Lake Placid, NY Financial Advisors and Resources

Financial Advisor Firms in Lake Placid, NY



(518) 523-2443

1992 Saranac Avenue - Suite 2, Crestview Plaza

Lake Placid, NY 12946

SEC#: 801-31670
Years in Business: 33 years

How Retirement-Friendly is Lake Placid, NY?

  • Population: 2,346
  • % of Population 62 Years and Over: 19%
  • Average Home Value: $271,800
  • Average Monthly Housing Cost: $1,013
  • Average Household Income: $63,955
  • New York Total Tax Burden: 12.79% (Highest in U.S.)
  • New York Property Tax: 4.40% (6th Highest in U.S.)
  • New York Individual Income Tax: 4.96% (Highest in U.S.)
  • New York Sales and Excise Tax: 3.43% (22nd Highest in U.S.)

Lake Placid, NY Financial Advisor FAQs

Make certain your financial advisor is qualified to work with you, has the credentials to support their expertise, and have passed well-respected examinations. From there, you can ask questions about individual retirement accounts (IRA), general provisions for retirement security including Social Security benefits, taxation strategies beyond income taxes for investments, managing debt loads including mortgages and student loans, tax filing techniques that result in more favorable treatment of investment income. Finally seek out an advisor that will work proactively with you to monitor changes in the market so that they are always up to date on what actions will best suit your portfolio requirements.
Financial advisors are excellent help for people with complicated finances. They can consolidate information, forecast future obligations, and plan accordingly.
The most important thing is that they work in the same direction as you. That means that, when your objective is to save and invest for retirement, they should also be looking for tax-preferred vehicles such as 401ks and Roth IRAs (in which taxation is deferred until withdrawal) to accomplish the goal.
A financial advisor's job is to help the client invest according to their risk tolerance, retirement goals, and budget.