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Retirement Planning Services Aberdeen SD

See below to find local retirement planning services in Aberdeen that provide access to advice on saving programs, investing strategies, real estate planning, traditional pensions, and Social Security as well as advice and content on retirement calculator and creating a secure retirement plan.

Mrs. Agatha K. Johnson, CFP®
(605) 290-3521
415 17th Ave NE
Aberdeen, SD
Eide Bailly Financial Services
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Investment Management, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Michael J. Weber, CFP®
(605) 229-0030
PO Box 15
Aberdeen, SD
Areas of Specialization
Tax Preparation
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Charlie Jakober, CFP®
(605) 226-8220
12986 Idlewood Dr
Aberdeen, SD
Ameriprise Financial

Data Provided by:
Mr. Robert J. Gunderson, CFP®
(605) 225-0104
308 S Main St
Aberdeen, SD
Investment Centers of America

Data Provided by:
Wells Fargo - Kessler'S Aberdeen
(605) 225-5795
615 6Th Ave Se
Aberdeen, SD
In-Store Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Mr. Kenneth Krause, CFP®
(605) 229-2073
101 3rd Ave SW
Aberdeen, SD
Amerprise Financial

Data Provided by:
Ms. Sarathi Giridhar, CFP®
(605) 225-1047
320 6th Avenue SE
Aberdeen, SD
Schwan Financial Group, LLC
Areas of Specialization
Estate Planning

Data Provided by:
Mr. Dana E. Randall, CFP®
(605) 225-3130
PO Box 12
Aberdeen, SD
Raymond James Financial Serv

Data Provided by:
US Bank - Aberdeen Office
(605) 226-4100
320 S 1st St
Aberdeen, SD
Drive Up Hours
Mon 08:30 am to 05:30 pm
Tue 08:30 am to 05:30 pm
Wed 08:30 am to 05:30 pm
Thur 08:30 am to 05:30 pm
Fri 08:30 am to 05:30 pm
Sat 09:30 am to 12:00 pm

Wells Fargo - Aberdeen
(605) 229-8242
204 S 1St St
Aberdeen, SD
Private Client Services
Office Hours
Mon-Fri 08:00 AM-05:00 PM
Sat-Sun Closed After Hours call toll free: 1-866-460-8470

Data Provided by:

Retirement Income from Your Manufactured Home

Retirement Income from Your Manufactured Home
Wed 09/05/07 10:16:20 am
Enjoy the Equity You Invested

Whether seeking money to finance a home improvement, pay off a current mortgage, supplement your retirement income, pay for healthcare expenses, or just to enjoy life, many older Americans are turning to reverse mortgages. They allow senior homeowners to convert part of the equity in their homes into cash without having to sell their homes or take on additional monthly bills These loans are being viewed as alternative income for seniors who don't want to liquidate their stock and bond assets in a down market.

A reverse mortgage allows home owners aged 62 and older to receive a loan against their home -- either in the form of a lump sum, regular monthly checks or a line of credit -- that's repaid with interest when the borrower sells the house, permanently moves, or dies.

They were once branded predatory loans that preyed on vulnerable older people. For years, the market was dominated by products with convoluted pricing structures, high exit fees and out-of-control interest rates.

But they have gained more credibility in the last decade, tamed by legislation in the mid-1990s that required more upfront disclosures of costs. Plus, software that allows for objective comparisons of loan offerings has helped people get a handle on their options, said Bronwyn Belling, reverse-mortgage specialist at the AARP Foundation, a unit of AARP in Washington, D.C..

Adding to people's comfort levels, the first federally insured product was introduced in 1989. It now makes up about 95% of all reverse-mortgage sales.

In the last fiscal year ended Sept. 30, the number of reverse mortgages rose to a record 13,049. That's nearly double the previous record of 7,982 in 1999, and last year's total sales of 7,781, according to data from the National Reverse Mortgage Lenders Association, NRMLA, a trade group for reverse-mortgage lenders in Washington, D.C.

Today's borrowers seem to be using cash from reverse mortgages to pay down remaining debt on their traditional mortgages, and using the remainder to fund other retirement costs, said Jeff Taylor, vice president for senior products at Wells Fargo Home Mortgage in Greensboro, N.C. Seniors are seeking a combination of payment method -- lump sum and monthly check or line of credit and monthly check, he added.

The reason some homeowners turn to a reverse mortgage instead of a traditional home-equity line of credit is because debt payments, including interest and other costs, are stalled until a later date, usually when the owner dies. Few out-of-pocket costs can be a huge lure for income-strapped retired people.

But as more people become aware of the potential benefits of a reverse mortgage -- a trend that is expected to continue as the population over the age of 62 expands -- they should also be aware of the drawbacks.

A Reverse Mortgage is a loan that is gua...

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