Retirement Planning in New York City. Let's Make Sure You Are Actually Ready.
We help pre-retirees across New York, Pennsylvania, Virginia, Maryland, and Washington DC build a personalized retirement plan that makes the most of what they have built and prepares them for whatever comes next.
Pre-Retirees
Retirement planning can feel overwhelming and it is natural to have questions along the way. Are your savings and investments on track? How long do they need to last? Is your investment strategy still aligned with this stage of life and today's market conditions?
These are not simple questions, and the answers look different for everyone. At MFM, we start by understanding exactly where you stand. Then we build a personalized pre-retirement financial plan that makes the most of what you have built and prepares you for whatever lies ahead.
OUR SERVICES
How We Help You Plan Ahead of Retirement
Healthcare Planning
Healthcare is one of the biggest and most unpredictable costs you will face in retirement. We help you understand your options, estimate your future costs, and build a plan that accounts for them before they catch you off guard.
Insurance Strategies
The coverage that made sense during your working years may not be the right fit as you approach retirement. We review your full insurance picture and help you adjust so you are protected in the ways that actually matter at this stage of life.
Income Planning
Where will your income come from when your paycheck stops? We help you map out every source, Social Security, investments, pensions, and other asset
Longevity Planning
People are living longer than ever, and your retirement plan needs to reflect that. We help you plan for a retirement that could last 25 to 30 years, making sure your money is structured to go the distance.
Tax Planning Before Retirement in New York
The years leading up to retirement are often the best window for smart tax moves. We take a proactive approach to tax planning before retirement, identifying opportunities to reduce your future tax burden while you still have the flexibility to act.
Social Security Planning
When you claim Social Security is one of the most consequential financial decisions you will make. Claim too early and you leave money on the table for the rest of your life. We help you understand your options and choose the timing that works best for your specific situation.
Medicare Planning
Medicare enrollment has strict deadlines and missing them can cost you permanently higher premiums. We walk you through your Medicare options, help you understand the difference between your coverage choices, and make sure you enroll correctly and on time.
Estate Planning
Retirement is also the right time to make sure your estate plan reflects where you are today. We work alongside trusted legal professionals to make sure your assets are organized, your wishes are documented, and your family is protected.
Frequently Asked Questions
Questions Pre-Retirees Ask Us
How much do I need to retire in New York City?
There is no single number that works for everyone, but most financial planners in New York use a starting point of 70 to 90 percent of your pre-retirement income as an annual target. The real answer depends on your lifestyle, your healthcare costs, how long you plan to work, and what you want retirement to look like. We help you build a number that is specific to you, not a national average.
When is the best time to claim Social Security in New York?
For most people, waiting until at least full retirement age, and ideally age 70, results in significantly higher lifetime benefits. But the right answer depends on your health, your other income sources, and whether you are married. We run the full analysis before making any recommendation.
How do my taxes change when I stop working?
Your tax picture shifts significantly in retirement. You move from wage income to a mix of Social Security, retirement account withdrawals, and investment income, each taxed differently. Smart tax planning before retirement in New York can reduce what you owe for years after you stop working.
Should I change my investment strategy as I get closer to retirement?
Almost certainly yes. The investment strategy that made sense at 40 is rarely the right one at 60. As retirement gets closer, protecting what you have built becomes just as important as growing it. We review your portfolio with that transition in mind.
What is longevity risk and why does it matter?
Longevity risk is the chance that you outlive your money. With life expectancies continuing to rise, a retirement that lasts 30 years is no longer unusual. We build every retirement plan around that possibility so you are not left making difficult choices later in life.
How do I handle Medicare enrollment when I retire?
Medicare enrollment begins at 65 and missing the initial enrollment window can result in permanent premium penalties. If you are still working at 65 and covered by an employer plan, different rules apply. We help you navigate the timing so you never pay more than you have to.