Next Level Wealth Planning, we focus on helping clients in Meridian, ID move beyond transactional decisions and toward a more intentional, life-centered approach. As fiduciary Meridian financial advisors, our role is to help you build a strategy that supports your goals, values, and lifestyle. That means going beyond one-time recommendations. It means creating a roadmap, adjusting it as life evolves, and helping you stay on track with confidence. Moving Toward Lasting Financial Confidence Financial peace of mind is not about perfection. It is about progress, clarity, and having a plan you can rely on. By automating your savings, preparing for the unexpected, and building a clear retirement planning strategy, you can begin to reduce stress and take control of your financial future. And when you pair those steps with thoughtful guidance from a team focused on your long-term success, that sense of calm and confidence becomes even more achievable. If you are ready to experience a more intentional approach to wealth management and investment management, Next Level Wealth Planning is here to help you move forward with clarity and purpose. Get started now.
Financial Planning
Fiduciary vs. Commission-Based Financial Advice
What Meridian Clients Need to Know At Next Level Wealth Planning, we believe that informed clients make better financial decisions. Whether you are exploring retirement planning, evaluating investment management options, or looking for comprehensive wealth management, understanding how your advisor is compensated (fiduciary vs. commissions) is one of the most important yet often overlooked factors in your financial journey. Not all financial advice is created equal. In fact, the way an advisor gets paid can directly influence the guidance you receive. Let’s break down the key differences between fiduciary advisors and commission-based advisors and why that distinction matters for individuals and families seeking trusted Meridian financial advisors. A fiduciary advisor is legally and ethically required to act in your best interest at all times. That is not just a philosophy. It is a standard that governs every recommendation, every strategy, and every conversation. At Next Level Wealth Planning, operating as a fiduciary means: Your goals come first, always Recommendations are based on what benefits you, not what pays us more Fees are transparent and straightforward Instead of earning commissions from product sales, fiduciary firms typically use a fee-based model, such as a percentage of assets under management or a flat planning fee. This structure allows us to focus fully on delivering personalized investment management and long-term wealth management strategies without the pressure to sell specific financial products. Commission-based advisors earn income by selling financial products like mutual funds, annuities, or insurance policies. Each product comes with its own commission structure, which can create potential conflicts of interest. To be clear, many commission-based advisors aim to help their clients. However, the compensation model introduces an inherent tension. The advisor may be rewarded more for recommending one product over another, even if both could meet your needs. For example, in a retirement planning scenario, two investment options might offer similar performance potential. One, however, may carry higher fees or commissions. In a commission-based model, there is a financial incentive to recommend that option. Over time, these incentives can subtly shape the advice clients receive. When choosing between fiduciary and commission-based Meridian financial advisors, here are a few critical distinctions to consider: 1. Alignment of InterestsFiduciary advisors succeed when you succeed. Commission-based advisors are compensated based on transactions. 2. TransparencyFiduciary fee structures are typically clear and easy to understand. Commission costs are often embedded within products, making them less visible. 3. Scope of AdviceFiduciary advisors tend to provide holistic wealth management, integrating retirement planning, tax strategies, and investment management into one cohesive plan. Commission-based advisors may focus more on individual product recommendations. 4. Long-Term FocusWithout the pressure of earning commissions, fiduciary advisors can focus on building strategies designed for sustainable, long-term outcomes. Financial decisions do not happen in a vacuum. Every investment, every plan, and every recommendation plays a role in shaping your future. Even small differences in fees or product choices can compound over time, impacting your retirement lifestyle, legacy goals, and overall financial security. That is why working with a fiduciary is not just about compliance. It is about confidence. When you partner with a firm that prioritizes your best interests, you can spend less time questioning recommendations and more time focusing on what matters most, achieving your goals. As a fiduciary firm serving individuals and families seeking trusted Meridian financial advisors, Next Level Wealth Planning is built on a simple principle. Your success is our success. We do not sell products. We build relationships. Our approach to wealth management, retirement planning, and investment management is rooted in transparency, education, and long-term partnership. Every recommendation we make is designed to support your unique financial vision, without hidden incentives or conflicting priorities. Because at the end of the day, financial planning is not about transactions. It is about helping you move forward with clarity, confidence, and true peace of mind. If you are ready to experience a client-first approach to financial planning, we are here to help you take the next step.
