Financial Planning San Antonio

Is different than in other places.... Tax laws are different..... There are different retirement programs and services..... The cost of living is different
Financial Planning PAX
Chapter 1

Financial Planning San Antonio

Financial planning isn’t just for the wealthy. In fact, financial planning can be even more important if you’re not a billionaire! Knowing what you’ll need to enjoy your retirement years when you’re no longer punching a clock and bringing home a paycheck, understanding how your investments work and tracking how you feel about money, spend money and waste money are all important aspects in life when you don’t want to outlive your money.

And while you may understand finances and Wall Street, financial planning in San Antonio is different than in other places. Tax laws are different. There are different retirement programs and services. The cost of living is different.

When it comes to developing a comprehensive financial plan, working with a financial advisor who is well-established in the state where you live – or plan to live in retirement – can be a huge benefit. He or she can look at your budget, should be aware of any programs that can benefit you and understand how to properly assess your risk tolerance, to name a few of the perks.

PAX Financial Group’s 2021 Financial Checklist:  Top 10 To-Dos

Your 7-Step Annual Financial Planning Checklist

What Is a Monte Carlo Simulation and Why Do Financial Advisors Use It?

Chapter 2


Creating and sticking to a budget is an essential step if you want to live a healthy financial life. However, many people don’t! Usually, the problem is they either don’t know where to start, don’t want to admit to excessive spending and/or don’t hold themselves to following the budget. (When the last is true, a financial advisor can serve as an accountability partner.)

When creating a budget, there are 8 key steps:

  1. Be realistic
  2. Don’t cheat yourself
  3. Review your budget regularly
  4. Get on the same page as your spouse
  5. Keep track of every dollar
  6. Realize that not every month will be the same
  7. Keep an eye on your debt
  8. Expect the unexpected

Making and sticking to a budget can be intimidating and overwhelming, but it doesn’t have to be. A financial advisor can help!

How to Combat Adult Peer Pressure:  Link Your Goals to Your Budget

Chapter 3

Work-Life Balance

At PAX Financial Group, financial planning is not just about investments. Life is short, so you need to enjoy yourself! However, there’s a smart way to balance saving and spending. The secret is finding the right work-life balance.

Taking a look at your finances can not only establish areas where you can cut back – skipping a daily cup of coffee, for example, yet still enjoying a latte on the weekends – but it can also help you set up a plan to pay yourself first, so you have the money later on and can continue to live a lifestyle when you’re no longer bringing home a paycheck.

Working with a financial advisor can help you lay this groundwork. Think about it: If the roof was leaking on your house, unless you were a roofer by trade, you probably wouldn’t repair it yourself, right? Chances are, you’d hire a professional.

In the same way, if financial planning is not your expertise, it can be timely (and ironically expensive) to try to save money and navigate your finances alone.

It’s also important to remember that a plan is just a plan. Emergencies and unexpected expenses will come up, so be flexible and adapt. A financial advisor can help provide people with confidence that their financial situation is taken care of, regardless of what happens.

Work-Life Balance and Financial Planning

Can I Be Financially Responsible and Still Have Fun? Follow This 6-Step Plan

Chapter 4

Health and Wellness in Retirement

Good health is closely tied to a person’s financial plan. How? Think about insurance costs. Long-term care. Medical needs. And people are living longer. Are you set up financially to be able to enjoy those extra years?

There are many things to consider when it comes to retirement and your health, including:

  • Permanent insurance, including whole and universal life insurance
  • Temporary life insurance, or term life insurance
  • Disability income insurance (for most working-age individuals, disability is more likely than death)
  • Health insurance, including Medicare
  • Long-term care insurance

Financial planners can help you understand the terms of a contract, which differ based on the type of work the insured is unable to perform. And they can help you budget for the insurance you need.

A Personal Health and Wellness Plan Can Help You Retire Happy Now

Everything You Need to Know About Retirement Healthcare

Chapter 5

Social Security

Some of the most common questions we get at PAX Financial Group are about Social Security. Will it be there for me? Can I count on it? How do Social Security benefits work? When should I start receiving Social Security?

Talk with a financial advisor before you retire, so you know how much you can count on from Social Security.

At PAX Financial Group, we host several workshops on the topic of Social Security so that our clients feel confident about how it will play into their retirement plans. Before talking with us, some clients thought they would get much more than they really will. Others feared it wouldn’t be there at all and are pleasantly surprised to find out what they will get.

It’s important to discuss your specific needs and situation with a financial advisor you trust before making the all-important decision of when to start receiving your Social Security benefits. Don’t just follow what your neighbor, friend or co-worker did. Your decision can have a huge effect on how you get to live in your retirement years.

5 Surprising Facts You Didn’t Know About Social Security

Chapter 6

Retirement Planning

What your retirement looks like is a big part of your financial planning. How do you hope to spend your days in retirement? Do you hope to spend your newfound time at home with family, which may be pretty affordable, or traveling the world, which could require some extra money? Where will you live? What retirement income streams can you count on? A pension? A 401k? An IRA?

During your working years, you may be “too busy making money” to think about what you’ll do when you aren’t. But it’s important to make the time and discuss your future plans – not just your investments – with a financial advisor so you’re prepared.

This can also be important for your emotional well-being. Retirement is a big lifestyle change. And it can feel a bit jolting at first if you haven’t prepared for the transition. For example, do you have friends that you can spend your time with? Do you have hobbies? Assuming that retirement will be great when you don’t prepare for it can be devastating and often leads to loneliness and even depression.

Where Will Your Retirement Money Come From?

5 Retirement Decisions You Can’t Undo

Chapter 7

Risk Assessment

Every individual has a different tolerance for risk. Understanding your risk tolerance is one of the most important elements in your investment decisions. It’s crucial that you make decisions that you can commit to through the ups and downs of the market.

Are You Taking the Right Amount of Risk in your Portfolio? 

Chapter 8

Estate Planning

Estate planning should also be discussed when talking about your long-term financial goals. Is longevity in your family? What do you want to leave behind when you’re gone? Do you have the right paperwork in place that will help ensure that happens?

It may not be the most fun conversation, but advanced estate planning covers what you want to happen if you become incapacitated or too ill to communicate your wishes regarding your health, long-term care or the disposition of your estate.

Remember, without a plan, you run the risk of your heirs not receiving your assets as you wished and your wishes regarding medical care not being known or followed.

Laws pertaining to estate planning are different depending on where you live, so if Texas is home for you, make sure you talk with a San Antonio financial group when choosing a financial advisor to work with.

For some people, estate planning can be pretty straightforward, but for others, there are a lot of questions. For example, how is a trust different than a will? What is a power of attorney? What do you do when you own a business?

Having the conversation now can benefit your loved ones in the long run.

How to Protect Your Dependents in 10 Steps

Estate Planning San Antonio: How to Help Your Family Financially Through a Trust

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.