Find a Financial Advisor in Montgomery County

Montgomery County at a glance: a military town that keeps growing

Clarksville sits on the Cumberland River, about an hour northwest of Nashville, and the county’s identity is tied to the large Army installation on the Kentucky line. Soldiers, civilian employees, defense contractors and their families make up a big part of the community, and the businesses that serve them follow: healthcare, retail, home building, restaurants and schools. Austin Peay State University adds students, faculty and staff to the mix, and logistics and manufacturing employers have settled along the highways. Plenty of people also drive to Nashville for work.

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, Montgomery County has 249,935 residents and a median age of 31.9, one of the lowest among large counties in the state. The median household income is $75,613, the median home value is $280,200 and median gross rent is $1,308. About 61.9% of homes are owner-occupied, 31.1% of adults hold a bachelor’s degree or higher, and 10.0% of residents are 65 or older. Unemployment is 5.1%. Rent and mortgage costs have climbed, so families who started saving early tend to feel the benefit.

Wealth management in Montgomery County

Wealth building in this county often starts small and grows fast. A sergeant who has been saving in the Thrift Savings Plan, a spouse who runs a home-based business, and a nurse with overtime can all end up with six-figure balances within a decade. At that point, it helps to have someone look across the whole picture, including real estate, retirement accounts and taxable investments.

A wealth manager can also help with the milestone events that change the numbers: a retirement from service with a pension, the sale of a rental home, a business that outgrows the founder, or an inheritance. Tennessee has no tax on wages and no inheritance tax, which simplifies some of this, but federal tax and estate rules still apply. Ask the advisor how each recommendation will affect your tax bill this year and later.

If you plan to hold rental property near the base, think about how a vacancy, a repair and a move would hit your cash flow. Our estate planning guide shows why even young owners need a will and a named guardian.

Investment advisors in Montgomery County

Investment advisors manage portfolios or tell you what to buy. Because many people here are early in their careers, a long time horizon is the main asset. A 28-year-old specialist with a TSP account and a Roth IRA can hold mostly stock funds and let them grow, while someone retiring from service in the next few years usually wants a steadier mix.

Watch for the sales pitches aimed at service members. High-fee products, complicated insurance policies and funds with sales charges can look attractive on a short presentation and cost a lot over twenty years. Ask the advisor to show the total annual cost in dollars, and check that the person is registered. A fee-only advisor who is not paid on products you buy may be easier to compare.

Understand the basics first with our investing guide.

Retirement planning in Montgomery County

Retirement planning in a military county has two tracks. The first is retirement from service, which can come in the forties, with a pension, health coverage and a second career. The second is the traditional retirement from civilian work later on. A plan should say how the pension, Social Security, savings and any VA disability pay fit together over time.

Someone retiring from the Army at 42 with a pension can start a second job, a business or school, and still save for the later years. Tennessee does not tax wages, and the state does not tax Social Security benefits, so the main tax questions are federal. Choose carefully between the available retirement plan options at separation, and consider survivor benefits for a spouse, since that choice can be hard to reverse.

Civilian residents have their own questions: employer plans, an IRA, when to claim Social Security. Our retirement planning guide explains the order of withdrawals and how benefits work.

Life insurance in Montgomery County

Young families are the core of the market here. A couple with two children under five, a mortgage and one income from service needs enough coverage to pay off the house and replace years of pay. Group coverage through the military is useful, but it ends when service ends, and the replacement cost can rise with age or health changes. Many service members keep or convert coverage, and a civilian term policy can be a lower-cost supplement. Compare options before you separate, not after.

Spouses who stay home or work part-time also need coverage, since replacing child care and household work is costly. Single parents should confirm that the beneficiary and the guardian named in a will match. Review the paperwork after every move, deployment or birth. Our life insurance guide walks through term and permanent policies.

Is your family protected through every move?

Review your coverage with an advisor who serves Montgomery County by phone or video.

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Financial planners in Montgomery County

Planners are the right call when money questions overlap. A household in Clarksville might be asking: should we buy now or wait for the next assignment? How much should go to a child’s education? Is the spouse’s career portable? What is the plan if one of us is hurt? A planner can answer by building a cash flow forecast and testing the answers over several years.

For many households, a flat-fee planner is a good fit. You pay for a plan, take action and check in once or twice a year. Look for the CFP designation and ask whether the person works as a fiduciary and is paid only by clients. Start with the basics in our budgeting and saving guide.

