Find a Financial Advisor in Atlantic County

Tides, nor’easters and tourism cycles: Atlantic County’s money problem

Atlantic County has more water than most places in New Jersey: the ocean on the east, back bays behind the barrier islands, and tidal rivers and marsh reaching far inland. During a nor’easter or a full moon high tide, streets in parts of Ventnor, Margate, Brigantine and Atlantic City can flood without any rain. Superstorm Sandy in 2012 left a lasting memory, and many owners rebuilt higher or paid for new flood policies afterward.

A second problem follows the calendar. Casinos, hotels, restaurants and shops hire heavily in summer and cut hours in winter. According to the Census data below, unemployment is 8.8%, which is high for a New Jersey county. A household with a tip-based or hourly job can have a strong July and a hard February, so the first job of a money plan here is to turn an uneven income into steady monthly bills.

Advisors who serve the Atlantic County area, by phone or video, can help you with that and with the longer view. The sections below explain each kind of advisor and then turn to the tax rules, shore property and the older population of the county.

Atlantic County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, Atlantic County has about 278,657 residents with a median age of 42.3. Median household income is $78,050, and per capita income is $41,637. The median home value is $295,000, median gross rent is $1,376, and the median owner cost with a mortgage is $2,185 a month. About 68.7% of homes are owner-occupied, 31.8% of adults have a bachelor’s degree or more, 19.9% of residents are 65 or older, and unemployment is 8.8%.

Life insurance in Atlantic County

Households that depend on hourly or tip income often have little cushion if a wage earner dies or becomes disabled. A dealer or server in Atlantic City with two children and a mortgage in Pleasantville might have only a small policy through work. Employer coverage often ends if the job does, and the casino business has many ups and downs.

A personal term policy stays with you. Match the length to the mortgage and the years until the youngest child is on their own, then compare quotes from several companies. Disability insurance deserves equal attention, because a long illness is statistically more likely than an early death. Union members should check what their plan includes, and what happens if hours fall short of the eligibility threshold. Our life insurance guide explains the options.

Older homeowners in Ventnor or Margate sometimes consider permanent insurance to pay estate or inheritance taxes. Compare it carefully with simply setting aside the money.

Retirement planning in Atlantic County

About one in five residents is 65 or older, and many longtime shore residents have pensions from casino unions, school districts or government jobs, plus Social Security. Sort out those sources before you set a date. A union pension may offer a lump sum or monthly payments, with survivor choices that last for life.

New Jersey does not tax Social Security benefits and offers a retirement income exclusion, subject to income limits and age rules. The state also taxes other income at graduated rates. Confirm current details with the New Jersey Division of Taxation or a tax professional. Many retirees consider moving to a state with lower costs, yet some stay for family and healthcare. Property taxes are among the highest in the nation, so New Jersey offers programs that reduce the bill for eligible seniors and veterans; check eligibility with your municipality.

Our retirement planning page explains the planning steps in order. Medicare timing, supplemental plans and long-term care all deserve attention. Health care costs rise with age, and a shore-town retiree who owns a flood-prone house has two big costs to manage at once.

Wealth management in Atlantic County

Wealth here is held in different forms: a small business on the Black Horse Pike, a rental property near the beach, farmland in the western towns, or a family house on a barrier island. Wealth management coordinates these assets with taxes, insurance and an estate plan.

A couple in Linwood who own a duplex might want to know how rental income affects their taxes and what happens when they sell. A family farm in Hammonton raises questions about passing land to the next generation without forcing a sale. The estate planning guide explains wills, trusts and powers of attorney.

Investment advisors in Atlantic County

Investment advisors manage portfolios for a fee. For households with irregular income, an advisor can help you decide how much belongs in cash for the lean months and how much can be invested for years. Ask whether the firm is registered, how it is paid, and what all costs add up to in a year.

A retired dealer with a lump sum from a pension, or a restaurant owner who sold a business, will want a steady, low-cost mix and a written policy about when to rebalance. Our investing page outlines the principles.

