Financial Advisors in Washington

• Financial Planning: A comprehensive plan sets the stage for long-term financial success. Our advisors help you map out a strategy that evolves with your life, from building an emergency fund to managing your estate.
• Investing: With so many investment options available, it’s easy to feel overwhelmed. We simplify the process by helping you develop a personalized investment plan aligned with your risk tolerance, timeline, and goals.
• Insuring: Insurance is a critical tool in protecting your assets and family. Our financial advisors in Washington guide you through selecting life, health, disability, and long-term care insurance that suits your situation.
• Retirement / Pre-Retirement: Whether you’re decades from retirement or just a few years away, it’s important to have a solid plan. We help you optimize Social Security, evaluate pension options, and ensure your savings will last through retirement.

• Early Career: Starting out can be tough, especially with student loans and rising living costs. We help young professionals in Washington budget wisely, build savings, and make informed decisions about benefits and debt repayment.
• Mid-Career: As your income grows, so do your financial responsibilities. Whether you’re buying a home in Bellevue or saving for your child’s education, our advisors can help you manage multiple priorities while staying on track for retirement.
• Pre-Retirement: The years before retirement are crucial for financial planning. We help Washington residents optimize their investments, prepare for healthcare expenses, and develop estate plans to protect their legacy.
• Retirement: In retirement, the focus shifts to preserving wealth and managing income. We assist with fixed income strategies, Medicare navigation, and planning for long-term care so you can enjoy peace of mind during your golden years.

Income

• Washington’s average annual wage is approximately $78,130, well above the national average of $65,470. High-paying sectors like technology, aerospace, and healthcare contribute to this strong wage average, particularly in urban areas like Seattle and Redmond.

Housing

• The median home price in Washington is about $663,100, significantly higher than the national median of $433,229. Western Washington, especially the Seattle metro, drives much of this increase. Meanwhile, areas like Spokane and Yakima offer more affordable housing, attracting residents looking for lower costs without leaving the state.

Taxes

• Sales Tax: Washington’s average combined state and local sales tax is approximately 7.07%, well above the national average of 6.44%. This makes everyday purchases slightly more expensive, especially for larger families or high-consumption households.
• Income Tax: Washington is one of only nine states with no personal income tax, making it attractive for high earners and retirees alike. This policy simplifies tax planning and offers a significant savings advantage over states with progressive income tax systems.
• Property Tax: The average effective property tax rate in Washington is 0.87%, which is below the national average of 1.04%. However, high property values in certain areas can still lead to substantial annual tax bills.
• Unique Taxes in Washington: Washington has no income tax, but it does impose a capital gains tax of 7% on long-term capital gains above $270,000. Additionally, there is no estate tax exemption below $2.193 million, meaning higher net worth individuals may be subject to estate taxes. The state also taxes groceries at a reduced rate in some municipalities and imposes high gasoline taxes, which can affect budgeting for transportation-heavy households.

Whether you’re working in Seattle’s tech hub or enjoying retirement in Walla Walla wine country, MyStages® connects you with experienced Washington financial advisors who can guide you through every chapter of your financial life.