Find a Financial Advisor in Washington County

Erin and Jon at the kitchen island in Woodbury

This is an invented example, used only to illustrate local planning. Erin is 47 and manages a department at a company in Saint Paul. Jon is 49 and owns a small heating and cooling business with three employees. They live in Woodbury, their son starts college in two years, and their daughter is in middle school. Each morning Erin drives I-94 toward Saint Paul while Jon heads to job sites across the east metro.

On a Saturday they sit down with a pile of mail. Their property tax statement went up again. The business is doing well, but Jon has no formal retirement plan for himself. Erin’s employer match is only partly used. Their term life insurance was bought when the kids were small, and they are not sure it still fits. Their parents are in their seventies, and one is thinking about a move. It is a typical weekend list in a county where most households own a home, earn more than the state median and have a lot moving at once.

Washington County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, Washington County has a median household income of $115,345 and a median home value of $422,000. The median age is 39.8, about 16.6 percent of residents are 65 or older, 49.1 percent of adults hold a bachelor degree or higher, and 81.3 percent of homes are owner occupied. The survey unemployment rate is 3.4 percent, and the 2025 population estimate is 286,895.

Living in the county, working somewhere else

Washington County sits east of Saint Paul along the Wisconsin border, and the St. Croix River forms its eastern edge. Many residents commute west on I-94 and I-494 to Minneapolis and Saint Paul, some cross the river to jobs in Wisconsin, and others work close to home in healthcare, schools, retail, construction and small business. Woodbury, Cottage Grove and Oakdale hold most of the people, while Stillwater, the county seat, and the river towns have an older, more historic character. The north end includes smaller communities and farmland.

Commuting affects money in ordinary ways: two cars, long hours, fuel, and sometimes a second state’s tax rules. A resident who lives in Minnesota but works in Wisconsin may need to follow reciprocity rules and file forms in both states. Check with the state revenue departments or a tax preparer each year.

Financial planners in Washington County

A financial planner takes the pile of mail and turns it into a plan. For Erin and Jon, the planner would begin with their cash flow and goals, then sort them by deadline: college in two years, retirement in about fifteen to twenty, the business, and the parents. The planner would identify gaps, such as Jon having no retirement plan, and propose steps and dates.

Planners in the east metro tend to meet with families at several stages. Young parents in Lake Elmo or Hugo want a budget that survives daycare costs. Peak-earning professionals in Woodbury need to manage taxes while saving heavily. Empty nesters in Mahtomedi or Stillwater want to know when they can slow down. Our guide to working with a financial advisor lists what to ask at the first meeting.

Investment advisors in Washington County

Investment advisors recommend what to hold and keep it on track. For high earners, the main decisions are often practical: how much to put in a 401(k) or 403(b), whether to add a Roth or backdoor Roth contribution, how to invest a taxable account and what to do with company stock or a bonus. A business owner like Jon may also consider a SEP IRA, SIMPLE IRA or solo 401(k) for himself.

Ask any advisor how the investment strategy connects to your goals and what you will pay in total each year. A written investment policy that states your target mix and when you rebalance is a useful sign. For the basics, see our guide to investing.

Financial advisors in Washington County: fees and what you get

Advisors in the east metro charge in familiar ways. A yearly percentage of assets is typical for ongoing management, and the rate often falls as the account grows. Flat fees suit those who want a plan but plan to carry it out themselves. Hourly rates work for a single question, and commissions apply to insurance and annuity sales.

Because fees compound against you over decades, compare two or three before choosing. Ask what the fee includes: meetings, tax coordination, estate planning referrals, help with benefits. The introduction call on this page costs nothing.

Wealth management in Washington County

Wealth management brings the pieces together when the money has grown beyond simple. In Washington County, it often involves a business owner thinking about a sale or succession, an executive with stock compensation, a family with a large home and a lake or river property, or a household that expects an inheritance. Taxes and estate planning drive many of the decisions.

Minnesota levies its own estate tax at a lower threshold than the federal one, so a household with a paid-off home, retirement accounts and life insurance may owe state tax even if no federal tax is due. Planning tools such as trusts, gifting and careful beneficiary choices can reduce the exposure. Confirm current limits with the Minnesota Department of Revenue or an estate attorney. Our estate planning guide explains the documents involved.

