Advice from a very successful Reverse Mortgage Specialist:

A friend recommended I read the book Younger Next Year by Crowley and Lodge. The book is about navigating the last 1/3 of your life in health, strength, and purpose. One of the lines in the book asks if you are preparing to live or preparing to die in your retirement years.









"Are you preparing to live or preparing to die?"

Having worked with senior homeowners for the last several years, I have met both. Those with vision and purpose for the last 1/3 of their lives, find ways to fund their goals and dreams. Those who aren’t willing to live a reduced or diminished life in retirement, live longer and happier lives.

While others who accept that they can’t go here, or can’t do this or that live a life that seems to get smaller. They don’t go out, they do not have friends, and more importantly, they have no vision for the rest of their lives. In reality, they are existing and not living. They seem to be waiting for the end to come, and the sooner the better.

Honestly, the first group is much more enjoyable to work with. They are proactive when it comes to their finances, and most other things in life. They are willing to learn about new opportunities and have decided to live their life to the fullest. Often times they fund their lifestyle in retirement with a reverse mortgage.
So, which one are you? Are you preparing to live or to die in your retirement years? The choice is yours.

Source: The Retirement Years
Credit: Kevin A. Guttman, Reverse Mortgage Specialist

Go ahead. Pour yourself another cup of joe.
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“Studies have shown that coffee may have health benefits, including protecting against Parkinson’s disease, type 2 diabetes and liver disease, including liver cancer. Coffee also appears to improve cognitive function and decrease the risk of depression.”

There is a word of caution in the research. There could be some risks. If you drink too much unfiltered coffee (boiled or espresso), you may have mild elevations in cholesterol levels.

There is also a caution for an increase in the risk of heart disease in people with a fairly common, specific genetic mutation that slows the breakdown of caffeine in the body. How fast you metabolize coffee may affect your health risk. There’s always something to put a damper on things!!

Just a reminder…adding cream and sugar to your coffee adds fat and calories. And, sometimes it’s hundreds of calories!

This video from the Mayo Clinic tells you why! There is also important information concerning peanut allergies.
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One of the biggest silver linings to come out of the CODIV-19 event is the acceleration of access to online learning.

Here are a few of our favorite learning sites for older adults:

Senior Planet
There are thousands of classes to broaden your horizons on Senior Planet. They have designed courses specifically in mind for those over the age of 60, focused on five impact areas: social engagement, financial security, health and wellness, civic engagement and advocacy, and creativity.  The best part? Live classes are free for anyone to enroll!

GetSetUp
This online community connects users with others to learn new skills and unlock new life experiences. Their content is focused on adults over the age of 55, now reaching four million learners in over 160 countries. Classes range from fitness to healthcare, drawing, foreign language, cooking, music, business and more. They offer a free plan with limited access, or for $19.99 per month you can have access to their entire library and over 500 live interactive classes every week!

Full Sail University
Are you a tech-savvy person, interested in the world of entertainment, videography, media, gaming, visual arts and communications? Check out Full Sail University. It’s easy to fit in your course schedule with your existing life, because they offer 24/7 flexibility with your e-learning plan.

One Day University
Founded on the belief that “every day you learn something new is a good day,” One Day University has established a unique angle in the online learning space. You can listen to live-streamed talks, access hundreds of the “best-selected lectures” and participate in small group discussions with peers. There is a free limited-trial, but you will eventually have to pay $8.99 per month for access.

Academic Earth
Whether you are looking for a certificate, a bachelor’s degree, or even a doctorate, Academic Earth has the lessons to get you on your path to more knowledge. Explore more than 60 complete courses in art, business, engineering, humanities, medicine, science, math and more!
 
If you are just looking to dip your toe in the water with e-learning, YouTube is a great resource. You can also explore thousands of the free apps available for download to your phone, like Duolingo, PictureThis and Brainly.  

Source...

One of the biggest silver linings to come out of the COVID-19 pandemic is the acceleration of access to online learning. With the entire world forced indoors, universities, community colleges and internet-startups alike all had to adapt and construct new methods of e-learning.

