Investments - Achieving Financial Awesomeness

The Tax Benefits of Net Unrealized Appreciation

When you get a new job or start working for a company, your pay and benefits can take different forms. Your salary is often your primary form of taxable income, but companies can compensate you in other ways with benefits packages, perks, retirement plans, 401(k)s, and even shares of the company. 

One of the ways that companies and organizations can compensate their team is by giving them equity in the company, via employee stock ownership plan (ESOPs) or profit-sharing. If you do in fact have stock within your company 401(k) you could potentially be eligible for tax rules that can help you save money on your taxes.

Continue reading

What To Do With $50,000

Have you recently come into a $50,000 windfall, such as an inheritance? You may be tempted to buy a new car or take your family and friends on a dream vacation. 

But before you do, stop and consider all of your options — including saving the money...who would've thought a financial advisor would recommend this. 😁Developing a sound financial strategy is a good way to make your money grow.

Continue reading

5 Great Value Investing Books Worth a Read

When it comes to investing, putting money into stocks is one of the best options for the long term. However, as you can imagine, trading in the market can be complicated and somewhat confusing for first-timers. Fortunately, there are tons of resources on the subject, so getting started is all about doing a bit of research. 

We’ve compiled a list of five great value investing books worth a read. Whether you’re brand new to the world of stocks and investing or just want to polish your knowledge, each of these books is going to help. 

Continue reading

The Financial Freedom Blueprint® Is Now An Online Course!

The Financial Freedom Blueprint® Is Now An Online Course

We have some super exciting news around here at NextGen Wealth. We have taken our trademarked financial planning process, The Financial Freedom Blueprint®, and turned it into a do it yourself online course.

So, if you’re the do it yourselfer type when it comes to your personal finances, you now have a financial planning process laid out for you that will take you through every step of the way.

Continue reading

How to Get the Most Bang for Your Buck with Investment Properties

Whether you’re a first-time real estate investor or an experienced veteran, you can always do a little bit more to maximize profit in your investment properties. Here’s how you can get the most bang for your buck. 

Fix-and-Flip for Cheap

One of the most common types of investment properties are fix-and-flip properties. For the uninitiated, a fix-and-flip investment is when you buy a house that’s undervalued, most of the time because it’s old and run-down. You purchase it at a cheap price, fix it up and make it nice—thus improving its value—and then you sell it to make a profit.

Continue reading

How to Become a Millionaire in Your 30s

For most people, the idea of becoming rich is mostly a fantasy. Many of us imagine what it would be like to have millions of dollars, but few of us actually get there. However, if you want to know how to become a millionaire in your 30s, the answer will probably surprise you. It doesn’t take an inheritance or some kind of get-rich-quick scheme. 

In this article, we’ll outline the best methods you can start using right now to become a millionaire before you reach 40. We’re not saying that the road to wealth is easy, but once you have the right plan in place, it is attainable. 

Continue reading

Is Passive Income Right for You?

If you’re like most people, you work a lot. These days, a growing number of Americans are working multiple jobs. Either the gigs are all part-time, or people are working on side hustles to earn extra income. 

One of the issues with the standard model of earning money is that you have to work for it. This is what’s called active income. You put in the hours, and you get a paycheck at the end of it. The more work you do, the more money you make. 

Continue reading

How to Become a Millionaire in Your 40s

While becoming a millionaire in your 40s may seem difficult, it’s something that many people can achieve. All it takes is the right mindset and a laser-sharp focus toward building wealth and increasing your net worth. 

There is something about knowing that you have a million dollars that shows you that you are on the right track financially. But how do you get there? If you want to increase your chances of getting to $1 million in your 40s, there are certain habits that will help you achieve that milestone faster.

Continue reading

Should I Pay Off My Mortgage or Invest?

When you buy a house, the resulting mortgage can feel like a weight on you - mentally and financially. If you end up with a surplus of cash, you may wonder if it’s better to pay off your mortgage or invest the money in the stock market. 

This is a common question in personal finance circles. Some people believe paying off your mortgage is a good investment, while others think putting your money in the market is a better option. 

Continue reading

5 Ways to Become a Millionaire

Who wants to become a millionaire? Many people would love to reach this seven-digit goal and know they can give themselves that title. But is it possible?

While a million dollars may seem out of reach, accumulating wealth is not as difficult as it seems. There are many ways to become a millionaire and build your net worth. Which one you choose depends on what works for your particular situation.

Continue reading

A Guide to Choosing the Right Wealth Management Firm

With so many wealth management firms competing for a client’s favor and attention, you might be lead to believe that picking one is as easy as a walk in the park. Sadly, that's not the case. It's great that people have options nowadays, but the sudden increase in numbers also makes finding the right firm for your specific financial situation more challenging.

