Fingerlakes Wealth Management

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Fingerlakes Wealth Management 450 N. Aurora St., Ithaca, NY 14850 Phone: 607-257-1008 Website: www.FingerlakesWM.com is strictly forbidden under current securities laws.

An Experienced, Trusted Financial Advisor, providing unique solutions for your investment needs, and your Financial Planning and Wealth Management. Fingerlakes Wealth Management is a comprehensive Fee Based Financial Planning Firm. Our philosophy is to provide our clients with both personal and professional service. We offer Investment Advisory Service, Estate Planning, Tax Efficient Investing, Risk Management, and Insurance. While we appreciate your comments and feedback please be aware that any form of testimony from current or past clients about their experience with Fingerlakes Wealth Management, Inc. Also, please be aware that while we monitor comments left on this page, we do not endorse or necessarily share the same opinions expressed by site users. Please honor our request to limit your posts to industry-related educational information and comments. Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client's evaluation.

If you’re 73 or older, there’s one year-end deadline you don’t want to overlook: your Required Minimum Distribution (RMD...
10/13/2026

If you’re 73 or older, there’s one year-end deadline you don’t want to overlook: your Required Minimum Distribution (RMD). Missing it could trigger a 25% IRS penalty.

One option many people don’t realize they have is Qualified Charitable Distributions (QCDs). They allow you to satisfy your RMD while sending up to $111,000 directly to charities you support, without increasing your taxable income.

Have you already planned your year-end distributions, or are you considering a charitable distribution this year? Let us know what organizations you love to support in the comments!

This time of year brings a renewed focus on organization, learning, routines, and planning.It's also a good time to revi...
10/02/2026

This time of year brings a renewed focus on organization, learning, routines, and planning.
It's also a good time to revisit some of the financial fundamentals that form the foundation of broader financial literacy.

These include:
𝗦𝗮𝘃𝗶𝗻𝗴 - understanding the concept of setting money aside for future needs or goals.
𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 - recognizing where money goes and how individual purchases affect available resources.
𝗕𝘂𝗱𝗴𝗲𝘁𝗶𝗻𝗴 - organizing income and expenses and understanding how financial resources are allocated.
𝗚𝗼𝗮𝗹 𝘀𝗲𝘁𝘁𝗶𝗻𝗴 - identifying short-term and long-term financial objectives.
𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 - learning how different investments work, including the relationship between potential return and risk.
𝗟𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴 - understanding how financial decisions can be connected to future priorities.
These concepts may sound basic, but they provide important context for many of the financial topics people encounter throughout their lives.

Just as students build knowledge one lesson at a time, financial literacy can develop gradually through education and experience.

This season, we're highlighting the fundamentals that help make more complex financial conversations easier to understand.

Which financial foundation would you like to see us explore in greater detail? Tell us in the comments, and we'll use your suggestions for future educational content.

Financial education doesn't end when school does.As people move through different stages of life, the financial topics t...
10/01/2026

Financial education doesn't end when school does.

As people move through different stages of life, the financial topics they encounter can become increasingly complex.

A young adult may be learning about their first paycheck, budgeting, banking, or credit. Later, financial decisions may involve homeownership, education funding, insurance, investing, retirement accounts, taxes, estate planning, or other areas of financial planning.

Each stage can introduce new terminology, rules, considerations, and decisions.

Financial literacy is therefore better understood as an ongoing learning process rather than a subject that can be completed once.

Even familiar financial topics can become more complicated as circumstances change. Continuing to learn can provide greater understanding of the financial concepts that affect different stages of life.
The back-to-school season is a fitting reminder that education can be lifelong—including financial education.

Some of the most practical financial lessons happen outside of a traditional classroom.Everyday activities can create op...
09/30/2026

Some of the most practical financial lessons happen outside of a traditional classroom.

Everyday activities can create opportunities to introduce children to basic financial concepts. Grocery shopping can demonstrate price comparisons. Planning a purchase can introduce budgeting. Saving toward a specific item can demonstrate goal setting. Discussing how money is earned can provide context for income and spending.

The goal of financial education isn't necessarily to introduce complicated financial terminology at an early age. Instead, age-appropriate conversations can help children gradually become familiar with fundamental concepts.

As children grow, those conversations can become more detailed. Topics may eventually include checking and savings accounts, credit, interest, investing, taxes, insurance, retirement, and other aspects of personal finance.

Financial literacy develops over time, much like other areas of education. The concepts introduced early can provide a foundation for understanding more complex topics later.

Back-to-school season is a reminder that learning doesn't only happen in the classroom. Financial education can be part of everyday life as well.

Share this post with a parent or caregiver who is helping a young person learn about money.

Financial goals can look very different depending on a person's stage of life.For a child, a financial goal might involv...
09/29/2026

Financial goals can look very different depending on a person's stage of life.

For a child, a financial goal might involve saving for a purchase or learning how to manage a limited amount of spending money. For an adult, financial goals may include education expenses, a major purchase, retirement, charitable giving, or other long-term priorities.