Cash Management
How To Find An Advisor
Most people don’t realize how hard it is to tell a good financial advisor from a bad one. That’s not because people aren’t smart.It’s because the industry does a great job of making simple things look complicated, and complicated things look impressive. For 11 years, I sat on the other side of the desk. I was a wholesaler. These are the guys and gals pitching investment strategies—mutual funds, ETFs, annuities, structured products, to financial advisors. I covered eight states.Met with roughly 20 advisors a week.Did that for about 50 weeks a year. Yes, that adds up to a lot of meetings. I sat in conference rooms, corner offices, and coffee shops. I saw how portfolios were built, how plans were presented, and how advice was delivered, both when markets were calm and when they weren’t. A few years ago, I left that life and became a financial planner myself. Seeing the industry from both sides taught me something important: From a consumer’s perspective, the difference between good advice and bad advice is rarely about performance. Long-Term Success Is Built on Process, Not recent Performance The best advisors I met didn’t lead with returns. In fact, many of them barely talked about performance at all. Instead, they focused on things like: A clear, repeatable financial planning process Explaining tradeoffs, not just recommendations Educating clients about risks and expectations Using modern financial planning technology to model decisions, track progress, and show clients how choices today affect outcomes over time They understood something most investors eventually learn the hard way: Markets are unpredictable.Human behavior is not. Good advice isn’t about forecasts. It’s about decision-making support, especially during periods of uncertainty. Where Financial Advice Often Breaks Down Most bad advice doesn’t come from bad intentions. It usually comes from oversimplification or misalignment. Here are some common patterns I saw over and over again: Clients sold on the bells and whistles of a product before discussing goals Investment strategies presented before conversations about taxes or cash flow Heavy reliance on recent market performance as a decision-making tool If your first meeting is mostly about a product, that’s a yellow flag. If performance charts show up before a discussion about your life, that’s worth paying attention to. These approaches can feel reasonable during strong markets.They tend to fall apart when conditions change. Incentives and Transparency Matter. A Lot. The financial industry runs on many different compensation models. Fee-only.Fee-based.Commissions.Some combination of all three. None of them are perfect. The real issue isn’t how an advisor is paid.It’s whether you understand how incentives influence recommendations. A good advisor should be able to clearly explain: How they are compensated. And how much. Whether compensation changes based on recommendations How conflicts are identified and managed Transparency doesn’t eliminate conflicts, but it gives you context. If an advisor can’t explain how they get paid, by whom, and why…You should leave. How to Evaluate a Financial Advisor Instead of focusing on returns or product selection, here are a few better questions to ask. 1. Can You Walk Me Through Your Planning Process? A qualified advisor should be able to explain, in plain language: How decisions are made How often plans are reviewed What happens when markets or your life change If the process feels vague or improvised, that’s usually a sign it is. 2. How Do You Define and Measure Risk? Risk isn’t just short-term market volatility. A thoughtful answer connects investments to goals, time horizons, and cash flow needs, not just questionnaires or model portfolios. 3. How Do You Track Progress Over Time? Good advisors don’t just pick investments. They help clients see their entire financial picture. That usually means using real financial planning tools to: Model decisions Track progress Document tradeoffs The specific software matters less than the fact that a system exists. 4. How Do You Coordinate With Other Professionals? Real planning doesn’t happen in a vacuum. Taxes, estate planning, insurance, and investments all interact. Advisors who coordinate with CPAs and attorneys tend to deliver better outcomes, not because they know everything, but because they know what they don’t know. 5. What tech do you use? This isn’t about fancy dashboards or buzzwords. It’s about whether an advisor uses modern tools to support better decisions. At a minimum, that usually includes comprehensive financial planning software, such as RightCapital, eMoney, or MoneyGuidePro, that connects investments, cash flow, taxes, and goals in one place. If an advisor can’t clearly explain how technology is used to improve planning and communication, it’s fair to ask why. One Practical Tip: Look for a CFP® Professional No credential guarantees quality. But the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation is one of the strongest indicators of a commitment to comprehensive planning. CFP® professionals must: Meet education and experience standards Follow ethical and professional conduct rules Act as fiduciaries when providing financial advice Take a holistic approach that goes beyond investments For families with more complexity—taxes, equity compensation, business income, estate planning—this tends to matter. A Final Thought Financial advice isn’t about predicting markets or finding perfect strategies. It’s about making reasonable decisions, understanding tradeoffs, and sticking with a plan through inevitable uncertainty. After spending years inside the advisory ecosystem, and now working directly with clients, the best outcomes usually come from: A clear process Transparent incentives Ongoing education A trusted professional relationship If you’re evaluating financial advice, focus less on what an advisor promises and more on how decisions are made. That’s where the real value shows up over time.
