Financial Planning and Advice Blog for Syracuse

Want to keep up with the latest news in the financial sector? HighPoint Advisors in East Syracuse, NY makes sure all our clients have the latest up to date financial information to better plan for their future. Feel free to browse the blog below to learn more about the current financial market.
If this blog raises interest or concerns please contact us at

Financial Planning Tips in Your 40s: Make the Right Call

Business Name

By highpointadvisors July 18, 2017

HighPoint Advisors While you can get away with financial mistakes made in your 20s and 30s, every single mistake made in the 40s will have a major impact on the rest of your life and beyond that. It is therefore very important that you make the right decisions from the moment you hit forty. The following are five broad financial areas to focus on that will set the groundwork for a lifetime of financial security.

Pay cash for most things

The idea is to eliminate debt except for big investments such as your mortgage and car payments. The average American household has over $14,000 in credit card debt*. Since the average interest rate for credit card debt is 14%, this means we pay on average $2,000 per year in interests alone – a complete waste of money, right? The sooner you get out of this trap by paying in cash, the more money you’ll have to build you financial future.

Create multiple streams of income

Time flies and as soon as you hit 40, it’s usually only a few more years before you’re retiring. To ensure a financially secure retirement life, consider starting a series of systematic investments and invest as much as you can. You can start with a retirement account. But don’t stop there. A few other options you may want to consider include investing in stocks and mutual, buying Treasury Bills through Treasury Direct, and investing in other vehicles.

Ensure that your mortgage is paid off when you retire

For an even less stressful retirement life, you should make arrangements to have the mortgage cleared early. You don’t want to be paying $2,000 or more towards mortgage each month in retirement. It can be a big burden. Fortunately, there are a few options here too. You can sell the current home and downsize, you can move into your vacation property, or even plan your payments in such a way that you’ll have the mortgage paid off a few years before you retire.

Write a net worth statement each year

The simplest way to go about this is to keep an assets and liabilities statement. Just make it as detailed as possible and ensure to update it each year. Even if you work with a financial planner, the net worth statement should be reviewed at least once a year. This will help you immensely in the future as you’ll be able to focus on getting your assets to overtake your liabilities.

Run a retirement calculator annually

You are always advised to save towards retirement. In fact, you need to know how much you should be saving monthly depending on your current earnings and the kind of retirement life you wish to have. Failure to save appropriately can have very painful consequences. To find out if you’re saving appropriately, run a retirement calculator every year. There are several retirement saving calculators out there that you can use.   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.   *Source: CNBC...

Continue ReadingRead More

Top Attractions and Things to Do in Syracuse, NY

Business Name

By highpointadvisors June 30, 2017

HighPoint AdvisorsLocated in Onondaga County, New York, Syracuse is blessed with amazing sights and breathtaking tourist attractions. We look at some of the top free leisure spots within this beautiful city.

E.M. Mills Memorial Rose Garden

Located at the southwest corner of the Thornden Park is a beautiful rose garden known as the E.M. Mills. It’s a magnificent garden with more than 3,000 rose bushes which bloom in the summer and spring. The garden is maintained by volunteers from the Syracuse Rose Society and attracts dozens of artists and photographers on any given day. Thornden Park also includes a 50-meter outdoor pool, tennis courts, a multi-purpose athletic field, and a playground for kids.

Armory Square

The most popular area of downtown Syracuse, Armory Square is always full of locals and tourists alike who love to enjoy the outdoors. The place is lined with boutiques, coffee shops, restaurants, and many other attractions. At the corner of the Walton of Walton and Franklin Streets stands another famous attraction – the 24-second shot clock which is a tribute to Syracuse native Danny Biasone, the inventor of the game-changing pro-basketball innovation.

Onondaga Lake trails

If you feel like spending some time alone as you enjoy the pleasures of nature, there is more than nine miles of public trails along the shore of the Onondaga Lake – the West Shore Trail which meanders through over 4.5 miles of quiet woodland and open areas being the longest of them. While there, don’t forget to check out the recently added extension to the tail which offers spectacular lake and city views.

Community Folk Art Center

The Community Folk Art Center was founded in 1972 and showcases African Diaspora Artists. Among other things, you’ll enjoy thrilling exhibitions, gallery talks, film screenings, workshops, and courses in studio and performing arts. It’s located at 805 E. Genesee St. and open 10am to 5pm Tuesday to Friday and 11am to 5pm Saturdays.

Onondaga Public Library Main Branch

The Onondaga Library is as old as they come having been built by the City of Syracuse in 1905. However, an $8.7 million renovation is currently underway which will transform the library into a modern, 21st century resource. Once completed, the ground floor will feature a “maker space” where visitors can learn, create and build. There will also be a music recording studio, a 3-D printing machine, and many other tools.

Webster Pond

The Webster Pond is a 95-acre sanctuary in the Valley, off the Valley Drive. It’s open daily and provides an excellent place to unwind. But it’s not just that. The place is also home to the Anglers Association of Onondaga, a non-profit organization which offers a myriad of programs including fishing instructions for kids and adults. There are also plenty of wildlife to see including Canada geese, deer, mink, raccoons, woodchuck, turtles, herons, purple martens, and many others. These are just a few examples. There are many other awesome attractions in Syracuse – Destiny USA, Clinton Square Festivals, The Central New York Regional Market, Salt Museum, the Erie Canal Museum – the list is endless....

Continue ReadingRead More