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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Market Update: A Message from the Managing Director
By Sarah Flick March 4, 2020 No Comments
March 4, 2020 The last week or so has been a wild ride between news headlines and financial market action. I thought this would be a useful time to check in with you all and provide some commentary in an attempt to bring a little calm to the perceived craziness in the air. As of 2/28/2020, many financial markets were in correction territory – defined as a 10% pullback. That is not a shocking or terrible thing, but what is highly unusual is the speed at which these markets have come down recently. An old Wall Street saying is that “the stock market takes an escalator up, and an elevator down.” I’m sure many of you have enjoyed the ascending market escalator of the last few years, but now many people are asking when they can get off this falling elevator. Although this temporary drop happened in the blink of an eye, statistics easily prove that this is all within historically normal ranges of market volatility. While we believe that there is no need to panic, and certainly no reason to take actions that don’t match your financial goals & plans, it might be helpful to try to understand why this is happening. Keep on reading...
Buying Your First Home
By Sarah Flick February 27, 2020 No Comments
Home ownership is the cornerstone of the American Dream. But before you start looking, consider a number of things. First, look at buying a home as a lifestyle investment and only secondly as a financial investment. Over time, buying a home can be a good way to build equity. But as recent history has shown, house prices can go down as well as up. Like many other investments, real estate prices can fluctuate considerably. If you aren't ready to settle down in one spot for a few years, you probably should defer buying a home until you are. If you are ready to take the plunge, you'll need to determine how much you can spend and where you want to live. Keep on reading...