Retirement Planning in Westlake Village: 7 Key Factors

Retirement planning is never one-size-fits-all—and if you live in Westlake Village, California, there are unique factors that can shape your financial future. As a fee-only fiduciary firm headquartered right here in Westlake Village, Fischer Investment Strategies understands the local community and the challenges and opportunities that come with retiring in Southern California. Our team meets with clients in person at our local office, offering the kind of personal touch that national firms simply can’t match.

1. Cost of Living and Lifestyle Expectations

Westlake Village is known for its desirable location, excellent schools, and proximity to both Los Angeles and the coast. That also means the cost of living is higher than the national average. When mapping out retirement, consider:

• Housing costs if you plan to downsize, relocate, or maintain your current home.
• Health care and long-term care expenses in Southern California.
• Lifestyle goals, such as travel, dining, and hobbies you want to maintain.

With a local office right here in Westlake Village, we help clients weigh lifestyle goals against realistic cost projections—grounded in knowledge of the local market.

2. California State Taxes

California’s state income tax is among the highest in the country. For retirees, that can have a meaningful impact on distributions from IRAs, 401(k)s, pensions, and other taxable accounts. Strategies such as Roth conversions or tax-efficient withdrawals may help—though the right choice depends on your personal situation.

Our California office regularly works with families in Westlake Village who want to better understand how state tax rules affect their long-term retirement plans.

3. Retirement Income Sources

Retirement income typically comes from a mix of accounts and benefits. In Westlake Village, many retirees rely on:

• Employer-sponsored plans (401(k), 403(b), or pensions).
• IRAs and Roth IRAs.
• Social Security benefits (timing your claim matters).
• Personal savings or brokerage accounts.

As your local fiduciary advisor, we can help you integrate these income streams into a plan that supports your Westlake Village lifestyle.

4. Real Estate and Home Equity

Westlake Village homes have appreciated significantly over time, which means many retirees hold a large portion of their wealth in real estate. Some options to consider include:

• Downsizing to free up equity.
• Keeping the family home as a legacy asset.
• Exploring rental income opportunities.
• Reviewing property tax implications under California’s Proposition 13 rules.

Because our office is rooted in Westlake Village, we understand the local housing market and can help you think through the role of real estate in your retirement strategy.

5. Health Care and Medicare Planning

Health care costs often rise in retirement, and Westlake Village residents may also factor in access to top-tier medical facilities in nearby Los Angeles. Important considerations include:

• Medicare enrollment deadlines and penalties for late sign-up.
• Supplemental insurance (Medigap) or Medicare Advantage.
• Long-term care planning, whether through insurance or personal savings.

Our local perspective gives us insight into both the costs and resources available for retirees in the area.

6. Estate Planning and Legacy Goals

California’s laws and probate process can complicate estate transfers if planning is incomplete. A comprehensive estate plan may include:

• A revocable living trust to avoid probate.
• Updated wills and powers of attorney.
• Health care directives.
• Gifting or charitable giving strategies if part of your legacy goals.

By meeting with us in person at our Westlake Village headquarters, you’ll have the chance to walk through your estate planning goals with a team that understands both California law and your family’s needs.

7. Working With a Local Fiduciary Advisor

Retirement planning involves complex moving parts, from taxes to investments to estate issues. Partnering with a local, fee-only fiduciary advisor ensures you have someone who not only puts your best interests first, but also knows the community you live in.

At Fischer Investment Strategies, we’re proud to serve as a trusted financial planning resource for families in Westlake Village and across California. Whether you want to meet in person at our local office or connect virtually, our advice is transparent, fiduciary, and centered on helping you retire with clarity and confidence.