Estate Planning
Leaving a Legacy, Not a Headache: 5 Smart Estate Planning Moves
If I’m being honest, I’m not sure how estate planning attorneys stay in business. If talking about money is taboo, talking about your money and your own mortality? That’s the perfect recipe for “I’ll deal with this next year.” But when you look at it through a different lens, legacy planning is actually one of the most profound acts of kindness you can perform for your family. It’s the final roadmap you leave behind, one that helps guide the people you love through an already difficult moment. If you want your impact to be felt exactly as you intended, here are five essential things worth thinking about today: 1. Be Clear About What You Want In estate planning, ambiguity is the enemy of peace. Leaving “everything for the kids to figure out” sounds fair in theory, but in practice it often turns into a group project fueled by grief, stress, and high emotions. Brené Brown says it best: “Clear is kind. Unclear is unkind.” That idea applies perfectly here. When intentions aren’t clearly documented, it creates space for assumptions, resentment, and unnecessary family conflict. Being clear means: Having a complete estate plan in place, including a will, trust (if appropriate), and financial and medical powers of attorney Completing a personal property memorandum, because we’ve seen more conflict over mom’s wedding ring or dad’s firearms than over brokerage accounts and IRAs Including a short “family love letter” that explains the why behind your decisions, so no one is left guessing or feeling overlooked Clarity doesn’t create tension. It prevents it. 2. Give While You’re Still Here Why wait until you’re gone to see the impact of your generosity? Using the annual gift tax exclusion allows you to transfer wealth to loved ones today, without triggering gift taxes or dipping into your lifetime exemption. As of 2025, you can gift $19,000 per person, per year, to as many individuals as you like. If you’re married and elect to split gifts, that number effectively doubles per recipient. This can be a powerful way to help with a grandchild’s education, a child’s first home, or a family business, while also reducing the size of your future taxable estate. More importantly, you get to see the impact while you’re still around to enjoy it with your loved ones. 3. Know Your Tax-Friendly (and Tax-Unfriendly) Assets We all owe our fair share in taxes, but most people don’t want to leave the government a tip. Not all inherited dollars are created equal. The tax bill attached to assets can vary dramatically, depending on what you leave and to whom. Tax-friendly assets: Roth IRAs, taxable brokerage accounts, and life insurance proceeds are generally received income-tax free by heirs Tax-unfriendly assets: Traditional IRAs and 401(k)s can become tax bombs. Withdrawals are taxed as ordinary income, often during your children’s peak earning years, sometimes at rates north of 37% Thoughtful asset placement, deciding which assets go to which heirs, can dramatically reduce the tax burden your family inherits. 4. Charitable Giving — During Life and at Death For many families, legacy planning isn’t just about passing wealth forward. It’s about passing values forward, too. Charitable giving can be one of the most powerful and tax-efficient tools in an estate plan, both during life and at death. During your lifetime, tools like donor-advised funds (DAFs) allow you to: Take an immediate tax deduction Invest charitable dollars for potential growth Support multiple charities over time in a thoughtful, intentional way DAFs are especially useful in high-income years, after liquidity events, or when you want to involve children in philanthropy before wealth transfers occur. At death, charitable giving can be just as impactful: Charities can be named directly in a will or trust Retirement accounts, especially traditional IRAs, are often ideal assets to leave to charity, since nonprofits don’t pay income tax Charitable bequests can reduce estate taxes while ensuring assets go exactly where you intend When coordinated properly, charitable giving can reduce taxes for heirs, align money with values, and create an impact that extends well beyond your family. The goal isn’t complexity. It’s alignment. 