Financial Markets will be closed on Monday, September 5th 2022 in observance of Labor Day, therefore our office will be closed as well.
Happy Labor Day!
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There are 84 days until Thanksgiving Day! Which means holiday season is approaching and it is recommended to start planning your holiday travel. Travel experts suggest booking your flights about 90 days in advance. If you have flown recently, you may have noticed that flights have been more prone to being cancelled or delayed, or you have noticed that the price for a flight is a bit higher than usual. All the more reason to book that flight now. Availability will fill up quickly, as we all want to be able to spend holidays with loved ones that may live a plane ride away. So don’t wait, take a look at your calendar and start planning your holiday travel sooner rather than later. |
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In recent years, investors have shown interest in putting their money where their values align. Environmental, Social and Governance, known as ESG, refers to three key factors when measuring the sustainability and ethical impact of an investment in a business or company.
ESG investing at times is also referred to as sustainable investing, responsible investing or socially responsible investing.
When looking at the 3 categories that make up ESG, starting with Environmental- considerations may include management of toxic waste and compliance with environmental regulations. Social criteria looks at the company’s relationships with stakeholders. Prompting questions such as, does the workplace conditions reflect high regard for employee’s health and safety? Does the company donate a percentage of it's profits to the local community? The Governance in ESG assures investors that the company has avoided any conflict of interest in the choice of board members and senior executives.
Click Here to read more about ESG investing. If you have any questions or want additional information, please don’t hesitate to call the office at (518) 584-2555.
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Source: World Economic Forum
Socially Responsible Investing (SRI)/ Environmental Social Governance (ESG) investing has certain risks based on the fact that the criteria excludes securities of certain issuers for non- financial reasons and, therefore, investors may forgo some market opportunities and the universe of investments available will be smaller.
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Grandparent’s Day is September 11th this year! A relationship that deserves recognition is that of grandparents and their financial generosity to their grandchildren. Spending on average of $2,562 annually on their grandchildren, research shows that 94% of grandparents provide some sort of monetary help or gift.
The chart below details the type of monetary support that grandparents often provide:
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Apart from just cash, grandparents can also give the gift of investing! Investing options include Roth individual retirement accounts, 529 plans, trusts, stock or bonds.
Some helpful facts on how to give a monetary gift to a loved one without tax penalties:
✓Write a check. By writing a check, you can give up to $14,000 per grandchild without a tax penalty. If you are married, you and your spouse can jointly give up to $28,000.
✓If you are helping pay for medical expenses, pay directly to the insurance company, health-care provider or hospital. This way you avoid tax penalties and are still able to help.
✓Helping with tuition? To avoid penalties, make the payments directly to the school.
✓Custodial accounts allow you to control how the funds are spent until the age of 21. This helps protect you from tax penalties if, for example, the funds were spent on something other than educational expenses.
Source: North Dakota State University
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We hear the terms, Bear Market and Bull Market frequently, but why were those 2 ferocious animals chosen to represent the market? Bearish and Bullish terms can also be used to describe actions, attitudes or sentiment of an individual asset. Both animals are known for their incredible and unpredictable strength. As we know, a bear market refers to a decline whereas a bull market refers to an increase.
- One thought as to how these 2 animals were chosen is looking at how they attack their opponents, a bull will thrust its horns up into the air, while a bear will swipe down.
- Historically, the term bear came first. Etymologists point to a proverb warning that it is not wise "to sell the bear's skin before one has caught the bear." Bearskin was quickly shortened to bear, which was applied to stock that was being sold by a speculator and the speculator selling stock
- The term bull originally meant a speculative purchase in the expectation that stock prices would rise; the term was later applied to the person making such purchases. The animal seems to have been chosen as a fitting alter ego to the bear.
- Thus poet Alexander Pope wrote in 1720:
Come fill the South Sea goblet full;
The gods shall of our stock take care:
Europa pleased accepts the Bull,
And Jove with joy puts off the Bear.
This eighteenth-century animal imagery caught on, and bears and bulls have been in the stock market ever since.
Source: Investopedia & Merriam-Webster
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Support New Local Businesses |
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Within the past 12 months there has been a surge of new businesses opening in and around Saratoga Springs! More than 25 new restaurants, bars and small businesses have become part of our local community. Cozy coffee lounges, small plates, champagne bars and made from scratch specialties are included in the new food spots. Appealing to other interests, there is also a new in-door golf simulator, floral and plant store, comic store and salon services! Support our new neighbors and spread the word!
To learn more about all the new local spots, click here. |
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Robert Schermerhorn, CFP®
Jamie Usas, CFP®
Operations Manager
Amanda Friedman
Wealth Consultant
Andrew Chapman, CFP®
Operations Research Associate
Lauren Bliss
Office Coordinator
Saratoga Financial Services
18 Division Street, Suite 305
Saratoga Springs, NY 12866
Phone: (518) 584-2555
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Securities & advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC
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