Are You Planning the Rest of Your Life?


Are You Planning the
Rest of Your Life?

There were three reasons which led to this story. The first one was an obituary article in the local paper. My wife Elfa read it because the story was about a man who outlived his wife by three days after being married for seventy years. The other story was a dedication to a friend who died at the age of sixty, of lung cancer, about which I read in the book “Create Your Best Legacy” written by Michelle Lerman (I strongly recommend the book and Ms. Lerman’s Services). The third one was an article titled “Life Expectancy Ticks Up Slightly for First Time in 4 Years“ written by Janet Adamy, which appeared in The Wall Street Journal on January 31, 2020. The article stated that “Women are expected to live five years longer than men, to the ages of 81.2 and 76.2 respectively, according to the 2018 figures.” Since I just celebrated my 73rd birthday, it means that I only have (statistically) three years to be around. This math cannot be right. Recently I read in the Torah that the patriarch Jacob lived until the age of 147. According to this math, I am in the middle of my life. This makes perfect sense, since I still have so many things to accomplish while being alive. For starters, I still have to publish forty books in the “42 Encounters” series, which will take me to the age of 112, and then I will have 35 years to sell those books (just kidding). Of course, there are other things I will have to do while I am still around, like helping my clients find mortgage solutions, to better their lives. Well, all of this might not be significant for you, but at least I have the reason why and a plan to stick around. Do you?

In my life and because of my occupation, I meet a lot of people. Most live day to day without giving much thought about tomorrow. If some are lucky to reach retirement age, many have no plan what to do or how to support themselves. This is probably the main reason why those who have equity in properties apply for reverse mortgages, in order to get rid of their monthly payments. But often this is not enough, or even possible.

I met a new client recently. At the age of 67, she was fired from her job after forty years in the same medical occupation. My original inclination was to help her get a reverse mortgage. However, after we talked, I realized that getting rid of her mortgage payments was only a partial solution. I was fortunate to be able to help her to find a part-time job at an attorney’s office. Now she is considering learning how to become a paralegal. Meanwhile, in addition to her work, she is going to be busy and enjoy her life practicing yoga, making jewelry and spending time with her friends and family until at least the age of 81 (statistically speaking). As far as her mortgage is concerned, I was able to refinance her loan, combining and paying off her debts and lowering her payments by almost $1,000.00 a month. Not everyone is so lucky, but all have a choice to plan the rest of their lives.

P.S. These images show four people, who seem happy to have reached their retirement age.

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