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Retirement Planning Services Mayfield KY

See below to find local retirement planning services in Mayfield 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.

Johanna Fox Turner
Milestones Financial Planning, LLC
270/247.0555
907 Paris Road
Mayfield, KY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Tax Planning, Planning Issues for Business Owners, Retirement Plan Investment Advice, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Mr. Ralph C. Pickard Jr., CFP®
(270) 970-0910
1248 Links Ln
Mayfield, KY
Firm
Joncreek Consulting, LLC

Data Provided by:
Ms. Deborah R. Blankenship, CFP®
(270) 527-5433
100 West 5th Street
Benton, KY
Firm
The Life Associates, Inc.
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Elder Care, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
US Bank - Draffenville Office
(270) 527-0036
95 US Highway 68 E
Benton, KY
Drive Up Hours
Mon 08:00 am to 04:00 pm
Tue 08:00 am to 04:00 pm
Wed 08:00 am to 04:00 pm
Thur 08:00 am to 04:00 pm
Fri 08:00 am to 06:00 pm
Sat 08:00 am to 12:00 pm

William Cox
William W. Cox CPA/PFS CFP
(270) 444-0410
PO Box 8064
Paducah, KY
Expertises
Estate & Generational Planning Issues, Middle Income Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®, CPA/PFS, MBA

Ms. Johanna Turner, CFP®
(270) 247-0555
907 PARIS RD
MAYFIELD, KY
Firm
MILESTONES FINANCIAL PLANNING, LLC
Areas of Specialization
Accounting, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning, Government and Military
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: Not Applicable

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Steven G. Sacora, CFP®
(270) 382-2717
319 Sacora Ln
Sedalia, KY

Data Provided by:
US Bank - Mayfield KY Office
(270) 247-9494
406 S 7th St
Mayfield, KY
Drive Up Hours
Mon 08:00 am to 04:00 pm
Tue 08:00 am to 04:00 pm
Wed 08:00 am to 04:00 pm
Thur 08:00 am to 04:00 pm
Fri 08:00 am to 06:00 pm

US Bank - Benton KY Office
(270) 527-1383
201 E 11th St
Benton, KY
Drive Up Hours
Mon 08:00 am to 04:00 pm
Tue 08:00 am to 04:00 pm
Wed 08:00 am to 04:00 pm
Thur 08:00 am to 04:00 pm
Fri 08:00 am to 05:00 pm
Sat 08:00 am to 12:00 pm

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