New Yorkers have a multitude of retirement planners to choose from in and around the city. With more Americans living into their eighties and nineties, you will want to make sure you are prepared for your retirement years.
When it comes to retirement planning, you should also be prepared in other areas of senior care. These can include estate planning, long-term care planning, and health care and medical expenses. It is estimated that as many as 65 percent of seniors will require long-term care after retirement, so it is advisable to prepare now.
A retirement planner can help you select the best retirement accounts and investments for your specific circumstance and portfolio. They can also explain the Social Security rules to you to help you avoid hefty tax penalties. You can take retirement at the earlier age of 62, however your monthly benefit will be higher if you wait until the full retirement age of 66 if you were born between 1943 and 1954. You must begin withdrawing benefits by the age of 70 ½ to avoid tax penalties.
Always research and compare retirement planners before hiring one to help you plan your future. Your friends and family may be able to offer recommendations. Since word-of-mouth is always a good gauge about a business’ services, check out the 20 firms listed on the Better Business Bureau (BBB).
The National Association for Personal Financial Advisors (NAPF) and the Certified Financial Planners (CFP) Board of Standards also host databases for certified planners in the New York City area. The NAPF displays more than two dozen advisors in 23 firms that specialize in retirement and estate planning. The CFP Board allows you to search by zip code, investable assets, and compensation options. The site also allows you to search for a bilingual CFP with 24 options. You can also find CFPs in the area that use American Sign Language.
The ElderCare Resource Center puts New York City seniors in touch with resources to stay in their homes longer or to find assistance. The site offers over 1200 links to resources like government benefits, support organizations, and physicians. The following is a list of resources the ElderCare Resource Center provides:
Care management Companion/errand assistance Health care products and assisted devices Legal resources Local resources for homebound seniors New York Medicaid and Managed Care Medicare Long-term care planning Senior housing resources Senior driving and transportation Veterans services
You can contact the office at 150 Broadhollow Road, Suite 120 in Melville or call 1-877-ELDER-50.
The New York City Department for the Aging also provides a listing of senior centers within the city and surrounding areas that offer services and programs like legal services, transportation, immigrant and refugee services, home delivered meals, and in-home services.
Find assisted living in New York near you.