Reverse

Last Word: A Birthday and a Milestone

Written by Ralph Rosynek, as originally published in The Reverse Review.

 

March 31, 2016, was a very unusual day in my life. First, my wife and I were in the “happiest place on earth” experiencing the magic that is Disney World, a birthday gift from my daughter and son-in-law.

Second, my birthday morning began quite early, as I awoke to phone calls and texts before sunrise heralding the news that I had just become a grandfather to Benjamin Andrew Rosynek.

Caught up in the moment, it wasn’t until the Disney character breakfast when my two granddaughters sang and helped me blow out the cake candles with Minnie that I realized I achieved the poster-child eligibility age for reverse mortgages. Yes, I was now one of nearly 300,000 American baby boomers who turned 62 that month.

For many years, I have been an active member of this industry, writing, speaking and participating in conversations about a mortgage loan product that continues to inspire in me a passion and drive to assist senior Americans in pursuit of financial stability, lifestyle maintenance and independence.

With the musical notes of “It’s a Small World” in the background (now you can’t get that song out of your head either!) and an army of strollers zooming about me, I gave pause. Now that I was 62, I thought of my own ability and willingness, assessing my career and lifestyle. Was I ready for my own reverse mortgage?

It would appear that my willingness continues to be strong and present. Having good health, the love and support of family and friends, and the opportunity to continue to grow and give back to what is still an emerging market, I remain excited and positive as this next chapter of my future unfolds.

Charged by the idea that 62 is the new 52 (and I do believe this to be true in many cases), I feel confident that I can still add to my bucket list and accomplish many more goals and achievements, which I am very willing to do.

My ability assessment is greatly supported by remembering the many embraces of satisfied and relieved seniors. My ability has also grown significantly as I work with colleagues and customers to sharpen my own knowledge and skills, as well as impart subject matter expertise to those same individuals seeking reverse mortgage resources and input.

As this is a product that is not “sold,” the education and training required to truly “right fit” a borrower is a determination of their ability to succeed in the loan. Contributing to the discussion on how to best do this keeps me moving forward, eager to learn.

So, comfortable in my continuing career, I looked at my lifestyle. Would I engage the reverse mortgage product as a component of my retirement strategy? As empty nesters who have raised, educated and encouraged three now married children, with the monthly love letters from Sallie Mae/Navient requesting a check soon to cease (!), and the two of us hopefully acknowledging we still have a long life ahead, our discussions have begun as to the “right fit” for our current situation. And yes, downsizing a couple thousand square feet is on the agenda, and perhaps a HECM for Purchase is in the near future.

For those of you reverse mortgage baby boomer professionals soon to reach poster-child age, my suggestions are quite simple:

Relax.

The sun came up; it is just another exciting day. Be grateful for the ability and willingness to participate in an industry that provides tangible results and allows you to use your skills and knowledge to help others.

Pursue.

Seek challenges that continue to stimulate you and harness your ability and willingness to continue participating in an industry where flexibility and change keep you on your toes.

Lastly, you may wonder why I did not mention retirement. Right around my birthday, the Social Security Administration advised me that Normal Retirement Age tables for individuals born in 1954 indicate my eligibility begins at 66!

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