This document discusses selecting the appropriate level of security for IoT devices. It outlines common hardware, software, and communication attacks against IoT devices and notes that the cost to attack is often lower than the cost to fully secure devices. The document advocates using a threat model to estimate risks for each application and implementing "right-sized" security that addresses the most critical threats. Examples of security measures are provided, such as device management, integrity protection, encryption, and authentication. The goal is to future-proof devices while recognizing that full security is often not feasible for cost-constrained IoT applications.