A financial plan will help ensure you responsibly manage your resources, helping you care for your loved ones and achieve your long-term goals. As the respected financial planners at Erie & Associates, P.C. in Texarkana, TX, know the best long-term planning addresses a variety of needs, not just your savings.

For example, your financial plan should also cover the following:

• Estate Planning: While you're accumulating wealth and assets, take the time to ensure they are distributed according to your wishes after you pass. A CPA or attorney will help determine whether a trust would be in your best interests, any tax liabilities your descendants may face, and how best to overcome them.
• Retirement Planning: Speaking with your financial planner will help you solidify your retirement goals, which is the first step to determining how much you have to save before then. Your financial plan should be customized for your needs, income, and risk level and should include a diverse array of savings vehicles. In some cases, your financial planner may encourage you to modify your expectations to conform to more realistic financial outcomes.
• Monthly Budgeting: Once your long-term financial needs are established, your financial planner will help write a budget to help you meet them without accruing unnecessary debt. Your budget should also take into account non-budgetary savings for things, such as a college education, major vacations, home upgrades, and other expenditures that often consume retirement savings.

Whether you're looking for alterations to your financial plan or you’re just beginning your savings, the financial advisers at Erie & Associates, P.C. have the expertise and experience to help you achieve your dreams. Visit them online to learn more about their reputation for high-quality service and the range of options available, or call the offices at (903) 792-6651 to schedule an appointment with one of the financial planners today.