Plan for the Future

Smiling couple looking at paperwork


The Financial Planning Process

There are six basic steps you can make to help determine the best route to your financial goals. Reach out to one of Extraco's Wealth & Trust consultants to learn more.

Set Goals

While this seems pretty basic, we know that this area gets overlooked. Consider your short-term, long-term and "wouldn’t it be nice to have term goals." Be as honest as possible with yourself when setting your goals. After all, this is your life! How do you want to live it?

Gather facts

Take the time needed to gather and organize your financial documentation. This may include sorting through digital folders, paper file cabinets and tax records. Be sure to include assets and debts, cash flow, tax returns, insurance policies, wills and legal papers that could include relevant information.

Identify challenges and opportunities

Take a moment to quantify the picture you have painted in your head. Identify any challenges or opportunities you might face as it pertains to cash flow and debts, college planning, retirement planning and risk management. Remember, this is just how things look today. We can work together to adjust your future.

Develop your plan

Let’s get to the nitty-gritty – Your plan should take into consideration your values and risk tolerance. At the end of the day, it should provide you with a variety of options to consider and implement. 

Implement your plan

Taking action is quite possibly the hardest part of the planning process. We want to make it easier for you though. Your plan may involve an increase to your regular savings, purchasing additional insurance, or contributing to an IRA and/or investing. Whatever your next step looks like for you, we can help. 

Follow up and review yearly

This final step is often overlooked and is critical to reaching your destination. You should review your plan annually to adjust your goals as necessary for your current life situation. While this may sound difficult, it isn’t. We’re here to help.


Working with a Consultant

Choosing to work with a professional who can provide a holistic plan is an important decision. There are specific certifications these individuals obtain to be considered a true Financial Planner.

At Extraco, our team of experienced and investment professionals are available to provide you strategic advice and solutions.

If you choose to use someone else, be sure to ask the appropriate questions:

  • What experience do you have?
  • What services do you offer?
  • Can you provide me with a complete range of products?
  • What’s your approach to financial planning?
  • How will I pay for your services?
  • Can I have it in writing?

At the end of the day, it’s important to go with professionals you can trust – Someone looking at the holistic approach to your finances. 


Ready to get started?

Let us help you with your financial planning goals.

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Important Disclosures and Information

  • Extraco Banks is a Member FDIC