OneAZ Wealth Management

Practicing Mindfulness with Money to Boost Your Financial Wellness

February 24, 2023 By quadcities Leave a Comment

Come back to these exercises whenever you need a boost in your financial well-being.

Mindfulness is a hot topic in today’s fast-paced world; a practice of being present in the moment, fully aware of where we are and what we’re doing, of not being overly reactive or overwhelmed by what’s going on around us. But mindfulness isn’t only a practice for yoga or meditation – it can also benefit your financial wellness. Here are three exercises to use mindfulness in your financial life.

Exercise 1: Be Mindful of Your Savings Goals and Pay Yourself First

Do you struggle to meet your savings goals each month? It’s time to be more mindful and deliberate about what your goals are and what it will take to get there. Determine how much you can contribute each week or month and put mindfulness into action by paying yourself first.

Treat your regular savings contributions like a bill that is due each week or month. Whether it’s building an emergency fund or saving for a financial goal, put away as much as you can. Even $50 or $100 each month adds up to big savings! The good news is that you’re already practicing pay-yourself-first mindfulness if you are contributing to your 401K.

Exercise 2: Be Mindful of Your Retirement Account Contribution

Can you increase your contribution to your retirement account? Be mindful of your future by taking inventory of your retirement account at least once a year. Look at how much you’re contributing – is it enough to get the full employer match?

Look for opportunities to increase the amount you’re contributing. The longer you put off increasing your retirement savings, the more you miss the benefit of compound interest. So, don’t wait — even a $50-per-month increase in retirement savings has the potential to grow to almost $75,000 over 30 years, assuming an 8% annual rate of growth, compounded monthly. *

Exercise 3: Be Mindful of Your Spending by Making a Game Out of Saving

Part of saving is being mindful of your spending. Push yourself to go on a no-spend challenge – a weekend, week or month when you don’t spend money on anything but the essentials. Doing these challenges regularly pushes you to be creative with what you have while opening ideas for more ways to save.

Practicing financial mindfulness is a great way to have a better understanding of your spending and savings habits, making you more financially fit. Come back to these exercises whenever you need a boost in your financial well-being. QCBN

By Daniel Martinez

OneAZ Wealth Management is a team of LPL Financial licensed professionals and support staff located in OneAZ Credit Union branches across Arizona providing investments, insurance, and retirement planning services intended to guide credit union members towards their financial goals. To learn more about OneAZ Wealth Management, visit OneAZWealth.com or call 877-566-0517.

Securities are offered through LPL Financial (LPL), a registered broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. OneAZ Credit Union (OneAZCU) and OneAZ Wealth Management are not registered as a broker/dealer. Registered representatives of LPL offer products and services using OneAZ Wealth Management, and may also be employees of OneAZ CU. These products and services being offered through LPL or its affiliates, which are separate entities from, and not affiliates of OneAZ CU or OneAZ Wealth Management. Securities and insurance offered through LPL or its affiliates are:

NOT INSURED BY NCUA OR ANY OTHER GOVERNMENT AGENCY | NOT CREDIT UNION GUARANTEED NOT CREDIT UNION DEPOSITS OR OBLIGATIONS | MAY LOSE VALUE

* This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.

Starting Strong with First Quarter Investment Statements

January 24, 2023 By quadcities Leave a Comment

Speak with your financial professional to monitor your portfolio progress and set up a comprehensive wealth-building strategy.

Understanding your Quarterly Investment Statement is a key part of successfully managing your investment portfolio. Quarter 1 statements will start hitting your mailboxes in early 2023, so now is the time to freshen up your understanding of what exactly to expect from your Quarterly Investment Statement.

What’s Inside My Statement?

Quarterly statements are sent every three months of the calendar year. These statements provide you with a broad overview of your assets and investments, as well as a more detailed analysis of each of your accounts. To help you understand your investment strategy, each statement will give you a summary of your investments, the total monetary value of your assets, graphs that show trends over time and details of recent transactions. Establishing a close relationship with your financial advisor can be key to deepening your knowledge of how to use the information in each statement to plan for the rest of the year and beyond. Your financial advisor will guide you through the three main sections of your statement: your portfolio, accounts and asset allocation.

Your Portfolio and Accounts

A consolidated portfolio summary provides a high-level view of all your accounts. This section provides a clear picture of the most important information. Here, the previous year or quarter may be compared side by side for a more transparent and in-depth understanding.

Analyzing your individual accounts is important in understanding your current financial situation. Your statement will show any changes in values that have occurred during the quarter. Items like investment objectives and a gain/loss summary might appear here, along with activity for your retirement accounts.

Asset Allocation

What investments are included in your portfolio? Asset allocation illustration in your quarterly statement will summarize the portfolio’s asset diversification in a list or chart. Some common assets you might recognize are equities, fixed income, ETFs, mutual funds, cash and cash equivalents, and other alternative investments.

A Rule of Thumb When Investing

One of the most basic principles of investing is to gradually reduce your risk as you get older. The challenge is figuring out exactly how safe you should be relative to the stage of life you’re in.

For years, a commonly cited rule of thumb called the 100 Rule has helped simplify asset allocation. According to this principle, individuals should hold a percentage of stocks equal to 100 minus their age. So, for a typical 60-year-old, 40% of the portfolio should be equities. The rest would be comprised of high-grade bonds, government debt and other relatively safe assets.

Speak with your financial professional to monitor your portfolio progress and set up a comprehensive wealth-building strategy. QCBN

By Daniel Martinez

For more than 12 years, Daniel has worked in the financial services industry helping individuals and families align their goals toward financial freedom. He provides clients with a variety of investment knowledge and experience, taking the time to create a personalized financial plan for each client. Daniel holds his Insurance Licenses and is also bilingual in English and Spanish to better serve the community. He is registered through LPL Financial with his SIE, Series 7 and 63 securities registrations. To schedule an appointment with Daniel Martinez, email DMartinez@oneazcu.com or call (928) 777-6050.

