The NextGen Wealth Weekly Roundup, November 30, 2018

THE NEXTGEN WEALTH WEEKLY ROUNDUP

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.

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

IS PAYING OFF HIGH INTEREST DEBT A GOOD INVESTMENT T

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.

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What Should I Do If My Investments Are Losing Money?

What Should I Do If My Investments Are Losing Money 4

When the stock market takes a sudden turn downward, it can be easy to get worried about your investments. Market turmoil can cause even seasoned investors to take pause. Watching the value of your investments go down can certainly be disheartening.

In fact, a 2018 study found that Americans are more stressed by money issues than by personal relationships or work. Stock market volatility is nothing new so finding the best way to cope with the swings will help give you peace of mind. Getting your finances in order will help you weather the inevitable ups and downs of your investment portfolio.

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Top Ten Ways To Avoid Bad Investments

Top Ten Ways To Avoid Bad Investments

When it comes to making investment decisions, sometimes our emotions take over for common sense. While we usually rely on our knowledge and experience to point us in the right direction, investing doesn’t always work that way.

Fortunately, there are things you can do to keep on the right track. While you can’t control the markets, you can control your own behavior and how you respond. When making investment decisions, it’s essential to take into account a few potential pitfalls.

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How To Overcome Your Fear Of Personal Finances

How To Overcome Your Fear Of Personal Finances

Have you ever been afraid to log into your bank account or check your credit card balances? If you’re losing sleep over your personal finances, you’re not alone. According to a Bankrate survey, 36 percent of Americans are losing sleep over money troubles.

While money anxiety can be more common than we realize, it’s important to address it sooner rather than later. Ignoring your finances will hurt you in the long run, even if it feels better to bury your head in the sand right now. Money troubles never go away unless you take charge of your situation and address them head-on.

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How You Can Utilize Airbnb or VRBO to Supplement Your Retirement Income

How You Can Utilize Airbnb or VRBO to Supplement Your Retirement Income

If you’re approaching retirement and looking for ways to beef up your monthly income, there are many strategies to consider. You could pick up part-time work or start a side hustle like tutoring or delivering groceries. Or, you could just rent out your home or part of your home for cash and travel the world.

If you think that final suggestion is intriguing, you’re not alone. Thanks to technology brought to use by companies like Airbnb and VRBO.com, it’s more common than ever for senior citizens or anyone approaching retirement to use their home as an income-producing asset so they can do…well….whatever they want.

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The Ultimate Guide To Financial Freedom

THE ULTIMATE GUIDE TO FINANCIAL FREEDOM

By now, you’ve probably heard of the FIRE movement. FIRE, which stands for Financial Independence, Retire Early, is everywhere. As a matter of fact, there is even a new movie coming out called Playing With Fire. The film itself documents a young family’s journey into the FIRE subculture as they look for a way to cut down time spent working versus time spent with their family.

Financial freedom is a term used loosely, along with financial independence, and while they are very similar, they aren’t quite the same. The difference? Financial freedom allows you to completely walk away from your career without owing anyone a thing.

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Saving for Retirement - Your Step-By-Step Guide to Getting You There

Saving for Retirement

When entering the job market out of college, the concept of retirement seems like a lifetime away. Most people can’t even fathom thinking about retirement let alone save for it. And others know the day is coming, but they are relaxed in the notion that it’s too early to even begin thinking about saving for retirement.

Such thinking is certainly misguided. Regardless of the confusing retirement savings types, retirement is a natural part of life. It can be a wonderful experience for many families, especially those who planned early. It’s a new chapter in life, where people get to enjoy the fruits of their labor for the next few decades.

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Retirement Income - Your Step-By-Step Guide to Not Running Out of Money

Depositphotos 59267125 m 2015

Congratulations! You’ve worked for decades to prepare for retirement and now you’re there, or almost there, ready to start what can be the most enjoyable phase of your life. Very likely, you’ve got plans to travel, see family and friends and maybe even revisit hobbies you’ve neglected for decades.

However, as you are most likely aware, you must also make plans related to your money. Specifically, you want to be sure you have enough retirement income to last you for the rest of your life.

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Why You Should Think Twice Before opening a 529 Through A Financial Advisor

Why You Shouldnt Open a 529 Through A Financial Advisor

Do you have a 529 plan? Do you work with a financial advisor? Do you have a 529 plan that’s managed directly through your financial advisor?

If you answered yes to the first question, then that’s perfectly fine. If you answered yes to the second question, that’s great as well. However, if you answered yes to the third question, well, that’s where I tend to differ from a lot of financial advisors… and yes, that’s coming from a financial advisor.

