Declare Your Independence


Open-Mtg-2018-Join-Us

7 Ways to Declare Your Independence


This coming Monday our nation will celebrate Independence Day, better known as July 4th, the historic day when the newly formed United States declared their autonomy from Great Britain. Beyond national independence and sovereignty, how can we become more independent individuals?independent2

Even as a spouse, employee or group member independence is not only desirable, it is an indispensable trait that each of us can develop, nurture and protect. Here are seven ideas for each of us to become more independent.

1. Act the Part. You may not always feel confident in a given situation, but that doesn’t mean you cannot act confidently. As I’ve often heard, ‘walk into the room like you belong there’. Confidence opens doors and often elicits respect from those you encounter.

2. Have a plan. If you don’t have a plan then you have forfeited your independence to be controlled by the whims of other’s desires, circumstances, and daily demands. If you don’t have a plan someone else has one for you, thus making you dependent.

3. Form good habits. Plans should lead to the development of …

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

Home Care By the Numbers

Aging in the Third Millenium: Part 4


Finding the right caregiver can be a challenge, especially when today’s feisty elders may not want or feel they need any help — even in their 90s. If only something as amorphous as matching your grandparent’s personality and lifestyle to the appropriate home assistant were more quantifiable.

HomeHero to the rescue. As its name implies, HomeHero connects seniors with home care mathematically, so there’s less room for error. And it works: HomeHero has gown to become the largest independent home care provider in California, where it launched in 2013.

The Match Game

reverse mortgage newsThe 15-point matching algorithm takes the guesswork out of finding the right match. It’s a little like friend dating — in fact, 28-year-old co-founder Kyle Hill says HomeHero is “more like Match.com than like Uber” — and affords seniors and their families the option of completing the questionnaire on their own online, or in collaboration with HomeHero via a phone call. (Though these entrepreneurs are young, they understand generational preferences — which are rapidly dissolving as today’s elders embrace technology).

According to a company profile in Forbes, HomeHero’s algorithm takes just twelve minutes to suggest suitable care providers. It’s not a new concept, or even disruptive, but it may be the best tech solution yet for seniors who themselves are on the leading edge technologically. As a next step, HomeHero is forming the HomeHero Collaborative, a care management platform for hospitals and health plans that connects and extends the health system into the home.

Born Free

Some seniors are going to refuse a home attendant no matter what. And they could be right: such a step might be unnecessary, with the advent of next generation PERS (personal emergency response systems). Freeus provides Belle, a mobile emergency alert pendant that connects users to an emergency care center 24/7, where Belle wearers can speak with specialists via built-in two-way voice technology. The specialists, in turn, will send loved ones or emergency services to seniors if such action is warranted.

A companion product, eResponder, features a rechargeable battery, and enables caregivers to receive low battery and power off notifications by text message and email. Caregivers can also be contacted if the eResponder user needs non-emergency assistance.

Reimagining Medicare

Then again, perhaps the best course of action is to start at the source, and reinvent Medicare. At Washington’s Center for Medicare & Medicaid Innovation, that’s precisely what a visionary alliance of doctors, lawyers, health policy experts, and career Medicare employees are attempting to do.

Created under the aegis of the Affordable Care Act, the Center has already tried 60 experiments that alter payment and accounting practices, to see what might be most effective.

Excessive Care?

The key to overhauling home care — or health care in general — lies in listening to the seniors themselves, as Atul Gawande makes clear in his breakthrough book, Being Mortal: Medicine and What Matters in the End. Our culture has a propensity for prolonging life at all costs, even to the detriment of the patient, which I experienced when my mother was dying. Though she had a DNR (do not resuscitate) on record, this did not take into account incidents that occurred while she was conscious, in the days and weeks following an unsuccessful heart valve replacement. The doctors recommended seemingly endless procedures that my Dad, wanting to do all he could for her, kept authorizing.

“Patients often want to be kept comfortable rather than undergo medical interventions, but physicians are trained to do everything possible to prevent death,” says Dr. Diane Meier, director of the Center to Advance Palliative Care and professor of geriatrics at Mount Sinai’s Icahn School of Medicine in New York. Yet, shockingly, doctors themselves do not choose these same medical procedures when they are terminally ill, preferring to spend their remaining time with loved ones rather than attempting to prolong their lives.

The 4 Cs of Proactive Care

What does “proactive” health care for seniors look like? It’s akin to what builds ongoing reverse mortgage relationships:

  1. Customer-centric
  2. Connected
  3. Continuous
  4. Coordinated

With digital technology and a person-centered focus, the shift towards connected, continuous, coordinated care that emphasizes the older adult in question is poised to become a welcome new model of proactive care.

