Retirement Planning in Lehi, Utah: What Area Residents Should Know
Lehi, Utah, sits at the center of the booming Silicon Slopes corridor, where technology, innovation, and entrepreneurship fuel rapid growth. With major employers like Adobe and Qualtrics, along with a growing roster of startups and construction firms, many residents are building significant careers and wealth at a faster pace than in previous generations. This makes retirement planning in Lehi important and complex.
Whether you’re deep into your career, selling a business, or just starting to see long-term financial security take shape, thoughtful retirement planning can help you make the most of your success and protect what you’ve built.
Why Retirement Planning in Lehi Is Different
Lehi is home to a younger-than-average population. Yet it’s also one of Utah’s fastest-growing and highest-earning cities. That means many households are juggling both wealth-building opportunities and family responsibilities—like college savings, mortgages, and supporting children—while needing to prepare for a long retirement horizon.
Additionally, being in the heart of Silicon Slopes brings financial concerns such as:
Equity compensation (stock options, restricted stock units, etc.) from technology companies like Adobe and Qualtrics.
Business ownership opportunities, particularly in construction and professional services.
Cross-state ties, as many professionals relocate between Utah’s and California’s innovation hubs.
All of these factors mean that retirement planning here requires strategies that go beyond a “one size fits all” approach.
Key Considerations for Retirement Planning in Lehi
1. Maximizing Employer Benefits: Many Lehi employers, including major tech companies and construction firms, offer 401(k) plans with matching contributions. A 401(k) is a tax-advantaged retirement account where your contributions grow tax-deferred until retirement.
If you have access to one, contributing enough to capture the full employer match is often the first step in building a strong retirement foundation. If you’re able, max out your contributions ($23,500 for 2025). And if you’re 50 or older, you can contribute additional funds in the form of catch-up contributions.
For those with equity compensation, it’s also important to integrate stock holdings with your retirement plan. Concentrated positions in company stock can create opportunity but also risk, making diversification (spreading investments across different asset types) important.
2. Tax-Efficient Strategies: Utah residents enjoy relatively low income tax rates, but federal taxes can still take a big bite out of investment gains and retirement withdrawals. Tools like Roth IRAs and health savings accounts (HSAs) may offer tax-free growth opportunities when used strategically.
A Roth IRA is an account where you make contributions with after-tax dollars. Your future withdrawals are tax-free, which can increase tax flexibility in retirement.
While a health savings account is designed for medical expenses, you can also use it as a powerful retirement tool with its triple tax advantage: Contributions are tax-deductible, growth is tax-free, and withdrawals for qualified health expenses are also tax-free. Once you reach age 65, you can withdraw from your HSA for any purpose without penalty, although non-healthcare withdrawals will be taxed as ordinary income.
In some cases, advanced planning—such as tax-loss harvesting (offsetting gains with losses) or Roth conversions (shifting money from a traditional IRA to a Roth IRA)—can significantly reduce your lifetime tax burden.
3. Planning for Longevity: Utah consistently ranks among the states with the longest life expectancy. That means many Lehi residents may spend 25–30 years in retirement. Ensuring that assets last through decades of market cycles, healthcare costs, inflation, and lifestyle goals requires careful modeling and disciplined investing.
Planning for this kind of longevity often involves balancing growth-oriented investments with stable income sources, building healthcare costs into projections, and using strategies like systematic withdrawal plans to create reliable income streams over decades. A fiduciary financial advisor can help you create a retirement income plan based on your longevity expectations and retirement goals.
4. Business and Real Estate Considerations: Lehi and nearby cities like Saratoga Springs and Draper are thriving not only in tech but also in construction and real estate. Business owners and commercial construction professionals often face unique retirement planning needs, such as:
Designing tax-efficient succession strategies.
Diversifying wealth outside the business.
Coordinating personal retirement goals with company growth.
By addressing these considerations early, business owners and construction professionals help position themselves to secure their company’s future and their own retirement.
5. Family and Community Goals: For many local couples and individuals, retirement planning isn’t just about their own needs—it’s also about creating opportunities for future generations. Whether it’s funding education (such as for students at BYU), tax-efficiently supporting charitable causes, or leaving a lasting legacy, aligning financial plans with your values is a central piece of the retirement puzzle.
How Parkshore Wealth Management Supports Lehi Residents
We are an independent, fee-only fiduciary Registered Investment Advisor (RIA). This means clients receive guidance free from commissions or product sales incentives. With meeting locations in Lehi, Utah; Logan, Utah; Granite Bay, California; and Folsom, California, we work with professionals and business owners across Silicon Slopes and beyond.
Our specialty experience includes:
Technology professionals at companies like Adobe and Qualtrics who are navigating stock compensation and other complex benefits.
Commercial construction industry professionals who are balancing business needs with retirement goals.
University faculty and staff at institutions such as BYU and Utah State who are integrating their benefits into the big picture of retirement.
By combining local insight with comprehensive financial strategies, we help residents create retirement plans that are as dynamic and forward-looking as the community itself.
Taking the Next Step
Retirement planning in Lehi isn’t just about accumulating wealth—it’s about making intentional choices today that give you confidence tomorrow. From maximizing employer benefits to structuring tax-efficient withdrawals and protecting family legacies, the right plan can make all the difference.
If you live or work in Lehi—or are connected through the broader Silicon Slopes community—now may be the perfect time to start mapping out a retirement strategy that fits your goals, lifestyle, and vision for the future.
Schedule a complimentary, 15-minute chat with a fee-only, fiduciary financial advisor today to discuss your personal situation.
This material was written in collaboration with artificial intelligence (ChatGPT) derived from sources believed to be accurate. This information should not be construed as investment, tax, or legal advice.
Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor with offices in Granite Bay and Folsom, CA, and Lehi and Logan, UT. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country’s leading professional association of fee-only financial advisors.