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.
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Nine Steps to Raising Money-Smart Kids

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By Sarah Flick November 6, 2019

girls with lemonade standThere are many ways to teach your children good money sense. You can fall back on stories of how you used to earn, save and spend money all those years ago. You can fill their heads with lessons on how important it is to be careful and wise with their money. However, the bottom line is that experience is the best teacher. The key is to have your children learn by doing. Here are some ways you can encourage your children to save and manage money. In addition to the short-term benefit — having children who realize that money does not grow on trees — you will be instilling in them financial responsibility they can carry with them through adulthood.

1. Get them interested in money early

When your children are very young (perhaps age three or four), show them how to tell different coins apart. Then give them a piggy bank they can use to store up their change. A piggy bank (or even a wallet or a purse) is a tangible place to keep their money safe. Using a clear piggy bank is probably best, as this will allow your child to hear, feel and see the money accumulating. Once saving has begun, let children spend money on treats, buying things both when there are just a few coins in the bank and when it is completely filled. This way, they will come to realize that a little bit in the bank buys a small treat but a full bank enables them to purchase something special. When your children are a little older, try playing games to help them understand the difference between needs and wants. When riding past billboards or watching television, for example, ask them to identify whether each product advertised is a need or a want. Tally their score, and when they have accumulated enough points by guessing 10 or more correct answers, treat them to a want. (more…)...

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The Millennial’s Guide to Financial Adulting

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By Sarah Flick September 25, 2019

It happens quickly – you trade in your graduation cap for your first real job, first apartment and perhaps your very first car. But six months after graduation day, that first student loan payment arrives, and almost instantly, you feel overwhelmed. You knew adulting would be tough, but you had no idea how difficult it would really be until that very moment. More than any generation that came before, millennials are facing the highest rents, highest home prices and highest college costs. When you consider these factors, it makes sense why so few young people feel financially secure. Fortunately, you’re not alone. Financial professionals Joseph Viviano, AJ Loedel and Patrick Newton of HighPoint Advisors understand the challenges millennials experience all too well. And they want you to know that a lot of what makes adulting so hard is actually what financial advisors do, like creating a budget, saving for a first-time home purchase, and managing an investment portfolio. “After graduating college, likely with thousands of dollars in student loan debt, many young people ask, ‘Where do I start?’” says Loedel. Even after you’ve established yourself as a young professional, it's easy to feel lost, confused and alone when it comes to financial planning. You may assume you don't have enough money to speak with an advisor or that your questions are too basic. However, with the help of a financial advisor, millennials can start adulthood off on the right foot. (more…)...

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