Collaborate
I believe that no one makes it in this world alone. We all stand on the shoulders of others and sometimes have to go forward shoulder to shoulder in order to succeed. I feel an obligation to work with trusted advisors to help them to do the best job possible for their clients. Sometimes this includes considering a reverse mortgage as a source of liquidity for the estate or retirement planning. It can be proactive, at the start of a client’s retirement years, where we see how tapping into the illiquid wealth of one’s home can be a great way to balance a good budget and maintain a high quality of life. Or it can be reactive, where something has happened to derail a client’s retirement plan and now we need to see if a reverse mortgage can fix it. Either way, my role is to be a trusted advisor for the advisor, for their clients and their families.
Educate
I taught history and English in schools for five years and truly loved it. When I was able to use facts to convey an idea to a student that explained or modified a belief they had, it was very fulfilling. Honest conversation truly does shine a light on misunderstandings and erroneous beliefs. I feel that same way about sharing what I know about reverse mortgages with homeowners, their families and trust advisors. There are misconceptions about these plans and historical reasons why people have them. Once we can address those erroneous beliefs, we can use the facts to craft a custom program; working together we will solve current or future financial concerns. However, it all begins with trust and listening and teamwork.
Problem Solve
We all want to feel the way we want to feel. Usually we want a good happy secure feeling and peace of mind. For most of us, nothing makes us feel better than knowing that we have financial security. So usually that is the problem that I am asked to see if I can solve using a broad array of different reverse mortgage and reverse financial product solutions.
I view trusted advisors as “financial physicians''. Their profession is to assess the difference between what a client has and what he wants or needs. They use questions to assess if a client has a “fever”. Then using tools, such as 401k, Insurance policies, Roth conversions, brokerage accounts, reverse mortgages, et al, they figure out the best way to write a prescription that will end the “fever” of being moneyless, insolvent, open to lawsuits or just plain cash-strapped. Once the medicine is administered, their client can sing, Hey, 98.6, it’s good to have you back again!
I view trusted advisors as “financial physicians''. Their profession is to assess the difference between what a client has and what he wants or needs. They use questions to assess if a client has a “fever”. Then using tools, such as 401k, Insurance policies, Roth conversions, brokerage accounts, reverse mortgages, et al, they figure out the best way to write a prescription that will end the “fever” of being moneyless, insolvent, open to lawsuits or just plain cash-strapped. Once the medicine is administered, their client can sing, Hey, 98.6, it’s good to have you back again!