What a financial advisor costs in Montgomery County

Three methods dominate. Asset-based fees take a yearly percentage of what you invest. Flat and hourly fees pay for a plan or for time. Commission-based advisors earn when you buy a product. The right method depends on what you need and how much you have. A household with a modest balance often does better with a one-time plan, while a family with a larger portfolio may value ongoing management. Always ask: what is my total cost each year, in dollars?

How to choose a financial advisor in Montgomery County

Interview two or three people. Ask how many clients they have like you, whether they understand military pay and benefits, and how they communicate. Advisors who serve the Clarksville area by phone or video can keep working with you after a move, which matters in a county where many families relocate every few years. Confirm registration, read the disclosure form and ask for a written fee schedule. Choose the person who listens to your goals before suggesting products.

Moving in, moving out: assignments, separations and new homes

Many families come to Montgomery County for an assignment, then stay. Others leave after a few years. The housing decision drives everything. Buying with a VA loan can make sense for a long stay, while renting may be better for a short one. Compare the monthly cost, the repairs and the likelihood of selling at a gain or loss. Median gross rent of $1,308 and median owner costs with a mortgage of $1,616 show how close the two can be.

When you leave service, the first year is a financial test. You may have a gap in pay, new health coverage and a state tax change. Build an emergency fund of several months before the last day, and review beneficiary designations. If you are leaving Tennessee, keep proof of your move date.

Tennessee taxes and paperwork for Montgomery County families

Tennessee does not tax wages, and the old tax on interest and dividends was repealed. The state also has no inheritance tax. Sales tax is high, and property tax is moderate. Federal tax, however, applies as usual, and military families may have special rules for residency, state taxes after a move and combat pay. Spouses of service members should check how residency rules apply when they work in Tennessee but call another state home. Confirm current rules with the Tennessee Department of Revenue or a tax professional.

Tornadoes, flooding and storm season in Montgomery County

Middle Tennessee sees severe weather, including tornadoes, hail and flash flooding along creeks and rivers. A damaging storm can leave a family with a repair bill and a deductible at once. Check whether your deductible for wind and hail is a flat amount or a percentage, and ask your agent about flood coverage, which is separate from a homeowners policy. Photograph your belongings, store documents in a waterproof place or in the cloud and keep an emergency fund.

College and careers for young people in Montgomery County

With a median age of 31.9, many households here are raising children or are close to it. Costs for college and trade school are on the horizon. A 529 savings plan is one tool, and Tennessee also has state aid programs for students, so check the rules before assuming what you will need to pay. Austin Peay State University offers a local option for students who want to live at home. Military families may have education benefits that can be used by a service member or, in some cases, passed to a spouse or child, and the rules are detailed. Read our college savings guide and compare options with an advisor before choosing.

For young adults starting careers, the first steps are plain: build a starter emergency fund, capture any employer match and avoid high-interest debt. Starting early gives compounding the most time to work.

Spouse careers and a second income in Montgomery County

In a household that moves every few years, the spouse who is not in uniform often gives up seniority, retirement contributions and steady raises. That cost is real and rarely shows up in a budget. A good plan puts a number on it: how much income was lost, how much savings that kept from growing and what the household will do to catch up. Some spouses take remote work that travels with them, start a small business or pick a licensed profession that transfers between states. Each path has tax and insurance consequences.

Self-employed spouses should set up their own retirement account and keep business and household money separate from the start. A bookkeeper for an hour a month costs far less than a surprise tax bill. Also keep an eye on health coverage, since the family plan from the service usually covers everyone, but a gap can open when the service member separates. Write down the date coverage ends and the date the next plan starts.

Finally, think about legal paperwork. Powers of attorney, wills and guardian designations should be signed and current before a deployment, and a spouse should know where each account is held and how to reach it. An advisor can build a one-page list of accounts, policies and contacts that fits in a folder.

Areas we serve in Montgomery County

Advisors who serve the area, by phone or video, work with households throughout the county. Clarksville is the main city, with downtown, the riverfront and large subdivisions in all directions. Sango and Southside lie close to the city, and Woodlawn, Cunningham and Palmyra offer a quieter setting with more space. Many families in these areas commute to the installation, to Nashville or to jobs in Clarksville itself.

Frequently asked questions