Retirement Planning in Westerly, RI

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List of Firms

Top Retirement Planners in Westerly, RI

Philip Overton - Prudential Financial
4 out of 5
Location 53 High St Suite 31, Westerly, RI 02891, USA
Phone (401) 596-8297
Language http://www.prudential.com/us/p.overton
Directions
Professional Planning Group
SEC File# 801-15330
CRD# 108868
Location 9 Granite St, Westerly, RI 02891, USA
Phone (401) 596-2800
Language http://ppgadvisors.com/
Directions
First Financial Advisory Services, Inc.
Location 85 Beach St, Westerly, RI 02891, USA
Phone (401) 596-0193
Language http://www.firstfinancialadvisory.com/
Directions
Retirement Planning in Westerly, RI

About Westerly, RI for Those Planning to Retire

Westerly, RI is a charming coastal town located in Washington County, boasting a plethora of landmarks and attractions that are sure to captivate visitors and locals alike. From the historic Watch Hill lighthouse to the stunning Misquamicut State Beach, there is no shortage of natural beauty in this picturesque town. In terms of top employers, Westerly is home to a diverse range of businesses, including the renowned Westerly Hospital, the award-winning Ocean House resort, and the popular grocery store chain, Stop & Shop. Additionally, the town is known for its thriving arts community, with prominent organizations such as the Granite Theatre and the Artists' Cooperative Gallery of Westerly. When it comes to major highways and streets, Westerly is conveniently located near several major thoroughfares, including Interstate 95, Route 1, and Route 78. These highways provide easy access to nearby cities such as Providence, Boston, and New York City.

Other Financial Planning Services for Retirement

Banks and Credit Unions

Residents of Westerly, RI can benefit from a bank in a multitude of ways. One of the most common ways is through mortgage loans. With the town's prime location near the beach and its charming New England architecture, many individuals seek to purchase homes in Westerly, RI. However, the high cost of living in the area can make it difficult for some to afford a home. A bank can provide mortgage loans with competitive interest rates and flexible payment plans, making it easier for residents to achieve their dream of homeownership. In addition, banks in Westerly, RI offer various savings and checking accounts, which can help residents manage their finances effectively. With the town's growing tourism industry, banks can also assist local businesses by providing loans for expansion and capital investments. Overall, a bank in Westerly, RI can provide valuable financial resources and support for residents and businesses alike.

Insurance Broker

Residents of Westerly, RI can benefit from the services of an insurance broker in a variety of ways. For instance, an insurance broker can help Westerly residents navigate the complexities of the healthcare system and find the best health insurance plan that fits their needs and budget. With the high cost of living in Westerly, RI, an insurance broker can also help residents find affordable home and auto insurance policies that provide adequate coverage. Additionally, an insurance broker can assist Westerly residents in understanding the intricacies of life insurance policies and how they can protect their loved ones in the event of an unexpected death. The unique coastal location of Westerly, RI also means that residents may need specialized insurance coverage for natural disasters such as hurricanes and flooding, which an insurance broker can help them obtain. Overall, an insurance broker can provide invaluable guidance and support to Westerly residents as they navigate the complex world of insurance.

Wealth Management

Residents of Westerly, RI could benefit from the expertise of a wealth manager in several ways. For instance, a wealth manager could help residents with retirement planning, investment management, tax planning, and estate planning. In Westerly, RI, where the median household income is $61,000, a wealth manager could assist residents in building a sustainable financial plan that aligns with their long-term financial goals. Additionally, with the town's proximity to the coast, a wealth manager could help residents navigate the complexities of coastal property ownership, including flood insurance and property tax implications. Furthermore, with the town's rich history and culture, a wealth manager could help residents with philanthropic planning, such as setting up charitable trusts or foundations to give back to the community. Overall, a wealth manager can provide tailored financial planning advice and support to residents of Westerly, RI, helping them achieve financial peace of mind and security.