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Top 5 Financial Tips for Property Investors

Property Investments 1

Did you know that real estate has produced more wealth than any other industry in the history of time? Retail real estate alone has produced an average annual return of 10.8% over the past two decades, according to data from the National Council of Real Estate Investment Fiduciaries Index.

However, as with any other business, property investing isn’t without its pitfalls. If not wisely planned, the cost of the property investment can quickly override the profits.

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How To Do A Background Check On Your Financial Advisor

How to do a background check on a financial advisor P

In today’s day and age of the internet, you can find just about anything in no time. Looking for a restaurant nearby? Go to the internet. Need a place to get a haircut? Go to the internet. Looking for background information on a financial advisor? Yep, go to the internet.

It amazes me how we found things before we had the internet. I guess we just asked for referrals from our friends, looked things up in the phone book or drove around until we found out what we were looking for…the indignity.

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Fundrise: An Interesting Way To Invest In Real Estate (2018 Review)


Have you ever wanted to invest in real estate? Or, maybe you’ve already tried your hand at it once, and it didn’t exactly go the way you were expecting.

I’m not sure what the appeal is to investing in real estate – being a landlord is not for me – but I do get asked the question quite a bit.

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The Best Options For Your Old 401k(s) – A Step-by-Step Guide

The Best Options For Your Old 401k

So, how many different companies have been at in your working career? If you’re like most people today, you’ve probably switched jobs at least a couple times. It seems like some people can switch every six months while others can stay for years.

Regardless, it’s extremely rare to see someone who stays with the same employer for life. Things have certainly changed from the baby boomer generation.

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The Best Personal Finance Tips When Changing Jobs

The Best Financial Tips When Changing Jobs

Congratulations, you landed a new job! Hopefully, it’s the job of your dreams or at least a lot better than your previous one.

Now that you’ve said “I do” to your new employer, it’s now time to tackle the financial things to do when changing jobs. Don’t worry, the list isn’t overwhelming (although we certainly understand the stress of moving and changing jobs), but many of these items are time sensitive and could have a major impact if not handled correctly.

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Acorns: A Cool App For Saving Money

Acorns2

Did you set a goal to try and save more money this year? If you’re like most people, this is a recurring goal that continues to rear its ugly head time and time again.

Let’s face it, saving money can be tough. Spending money is much easier and way more fun… hey, I’m a financial advisor, and I’m in total agreement. However, as much as we dread putting some money away for a rainy day – or for whatever reason, we need to do it. Some of us are good at, while others are not so good.

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Why Maxing Out Your 401k Could Mean Missing Out On Thousands

Maxing Our Your 401k Missing Match

The 401k; our main bucket of retirement plan savings. Like it or not, that’s what we have, and it looks like that’s what we’re going to continue to have for the foreseeable future.

If you’re like most people, you eventually got around to putting money into it at some point – let’s just hope this epiphany of saving for your retirement hit you sooner than it did for a lot of people.

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The Dirty Little Secrets to 401k Loans

Dirty Secrets of 401k Loans

Now that the holidays are over, it’s back to reality. For many – hopefully, not you – it means paying off all the debts you racked up from your extremely generous giving. Let’s just hope you had already budgeted for it and you were merely using your credit card to get the free rewards.

Regardless of whether you have debt or not, sometimes, unknowns pop up in our lives where we need to get access to money. If you don’t have it sitting in a savings account – which I’m sure you do if you’re an avid reader of this blog – you have to find it somewhere.

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Why Investors Can Do Some Dumb Things (me included)

Why Investors Can Do Some Dumb Things

Do you ever do something or make a decision and then a few moments later think, “Why in the world did I just do that?” Of course you have, we all have. The good thing, though, it’s normally something small that won’t have much of an overall impact on your life.

However, when we make dumb decisions when it comes to our investments or saving for our retirement, you typically don’t know the results of that decision until a year–or many years–down the road. Investing for your goals is a slow moving process so making hair-trigger decisions typically doesn’t work out so well.

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Why Investing Doesn’t Need To Be That Complicated

Investing Doesnt Need To Be That Complicated

That’s right, investing doesn’t need to be that complicated. I don’t care how convoluted and confusing your financial advisor makes it sound, it truly doesn’t have to be that way. Like anything, though, you can get as deep down into the weeds as you want, but when it comes to a good investment strategy, you really just need to know the basics to create a good plan.

While you may not want to manage your investments yourself simply because of interest or time (feel free to call me), just know that if someone put a gun to your head, you could do it. I’m by no means trying to downplay the importance a financial planner plays when it comes to investment management, but there’s so much more in your personal financial life than just investments – which they should be helping you with.

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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.

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