Retirement planning in Washington County

With 16.6 percent of residents 65 or older and many more in their fifties, retirement is a daily topic. Households here often have several sources: a pension for teachers or public employees through the state systems, 401(k) and IRA balances, Social Security and sometimes business sale proceeds or rental income. The challenge is putting them in order.

Minnesota changed its treatment of Social Security income in recent years, and other pension and retirement income may be taxed differently, so confirm current rules with the state or a tax professional. Retirement planning also includes when to claim Social Security, how to fill gaps before Medicare at 65, whether to stay in a large house, and how to pay for care. Read our retirement planning guide for a starting point.

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Life insurance in Washington County

High incomes and large mortgages mean the coverage amount for a family here is often substantial. A couple like Erin and Jon should add up the mortgage, children’s college costs, the business debts, and a few years of income. A level term policy that matches the remaining mortgage and the years until the children are independent is the common solution, and it tends to cost far less than permanent insurance.

For a business owner, life insurance can also fund a buy-sell agreement so partners or family can buy out a share. Permanent policies are sometimes used in estate planning, especially where Minnesota estate tax could apply. Compare options in the life insurance guide.

Property tax, housing and the cost of staying put

With a median home value of $422,000, property tax is one of the largest annual bills for owners in the county. Rates and valuations vary by city and school district, and the value on your statement may differ from what you could sell for. If your bill seems out of line, you can appeal through the county and local board process within the deadlines, and Minnesota offers property tax refund programs that depend on income, so check the Department of Revenue.

Housing costs shape the whole plan. A family with a 30-year mortgage in Cottage Grove has different options from a retiree in Stillwater with a paid-off house. Keep a repair fund, since older homes in the river towns and newer homes in Woodbury both need roofs, furnaces and windows eventually. The budgeting and saving guide shows how to set up a simple monthly plan.

Paying for college in a high-income county

Because many households here earn above the thresholds for aid, college savings do much of the work. Minnesota sponsors a 529 plan that offers a state tax benefit to eligible contributors, and the money can be used at schools in other states. A family with a son starting in two years may focus on what to pay from cash flow, while a family with a toddler has decades to invest. See the college savings guide for the details on how 529 accounts work.

Ice dams, river floods and insurance gaps

Winters in the east metro are long, and heavy snow can lead to ice dams, burst pipes and roof damage. Spring snowmelt can raise the St. Croix River and flood riverfront areas, including parts of Stillwater, and standard homeowners insurance does not cover flood. Severe summer thunderstorms bring hail and straight-line winds, and tornadoes touch down in the region from time to time. Check your wind and hail deductible, which can be a percentage of the home value.

Business owners should review liability, equipment and income protection, since a storm that closes a shop for a month can wipe out a year of savings. An umbrella liability policy is inexpensive for the coverage and worth a quote for any household with teenage drivers.

Hobby farms, family land and the north end

North of the suburbs, Washington County turns rural, with farm fields, hobby farms, wooded lots and lake homes. Families who own acreage often hold land that has been in the family for generations and is now worth far more than anyone paid. That can be a gift and a puzzle. Selling triggers capital gains, keeping it means paying property tax, and splitting it among several children can cause friction.

A planner can help you decide whether to farm it, lease it, sell part of it or place it in a trust. Ask your advisor to bring in an estate attorney and a tax preparer early. Decisions about land are hard to undo, and good paperwork written while everyone is healthy and on speaking terms saves time and money later.

Areas we serve in Washington County

Advisors who serve the area, by phone or video, work with households across Washington County, including Woodbury, Cottage Grove and Oakdale, plus Stillwater, Forest Lake, Lake Elmo, Hugo, Mahtomedi, Bayport, Newport, Saint Paul Park, Afton and the smaller river and rural communities. Video meetings fit commuters who prefer to talk in the evening or at lunch, and phone calls work from the car or the job site.

How to choose a financial advisor in Washington County

1. Request the fee schedule in writing, including every cost.
2. Ask if the advisor is a fiduciary on the advice you want.
3. Search for the advisor on the SEC and FINRA disclosure sites.
4. Confirm credentials such as CFP are current.
5. Ask about experience with business owners, executives or public employees.
6. Ask how the advisor handles taxes and coordinates with your accountant.
7. Ask how often you will meet and who handles your questions.
8. Choose the person who explains clearly and listens without a sales pitch.

Frequently asked questions