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Retirement Planning Services Burlington NC

See below to find local retirement planning services in Burlington 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.

Mr. Thomas Davis Mcgowen, Jr., CFP®
(336) 226-7343
PO Box 1440
Burlington, NC
Firm
STOUT STUART MCGOWEN & KING LLP

Data Provided by:
Mr. Timothy R. Bolinger, CFP®
(336) 222-5812
2832 S. Church Street
Burlington, NC
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Investment Planning, Long-Term Care, Retirement Income Management

Data Provided by:
Mrs. Erin Lynch Cockman, CFP®
(336) 227-6234
500 S Main St
Burlington, NC
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Intergenerational Planning, Investment Management, Long-Term Care
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Profession: Not Applicable

Data Provided by:
Mr. Archie Lee Martin, CFP®
409 Oakland Dr
Burlington, NC
Firm
Wells Fargo Advisors

Data Provided by:
Mr. John D. Hansell Jr., CFP®
(336) 524-9010
348 Holly Hill Ln
Burlington, NC
Firm
HBS Financial Advisors

Data Provided by:
Mr. William H. Smith, CFP®
(336) 684-5939
PO Box 1898
Burlington, NC
Firm
The Trust Company of the South

Data Provided by:
Lawrence M Dunning, CFP®
(336) 586-0012
3065 S Church St
Burlington, NC
Firm
Raymond James
Areas of Specialization
Banking, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Education Planning, Insurance Planning, Investment Management

Data Provided by:
Mr. Philip D. Stuart, CFP®
(336) 226-7343
1233 S Church St
Burlington, NC
Firm
Stout Stuart McGowen & King, L

Data Provided by:
Mrs. Jamesine M Killorin, CFP®
2523 Pineway Drive
Burlington, NC
Firm
Jamie M. Killorin, CPA, CFP
Areas of Specialization
Charitable Giving, Women's Finances

Data Provided by:
Mr. Jeffrey S. Blaser, CFP®
(336) 586-0012
3065 S Church St
Burlington, NC
Firm
Blaser Investment Management Group, LLC
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
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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