Financial planners in Atlantic County

A financial planner builds a full plan: budgeting, debt, insurance, taxes, education and retirement. For seasonal workers, a plan might include an annual budget instead of a monthly one, with a sinking fund for slow months. Others come for help with a divorce, a layoff, a house raised to meet flood rules, or a child heading to Stockton University.

Some planners charge a flat fee, some charge by the hour and some take a percentage. The CFP credential can be verified with the certifying board. Pick someone who will explain choices in plain language and give you written next steps.

Financial advisors in Atlantic County: what the title does and does not tell you

The title financial advisor is used by people with very different jobs, including insurance agents, brokers and planners. What matters is how the person is paid and the legal duty they owe you. Ask for it in writing. Fee-only arrangements spare you from sales pressure, while commissions pay for a product. Mixed models exist. A good test is to ask what the advisor earns if you buy nothing.

How to choose a financial advisor in Atlantic County

1. Search the public regulator databases for the person and the firm.
2. Get the full yearly price in dollars before any paperwork is signed.
3. Describe a slow February and listen to how they would handle it.
4. Find out whether they have worked with New Jersey inheritance and property tax questions.
5. Look at a redacted example of what you would receive.
6. Talk to a few firms so you can compare tone and price. See the financial advisors guide for more.

Casino pay, tips and union benefits

The casinos in Atlantic City are the most familiar employers, along with the hotels, restaurants and entertainment businesses around them. Workers include dealers, servers, bartenders, housekeepers, cooks and front-desk staff. Many belong to unions that provide health coverage and pensions, and eligibility can depend on hours worked in a period.

Tip income is taxable, and reporting it correctly also builds your Social Security record and helps with loan applications. Keep a daily log. Withholding on tipped wages is often too low, so some workers owe in April; making estimated payments or adjusting withholding can avoid the surprise. A savings rule for slow months, such as automatic transfers each pay period in summer, protects against winter gaps. Other large employers include healthcare, education, the federal aviation technical center near Atlantic City International Airport, and Stockton University in Galloway Township.

Property taxes, inheritance tax and New Jersey rules

New Jersey homeowners pay some of the highest property taxes in the country, set by municipalities, school districts and the county. Compare tax bills when you shop for a house and ask about senior and veteran deductions or programs for eligible homeowners.

The state repealed its estate tax, so most estates owe none at the state level. It still has an inheritance tax. Spouses, children and grandchildren are generally exempt, but other heirs such as siblings, nieces and friends may pay at rates that depend on the relationship. Naming beneficiaries on retirement accounts and insurance can affect which assets are reached. Confirm current rules with the state or a tax professional before relying on any of this.

Shore homes, flood insurance and rebuilding rules

If you own on a barrier island or near the bay, ask whether your home is in a mapped flood zone, what the elevation is and what a flood policy costs. Standard homeowners insurance excludes flood, and wind coverage may have separate deductibles for named storms. After heavy damage, local rules may require raising a house, which adds cost. Second-home owners from Philadelphia or New York face an extra question: does the property earn rental income, and how is that taxed?

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Four points in a working life on the Jersey shore

Early career. A first job in a hotel kitchen or on a casino floor teaches you quickly how hours can vanish in January. Park a few months of rent in a savings account before you buy a car. Our budgeting and saving page has steps.

Raising a family. With a child in an Egg Harbor Township school and a mortgage payment due every month, income protection comes ahead of investing. A will naming a guardian costs little.

Mid-career. Request a statement of what your union or employer plan has earned so far, and talk with siblings early about how a parent’s care will be handled.

Near retirement. Put the pension quote next to your expected Social Security check and see how many years of bills the two cover together. Mark the Medicare sign-up window on a calendar.

Retired. Decide which account to tap first each year, and hold a reserve for the tax bill and the insurance deductible that arrives after an August storm.

Areas we serve in Atlantic County

Advisors who serve the area, by phone or video, work with households across the county, from Atlantic City to Hammonton, Egg Harbor Township and Galloway Township. That includes shore communities such as Ventnor, Margate, Longport and Brigantine, and inland towns such as Absecon, Northfield, Linwood, Somers Point and Pleasantville. Video visits help when your shift schedule changes from week to week.

Frequently asked questions