Retirement Planning in Maryland

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. It requires an understanding of how you envision retirement, the lifestyle you wish to live, and of course, the assets and income sources to support it. Ultimately, our goal is to replace your current annual earnings with a variety of income sources in retirement – pensions, social security, investment income, etc.

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. Geier Asset Management provides 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, to help us build long-term projections that outline your retirement. Our comprehensive analysis considers the following:

  • Accumulated assets
  • Current debt
  • Earned income until retirement
  • Retirement income needs
  • Current and retirement expenses
  • Rate of return on investments
  • Income and capital gains tax rates
  • Required minimum distributions (RMDs)
  • Social Security and Medicare benefits

Whether it is defining the specific age at which you can retire, calculating the total assets needed, or determining the retirement lifestyle they can afford, individuals know that planning for the next chapter of your financial life is critical. That’s where having a trusted Maryland retirement planner can help.

Contact our trusted financial planners in 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 benefit.  Pensions are the greatest retirement income source for retirees, but the taxation and payout options of these benefits can be complex. Understanding the options available in your defined benefit plan is crucial to maximizing your income and potentially protecting your spouse. These options may include:

  • Lump sum
  • Life only
  • Life with term certain
  • Joint and 100%
  • Joint and 50%

Contact our retirement planners in Maryland to understand your pension benefits and get started with retirement planning.

Social Security & Medicare Benefits

Two major pieces to your retirement puzzle are your Social Security and Medicare benefits. Social Security is a source of retirement income while Medicare provides healthcare and insurance once you reach a certain age. Both programs have various tax and eligibility implications, causing uncertainty for clients. Being well-versed in both areas, 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 & D
  • Enrollment process
  • Eligibility for Medicaid
  • Taxation of benefits

Retirement planning is fluid and ongoing. Our financial planning advisors will make adjustments to your retirement plan along the way as your financial situation continues to evolve. 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 older 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.


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It’s never too early to start planning. Reach out to one of our advisors today to get your future started.

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Who We are

Meet our dedicated and experienced team at Geier Asset Management. We handle tax planning, investment management, financial planning, and retirement plan services for clients nationwide.
Joseph N. Geier, CPA

President/Client Manager
Brian Woods

Vice President/Client Manager
Gregory Palacorolla, CFP®

Director, Wealth Management
Daniel Mules, CPA

Client Manager
Brendan Winkler, CPA

Portfolio Accountant
Deborah Kresslein

Portfolio Administrator
Julie Keller

Executive Assistant