Retirement Planning in Baltimore, Maryland
Expert Fee-Based Financial Planners in Baltimore, MD
There are many areas of financial planning that should be addressed—especially retirement planning—that ultimately lead to financial security for you and your family. The advisors at Geier Asset Management can help you with all of them. If you’re looking for an advisor who can understand your specific retirement needs, you’ve come to the right place. Geier Asset Management has been providing expert retirement planning services to residents of Baltimore, Maryland since 1999.
If you’d like to receive more information or ask a question about our retirement services, contact our trusted retirement planners serving Baltimore, Maryland to get started.
Planning Your Retirement in Maryland
A common question we hear is, “Have I saved enough to retire?” the answer to this question is different for everyone. It involves painting a picture of what retirement living means to you, as well as making quite a few financial calculations regarding savings, other assets, expenses, social security, health, and many other factors. The goal, quite simply, is to replace your monthly earnings before retirement with a well managed “retirement salary.”
Now you’re asking yourself, “When can I afford to retire?” You have worked extremely hard throughout your career with the goal of obtaining the financial security necessary to live an enjoyable lifestyle in retirement—whether you live in Homeland, The Orchards, North Roland Park, Poplar Hill, Guilford, Roland Park, Inner Harbor, Cedarcroft, Otterbein, Fells Point, Tuscany-Canterbury, and somewhere else in Baltimore.
Geier Asset Management’s retirement income specialists provide specialized attention and support as you approach retirement by identifying your goals and developing a strategy to adequately position you for your target date. We conduct a detailed analysis of your current financial situation, focusing on key factors such as:
- Accumulated assets
- Current debt
- Earned income until retirement
- Retirement income needs
- Current and retirement expenses
- Rate of return on investments
- Current and future tax income and capital gains tax rates
- Required minimum distributions and associated tax implications
- Social Security, Medicare, and Medicaid benefits
Whether it is defining the specific age at which you can retire, calculating the total amount of assets needed before you can stop working, or determining your budgeted level of spending during retirement, planning for the next chapter of your financial life is critical. That’s where having a trusted Baltimore retirement planner can help.
Contact our trusted fee-based financial planners in Baltimore, Maryland to get started with retirement planning.
Understanding Your Pension Benefits
A main source of retirement income for some clients is the pension they have earned through years of service with an employer. Clients will often target the date which they are eligible for their maximum pension as the date at which they wish to retire. Pensions are a great form of income for retirees, but the taxation and payout options for these plans can be complex.
Understanding the payout options available in the defined benefit plans is crucial to maximizing your retirement income. Some of these options to consider are:
- Lump sum
- Life only
- Life with term certain
- Joint and 100%
- Joint and 50%
Contact our retirement planners in Baltimore to understand your pension benefits and get started with retirement planning.
Social Security & Medicare Benefits
Major pieces to your retirement puzzle are your Social Security and Medicare benefits that may be available to you. Social Security is a source of retirement income, while Medicare provides healthcare and insurance once you reach retirement age. Both programs have various tax and eligibility implications, causing uncertainty for clients. Being well-versed in both areas for residents of Baltimore, we are able to help you navigate these benefit packages and provide insight regarding:
- Full retirement age
- Individual retirement benefits
- Disability benefits
- Survivor and family benefits
- Medicare Part A, B, C, and D
- Enrollment process
- Eligibility for Medicaid
- Taxation of benefits
The combination of these factors helps us understand your complete retirement picture, allowing us to generate various projections unique to you. We are able to develop a comprehensive plan for you as you approach retirement, identifying specific goals and a detailed course of action. Retirement planning is fluid and ongoing. We will make adjustments to your retirement plan along the way as your financial situation continues to evolve—whether you choose to stay in Baltimore or move somewhere else to enjoy your retirement. We understand your excitement for retirement and we are here to ensure you are financially able to do so.
A thorough understanding of Social Security and Medicare benefits has been valuable for our elderly clients. We’ll help you conquer the fear of outliving your retirement income. We will be there to guide you throughout your career so you are able to retire comfortably when you choose.
Working With Geier as Your Baltimore Retirement Planner
We have been planning for our Baltimore clients’ futures for the past 30 years. If you are approaching retirement, we have the knowledge and experience to lead you in the right direction. If you are struggling to stay on budget or are just eager to retire, our financial planning team can help.
Making wise financial decisions now will result in a better life for your family in the future. We have the experience, training, and ability to listen to your needs, devise a successful plan, and coach you to your goals. Let us help manage your wealth effectively, so your future is clear and your financial dreams are attainable.
If you are looking for an independent, trustworthy financial advisor in Baltimore, look no further than Geier Asset Management. Call us today to speak with an experienced retirement planning advisor.
You may be interested in…
- Self-Employed Retirement Planning Services
- Rising Debt In Seniors: Setting the Stage for Boomers
- ROTH IRA Explained
- Baby Boomer Retirement Tips
- Retirement Account Rollover
- Social Security Claiming Strategies
Our service area for retirement planning in Baltimore includes:
21201, 21202, 21205, 21206, 21207, 21208, 21209, 21210, 21211, 21212, 21213, 21214, 21215, 21216, 21217, 21218, 21222, 21223, 21224, 21225, 21226, 21230, 21231, 21234, 21236, 21237, 21239, 21251