Keeping the Legacy Alive
Your reverse mortgage clients and prospects have made many transitions throughout their lives, and chances are, most of them were well thought out and planned in advance: the cross-country move, the jump to a better job, or the decision to scale back and devote more time to family or volunteering. But the vast majority of people don’t want to face the transition that eventually comes to us all: dying.
Author Norman Cousins said, “Death is not the greatest loss in life. The greatest loss is what dies inside us while we live.”
Many people fear dying so greatly that they never express their true talents and gifts while they’re here, agrees transition planning expert Jack Beauregard. Living with significance “transcends this fear by ensuring that the fruits of your talents and gifts are used for the betterment of the lives of others.” Beauregard suggests elders can live (and die) significantly by:
- Realizing how valuable and rare you really are
- Utilizing your authentic talents, skills and capabilities
- Expressing your distinctive individuality, your uniqueness, your originality
- Living your vision
- Accomplishing your life’s mission and purpose
- Doing what you are passionate about
- Singing the song that is inside of you
- Bequeathing money and other valuables
He recommends crafting a “Wisdom Life Document” that leaves a legacy for your family, friends and community, sharing the stories and teachings that contributed to your growth in life. It’s also a wonderful way to preserve the wisdom of ancestors for future generations. Some technologically attuned seniors may even be inspired to record a video or mp3 of their stories.
In this ripe moment when the entire product landscape of HECM is shifting to potentially become something of a Prius in the reverse mortgage field (i.e., a “hybrid” for retirees), it might be an ideal time to expand the concept of transition and change, engage seniors in a discussion of their future plans, and encourage them to consider some of these creative ways to explore the legacy they wish to leave behind.