Retirement planning always starts with a big question mark. And if you're living in Wilsonville or nearby, you’ve probably got a few of your own. As a financial planner who lives and works here, I hear a lot of the same questions from people just like you, folks who want to retire smart and stay local.

Here are five of the most common retirement questions we get from Wilsonville residents, and the real, unfiltered answers.

1. How much do I actually need to retire?

There’s no magic number, but there is a right process.

Most people hear the old "80% of your income" rule and call it a day. But if you make $250K now, are you really going to be fine on $200K in retirement? Maybe. Maybe not.

The better question is: What kind of life do you want to live when work is optional?

• Are you traveling more?

• Helping kids or grandkids financially?

• Downsizing from Villebois or upgrading to something quieter with acreage?

When we help people answer this question, we use real numbers, cash flow projections, and scenario planning to help you see if they’re on track, not just guess. If you’re looking to figure this out yourself, factor in current/future expenses, inflation, medical costs, long-term care, short-term goals, and long-term goals.

Skip the rules of thumb. Build a retirement lifestyle plan that’s based on your dream life.

2. When should I start taking Social Security?

It’s one of the biggest decisions retirees face, and it’s not as simple as “take it early” or “wait as long as possible.”

• Start at 62, and you’ll get smaller checks for longer.

• Wait until 70, and those checks are a lot bigger, but you need to bridge the gap in the meantime.

Consider looking at:

• Your other income sources

• Health and family longevity

• Whether you’re still working or winding down

• Potential tax planning opportunities

Timing your Social Security benefit is part of a bigger income strategy. Not a standalone move.

3. Should I pay off my mortgage before I retire?

This one depends on your mindset and your math.

Some people sleep better with no mortgage. Others would rather keep a low-interest loan and invest excess cash. In Wilsonville, where many homes are now pushing seven figures, the mortgage can be one of your biggest retirement levers.

A few factors:

• Cash flow trade-offs

• Tax implications & tax planning strategy

• How your mortgage fits into the bigger financial picture

The best answer is the one that aligns with your values, risk tolerance, and long-term plan.

4. What if I live longer than expected?

Great problem to have, but a real risk for your finances.

Life expectancy is rising, and Wilsonville residents tend to have access to quality healthcare and active lifestyles. That means you need a plan that accounts for:

• Income in your 90s

• Rising healthcare costs

• Longevity risk built into your withdrawal strategy

We run "what-if" scenarios to see how your plan holds up under different life spans and market conditions.

Don’t guess how long you’ll live. Plan for a long life, and be pleasantly surprised if you don’t need every dollar.

5. How do I factor in healthcare costs?

Healthcare is one of the biggest wildcards in retirement, and it’s not cheap in Oregon.

While Medicare kicks in at 65, it doesn’t cover everything. You still need to plan for:

• Supplemental insurance (like Medigap or Advantage plans)

• Out-of-pocket costs (co-pays, prescriptions, deductibles, and dental)

• Long-term care needs, whether or not you have insurance

Build a dedicated healthcare strategy into your retirement plan. Don’t let this become the budget buster no one saw coming.

Bonus: What’s great about retiring in Wilsonville?

You probably already know this, but Wilsonville has a lot going for it:

• A tight-knit community with great neighborhoods like Villebois, Charbonneau, and Morey’s Landing

• Access to high-quality healthcare nearby

• Gorgeous parks, walking trails, and access to wineries, golf, and rivers

• Community events, adult education, and local meetups through the Wilsonville Community Center

Just don’t forget to plan for the lifestyle you want to maintain. Wilsonville might not be the cheapest retirement destination, but it’s one that’s worth planning for.

Ready to take the guesswork out of your retirement? Whether you’re a few years away or already in retirement, we can help you test your strategy and fill in the blind spots.

Schedule a free consultation, and let’s make sure you’re set up to retire on your terms, right here in Wilsonville.

Disclaimer:

This content is for informational and educational purposes only and should not be construed as individualized financial, tax, or legal advice. The information provided reflects general planning concepts and may not be suitable for your specific situation. Always consult with a qualified financial advisor, tax professional, or attorney before making decisions based on this content. Harbor Horizon Financial is a Registered Investment Adviser in the state of Oregon. Registration does not imply a certain level of skill or training.