 

Now is the Time to Speak Out


HUD Needs Feedback from Industry Professionals Like You


SPEAK-OUT

If you feel overwhelmed with the pace of changes being made to the Home Equity Conversion Mortgage program you’re not alone. Lenders, originators, and servicers have scrambled to keep up not only with the rule changes but to implement them into their business practices. HUD’s latest proposed rules are open for  public and industry comment.

Speak now or forever hold your peace.

Although HECM policies development is not a truly democratic process in the purest sense you still can make your voice heard. To date, less than a dozen public comments have been submitted.

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

Time Management Goes ‘Analog’


Open-Mtg-2018-Find-Place

Going Analog with a Bullet Journal Approach to Time Management

b-journalYou may benefit from adding some bullets to your life. Today most, including myself, make extensive use of online calendars on their desktop computer or mobile phone. After all shouldn’t we leverage technology for increased productivity since “there’s an app for that”?

Bullet journaling and planning is a concept whose time may have come for business professionals. Both online and paper day planners present their own unique challenges. For the most part, they make you fit into their time management methodology. For some…

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.

Whither Grandparenthood?

Aging in the Third Millenium: Part 3


My father’s parents adored being grandparents, and wanted us kids to call them by their first names because it “made them feel young”. Growing up, I didn’t see anything unusual about this.

Today, grandparents — especially younger, chic grandmothers — are youthifying with a vengeance. “Glam Grams” Goldie Hawn, Susan Sarandon and Kris Jenner prefer the monikers GoGo, Honey, and Lovey, respectively.

It isn’t only the famous and fabulous who are remaking the image of what a grandparent looks like, or is called. One 80-year-old grandmother now refers to herself as “Glam-ma” after her stunning style makeover. The Croatian grandma’s metamorphosis took place courtesy of her granddaughter, a professional make-up artist, and the before and after photos are stunning.

On Their Own

younger-grandparentBut as reverse mortgage professionals who work with this cohort every day are no doubt aware, the desire to transform the image of elders is not just physical. As seniors look ahead to possible decades of life left to enjoy, they may want to focus on their own pursuits a while longer — especially if they’re staying trim and fit.

AARP reports that the average age of first-time grandparents is now 47. Not exactly an age when most people are ready to spend all day on the golf course (unless they retired early to do just that!) or by the pool. And if these young glam-mas and go-get-’em grandpas still work, they may want to reserve their weekends for relaxing or travel.

In fact, according to Paul Cronin, partner in The Platinum Years, the concept of retirement itself is a big, fat lie. “It’s time to replace ‘retiring’ with ‘purposeful living’. It’s a time to reflect on your values. It’s a time to dig into the person you are today and ask if that is the person you wish to be in the future? So instead of thinking ‘when am I going to retire?’ ask yourself, ‘How am I going to get the most out of the rest of my life?'”

Is 100 the Magic Number?

Perhaps grandparents will have more bandwidth for the youngsters in their lives a few decades hence — when they’re 100. According to the National Institute on Aging, “The global number of centenarians is projected to increase 10-fold between 2010 and 2050. In the mid-1990s, some researchers estimated that, over the course of human history, the odds of living from birth to age 100 might have risen from 1 in 20,000,000 to 1 in 50 for females in low-mortality nations such as Japan and Sweden.” So the odds are good that some of your reverse mortgage clients and prospects may eventually become members of the Triple-Digit Club.

A New Pair of Genes

Then again, after a health and style makeover, glam-grams might decide to turn back the clock for real, by shopping for a new pair of genes: the first human gene rejuvenation has lengthened shortening telomeres, resulting in “younger” cells. Up until now, these DNA segments that shorten naturally with age couldn’t be genetically modified.

Perhaps unsurprisingly, the company that piloted this gene therapy has received strong interest from around the globe.

All of which might prove very good for your reverse mortgage business, as time goes by…

HECM Changes: For Better or Worse?


Do Recent HECM Changes Help or Hurt our Industry & Consumers?



Certainly one could argue that the recent changes to the federally-insured reverse mortgage have improved the reputation of the program in the eyes of financial planning professionals and the media alike. While additional consumer protections are admirable, do the numerous policy changes signal a turn for the better or worse?

man-holding-scaleA recent MarketWatch article “Could the tide be turning on reverse mortgages?” asks just such a question. Columnist Alicia Munnell opens with “after decades of skepticism and reports of scandals, the tide appears to be turning for reverse mortgages”. The New York Times Business section recently led with a story on the ‘revival of the reverse mortgage’.

While there may be a revival of the reverse mortgage in the consciousness of the mainstream media and in the minds of media pundits, our industry is not experiencing a revival but a retraction, as HECM endorsement volumes…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

The Lie of Busyness

Open-Mtg-2018-Join-Us

Are You Truly Busy or is it Something Else?

reverse mortgage newsIf we only had a dollar for every time we have said or heard “I’m just too busy”. I’m too busy to exercise, study, learn a new skill, etc. One could venture a guess the world would have quite a few more millionaires. The truth is being ‘too busy’ is one of the biggest lies we’ve been told.

