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Retirement Planning Services Frankfort KY

See below to find local retirement planning services in Frankfort 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. Michael L Wilkerson Ii, CFP®
(502) 352-2995
202 W Main St
Frankfort, KY
Layne Wilkerson Financial Services
Areas of Specialization
Budget Development, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Intergenerational Planning, Investment Management

Data Provided by:
Mrs. Aprill Ergas Shepherd, CFP®
(859) 879-5455
101 N Main St Fl 2
Versailles, KY
Community Trust Investment Company
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Intergenerational Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Fifth Third Bank
(502) 570-0259
Georgetown, 100 Lawson Dr
Georgetown, KY
Office Hours
M-TH 9-5; F 9-6; SA 9-12
Drive Up Hours
M-F 8-6; SA 9-12

Chase Bank
(502) 647-1688
251 Boone Station Rd
Shelbyville, KY
Office Hours

Scott Neal
D. Scott Neal, Inc.
(859) 254-3036
1999 Richmond Road
Lexington, KY
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, Planning Issues for Business Owners, Tax Planning
NAPFA Registered Financial Advisor, CFP®, CPA/PFS, M.Div., MBA

Mr. Donald E. Lewis, CFP®
(502) 839-9286
1048 Eagle Lake Dr
Lawrenceburg, KY
Lewis Financial,LLC
Areas of Specialization
Tax Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Fifth Third Bank
(502) 227-4588
West Frankfort, 1269 U.S. 127 Bypass
Frankfort, KY
Office Hours
M-TH 9-5; F 9-6; SA 9-12
Drive Up Hours
M-TH 8-5; F 8-6; SA 9-12

Fifth Third Bank
(502) 633-4652
Shelbyville, 300 Taylorsville Road
Shelbyville, KY
Office Hours
M-TH 9-5:30; F 9-6; SA 9-12
Drive Up Hours

US Bank - Shelbyville Office
(502) 633-6160
1622 Midland Trail
Shelbyville, KY
Drive Up Hours
Mon 08:30 am to 05:00 pm
Tue 08:30 am to 05:00 pm
Wed 08:30 am to 05:00 pm
Thur 08:30 am to 05:00 pm
Fri 08:30 am to 05:00 pm
Sat 08:30 am to 12:00 pm

Ramsey Bova
Moneywatch Advisors, Inc.
(859) 268-1117
444 E. Main Street Suite 106
Lexington, KY
Retirement Planning & Distribution Rules, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, College/Education Planning
NAPFA Registered Financial Advisor, CFP®

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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