How to Plan and Budget to Reach Your Financial Goals

Financial Goals

Fall is in the air, summer vacation is a distant memory, the kids are back at school, and you might even be looking ahead to the holiday season. With only a few months left in the year, the autumn months are a great time for a financial checkup to see if you’re on track to meet your personal finance goals.

While 2022 has been volatile for the financial markets, interest rates are climbing, and inflation is taking its toll – I always advise investors to look beyond the headlines and trust that time is on your side, and it will help you weather the storm. If you’re new to investing, don’t be deterred by these turbulent times. When it comes to financial planning and investing, it’s best to start as soon as you can. Time is your greatest asset because it allows you to persevere through volatile market conditions.

Misconceptions about Financial Planning

There are a lot of misconceptions when it comes to financial planning. Sometimes people think that they need to make a lot of money to work with a financial planner, or they’re too young to start saving for retirement. The reality is that it’s never too early to start, and the sooner you do, the better off you’ll be. When you work with Trustco Bank to plan for your future, we understand that everyone’s situation is different and that reaching your financial goals is important to you. Rest assured, it’s a priority for us, too.

We value everyone’s unique position. If you’re already an investor, you know that this year is presenting opportunities amid volatility. Your team at Trustco can help you identify strong buying opportunities if you have longer to invest. If you’re planning to retire in the next decade, now is the time to get the guidance to make sure you have an appropriate amount of cash available to take care of your expenses while ensuring that your investments remain strong. And if you’re an adult early in your career, you might be interested in learning how you can manage student loan debt while saving for a home purchase – we can help with that, too.

With Trustco, you benefit from working with an experienced team that approaches all our clientele with the same level of care – whether you have a modest savings account or you’re a multimillionaire. Our team wants to understand your goals, your tolerance for risk and volatility, whether you’re planning to make any major purchases and how much cash you need available. With this information, we’ll design a plan that’s tailored to you, your lifestyle, and your financial goals.

About Patrick LaPorta:

Patrick has been with Trustco Bank for over 22 years. He is the bank’s Chief Trust Officer, and he is responsible for the day-to-day operations of Trustco’s Financial Services Department. He has over 30 years of experience handling estates, trusts and estate planning as an attorney. Trustco Bank operates 147 branches in total, 53 located within the state of Florida, 39 of which are in Central Florida. To learn more visit www.TrustcoBank.com or call 407-794-1441.