Erie Financial Advisor

An Erie financial advisor takes your concerns, goals and values into consideration when helping you design a plan for your future. Financial planning is a multi-stage process that requires a complete evaluation of your assets and liabilities. Before a PA advisor builds your financial time-table, he or she needs a thorough knowledge of your income sources, reserve funds and obligations.

Erie is one of the largest cities in Pennsylvania. Once a capital of industry, the "Flagship City" has expanded its economic base to include health care, transportation and tourism along with manufacturing. With its proximity to urban centers like Buffalo, Cleveland and Pittsburgh, Erie offers abundant opportunities for professional and personal development. Work with an Erie financial advisor to create strategies for your Pennsylvania financial growth.

Understanding and respecting your personal priorities is the professional responsibility of an Erie financial advisor. If your goals include buying a home, saving for parenthood or building enough resources to retire before the age of 65, your advisor's expertise should help you reach those objectives. Before you choose a PA professional, make sure that his or her training and certification correspond to your needs using advanced financial advising search efforts.

Tax Preparation in Erie

An Erie financial advisor with a background in tax preparation may also be a certified public accountant, or CPA. If you have complicated tax issues, an experienced advisor who is also a CPA may be a good candidate for devising your financial plan. Your Erie advisor can guide you through the intricacies of your taxes and help you determine which exemptions and deductions apply to your situation.

If you're self-employed, consult an Erie financial advisor about how you can trim your liabilities by contributing to a tax-deferred individual savings plan. If you find yourself owing taxes, contributing to your individual account may help you cut your bill. You may also qualify for deductions for services and purchases related to your work. An Erie financial advisor with a background in tax preparation can help you itemize your business-related deductions.

A financial emergency may have you considering whether to make an early withdrawal from your employer-sponsored 401k. Ask an Erie financial advisor about your tax liability for collecting from this fund before you retire. Your advisor can suggest alternative strategies and resources for covering emergencies so that you don't have to dip into your reserve or incur a penalty for withdrawing funds.

Educational Savings Plans in PA

The costs of college tuition are rising every year, and many young families are seeking creative ways to finance their children's academic goals. State-sponsored educational savings plans -- also known as ESPs or 529 programs -- allow you to set aside money for tuition and related academic expenses years in advance. Your child doesn't necessarily have to attend school in his or her state of residency to qualify. Check with your Erie financial advisor about the advantages and limitations of an ESP.

Investing in a prepaid tuition plan is a practical, affordable approach to securing your family's future. These state-sponsored programs let you lock in a rate for your child's future tuition costs, so that your savings keep up with the rate of inflation. Most prepaid tuition programs apply to public universities or colleges. Increasingly, private institutions are participating in similar arrangements.

ESPs operate under the same basic principles as an IRA, Roth IRA or other investment savings vehicle. As an investor, you contribute to mutual funds, stocks or bonds established by the plan. Your earnings may vary with the profitability of these investments. The benefits, requirements and incentives offered by each 529 plan differ from state to state -- talk with an Erie ESP expert to learn the specifics for Pennsylvania.

A Comfortable Retirement in Pennsylvania

When you start making plans to retire comfortably in Erie, your first step is defining what the word "comfortable" means to you. Do you want to maintain your current lifestyle, or could you live with fewer conveniences and luxuries after you stop working? The trade-off for making a few sacrifices in your day-to-day comforts could be having greater freedom to travel, visit family or pursue hobbies.

After you retire, you may decide that you can live with one family vehicle instead of two, or that you don't need to spend a lot of money on new clothes or dry-cleaning. With more time to cook, eating out may become an occasional treat instead of a regular expense. An advisor who has experience with the senior population can project how much income you'll need to support the lifestyle you want.

Your Erie financial advisor will help you set your personal priorities for your senior years. Together, you can develop practical savings and investment strategies to fulfill your visions of financial independence. Work with your advisor to achieve freedom one step at a time.

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