Find a Financial Advisor in St. Croix County

Two states, one paycheck: a household in St. Croix County

This is an invented example. Marguerite is 46 and lives in a Hudson neighborhood a few minutes from the river. She works at an employer on the Minnesota side, so her wages are earned in one state and spent in another. Her husband Dale, 49, farms a rented parcel of ground in the northern part of the county on weekends and works a regular job during the week. They have a daughter in high school and a son in college.

Their questions tend to come in clusters. Which state gets the tax on her paycheck, and how does that show up on the Wisconsin return? What happens to the farm side if Dale cannot work for a season? Are they saving enough for a college bill while also funding retirement accounts? None of this is unusual in St. Croix County, but it does call for someone who has seen two-state situations before.

The sections below follow the sort of order Marguerite and Dale would ask in: planning first, then investing, then cost, then bigger-picture wealth, retirement and insurance. If you want a primer on the roles, the financial advisors guide is a good start.

St. Croix County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, St. Croix County had about 96,033 residents counted, and our 2025 estimate is 98,276.

The numbers describe a county that is more educated and higher earning than much of rural Wisconsin, with a low unemployment rate and a large share of homeowners. That lines up with its position as a growing edge of the Twin Cities area.

Financial planners in St. Croix County

A financial planner works across the whole household. For a couple like Marguerite and Dale, a first plan would set out monthly cash flow, a college funding schedule, the retirement savings rate and the protection they need if income stops. Planners can also sort out which spouse should hold which accounts, and whether the farm parcel belongs in the plan as an asset or as a side business with its own books.

Some planners charge a flat fee for a one-time plan. Others work by the hour on a single question, and others keep clients on a yearly retainer. In a county with so many dual-income households, a planner who can model two incomes under different scenarios, such as one spouse changing jobs or going part time, is more useful than one who runs a single projection.

Start with the budgeting and saving guide if you want to gather your numbers before a meeting.

Investment advisors in St. Croix County

Investment advisors manage or guide the money inside your accounts. Many St. Croix County professionals hold a workplace retirement plan plus an IRA, and some also have a brokerage account built from stock awards or a past sale of property. An advisor will look at how your holdings are split, how fees inside funds add up, and whether you are taking more or less risk than you intended.

If you own farmland or rental property, an investment advisor can show how much of your wealth sits in a single asset, then suggest ways to widen it without forcing a sale. Ask whether the advisor is a registered investment adviser and how they are paid. A flat annual fee and a percentage of assets can both be reasonable, but they work differently.

The investing guide explains index funds, diversification and fees in plain terms.

Financial advisors in St. Croix County: understanding the cost

Pricing is where many people hesitate, so start there. You will usually find one of these:

• A one-time project price for a written plan.
• Hourly consulting for a single decision.
• An annual percentage of the assets under management.
• Commissions on insurance or annuity products.

None of them is automatically better. A younger family with a busy schedule may prefer paying a plan fee and doing the work themselves. A retiring couple might like having someone manage withdrawals every month. Ask for the total dollar cost in the first year, what services are included, and how to end the arrangement if it is not working.

Be cautious with anyone who is vague about pay or who pushes a product before they understand your goals.

Wealth management in St. Croix County

Wealth management brings investing, tax planning, estate documents and insurance under one roof for households with more to coordinate. In this county, the people who benefit most are often business owners, farm families holding land with a large paper value, executives with stock pay at Twin Cities employers, and households that have received an inheritance.

A typical engagement might include a review of how a sale of land would be taxed, a plan for passing the business to a child, and a check that wills and beneficiary forms agree. The estate planning guide covers the documents that make that possible.

Wealth managers often set minimum account sizes. If you are below the threshold, an independent planner can handle many of the same questions for a flat fee.

Retirement planning in St. Croix County

About 16.0% of St. Croix County residents are 65 or older, and many others are in their fifties looking ahead. Retirement planning here includes the usual questions of Social Security timing and withdrawal order, plus a few local twists. Wisconsin does not tax Social Security benefits at the state level, and it has provided some relief on other retirement income for older residents. Rules change, so confirm current details with the Wisconsin Department of Revenue or a tax professional.

Residents who worked in Minnesota for part of their career may also have a pension or deferred account tied to that employer, which can complicate the picture. Someone retiring and then moving across the river, or the other direction, needs a clear view of how each state taxes retirement income.

It also helps to plan the winters. Many couples ask whether to stay in a house with a long driveway and a yard that needs shoveling, or move to something easier to maintain. The retirement planning guide walks through income planning step by step.

Life insurance in St. Croix County

Homeowners with kids and a mortgage are the core group for life insurance in this county. Term coverage that lasts until the mortgage is gone and the children are on their own is the simplest fit. Permanent policies have narrower roles, such as paying estate taxes or settling a business partner’s share.

