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 info@highpointadv.com.

3 Simple Ways to Recover from a Late Start to Retirement Planning

Middle-Aged Couple With Financial Advisor

By highpointadvisors September 28, 2018

Middle-Aged Couple With Financial Advisor

When you first entered the workforce as a young adult, planning your retirement was likely the last thing on your mind. After all, the professional world is full of opportunities to make progress and increase your earnings, allowing you to invest more easily than when you were still building your expertise. But most financial experts recommend beginning a retirement plan in your 20s, and despite its importance, this advice can seem daunting, causing many to put off retirement planning until they’ve attained greater financial stability.

If you’ve gotten a late start to retirement planning, you’re not alone, and you have options. Here, we’ll delve into the steps you should take to kick-start your retirement plan.

1. Reinvigorate Savings Efforts
It’s obvious advice, but a savings strategy is a fundamental component of an effective retirement plan. In many cases, increasing the amount of money that’s being funneled to your savings accounts can require certain lifestyle changes. But, ultimately, carefully planning to delegate a portion of each paycheck to a savings account, IRA or another savings avenue can help set you up for a much more comfortable life upon your exit from the workforce.  You should consider performing in-depth research to identify opportunities for investment in options that suit your unique financial situation.

2. Pay Off Debts

Retirement is a period best spent relaxing and soaking up all that life has to offer. This is difficult when substantial unpaid mortgages and other high-interest debts are brought into the mix. If you’ve only been paying the bare minimum on your debts, consider allocating any extra money toward these payments to diminish the effect they’ll have on your retired life.

3. Get Reliable Financial Advice
Arguably the most important step of the retirement planning process is to get in touch with a financial advisor you can trust to provide advice that takes your unique circumstances into consideration. Knowledgeable financial advisors should consider not only your earnings and your retirement goals, but your real estate assets, investments and any other factors that may play a role in your general ability to achieve a comfortable retirement. Then, they’ll provide sound advice based on their financial expertise, which you can use to help pursue an even brighter future for you and your loved ones.

Syracuse, New York’s Experienced Financial Advisors

If you’ve yet to begin saving for retirement, there’s no better time to start. The friendly team of financial professionals at HighPoint Advisors, LLC can help you develop an investment approach that addresses your current needs while helping you lay the foundation to work towards a confident retirement. Call us at 315-627-0474 or contact us online to schedule your meeting with a HighPoint advisor.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. No strategy can ensure success or protect against loss. Investing involves risk including loss of principal.

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Back to School

Business Name

By highpointadvisors September 7, 2018

Dear Valued Investor: It’s back to school for students all across the country, and whether it’s the first week in kindergarten, high school, or college, parents and students alike are excited yet probably nervous at the same time. What will the new school year bring—and can it live up to our hopeful expectations? This is likely how many investors may feel about the markets right now, with reasons for excitement and some causes for concern. Overall, when it comes to market fundamentals, the positives may outweigh the negatives—and hopefully the same will be the case for the 2018–19 school year. Strength in several economic and market indicators is driving optimism among consumers and businesses. The Institute for Supply Management manufacturing index has soared to a 14-year high, while the job market also continues to show robust growth. As we await the figures for August, the economy has produced an average of 215,000 new jobs during the first seven months of the year. These positive economic indicators cement expectations of an additional interest rate increase at the Federal Reserve’s (Fed) September meeting; given the Fed’s gradual and transparent rate hike campaign, however, investors in U.S. markets have thus far taken these increases in stride. Along with a steady economy, corporate America continues to deliver solid performances, as second quarter earnings season delivered very strong profit growth. Meanwhile, generally upbeat forward-looking guidance, along with high business and consumer confidence, helps support the outlook for earnings over the balance of the year and into 2019. With this backdrop, the now longest bull market in history may have further to go. Although stocks have been performing well, there are some areas of concern. September is historically the weakest month of the year for stocks. There are also some trouble spots in emerging markets, including Turkey and Argentina, which have led to year-to-date losses in emerging market investment strategies. Policy risk remains in the background with the ongoing trade tensions and the upcoming midterm elections. These factors may lead to a pickup in near-term market volatility, but stocks still have the potential to push higher from current levels over the rest of the year. The longest bull market, and one of the longest economic expansions, means investors may worry that the good times will soon come to an end. But it appears that both the bull market and expansion have room to run. The U.S. economy is enjoying solid momentum, bolstered by the new tax law; business spending is picking up; the manufacturing sector is healthy; and the latest earnings season was one of the strongest on record. So although there are areas to keep a close eye on, and the potential for some ups and downs in the market, we can retain a positive outlook for the final months of 2018. Let’s hope that students, teachers, and parents can also put their worries aside and enjoy their return to another school year. As always, if you have any questions, we encourage you to contact us! Sincerely, The HighPoint Advisors Team Important Information The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual security. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Economic forecasts set forth may not develop as predicted. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. This research material has been prepared by LPL Financial LLC. ...

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