5. Start the Conversation with Adult Children Now The worst time to talk about your estate is during a crisis. Start the conversation with your adult children while everyone is healthy, calm, and thinking clearly. You don’t need to disclose every dollar if you’re not comfortable, but you should cover the logistics: Where are important documents kept? Who is serving as executor and financial or medical power of attorney? What are your wishes regarding medical care and end-of-life decisions? Normalizing these conversations removes the taboo and ensures that, when the time comes, your family can focus on grieving and honoring your life, not hunting for passwords and paperwork. Final Thought You don’t need a perfect plan.You just need a clearer one. Start with this: get your estate plan in place and have one honest conversation with your kids. Because clarity is a gift. And the best legacies aren’t measured only in dollars, but in how easy you made it for the people you love to move forward without you.
Cash Management
7 Smart Financial Steps to Take Before the End of the Year
7 Smart Financial Steps to Take Before the End of the Year As the year comes to a close, it’s the perfect time to review your finances and ensure you’re on track for long-term success. A little planning before December 31 can help you reduce taxes, strengthen your investment strategy, and start the new year with confidence. At Next Level, our team financial planners helps clients create personalized strategies to reach their financial goals. Here are seven year-end steps that can make a big difference in your overall financial picture. 1. Review Your Retirement Contributions If you’re still working, take a close look at your contributions to retirement accounts such as IRAs or 401(k)s. Maximizing your contributions before year-end can provide valuable tax benefits and help grow your nest egg for the future. 2. Take Required Minimum Distributions (RMDs) If you or your spouse is age 73 or older, make sure you’ve taken your Required Minimum Distribution (RMD) by December 31. Missing the deadline can lead to a 25% penalty tax on the amount you should have withdrawn. 3. Make Charitable Contributions Before Year-End Charitable giving is a wonderful way to support causes you care about while potentially lowering your taxable income. Donations made before December 31 can be claimed as deductions on this year’s tax return. 4. Review Your Budget and Spending Compare your actual spending to your budget for the year. Understanding where your money went can help you identify areas for improvement and create a more accurate budget for the coming year. 5. Plan for Income Changes in the New Year If you expect to earn more next year, consider directing part of that increase into savings or investments. Allocating funds early can help you reach your goals faster and prevent lifestyle inflation from eating up your extra income. 6. Revisit Your Investment and Asset Allocation Market changes, inflation, and life events can shift your portfolio away from its original goals. Review your investments to ensure your asset allocation still reflects your risk tolerance and long-term objectives. 7. Set Clear Financial Goals for 2026 Take some time with your family to discuss what matters most next year. Do you want to save more for retirement or college? Is a particular budget category consistently over budget? Are you anticipating large expenses such as tuition or home renovations? Setting clear goals now gives you a plan for the months ahead and helps your financial advisor tailor strategies to your needs. Start the New Year Financially Strong By reviewing these key areas now, you’ll be ready to step into the new year with clarity and confidence. At Next Level Wealth Planning, our experienced financial planners in Meridian, Idaho can help you analyze your unique situation and develop a customized plan for success. Contact us today to schedule a year-end financial review and take the next step toward your financial goals.
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 this year? 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 this 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.