Farm and small business families often need extra thought. If a farmer dies, who runs the operation, and can the surviving spouse keep paying the land rent and loans? Life insurance can supply cash to bridge that gap. Disability coverage matters as much, because farm and trades work carries a real chance of injury.

Get quotes from several carriers, compare the details of any riders, and ask whether the policy can be converted. The life insurance guide explains the main policy types.

Crossing the St. Croix River: Minnesota income and Wisconsin taxes

The river is the state line, and that creates a planning issue few other Wisconsin counties face to the same degree. Wisconsin and Minnesota used to have a reciprocity agreement that let commuters pay tax only to their home state. That arrangement ended years ago, so a Wisconsin resident with wages earned in Minnesota generally has to deal with both states, usually filing in the state of work and then claiming a credit at home. Confirm current rules with a tax professional, since the details depend on the type of income and your situation.

The practical effects are small but real. Withholding on a paycheck may not match what you owe, and a household can end up owing more at filing time than expected. Estimated payments for self-employed income can be tricky too. A planner who works with cross-border households can set up the right withholding and a tax calendar so April holds no surprises.

Housing, property tax and cost of living

With a median home value of $377,700 and a median monthly owner cost of $1,998 with a mortgage, housing is the biggest line in most budgets. Median rent of $1,271 is lower than many metro areas, so some households rent for a few years while saving. Property tax in Wisconsin is set locally and can be a large piece of the annual cost, particularly on newer homes.

Things worth checking each year:

• Whether the assessed value of your home still looks right.
• Whether your mortgage rate or term still fits your plan.
• Whether the homeowners policy reflects today’s rebuild cost.
• Whether an emergency fund covers a few months of mortgage, tax and insurance together.

Because 78.3% of homes are owner-occupied, the house is a major retirement asset as well. Plan early for what you will do with it.

Farms, small towns and the next generation

Beyond the Hudson corridor, St. Croix County has farm country and small communities such as New Richmond, Baldwin and Somerset. Dairy and crop operations have long been part of the economy, and many families hold land that has risen in value. Land can make a family look wealthy on paper while cash flow stays tight.

Succession is the central planning issue: who takes over, how siblings who are not farming are treated fairly, and how to avoid a forced sale to settle an estate. A farm attorney, an accountant and an advisor should work together. Wisconsin offers some programs tied to farmland, so ask a tax professional what applies to you. The aim is to keep the operation intact while still funding retirement for the older generation.

Winter, river flooding and insurance gaps

St. Croix County has long, cold winters with heavy snow, ice and periodic spells of extreme cold. Spring brings snowmelt that can raise river levels, and low-lying property near the St. Croix and its tributaries may carry flood risk. Standard homeowners policies usually exclude flood, so check the flood maps and talk to an insurance professional if your property is near water.

Other checks: roof load from heavy snow, frozen pipe coverage, backup of sewer or sump systems (often an add-on), and a liability umbrella if you host guests on a farm or lakefront. A yearly insurance review costs little and can prevent an expensive surprise.

Paying for college and training from St. Croix County

With nearly four in ten adults holding a bachelor degree or higher, education is clearly valued here, and it is also a major expense. Families in River Falls may be able to keep a student at home for the first years, while others in Hudson look at schools on either side of the river. Each path carries a different price, and the sticker price is rarely what a family pays after aid.

A planner can compare saving in a 529 plan, using a custodial account, or paying from cash flow, and can show how each choice affects financial aid forms. Wisconsin offers a state income tax benefit tied to contributions to its own plan, though the details change, so confirm current rules with the state revenue department. The college savings guide explains how the accounts differ.

Do not forget trades and technical training. For a teenager who wants to work with their hands, an apprenticeship or a two-year program can cost far less and lead to steady pay. The family budget should leave room for either path, and for the chance that a child takes longer than planned.

Areas we serve in St. Croix County

Advisors who serve this area work by phone or video and can support households across the county. That includes Hudson on the river, New Richmond, River Falls, which is home to the University of Wisconsin-River Falls, and the smaller communities and farms in between, as well as people who live here and work across the border in Minnesota.

How to choose a financial advisor in St. Croix County

1. Check the advisor on public regulator websites for licenses and any disciplinary history.
2. Ask how they are paid and request a first-year cost in dollars.
3. Confirm they have experience with two-state tax situations if you commute to Minnesota.
4. Ask whether they work with farm or small business owners if that fits you.
5. Find out who will serve you day to day and how quickly they reply.
6. Look at a sample plan to judge how clear and practical it is.
7. Ask how they handle a market drop and how often they will review your plan.
8. Meet two or three before you decide, and trust the one who explains things plainly.

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