Navigating your financial journey requires expert guidance to ensure long-term success. Whether you’re embarking on your career, planning for retirement, or managing investments, a skilled financial advisor can provide the necessary support. In Minnesota, with its diverse economic landscape and unique tax structures, obtaining professional financial advice is particularly beneficial.
Our network of Minnesota financial advisors is dedicated to assisting you in achieving your financial goals. From establishing an emergency fund to strategizing for retirement, we connect you with professionals who understand the nuances of the state’s financial environment.
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Our Network in Minnesota
No matter where you reside in Minnesota, our extensive network of financial advisors is ready to serve you. Whether you’re in Minneapolis, St. Paul, Rochester, Duluth, or Bloomington, our advisors offer personalized financial solutions tailored to your objectives.
Minnesota’s economic landscape varies across regions, with urban centers like Minneapolis and St. Paul presenting different financial challenges compared to rural areas. Our financial advisors in Minnesota are equipped to provide expert guidance, ensuring you receive the support you need, regardless of your location.
How Can We Help?
Our Minnesota financial advisors offer services tailored to the diverse needs of residents across the state. Whether you’re in the vibrant Twin Cities, lakeside in Duluth, or living in a smaller rural community, our experts provide strategies built around your specific goals and lifestyle.
- Financial Planning: Having a plan for every stage of life is essential, and our advisors help you build that roadmap. Whether you’re just starting your career or preparing for retirement, we’ll align your financial strategy with your personal aspirations and income level. Our financial planning in Minnesota ensures clarity and confidence as you move forward.
- Investing: Your investment strategy should evolve as you do. Whether you’re building a foundation in Rochester, expanding your portfolio in Bloomington, or nearing retirement in St. Cloud, our financial advisors design investing plans suited to your goals and stage of life.
- Insuring: Insurance is key to safeguarding your financial well-being. Our Minnesota financial experts help you assess your needs—whether it’s life, health, or long-term care—and choose coverage that protects you without unnecessary costs.
- Retirement / Pre-Retirement: Retirement doesn’t start at 65—it starts with a plan. Our advisors guide you through retirement preparation with strategies that address Social Security, estate planning, and retirement income management, so you can enjoy the life you envision.
Financial Expertise At Any Stage of Life
At MyStages®, we understand that financial goals shift over time—and so should your financial advice. Our Minnesota financial advisors specialize in helping individuals at all stages of life, providing guidance that fits where you are now and where you want to be in the future.
- Early Career: Starting out in cities like Minneapolis, St. Paul, or Mankato? You might be tackling student loan repayment, learning how to budget, or building your first emergency fund. Our advisors help you lay a strong foundation to support your future financial success.
- Mid-Career: With career advancement comes bigger decisions—buying a home in Rochester, funding a child’s education, or expanding insurance coverage. We help you navigate these milestones while securing long-term growth and protection.
- Pre-Retirement: This is the stage to refine your strategy. Whether you’re managing a retirement portfolio in Duluth or setting up an estate plan in Bloomington, our advisors ensure you’re fully prepared for the transition to retirement.
- Retirement: Already retired? Maintaining financial security means understanding fixed income, Medicare, and long-term care insurance. From the Twin Cities to Minnesota’s quiet countryside, we support retirees in creating a confident, sustainable lifestyle.
Minnesota Financial Facts
Making smart financial decisions starts with understanding the landscape around you. Minnesota’s economic environment offers a blend of strong income potential, moderate housing costs, and a mix of progressive taxes. Whether you’re saving for a home, preparing for retirement, or evaluating investment opportunities, knowing the state’s financial facts can help you plan more effectively.
Income
- The median income in Minnesota is approximately $66,700, which is above the national median of $65,470. The state’s diverse economy—anchored by industries like healthcare, manufacturing, and technology—offers strong earning potential, especially in metro areas like Minneapolis and St. Paul.
Housing
- The median home price in Minnesota is approximately $354,200, notably lower than the national median of $433,229. This makes homeownership more attainable, especially in suburban and rural parts of the state. However, home prices in the Twin Cities can trend higher due to demand and urban amenities.
Taxes
- Sales Tax: Minnesota has a state sales tax of 6.88%, with local governments allowed to add up to 1.16%, bringing the average combined sales tax to approximately 8.04%, higher than the national average of 6.44%.
- Income Tax: Minnesota operates a progressive income tax system with rates ranging from 5.35% to 9.85%, depending on income levels. This places Minnesota among the higher-income tax states, especially for top earners.
- Property Tax: The average effective property tax rate is around 1.11%, slightly above the national average of 1.04%. Rates can vary widely by county and are influenced by local levies and assessments.
- Unique Taxes in Minnesota: Minnesota imposes several unique taxes, including the Minnesota Care Tax, which is a 1.8% tax on healthcare providers’ gross revenues to support public healthcare programs. The state also has an estate tax, with rates between 13% and 16% for estates exceeding $3 million, affecting high-net-worth individuals planning their estates.
With MyStages®, you have a trusted partner to navigate Minnesota’s financial landscape. Our network of financial advisors in Minnesota is here to guide you through every stage of life, ensuring you make informed decisions for a secure financial future.
For more information, visit MyStages® and take control of your financial journey today.