Charles de Gaulle once said, “Old age is a shipwreck.” In the third millennium, that’s outmoded thinking. Growing older does not necessarily mean a slide into senescence. As we’ve explored many times, people well past “retirement” age are launching encore careers, working long past 65 at jobs they love, and often eschewing the “grandparent” label, no matter how much they love their grandchildren.

Rabbi David Wolpe writes, “If you think of the storm and gales, emotional, physical, even historical, that so many of the elderly have had to endure, the image of a shipwreck makes a new kind of sense.

“Just as we rush to interview the survivors of any difficult experience, for we know there is an insight born of survival itself, we should look to those who are older not only for the wisdom of living, but also for the wisdom of aging.”

To put this in proper perspective for reverse mortgage professionals: if an elder client can understand the complexities of today’s HECM, they’re obviously not out to sea, but surfing the waves of the “new old age” with aplomb!

Plan It or Planet?

So how can a feisty older adult tell when retirement is calling? First, by knowing what “plan-it” they live on.

If planning has always been second nature, and the individual or couple has a nest egg, little debt, a solid portfolio, and perhaps a reverse mortgage (or has looked into this option for the future), they may be able to retire comfortably at a comparatively young 65 or 70, and enjoy many years of good health, travel, and fun.

For others, retirement means an opportunity to focus on higher purpose; to relinquish a paycheck in order spend time serving the greater good, says change consultant Tom Rausch.

Utilizing the 7 Levels Model of Human Consciousness, which parallels the 7 Stages of Development as well as Abraham Maslow’s Hierarchy Of Needs, Rausch describes how individuals and businesses can make a difference, whether that entails:

• Providing basic survival needs such as shelter and food
• Building relationships and self-esteem
• Helping people and organizations grow and innovate
• Developing shared vision and values
• Mentoring at the community level
• Thinking and acting on a large scale in terms of social responsibility, the environment, future generations, ethics, and compassion.

What this model clarifies is that we can start where we are, whether it’s one older adult using their HECM proceeds to allow them the time and resources to help a neighbor or friend, or a group of dedicated seniors taking a grander view.

The Wisdom of Age in Service to All

Organizations such as The Elders, “work for the benefit of future generations, create a more just society on a mass scale, and develop sustainable solutions,” notes Rausch.

The Elders focus on areas where they are uniquely placed to make a difference. This can mean private advocacy, using their collective influence to open doors and gain access to decision-makers. Or promoting neglected issues and speaking out against injustice.

The concept originated a decade ago from a conversation between consummate entrepreneur Richard Branson and musician Peter Gabriel (originally with the rock band Genesis). Both men, now 67, are longtime humanitarians.

With global elders such as Nelson Mandela and Desmond Tutu on board, they formally launched The Elders with Mandela’s 89^th birthday speech, in July 2007.

A First-time Entrepreneur At 82 

One person can make a major impact, both in the community and in the world at large. Carol Staninger, for example. Wheelchair-bound Staninger, now 82, worked for a Florida hospital for 42 years. Well into retirement, she became passionate about the plight of babies and young children who died from being accidentally left in hot cars.

So she conceptualized Save Our Loved Ones, a motion monitor slightly smaller than a home fire alarm that attaches to the inside of a car’s roof. It links to a keychain fob, and sets off an alarm if it detects even the slightest movement within the vehicle.

She’s invested $170,000 of her own money in the project so far, and is aiming to release the product this fall for $300 retail, “with the hope that it becomes integrated into car manufacturing in the future.” This octogenarian startup founder had a vision, a plan, a purpose, and the drive to make it a reality. That’s turning old age into old sage.