Financial Advisor

Residents of Westerly, RI could benefit from the services of a financial advisor in several ways. For instance, a financial advisor can help Westerly residents establish a realistic budget that takes into account the high cost of living in the area. Additionally, a financial advisor can provide guidance on how to invest in the local economy, which is heavily dependent on the tourism industry. Moreover, a financial advisor can help Westerly residents plan for their retirement, which is particularly important given the aging population of the town. With the help of a financial advisor, Westerly residents can make informed decisions about their finances and secure their financial future in a town that is both beautiful and expensive.

Mortgage Loan Officer

Residents of Westerly, RI can benefit from the expertise of a mortgage loan officer in numerous ways. One of the most common ways is by helping them navigate the complex and ever-changing real estate market in the area. Westerly, RI is a coastal town that boasts a rich history and a vibrant community, making it an attractive place to live. However, this also means that the real estate market can be highly competitive and challenging to navigate. A mortgage loan officer can help residents understand the various loan options available to them, including government-backed programs such as FHA and VA loans. They can also assist with the pre-approval process, which is essential when making an offer on a home in Westerly, RI. Additionally, a mortgage loan officer can provide guidance on the local housing market and help residents make informed decisions about buying or refinancing their homes.

Tax Services

Residents of Westerly, RI can benefit from the expertise of a tax advisor in a multitude of ways. With a population of just over 22,000, Westerly is a small town that is home to many small businesses and entrepreneurs. A tax advisor can assist these individuals with navigating the complex tax laws and regulations that can be overwhelming and time-consuming to understand. Additionally, many residents in Westerly are retired or nearing retirement age, and a tax advisor can provide valuable guidance on tax planning strategies that can help maximize retirement savings and minimize tax liabilities. Furthermore, with Westerly's proximity to the Connecticut border, residents who work across state lines may face unique tax challenges that a tax advisor can help them navigate. Overall, a tax advisor can provide invaluable assistance to the residents of Westerly, RI in navigating the complex world of taxes and maximizing their financial well-being.

Estate Planning Lawyer

Residents of Westerly, RI can benefit from the services of an estate planning lawyer in a multitude of ways. One specific example is the lawyer's ability to help families navigate the complexities of Rhode Island's inheritance tax laws. With a tax rate ranging from 0.8% to 16%, depending on the value of the estate and the relationship between the deceased and the beneficiary, it is crucial to have a knowledgeable professional on your side. Additionally, an estate planning lawyer can assist with the creation of wills, trusts, and other legal documents to ensure that assets are distributed according to the client's wishes. They can also provide guidance on how to minimize estate taxes and avoid probate court. Overall, the expertise of an estate planning lawyer can provide peace of mind for Westerly residents and their families.

FREQUENTLY ASKED QUESTIONS

Retirement Income Planning FAQs

Retirement planning services offered by a retirement planner in Westerly, RI can be comprehensive and tailored to the unique needs and goals of each individual. With its picturesque beaches, historic downtown area, and vibrant arts scene, Westerly, RI offers retirees a charming and lively community to call home. A retirement planner in Westerly can help clients navigate the complexities of retirement income planning, including Social Security benefits, pensions, and investment strategies. They can also provide guidance on healthcare options and long-term care planning, as well as estate planning and tax-efficient strategies for passing on wealth to loved ones. With their expertise and knowledge of the local market, a retirement planner in Westerly can help retirees make informed decisions about their financial future and enjoy all that this vibrant coastal town has to offer.

Located in the southwestern corner of Rhode Island, Westerly is a charming coastal town that offers retirees a plethora of options when it comes to financial planning. With its picturesque streets lined with quaint shops and restaurants, Westerly exudes a sense of tranquility that is perfect for those looking to retire in peace. What sets Westerly apart from other towns in the state is its proximity to the ocean, which provides residents with a variety of activities to enjoy, such as boating, fishing, and beachcombing. Additionally, Westerly boasts a strong community of financial planners who specialize in retirement planning, ensuring that retirees have access to the expertise they need to make informed decisions about their future. Whether you're looking for help with estate planning, investment management, or tax planning, you're sure to find a retirement planner in Westerly who can help you achieve your goals.