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Independence Day

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Helping Seniors Claim Their Independence, Part 2

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Helping Seniors Claim Their IndependenceIt’s almost Independence Day, a much-loved holiday — no doubt because Americans are so fiercely proud of their independence, both personally and collectively. From the time we’re toddlers, we want to DIY. We respond with a resounding “No!” to parental requests (which continues into adulthood), eventually graduate from secondary school, and either go off to college or get a job. Finally we move into a home of our own and sigh with relief: we’re independent! We now have a mortgage to pay off, of course, but at least the bank isn’t quite as restrictive as mom or dad (so we assume).

But then we grow older, and as the need for assistance increases with age, independence again becomes a questionable commodity. As our national July 4th celebration approaches, it’s an opportune moment to discuss how seniors can maintain the independence they cherish, with a reverse mortgage.

How does a reverse mortgage help seniors claim their independence?

  • It allows them to remain in the home and community they may have lived in for decades, rather than move in with their children, which can lead to feeling like a burden or intrusion in their lives;
  • It provides a nest egg for future healthcare needs, because every penny is no longer tied to mortgage payments. A reverse mortgage may mean a smaller inheritance for their offspring, but most kids would agree that mom’s or dad’s needs come first! After all, it’s their house, and very likely the one in which they raised those same children;
  • It enables seniors to “age in place” with the use of community resources, such as in-home assistance ranging from companions to live-in home health aids to skilled nursing visits, and home modification, which can include something as simple as installing grab bars in the shower or a wheelchair ramp, to a more accessible kitchen remodel and stair lifts for hauling groceries, laundry — or people.

Home holds deep meaning for most of us, the more so as we grow older and endure losses due to retirement, death and distance. If we can assist qualified seniors to stay independent by remaining in their own home as long as practical through a reverse mortgage, we’re truly serving their needs.

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3 Comments

  1. I read this article by Amara Rose, and have read the majority of her articles. I belong to a professional coffee group that caters to Seniors needs. I do reverse mortgages, other members of the group do in home care, health care, helping with downsizing etc. etc. I requested reprints of three of Amara’s articles, including this one, to share with my coffee group. Amara Rose graciously send me the artilces that I can copy and give to members of the group. Thank you Amara, this is truly team spirit!!

  2. Joyce, you are very welcome! I’m honored and delighted to learn you find the posts useful — that’s the reason we created this blog, to help people who serve the senior community by providing positive aging information and resources.

    I hope your group finds the articles useful as well. They are also quite welcome to post comments, questions and ideas here.

    Blessings on your good work,
    Amara

  3. Few of us do not have the need to be independent. It is good to be reminded that HECMs have a history of helping so many seniors maintain their financial independence.


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