NOT INSURED BY NCUA OR ANY OTHER GOVERNMENT AGENCY | NOT CREDIT UNION GUARANTEED NOT CREDIT UNION DEPOSITS OR OBLIGATIONS | MAY LOSE VALUE

Adopting a New Year’s Resolution for Financial Strategies

December 28, 2022 By quadcities Leave a Comment

The new year is a great time to review your financial portfolio with your wealth advisor.

Make your 2023 New Year’s resolution a great one! It’s time to line up your long-term financial goals with an effective tax-savings strategy. Now that’s a resolution! As you pull together documentation for filing your tax return, let’s look at a few strategies you can implement that could potentially reduce your stress and future tax obligations.

A Time for Preparation

Evaluating your finances well in advance of tax season will help you better prepare for Tax Day. The key is to start early, especially if you’ve had a major life change like a new home or job. It’s also a good idea to plan if you think you’ll owe taxes or if you qualify for certain tax deductions.

Did you know you can make tax-prep changes to your paycheck leading up to tax season? Periodic assessments of your paycheck withholdings could set up a refund, or even a reduction or elimination of your future tax burden come April.

Turn Investment Losses into Gains

The new year is a great time to review your financial portfolio with your wealth advisor. A wealth advisor will be your guide to evaluating assets that have performed well and assets that have incurred losses. This review can help ensure you are maximizing your investment savings, as well as help estimate your gains and losses.

For example, you might consider avoiding short-term gains, since these are taxed at higher rates. If you are anticipating a short-term gain, offset it with short-term losses or consider holding onto the assets for at least a year (when they become long-term assets).

Stay Organized

Nothing sets you up for success more than knowing your documents are ready to go. You should keep track of your tax and other financial records to avoid delays or frantic preparations as the filing deadline approaches. That includes W-2 forms, canceled checks, certain receipts and previous years’ returns.

Some other helpful items to start gathering are your pay stubs, mortgage payment records, records on charitable giving or donations, medical bills and credit card and bank statements to verify deductions. Find a place to store your tax documents until it is time to prepare to file – early planning may alleviate concerns later as the tax deadline gets closer.

Looking Forward

Proactively planning your financial strategy with your wealth advisor can help you take advantage of the tax opportunities available, all while not breaking a sweat once tax season arrives. QCBN

By Daniel Martinez

For more than 12 years, Daniel Martinez has worked in the financial services industry helping individuals and families align their goals toward financial freedom. He provides clients with a variety of investment knowledge and experience, taking the time to create a personalized financial plan for each client. Martinez is bilingual in English and Spanish. Martinez holds his insurance licenses and is registered through LPL Financial with his SIE, Series 7 and 63 securities registrations. To schedule an appointment with Daniel Martinez, email DMartinez@oneazcu.com or call 928-777-6050. OneAZ Wealth Management is a team of LPL Financial licensed professionals and support staff located in OneAZ Credit Union branches across Arizona providing investments, insurance and retirement planning services intended to guide credit union members toward their financial goals. To learn more about OneAZ Wealth Management, visit OneAZWealth.com or call 877-566-0517.

Securities are offered through LPL Financial (LPL), a registered broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. OneAZ Credit Union (OneAZCU) and OneAZ Wealth Management are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using OneAZ Wealth Management, and may also be employees of OneAZ CU. These products and services being offered through LPL or its affiliates, which are separate entities from, and not affiliates of OneAZ CU or OneAZ Wealth Management. Securities and insurance offered through LPL or its affiliates are: not insured by NCUA or any other government agency, not credit union guaranteed, not credit union deposits or obligations, and may lose value.

Start Your New Year With A Jolly Financial Plan

December 13, 2022 By quadcities Leave a Comment

It’s never too early, or too late, to work with a financial professional to strengthen your retirement plan.

Amid the office holiday parties, the gift shopping and the family gatherings, we also do a lot of looking back at this time of the year. As the holidays approach, it’s also a good time to reflect on your financial goals while starting to plan for the new year. Let’s look at a few financial tips and tricks you can add to your bag of presents this holiday season.

2022 Review In A Nutshell

Take a moment to review your portfolio for 2022, did you meet your goals this year? A good starting point is to assess your income and expenses to understand your cash flow going into the holidays. Identify areas where you can trim costs, and then plan to revisit and revise your yearly budget to make sure it aligns with your personal circumstances.

Establish Long-Term Financial Goals in 2023

Are there any changes to your current retirement plan you’d like to make? Saving for your retirement is a personal decision that will help shape your lifestyle during your Golden Years. It’s never too early, or too late, to work with a financial professional to strengthen your retirement plan.

New Year, New Plan

What are your goals or long-term plans going into the New Year? Unexpected expenses such as a medical emergency, major car repair, or an appliance replacement are good to anticipate with an emergency fund that can pay for these costs. Have you thought about investing in 2023? Investing early and often, such as a small recurring investment over a long period of time, has the potential to produce greater returns than investing a larger amount over a shorter period of time.

Establishing a financial plan with a financial advisor is not a one-and-done proposition. You should plan to meet with your financial advisor each year to realign your goals, assess changes to your financial situation, and get a good look at where you are in your financial plan. There’s no better time to do that than during the holiday season. It doesn’t have to be complicated, and it will help you become better connected to your finances. You can—and should—enjoy the holiday season, and you can do so with your financial advisor on your team.

By Daniel Martinez

OneAZ Wealth Management

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