WEBVTT
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Welcome to Reverse Mortgage and Beyond, the podcast where we take you inside the world of reverse mortgages.
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I'm Cheryl Schidel and I have been in the mortgage industry since 2002 and have specialized in reverse mortgages for the past 10 years.
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We'll cover topics like reverse mortgage basics, purchasing a home, and the myths about reverse.
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You'll also hear from some trusted referral partners.
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Let's get started.
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Welcome everyone to reverse mortgage and beyond.
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I'm Cheryl Schidel with Barrett Financial Group.
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And today I just want to share with you.
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Normally I talk about reverse mortgages, the reverse basics, the myths about reverse, and then how to purchase a home.
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But from time to time, I like to bring in special guests.
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And so I've uh welcomed Nicole Porter from Your Parent Portal Porter into today.
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And we're going to talk about how she helps seniors be proactive and um what we can do to help them along so that way they're not in chaos later with their hair on fire.
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So, Nicole, do you want to go ahead and give us your background and how everything got started for you with your business?
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Thank you so much.
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Yeah.
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Thank you for having me on here.
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You know, my background's real estate, and we've always been taught that the reverse mortgage is just not the thing for our clients.
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But you've made me see a whole new perspective because we connected after I started my new business called Your Parent Porter.
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Yes.
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And how this came about was I see in the real estate world that things happen to parents and kids don't know what to do with the houses.
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And then I, my own personal experience, lost both my parents.
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And we were just not prepared the way I kind of I guess I just hadn't even thought about the things that were going to happen as they age.
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My parents were in their 60s, they were healthy, and we weren't quite worried about them yet.
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I was home a week before my dad passed, um unexpectedly.
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And I was like, you know, dad, do we know what to do if something happens to you?
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And he's like, Oh, we just finished our will.
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It's in there on the table.
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You want to read it?
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And like any other adult child, I'm like, nah, no, no, no.
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I don't want to hear anything about it.
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Just asking.
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Yes.
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And we want to keep the relationship good right now.
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Right.
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You know, I don't want to think about my parents dying.
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You know, this is crazy.
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And my brother's like, well, dad wants to be cremated, mom wants a service.
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And I'm like, okay, cool.
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I'm glad somebody knows the wishes because we've never talked about this.
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I'm in my 40s.
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We've never talked about it.
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My parents were in their 60s.
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Um yeah.
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So a week later, my dad had a standard procedure and made it through surgery fine.
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And that night they think he had a blood clot and a heart attack and passed.
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And my mom had been diagnosed with non-alcoholic fatty liver.
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She'd been unhealthy for many years.
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And um, after my dad passed, she just sh downhill and passed exactly a year after him.
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Oh my gosh.
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And she was a collector of things.
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So every summer I would go home and I would be like, Ma, we've got to throw this stuff away.
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Like, we don't want this stuff.
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You know, we're gonna pull a dumpster up when you die and throw it all away.
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You guys are jerks.
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Why would you say that to me?
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You know?
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And I had to do it.
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And it was just overwhelming.
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Like, I won't even go into like all of the things because that's a whole nother episode of like being an adult child dealing with your losing your parents.
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But I saw a need.
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I saw that we were not prepared and I knew there's other midlife adult children that are not prepared or haven't had the conversations with their parents.
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So your parent porter was started.
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You know, I lived out of state.
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Um, my pam family's in Michigan, I'm in Arizona, and you know, like I said, I hear it all the time in the real estate world here.
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The kids live on the East Coast or, you know, wherever, and the parents are out here alone.
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Nobody's checking in on them.
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We go home once a year to like hang with our parents, and that's when we ask the questions, you know, where do we know what to do?
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Even if you even ask the questions.
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Yeah, kids put the blinders on, right?
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Absolutely.
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You know, and who wants to go home at Christmas time and be like, hey, mom and dad, what do you want to do when you die?
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Right.
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You know, like it doesn't, it doesn't go off well.
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So I was like, I need to help all these other healthy adults because they are.
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My parents didn't need help.
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They didn't need caretakers.
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Um, they were not at that point in their life.
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And I was like, why is nobody helping the healthy ones?
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Like, just get things in order.
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They won't listen to their kids.
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So what if I'm an unbiased third party that goes into people's homes and helps them proactively age in their house?
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Because here in Arizona, our, you know, our real estate has just gone crazy over the last few years.
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And people have a ton of equity in their homes.
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And they're even if they sell to downsize, they're still gonna spend all their money to downsize because what now they have 500K in equity in their house, um, and then to downsize to a 1300 square foot house in Scottsdale isn't gonna cost you 800K.
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Right.
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So you're not making a great move.
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It doesn't make sense for the parents to move all the time.
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And I know I'm that I'm saying it.
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I'm a real estate agent that like does not want people to sell their houses because there's nowhere to go in this city.
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Well, and you know, I don't know if this might be a good lead for you, but I actually went on a ride along with the fire department and they talk about how the alarms are going off in the middle of the night or the batteries that the that they need to change the batteries, and it's going off in the middle of the night.
