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Retirement Planning Services Sioux Falls SD

See below to find local retirement planning services in Sioux Falls 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. David D. Brandt, CFP®
(605) 336-0935
622 S Minnesota Ave
Sioux Falls, SD
Firm
Brandt Solomon & Anderson LLP
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Estate Planning

Data Provided by:
Mr. Thomas E. Pruner Jr., CFP®
(605) 339-1999
200 E 10th Street
Sioux Falls, SD
Firm
Eide Bailly, LLP

Data Provided by:
Mr. Neil H. Graff, CFP®
(605) 977-2801
200 E 10th Street, Ste 500
Sioux Falls, SD
Firm
Eide Bailly Financial Services

Data Provided by:
Ms. Barb J. Vavruska, CFP®
(605) 274-9156
3901 E 10th St
Sioux Falls, SD
Firm
Securities America, Inc.

Data Provided by:
Mr. James P. Volin, CFP®
(605) 335-1693
1509 S Minnesota Ave Ste 203
Sioux Falls, SD
Firm
Ameriprise Financial Services,

Data Provided by:
Mr. John D. Wenande, CFP®
(605) 977-2709
200 E 10th St Ste 500
Sioux Falls, SD
Firm
Eide Bailly LLP

Data Provided by:
Daniel Lynn Freese, CFP®
(605) 339-8729
141 N Main Ave Ste 601
Sioux Falls, SD
Firm
USBancorp
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues

Data Provided by:
Verlyn Earl Hahn, CFP®
(605) 275-3600
3101 S Phillips Ave.
Sioux Falls, SD
Firm
Hahn Financial Group, Inc.

Data Provided by:
Mr. Thaddeus M. Barnes, CFP®
(605) 338-6500
300 Cherapa Place
Sioux Falls, SD
Firm
Morgan Stanley
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Nicholas Volin, CFP®
(605) 335-1693
1509 S Minnesota Ave Ste 6
Sioux Falls, SD
Firm
Ameriprise Financial

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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