Financial Advisor San Antonio

Financial planning in San Antonio is different than in other places in the world. Investors have different issues, different products available to them, different worries and costs.
Chapter 1

Financial Advisor San Antonio – Do You Need One?

Do you really need a financial advisor San Antonio? Let’s find out.

What does a financial advisor do?

This is a complicated question, because not all financial advisors are created equal.

  • There are salespeople who call themselves “financial advisors” or “financial planners” but really only sell products.
  • Some financial advisors provide financial planning services.
  • Full-service financial advisors and financial planning firms can help with financial and retirement planning services, investment management, insurance, tax planning and estate planning to name a few. A Certified Financial Planner (CFP) is qualified to give you comprehensive financial advice as a result of examination, continuing education, board certification and accumulated experience.

Who needs a financial advisor?

If you have some significant assets built up (a home, a retirement fund, savings, etc.) and are wondering about how to protect and/or grow those assets, you’re probably ready for a financial advisor.

If you have started to think about retirement and want to put a plan in place, you may be ready to work with a financial advisor.

How do I choose an advisor?

Finding a financial advisor to work with and trust with your hard-earned money is a big decision that should not be made quickly. Do your homework! Ask questions! Talk to trusted friends or colleagues. Interview a financial advisor you are considering and ask about the services they provide, how they’re compensated, what experience they have and if they will work as your fiduciary.

Do You Need a Financial Planner?
Want to Get Your Finances on Track This Year? Here’s Why You Need a Financial Advisor

Chapter 2

What is a Fiduciary Financial Advisor?

In basic terms, a fiduciary financial advisor is someone who has a legal obligation to put your best interests first.

When financial advisors work on commission, there is a lot of room for a conflict of interest – he or she may suggest a specific product over another simply because of a possible commission. A fiduciary must only recommend products that are in your best interest.

You Should Know This Word: Fiduciary
It’s Not Just About Your Money … It’s About Your Life

Chapter 3

Not Just Investments

Financial planning means different things at different times in a person’s life.

For example, when you’re just starting out, financial planning is about accumulating wealth and setting up a financial plan. If you’re 65 years old or older, financial planning shouldn’t be based on just investments. As you age, things like Social Security and Medicare benefits are also important.

A financial advisor can also help answer questions like:

  • How do you plan to spend your retirement?
  • What do you want to leave behind when you’re gone?
  • Should you or how do you simplify life?
  • How does Medicare work?
  • How does Social Security work?

Comprehensive financial planning can address many concerns you may have.

In Retirement, Financial Planning Doesn’t Equal Just Investments
Professional Tax Guidance: 4 Ways a Financial Advisor Can Help
‘Just In Case’ Preparation – Estate Planning For You and Your Family
What Do I Do Right Now? New Book Looks at Money and Retirement at Any Age

Chapter 4

Holistic Financial Planning

Financial advisors who take a holistic approach to financial planning will take an investor’s specific situation into consideration when making decisions about their finances. Instead of focusing solely on what the market is doing, this approach examines an investor’s life and goals and creates a plan to fit that situation.

While most people plan to retire someday, retirement means something different to everyone.

  • Will you spend time at home with family or travel the world? Both?
  • When do you hope to retire?
  • Will you likely have to care for your adult parents?
  • Is college tuition a concern you have and want to plan for? A wedding? Are there other major purchases you foresee?
  • Will you still have a mortgage in retirement?
  • Do you have dependents you need to think about?
  • Do you have longevity in your family?

A holistic approach to financial planning should take these points into consideration.

According to the Department of Labor, the average American spends roughly 20 years in retirement. With that much life in retirement, make sure you do it the right way.

Holistic Financial Planning: 10 Things to Consider Before Retiring
What is PIVOTing?

Chapter 5

A Financial Advisor for the Middle Class

Most of us aren’t billionaires. And that’s perfectly fine. But it’s essential that we understand this, and more importantly, that we find a financial advisor who understands it. Issues and concerns are different for those in the Middle Class. It doesn’t mean that a financial advisor isn’t important, beneficial or helpful if you don’t have millions of dollars to invest. It means, a financial advisor should know how to work with what you have.

The Pew Research Center states that the range of those in middle-income households was from $42,000 to $125,000 in 2014. But if you dig a little deeper, it really depends on a few other factors. For example, even if you have high income, you are going to be “middle class” if you have six children. You’re also more likely to be “middle class” if you live in expensive communities.

The U.S. Department of Commerce defined “middle class in America” in a 2010 report this way: “…aspirations for homeownership, a car for each adult, health security, a college education for each child, retirement security, and a family vacation each year.”

So, if you have those aspirations, you may be middle class. And your financial advisor’s focus should be clear. There should be no “rich” financial talk and “poor” financial talk. The right advisor should focus on the middle class – what it means to fight and scratch to find a way to send kids to college, buy a home or ever maintain a comfortable lifestyle when no longer bringing home a paycheck. The reality is that middle-class money is tight and more times than not, every dollar is accounted for.

When choosing a financial advisor to work with, make sure you ask questions about who they specialize in helping.

Finding a Financial Group for the Middle Class
Who We Serve

Chapter 6

Financial Advisor San Antonio

Financial planning in San Antonio is different than in other places in the world. Investors have different issues, different products available to them, different worries and costs. For example, Texas (and San Antonino specifically) is prone to natural disasters. There is no state income tax in Texas. A financial advisor San Antonio should be aware of military benefits and programs.

When searching for the right financial advisor for you, make sure you look locally and interview firms that have been long established in the area where you reside – or plan to reside in retirement.

Top 8 Reasons Why San Antonio is a Good Place to Retire
Natural Disaster Planning in San Antonio
Will Social Security Be There For Me? Common Questions About Retirement Planning San Antonio
Retirement Planning San Antonio: Video Conferencing Can Make It Easier
PAX Financial Group San Antonio

This material is provided by PAX Financial Group, LLC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The information herein has been derived from sources believed to be accurate. Please note: Investing involves risk, and past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All market indices discussed are unmanaged and are not illustrative of any particular investment. Indices do not incur management fees, costs and expenses, and cannot be invested into directly. All economic and performance data is historical and not indicative of future results.