Here are a few of our favorite online learning sites for older adults:

Senior Planet
There are thousands of classes to broaden your horizons on Senior Planet. They have designed courses specifically in mind for those over the age of 60, focused on five impact areas: social engagement, financial security, health and wellness, civic engagement and advocacy, and creativity. The best part? Live classes are free for anyone to enroll!

GetSetUp
This online community connects users with others to learn new skills and unlock new life experiences. Their content is focused on adults over the age of 55, now reaching four million learners in over 160 countries. Classes range from fitness to healthcare, drawing, foreign language, cooking, music, business and more. They offer a free plan with limited access, or for $19.99 per month you can have access to their entire library and over 500 live interactive classes every week!

Full Sail University
Are you a tech-savvy person, interested in the world of entertainment, videography, media, gaming, visual arts and communications? Check out Full Sail University. Full Sail focuses on creating real-world industry experience and creative problem solving with online degree programs. It’s easy to fit in your course schedule because they offer 24/7 flexibility with your e-learning plan.

One Day University
Founded on the belief that “every day you learn something new is a good day,” One Day University has established a unique angle in the online learning space. They have gathered a group of the most thoughtful and entertaining professors from the country’s most prestigious universities and asked them to provide their single most fascinating lecture. You can listen to live-streamed talks with these professors, access hundreds of these “best-selected lectures” and participate in small group discussions with peers. There is a free limited-trial, but you will eventually have to pay $8.99 per month for access.

Academic Earth
Whether you are looking for a certificate, a bachelor’s degree, or even a doctorate, Academic Earth has the lessons to get you on your path to more knowledge. They’ve been around since 2009, offering free online college courses from the world’s top universities. Explore more than 60 complete courses in art, business, engineering, humanities, medicine, science, math and more!
 
If you are just looking to dip your toe in the water with e-learning, YouTube is a good choice. You can also explore thousands of the free apps available for download to your phone, like Duolingo, PictureThis and Brainly.  

Source...

Your house, and what it contains, is a minefield in the eyes of your grown children. They can see from your example that collections of stuff are a curse; such objects are superfluous to a life well lived. They want a clean, clear field in which to live their lives. Your grown children will not agree to be the recipients of your downsizing if it means their up sizing.

The following list of the "Top Ten Objects Your Kids Do Not Want" (by author, Elizabeth Stewart)  was inspired by conversations with family as well as by similar conversations with hundreds of boomer clients and their millennial heirs. There is a remedy for dealing with each:

No. 10: Books

Unless your grown kids are professors, they don't want your books. There are a couple common mistakes my clients make in valuing books:

The 17th-century books are likely to be theological or grammar-based, and are not rare. The 19th-century books are probably not in good condition, and since most came in a series or set, it's unlikely you'll have a full (valuable) set.

Remedy: If you think the book is relatively common plug the title, author, year of publication, and publisher into a resource, such as Biblio.com. Once you have background information, call a book antiquarian.


No. 9: Paper Ephemera

Things like family snapshots, old greeting cards and postcards are called paper ephemera. Old photos are not worth anything unless the sitter is a celebrity or linked with an important historical event or the subject is extremely macabre, like a death memorial image. Old greeting cards are not valuable unless handmade by a famous artist or sent by Jackie O. Postcards are valued mainly for the stamps.

Remedy: Take all your family snapshots and have them made into digital files. The other option is to sell those old snapshots to greeting card publishers who use them on funny cards or give family photos to image archive businesses like Getty. If the archive is a not-for-profit, take the donation write-off.


No. 8: Steamer Trunks, Sewing Machines and Film Projectors

Trust me, every family has at least three steamer trunks from the 19th century. They are so abundant that they are not valuable, unless the maker is Louis Vuitton, Asprey, Goyard or some other famous luggage house. Likewise, every family has an old sewing machine. They are rarely valuable.

And every family has a projector for home movies. Thrift stores are full of these items, so, unless your family member was a professional and the item is top-notch, yours can go there as well.

Remedy: Donate this category and don't look back.