If you're at a point where your portfolio has become too large to manage on your own, then it's high time to call in the experts. The right wealth manager will help you identify solid investment choices and map out a strategy that will not only let you achieve your financial goals but surpass them, if possible.

Continue reading

Why Your Financial Advisor Shouldn’t be Managing Your Investments

Many people consider hiring a financial advisor to manage their investments. But is a financial advisor really the best person to handle your investments day-to-day?

While a financial advisor or Certified Financial Planner® should be overseeing your investments, this shouldn’t be their main focus. They should be looking at the big picture and quarterbacking all areas of your financial life and not getting into the nitty-gritty of managing your portfolio.

Continue reading

Tips to Maxing Out Your 401(k) Account

One of the best ways to save for retirement is to use tax-advantaged accounts. Most employers offer the option of contributing to a 401(k) account, which can be a great idea for stashing cash for your golden years.

Maxing out your 401(k) account for a few years can give you a good foundation for retirement. The earlier you get started, the longer the money will have to grow and earn interest.

Continue reading

Can You Have Multiple 401(k) Accounts?

If you’re stashing away cash for your golden years, you’re ahead of the game. A 2018 study by Northwestern Mutual found that one in three Americans have less than $5,000 in retirement savings. And what’s even worse, one in five Americans have no retirement savings at all.

Since 401(k) accounts are the most popular way to save for retirement, you may find yourself with more than one in the course of your career. If you move jobs several times, chances are you have multiple 401(k) accounts in your name.

Continue reading

How to Create a Digital Estate Plan

I’m assuming you’ve never heard of a digital estate plan before, but I am guessing you know the importance an estate plan to help take care of your physical assets. Things like your primary residence, other real estate, jewelry, investment accounts, etc.

The digital world is now an integral part of our personal lives. Few people consider their digital assets and what should be done with them when they pass away. This is where having a digital estate plan in place can be a great idea.

Continue reading

How to Invest Your Lottery Winnings (or any large sum of money)

Winning the lottery or coming into a large sum of money can change your life in more ways than one. You’ve probably read about people who have won the lottery and then went broke. With proper planning, you can avoid their fate. Today, we’re going to show you how to invest your lottery winnings or, for that matter, any large lump sum of money that happens to come your way.

It’s not every day that you find yourself in such a position. While you may want to run out and buy everything your heart desires, this is not the best course. If you take the necessary steps to get your finances in order, you can beat the odds and avoid squandering your windfall.

Continue reading

The Biggest Mistake Investors Make

Whether you’re new to investing or you’re a seasoned pro, you’re bound to make mistakes. As you gain more experience with the market, you’ll be less prone to making impulse decisions. However, there’s one mistake that all investors are bound to make at one point or another – trying to time the market.

While you may think that you’ve got a good handle on the ups and downs of the market, think again. Trying to figure out the exact right time to move your money in and out of the market requires a crystal ball. Not even the experts know for sure when the next downturn or upward swing of the market will happen.

Continue reading

Compound Interest Can Be Your Ticket To Financial Freedom: Here’s How

Between student loan debt and the high cost of living, it can seem difficult to get ahead in this world. However, there’s an important concept that, when managed well, can accelerate the growth of your savings and increase your wealth like you couldn’t imagine. And, you’ve probably heard of it before; compound interest.

Hey, if Albert Einstein is calling compound interest the eighth wonder of the world, then you better take note!

Continue reading

The NextGen Wealth Weekly Roundup, November 30, 2018

Welcome to the weekly roundup where I share with you interesting articles from across the web. I hope you enjoy and absolutely feel free to share and pass along.

Our Kansas City Financial Planner Weekly Roundup

Hope you were able to get back in the swing of things after taking some time off to spend with family and friends for Thanksgiving. I know it always takes me a little while to get back in the swing of things.

Continue reading

Paying Off High-Interest Debt – Is It A Good Investment?

As an investor, you’re always on the lookout for the best possible returns with the least amount of risk. It just makes sense. But many experts say that paying off high-interest debt is one of your best investments - and I completely agree.

For example, suppose you are getting an average annual return of 8% from your investment portfolio. On the other hand, you are paying 19% annual interest on your credit card. In other words, you are spending roughly 11% more out of your pocket each year to service the interest on your credit card. Regardless of how you look it, you’re not getting ahead.

Continue reading

Ask Us A Financial Planning Question!

NextGen Wealth, LLC is a registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or recommendation discussed herein.

Legal, privacy, copyright and trademark information
Terms and Conditions | Web Privacy Policy
Copyright © 2017 - NextGen Wealth. All rights reserved
Web Design and SEO by Igniting Business