Michael Flood

The successful do not leave their financial lives to chance — they have a plan.

What’s your relationship with your finances?

Many people feel unsure about whether they’re doing enough to secure their financial future. My job is to replace that uncertainty with clarity and confidence.

We work with clients on their investment strategies, but our work begins with understanding what truly matters to you — your goals, your hopes, and the life you’re working hard to build. Investments are simply the engine behind that vision.

As your wealth grows, it brings new complexities: rising tax exposure, concentrated stock positions, estate questions, and hidden risks that can leave you wondering whether you’re protecting everything you’ve earned. We’re here to help you make sense of it all — turning uncertainty into clarity and keeping your strategy aligned.

We look around corners for opportunities and threats so you can prepare — not react. In a constantly evolving world, financial preparedness has never been more critical.

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Common Questions-

Do I really need a financial advisor to retire comfortably?
Many people ask this as retirement gets closer.
It’s not about intelligence or effort—it’s about complexity.
Social Security timing, taxes, income planning, and market risk don’t operate in isolation.
For many retirees, the value of an advisor is having a clear plan and a steady guide when conditions change.
If you’re curious – have a conversation

When should I claim Social Security?
This may be the most common retirement question people ask—especially in their early 60s.
Claiming at 62, full retirement age, or 70 can lead to very different lifetime outcomes.
Health, marital status, income needs, and other assets all matter.
There’s no universal “best” age—only what works best for your situation.

How do I know if I’m actually on track to retire?
Account balances alone don’t tell the full story.
Being “on track” depends on:
• Spending needs
• Retirement age
• Inflation
• Healthcare costs
• Reliable income sources
A clear retirement projection often brings relief—not because it’s perfect, but because it creates visibility.

What does a financial advisor actually do for retirees?
For retirees, advice usually shifts from accumulation to distribution.
That often includes:
• Turning savings into income
• Managing investment risk
• Coordinating Social Security
• Planning around taxes
• Adjusting as life changes
Retirement isn’t a single decision—it’s a long phase that benefits from ongoing guidance.

How much money do I need to retire at 65?
This question comes up all the time.
The honest answer: there’s no universal number.
The right amount depends on lifestyle, longevity, healthcare costs, and guaranteed income like Social Security or pensions.
Planning around spending is often far more reliable than chasing a rule‑of‑thumb target.

Should I pay off my mortgage before retirement?
For some, eliminating a mortgage provides confidence and clarity.
For others, flexibility and liquidity matter more.
Interest rates, taxes, and how assets are otherwise used all play a role.
This is less about a “right” answer and more about aligning decisions with retirement cash flow priorities.

How can I create steady income in retirement without running out of money?
This concern sits at the heart of retirement planning.
Most retirees rely on a mix of:
• Social Security
• Investment withdrawals
• Possibly pensions or annuities
A thoughtful withdrawal strategy helps balance income today with flexibility for tomorrow.

What are the biggest mistakes people make when retiring?
A few patterns show up often:
• Claiming Social Security too early
• Underestimating healthcare costs
• Ignoring tax impacts
• Taking mismatched investment risk
Retirement mistakes are rarely about markets—they’re usually about decisions made without a full picture.

How are retirement withdrawals taxed?
One of the most common surprises in retirement is taxes.
Different accounts are taxed differently:
• Traditional retirement accounts
• Roth accounts
• Taxable investments
Coordinating withdrawals can help manage taxes over time instead of reacting year by year.

How do you choose a financial advisor?
Your advisor can become an extension of your family, being involved in big life-changing decisions.
Many people look for:
• An advisor working for your best interests – not theirs
• Experience with planning for clients’ unique goals – not just boasting about their ‘stock picks’
• Explains decisions clearly – in terms you can relate to and understand
• An advisor in position for a long‑term relationship – when they retire you do not want to start over or be passed along
• Is transparent about fees

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Michael is a Senior Portfolio Advisor and holds the Chartered Retirement Planning Counselor™ certification. He received his MBA of Finance from the University of Loyola Chicago where he graduated with honors and has a bachelor’s degree in business from the University of DePaul.

^{*A Senior Portfolio Advisor can help clients pursue their objectives by managing on a discretionary basis custom investment strategies, selecting from a wide range of Merrill Lynch Wealth Management model portfolios and third-party investment strategies.}