Are you thinking about retiring but wondering if you’re financially ready?
You’re not alone. According to recent surveys, 68% of Americans are unsure whether they’ll ever be able to retire. Many find themselves asking tough questions: Have I saved enough? Will my income last? What if unexpected costs come up?
Deciding when to retire involves many moving parts, and misjudging readiness could lead to financial stress during what should be a fulfilling time. Without objective support, it’s easy to overlook hidden risks or make decisions based on emotion rather than data.
That’s where working with a financial advisor in San Antonio can make a meaningful difference.
This article from PAX Financial Group outlines the challenges of retirement readiness and how financial professionals provide guidance and personalized strategies for one of life’s most important decisions.
The Challenges of Determining Retirement Readiness
Several factors—some predictable, others less so—can influence whether you’re financially prepared to retire.
For starters, how much you’ve saved and how those investments have performed will directly affect your retirement timeline. But savings alone aren’t the whole picture. You’ll also need to consider how much income you’ll need each month based on the lifestyle you envision. That includes everything from groceries and travel to property taxes and home maintenance.
Healthcare is another primary consideration. Medical expenses often rise with age, and without planning, even a solid portfolio can come under pressure. Longevity adds further uncertainty—retiring at 65 and living to the late 80s and 90s means your money needs to last 20 years or more.
San Antonio retirees also face specific concerns, such as rising housing expenses and navigating Texas’s unique tax environment.
While some people try to crunch the numbers on their own, it’s easy to overestimate income or underestimate costs—mistakes that can lead to unpleasant surprises. Professional insight helps bridge that gap. A skilled San Antonio retirement advisor can help turn guesswork into a well-grounded plan.
How a Financial Advisor Assesses Your Retirement Readiness
It’s well known that not all financial advisors are created equal. At PAX Financial, our advisors serve as fiduciaries, meaning they are dedicated to putting your best interests first. Their recommendations are driven by solutions specific to your needs, not by commissions or product sales.
So, to determine your retirement readiness, a San Antonio fiduciary considers all the key factors—how much you’ve saved, what income sources you’ll have, and how those match up with your expected expenses. But it doesn’t stop there. They also test your financial plan against a range of possible outcomes.
Here are a few ways they do that.
Cash Flow Analysis
They’ll evaluate your projected income—Social Security, pensions, retirement accounts—and compare that against estimated spending. This helps you see how long your money may last based on different retirement start dates or lifestyle choices.
Stress Testing Your Plan
Using tools like Monte Carlo simulations, they’ll assess how your portfolio might perform under thousands of market scenarios. This gives you a clearer view of how longevity and volatility could impact your finances.
Social Security and Pension Evaluation
Timing matters. Your advisor can help you determine when to claim Social Security to maximize benefits and how your pension (if applicable) fits into the overall strategy.
This holistic approach helps prevent costly oversights, like withdrawing too much too soon or missing tax-saving opportunities. Instead of hoping everything works out, you gain a detailed snapshot of what’s likely—and how to prepare for what isn’t.
Key Strategies Advisors Use To Prepare You for Retirement
Once your financial advisor understands your situation, the next step is developing a strategy that supports your transition into retirement and sustains it for decades to come.
Here are strategies fiduciary advisors may use:
1. Income Planning
Advisors help you build a sustainable withdrawal plan so that you don’t outlive your assets. This might include customized tax-efficient distributions based on your risk tolerance, investment mix, and projected expenses.
2. Tax Optimization
A well-timed Roth conversion, smart use of tax-deferred accounts, or even leveraging HSAs can reduce your tax liability throughout retirement. Advisors map out when and how to draw income in ways that help you keep more of what you’ve earned.
3. Risk Management
Diversification goes beyond simply holding different types of investments. Your advisor will review your overall exposure—sector, geographic, and asset class—and make adjustments to better protect against downturns, especially as you shift from growth to preservation.
4. Social Security Optimization
Choosing when to claim Social Security is a major decision. Waiting longer typically results in higher monthly benefits, but it doesn’t always make sense for everyone. San Antonio retirement planning advisors help assess the timing that fits your situation.
5. Healthcare Planning
Medical costs can eat into your nest egg quickly, especially if you retire before Medicare eligibility. Advisors prepare for these scenarios by reviewing insurance options, estimating out-of-pocket expenses, and integrating them into your retirement budget.
By applying these strategies together, fiduciary advisors like those with PAX help San Antonio retirees create a plan that adapts as life changes rather than relying on rigid, generic formulas.
PAX’s Financial Advisors in San Antonio Support Retirement Readiness
With over 100 years of combined experience, PAX has assembled a team of advisors passionate about helping individuals and families pursue their vision of financial success. Our team includes CERTIFIED FINANCIAL PLANNER™ professionals, Accredited Investment Fiduciaries®, and insurance professionals to address your unique needs.
We serve retirees and pre-retirees throughout San Antonio, Texas, and across the U.S. with a combination of deep financial expertise and a values-based approach rooted in Judeo-Christian principles.
Our services include retirement income planning, tax strategies, investment management, retirement plans for business owners, and legacy and charitable planning.
Many people seek our help when they are five to ten years away from retirement—a critical window to evaluate savings, fine-tune portfolios, and begin cash flow planning. Others come to us during a significant life transition, such as selling a business, receiving an inheritance, or changing careers later in life. Some simply feel unsure and want an experienced voice to help assess whether retirement is truly within reach.
No matter where you are on your retirement journey, our team is here to assist.
Contact us for a complimentary retirement readiness assessment.
