Reverse

Last Word: Reverse Mortgages: Much More Than Just Business

Written by Cheryl McGrath, as originally published in The Reverse Review.

Sometimes I think it’s important to point out why we do what we do.

I believe in the theory of “successful aging,” and while the term is surely not mine, the four pillars that I believe make up this formula are. I had the privilege of having an older-than-most father, meaning he was 61 when I was born. I’ll be 40 this year, so you can do the math. While most people his age were slowing down, less able to enjoy activities, or dealing with health issues, he was just ramping up for the second half of life with young children again (my older brother is four years my senior). Anyway, I noticed as a child that my dad had four consistent things in his life, things that made him happy and helped him to continually grow as a person. While I gleaned this idea from my dad, I was able to further explore these concepts in my gerontology classes during college:

Social stimulation: He was a part of church groups and bowling leagues, coached T-ball, had many friends and volunteered. All these things were with people he loved being around. And through them he developed a strong sense of community.

Mental stimulation: He read the newspaper every morning, loved maps, got into stamp collecting and learned everything he could about that, played Scrabble and traveled to new places.

Physical activity: My dad was a drapery maker and installer by trade, so he was physically active on a daily basis, climbing up and down ladders, crafting interiors. He golfed once a week, swam with us in the pool, coached sports teams and bowled. He loved moving and doing things and, until his knees really failed him, was active for most of his life. Recovering from a hospital stint, we used to time him as he took a lap around the living room and kitchen with his walker.

Spiritual awareness: My dad was a religious man, but that is not necessarily a requirement for successful aging. While spirituality is defined by each person individually, I think it’s quite common for older adults to have a religious or spiritual side. And in my father’s case, he was fulfilled by his faith.

There is one very important foundational element to help achieve all of the above in one’s life, and that is financial stability. If a person has a sense of financial well-being, they can more easily focus on maintaining these four essential pillars and, in the process, enjoy life without financial worry.

My first attempt at a career after college was a mobile senior fitness business, but I soon came to realize that in order to move out of my parents’ home, I needed a real job! I was desperate to find work that meant something to me, and when I finally stumbled across reverse mortgages, I knew this was it. I began originating for Financial Freedom in 2002 and worked in that position for four and a half years before switching to the wholesale side of the business in 2007.

I have built a career that has helped me touch lives, including my mother’s. By obtaining a reverse mortgage and enjoying the financial security that comes with it, my clients are able to focus on living meaningful, fulfilling lives as they age.

I’m sure each and every reverse mortgage professional—processors, head underwriters, LOs and CEOs—has their own reason for doing what they do. This business has a way of inciting passion in people. For many, the world of reverse mortgages is more than just a business. It’s a valuable service we provide for older members of our communities who deserve to spend their later years enjoying an active and fulfilling life, firmly focused on the four pillars of successful aging.

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