While the goals may differ, the basic concept is similar: a financial goal identifies something a person or family is working toward and provides a point of reference for financial planning.

Goal setting can also introduce the difference between short-term and long-term objectives. Some goals may involve a relatively short timeframe, while others may require consideration over many years.

Another important concept is that financial goals can change. Education, employment, family circumstances, economic conditions, and other factors can influence financial priorities over time.
Understanding how goals fit into the broader financial-planning process is an important part of financial literacy.

What financial topic would you like us to explain next? Leave a suggestion in the comments.

Time is an important concept when learning about investing and long-term financial growth.Compound growth describes a si...
09/28/2026

Time is an important concept when learning about investing and long-term financial growth.

Compound growth describes a situation where growth can build upon previously accumulated growth. Over longer periods, this mathematical effect can become an important part of understanding how certain investments and savings can change over time.

For children, the concept can be introduced with a simple example: imagine placing a small amount into an account that earns a return. If the earnings remain in the account, future growth may be calculated on both the original amount and previously accumulated earnings.

The actual results of investing depend on many factors, including the amount invested, the rate of return, the frequency of compounding, fees, taxes, and the amount of time involved. Investment returns are not guaranteed, and different investments carry different levels of risk.

The broader lesson is that time can be an important variable in financial planning and investing.
Learning how compounding works can help provide context for conversations about saving, investing, and long-term financial goals.

Follow Finger Lakes Wealth Management for more educational explanations of financial concepts.

When families talk about the cost of higher education, tuition is often the first number that comes to mind. However, th...
09/27/2026

When families talk about the cost of higher education, tuition is often the first number that comes to mind. However, the overall cost of attending college can include many other expenses.

Depending on the school, location, and individual circumstances, students and families may encounter costs related to housing, meals, books, supplies, transportation, technology, and personal expenses.

Understanding the different categories can provide a more complete picture of what attending college may involve financially.

College expenses can also vary considerably between institutions. Public and private schools may have different tuition structures, while living arrangements and geographic location can influence housing, transportation, and other costs.

There are also different ways families may approach education expenses. Some may use savings, current income, financial aid, scholarships, student loans, or a combination of resources.

The important financial-literacy lesson is that the published tuition figure may represent only one component of the total cost of attendance.

Understanding the full range of potential expenses can make college-cost discussions more comprehensive.

Share this post with a parent, student, or family member who is beginning the college-planning conversation.

A budget is one of the basic tools used to understand personal finances.At its simplest, a budget provides a way to orga...
09/26/2026

A budget is one of the basic tools used to understand personal finances.

At its simplest, a budget provides a way to organize income and expenses. It can help illustrate how available resources are allocated among different categories and financial priorities.

For children, budgeting can be introduced through relatively simple examples. Consider a child who receives a set amount of money for the month. That money might be divided among school-related expenses, entertainment, personal purchases, and savings.

This type of exercise can introduce several important financial concepts at once: limited resources, prioritization, planning, and tracking.

Budgeting can also demonstrate the difference between needs and wants. While both can involve spending, they don't necessarily have the same level of importance or urgency.

As financial circumstances become more complicated, budgeting can involve additional categories and considerations. The underlying concept, however, remains the same: understanding what comes in, what goes out, and how resources are being allocated.

What budgeting topic would you like us to explain in a future post? Leave your suggestion in the comments.

One of the foundational concepts in financial education is saving.For young people, learning this concept can provide an...
09/25/2026

One of the foundational concepts in financial education is saving.

For young people, learning this concept can provide an introduction to planning for something that may happen in the future.

A savings goal can make the idea more tangible. A student might save toward a book, an activity, a larger purchase, or another personal goal. The specific goal matters less than understanding the relationship between money received, money spent, and money set aside.

Saving also introduces an important financial concept: delayed gratification. Instead of using resources immediately, saving involves considering a future purpose and making a conscious decision about how available money is allocated.

As students grow older, the concept of saving can become connected to broader financial topics, including emergency savings, education expenses, major purchases, and long-term financial planning.

Back-to-school season is often associated with new classes, new routines, and new opportunities to learn. It can also be...
09/24/2026

Back-to-school season is often associated with new classes, new routines, and new opportunities to learn. It can also be a natural time to introduce young people to another important area of education: financial literacy.

Financial foundations are built through an understanding of basic concepts such as saving, spending, budgeting, earning, and setting financial goals. These concepts may seem simple, but they provide context for many of the more complex financial decisions people encounter later in life.
For children and teenagers, financial education can happen through everyday experiences.

Comparing prices at the store, discussing the difference between needs and wants, setting a savings goal, or talking about how a budget works can turn ordinary situations into practical learning opportunities.

Financial literacy is not about knowing everything at once. It is a process of building knowledge over time and becoming familiar with the principles that influence financial decisions.

Address

450 N Aurora Street
Ithaca, NY
14850

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 4pm

Telephone

+16072571008

Website

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