Much of what we commonly confuse as busyness are actually repetitive activities that convince us that we are busy that do little to improve our performance. Our society glorifies the…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.

Aging in the Third Millenium

Making Friends with Age, As We Age




“How old would you be if you didn’t know how old you was?”

~ Satchel Paige

Who retires at 65? Far fewer people than just a couple of decades ago. According to the World Economic Forum, in 1994 a forth of American men aged 65-69 participated in the labor force. That figure had risen to 36 percent by 2014 — and is forecast to reach 40 percent by 2024.

reverse mortgage newsThe trend is similar for even older men, with 17 percent of those aged 75-79 expected to still be working in a decade, up from just ten percent in 1994.

“Clearly, these older people did not get the message that they were supposed to become old-age dependents when they turned 65,” states the Forum.

I know two 70+ entrepreneurs (one of whom is 76-year-old prosperity coach Joan Sotkin, just to even the gender playing field a bit), who are thriving in their global businesses, with no plans to retire. Veteran broadcast journalist Morley Safer said goodbye to 60 Minutes last month — at 84. After 46 years, the celebrated correspondent observed, “It’s been a good run”. Safer then said goodbye to life a few weeks later. Perhaps, for those of us who truly love what they do, retirement is a final farewell. There’s Ron Lehker, becoming a Reddit guru at 90. Many reverse mortgage professionals reading this blog are also well beyond traditional retirement age.

On one hand, this means the economic and health care “burden” of today’s retirees may be less onerous than projected.

Make New Friends, But Keep the Old

On the other hand, living longer, healthier lives also means adapting to change — and finding new friends.

Last month we looked at the importance of accepting change as a key to later life happiness. Losing friends as we grow older is a fact of life: they (or we) relocate, become busy with family, or in some cases, become ill and leave the Earth plane (any of which, of course, can happen at any age).

Making new friends is not something to be left for a rainy day. Being open to and seeking out new friendships throughout the life spectrum is vital. One enterprising Wall Street Journal reporter refers to this quest as “friend dating,” and suggests five steps to starting a friendship:

  • Mine existing friendships for “bridge” friends.
  • Expand your horizons: don’t just pursue people like you.
  • Release expectations; friendships develop over time.
  • Share who you are, and welcome the other person’s sharing. It’s a mutual dance of discovery.
  • Follow up! Just as with reverse mortgage prospects, the initial contact, or friend date, simply sets the stage. Keep connecting with people who seem like good potential new friends.

There was a point in my life where I counted among my friends at least one person in almost every decade of life: I had friends in their 20s, 30s, 40s, 50s, 70s, 80s and 90s. While this has shifted over time, I still love reaching out to those younger and older than I am, as well as to those nearer my own age. It’s refreshing to serve in a mentoring role, and to adopt elders as role models.

The Conscious Elders Network is one such organization of chronologically gifted adults who are joining hands, hearts and intention to help revitalize the planet. Working cross-generationally, the educational non-profit’s website states, “Our vision is to initiate a cultural shift wherein conscious elders reclaim our place in providing education, wisdom, and guidance within our communities. We have the benefits of time, talent, experience and know-how to guide making the needed transformations.” For anyone who’s interested, CEN is holding its annual conference in northern California in September.

It might be a wonderful opportunity to make new friends.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.

Were They Consulted?

[vimeo id=”169164801″ width=”625″ height=”352″]

Proposed HECM Rules Raise Questions of Industry Collaboration

collaborationIt’s no secret. For the last three years our industry has born the brunt of numerous changes to the Home Equity Conversion Mortgage program. Not only us, but senior homeowners applying for the loan. In the light of recent proposed rule changes one may be left with several lingering questions.

The latest round of proposed rule changes raises the question of consultation. In other words, were industry lenders and secondary market investors invited to the table before publishing proposed rule changes? The proposed adjustable rate caps warrant just such a question as secondary market players point out…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.

Closing the Gap

[vimeo id=”169165708″ width=”625″ height=”352″]

Open-Mtg-2018-Find-Place

Strategy is the needed bridge between dreams and reality

map

On this show, we have discussed how each of us can achieve our goals, increase our productivity and improve how we get things done each week. However, there is one missing ingredient needed to realize our dreams.

Every one of you watching has their personal and professional dreams. That is, the ultimate desired outcome you desire. The advantages of achieving your goals and dreams are numerous and may include:

  • You develop a new skill
  • New experiences reveal hidden character strengths
  • Your marketability as a sought-after professional
  • Your income increases
  • You will smile more

Stretching ourselves is uncomfortable…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.