Priorities
Whenever I hear criticism of Reverse Mortgages based upon how much they cost the borrower or the borrower’s heirs, I wonder about the education and age of the source.
Education because all the possible structures and benefits of Reverse Mortgages are so vast, it requires a substantial amount of study to understand them.
Age because it usually takes a lot of years of living to be able to imagine how life feels further down the path we all travel.
From where I stand now, the things that are really important have changed. I used to be very competitive. My goal was to put as many points on the scoreboard as I could. But lately, a financial portfolio with a lot of big numbers isn’t the carrot it once was. Being able to contribute something meaningful is the greatest compensation.
“Reverse Mortgages are too expensive?” Compared to what? Lying awake at night wondering how to pay all your bills? Or, wondering where you’re going to be living next month? You must agree, escaping those worries holds value beyond measurement.
The top three priorities for me and most of my senior contemporaries are:
- Security
- Dignity
- Independence
To us, these things are the essence of life. In my experience, families who really understand these priorities rally around their senior loved ones and do everything in their power to help achieve them.
— Marlan J. Holland