No. 7: Porcelain Figurine Collections and Bradford Exchange “Cabinet” Plates

These collections of frogs, chickens, bells, shoes, flowers, bees, trolls, ladies in big gowns, pirates, monks, figures on steins, dogs, horses, pigs, cars, babies, Hummel's, and Precious Moments are not desired by your grown children, grandchildren or any other relation. Even though they are filled with memories of those who gave them to your mom, they have no market value. And they do not fit into the Zen-like tranquil aesthetic of a 20- or 30-something's home.

Remedy: Find a retirement home that does a gift exchange at Christmas and donate the figurines. If you want to hold on to a memory of your mom's collection, have a professional photographer set them up, light them well and make a framed photo for your wall. Collector's plates will not sell anywhere to anyone. Donate these to a retirement village as well or to anyone who will take them.


No. 6: Silver-Plated Objects

Your grown children will not polish silver-plate, this I can guarantee. If you give them covered casserole dishes, meat platters, candy dishes, serving bowls, tea services, gravy boats, butter dishes and candelabra, you will be persona-non-grata. They might polish sterling silver flatware and objects, but they won't polish the silver-plated items your mom entertained with. The exception may be silver-plated items from Cristofle, Tiffany, Cartier, Asprey, and other manufacturers of note.

Remedy: None. Give it away to any place or person who will take it.


No. 5: Heavy, Dark, Antique Furniture

There is still a market for this sort of furniture, and that market, in the fashionable areas of the U.S., is most often the secondhand shop. You'll receive less than a quarter of purchase price if you sell on consignment in one. Unless your furniture is mid-century modern, there's a good chance you will have to pay someone to take it off your hands.

Remedy: Donate it and take a non-cash charitable contribution using fair market valuation. Use reporting services such as P4A.com to find where this class of furniture sells.


No. 4: Persian Rugs

The modern tranquility aimed for in the décor of the 20- to 30-somethings does not lend itself to a collection of multicolored (and sometimes threadbare) Persian rugs.

Remedy: The high-end market is still collecting in certain parts of the U.S. (think Martha's Vineyard), but unless the rug is rare, it is one of the hardest things to sell these days. If you think the value of the rug is below $2,000, it will be a hard sell. Like antique furniture, it may be best to donate.


No. 3: Linens

Go ahead, offer to send your daughter five boxes of hand-embroidered pillowcases, guest towels, napkins, and table linens. She might not even own an iron or ironing board, and she definitely doesn't set that kind of table.

Remedy: Source those needlewomen who make handmade Christening clothes, wedding dresses, and quinceañera gowns. Also, often you can donate linens to costume shops of theaters and deduct the donation. A site like P4a.com has auction results to establish the fair market value of such objects.


No. 2: Sterling Silver Flatware and Crystal Wine Services

Unless the scrap value for silver is high enough for a meltdown, matching sets of sterling flatware are hard to sell because they rarely go for "antique" value. Formal entertaining is not a priority these days. And of course, sterling must be hand-washed and dried. Can you see your kids choosing to use the silver? Same goes for crystal.

Remedy: Sites like Replacements.com offer matching services for folks who DO enjoy silver flatware and have recognized patterns. Because they sell per piece, and therefore buy per piece, sellers get a rather good price. Sell your whole silver service; it will be "pieced out."
Unless your crystal is Lalique, Moser, Steuben, Baccarat or another great name, you will not be able to sell your "nice set." Give "unknown maker" sets away, fast.


No. 1: Fine Porcelain Dinnerware

Your grown children may not want to store four sets of fancy porcelain dinnerware, and frankly don't see the glory in unpacking it once a year for a holiday or event.

Just remember: your grown kids and grown grand kids DO NOT want and will NEVER want five or more fine china services. They don't even want one. They do not see the logic.

Remedy: Like silverware, china is something to consider for sale to a replacement matching service like Replacements.com. Know your pattern to get a quote from one. Because such replacement companies buy per piece, the aggregate of the selling price is always more than a bulk sale at a consignment store, which might be your only other option.

For more info on the topic of Downsizing, Click Here.