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So they're calling the fire department because they need someone to change the battery for them.
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So maybe that might be a good lead source where you have to work with the fire department to be proactive to, you know, because they can't get on ladders.
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Right.
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And we don't want them getting on ladders at two o'clock in the morning to change the batteries, and maybe they can't reach it or do it or whatever the case.
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So these could be people that you know you might be able to find leads from to assist those people.
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Absolutely.
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So I've definitely heard of the fire department.
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The fire department actually does free home assessments on safety.
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Um, so my home, I did call my um my assessment a safe home assessment.
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Right.
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But it is an acronym for other things because there's more than just the risk factors of the house.
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How is the parent living?
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What's the lifestyle like?
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Um, how's their environment?
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Because your environment is more than just your house, you know, it's the neighborhood, it's um your community, it's all of the things.
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So my safe home assessment is um S stands for surroundings.
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Like what is everything around the house look like?
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You know, are they living in clutter?
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Are they hoarding or maybe they're super clean?
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You know, that's totally fine, but just that's the S part of it.
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Um, A is awareness.
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Like, how alert are they?
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Do they seem like they have some cognitive issues or weight management issues?
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Like, what kind of lifestyle are they living?
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So that's just kind of the A piece of it.
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Um, F is functions and fixes.
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Um, when I took over my parents' house, like as a realtor, I was I had to sell a house.
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And now I'm like, oh man, when did dad do the roof last?
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When was the AC replaced?
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Right.
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When was this done?
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When and I'm like, okay, so functions and fixes has got to be a part of my assessment because people just need a budget for those big items that you know can come up.
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Well, and that's where the reverse mortgage could come in because you know, we work with a lot of different um referral partners.
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And like I just did a reverse mortgage for somebody.
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She's like, I need a new roof.
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So the reverse mortgage can pay for the roof, it could pay for Nicole's services, it could pay for in-home health care.
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So these are great things that this is why we partner up because we can help each other.
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But go ahead.
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Yeah.
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So that's the F part, the functions and fixes.
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And, you know, maybe the reverse mortgage is the way for them to pay and finance that.
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Um, and then ease extended independence.
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What can we do proactively to extend their independence in the house?
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Like, what are the different aspects?
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Um, is it just are there trip hazards?
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Do they need to renovate a bathroom?
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I've been trying to get rid of a rug in my mom's house.
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I'm like, and they shuffle.
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They shuffle.
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And then my namesake, her husband just fell a little while ago from a rug.
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Yeah.
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And I'm like, oh, we need to reevaluate these rugs.
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They're fine.
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I'm like, okay.
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That is like one of the number one.
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I think goodness break anything.
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Yeah.
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It's the bathrooms and then the rugs, I think, are the two biggest trip hazards in any adult's home.
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Um bathrooms because you know, putting grab bars in, is that what you're talking about?
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Yeah.
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I mean, what kind of do they have to step into a bathtub to take a shower?
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Do they what um the slip?
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Drawing a blank.
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I'm drawing a blank.
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The slip.
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But just yeah, the slip.
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There's there's slips, there's falls, um, there's glass.
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I was in one gentleman's house and he had a glass countertop with raised glass bowl sinks and no cabinetry underneath and a big walk-in shower with a big glass wall.
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Oh my gosh.
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And he had to walk through his shower to use the toilet because the toilet room, whoever designed this bathroom is just crazy.
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They put the toilet room inside the walk-in shower.
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So this almost 80-year-old man is using this bathroom, and I'm just like cringing, going, Oh my gosh.
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And he's still, he's still healthy.
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He's like, I've been here for 30 years.
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I'm fine.
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I'm like, I understand that, but an accident's an accident for a reason.
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I'm just wondering when what year that house was built.
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Oh my goodness.
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Well, he's owned the house for 30 years.
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It was built in the 70s, you know, and I get it.
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I that's the problem with us as we age is we're like, we've been doing this, we've been doing this, but they don't talk about the house needs to age with you as well.
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I mean, when you're starting a family, when you're when you're a kid, you know, when you're in your 20s and or 30s or whatever you buy your first home, you know, you can still do stairs, you can still do some of the things.
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And then when you expand your family, you have to get a bigger home with more bedrooms.
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And then the kids leave and some people downsize at that point, you know, which is smart.
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I think what is it?
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Um, the average person moves seven times in their life.
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I think that's the number.
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Um, but I mean, a lot of people don't like to leave their homes, I get it.
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But now you're at that stage in your life where you need to make your home more safe and do it proactively because it's super expensive.
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Um, if you go to the hospital for a fall, then they won't let you go home until your house is accessible.
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Like if you have a wheelchair or crutches or a walker, um, a lot of occupational therapists have to go into the home and you know, that gets they assess the home and will not let you, they will not release you from the hospital until your home is accessible.
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Well, and you know what?
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I had somebody who was in acute care and they sent her home and the niece did not want her living there anymore.
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They wanted to sell and all that stuff.
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But the the patient, the client wanted to stay in her home.
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And I had gone over there a couple of times, and I got the call that the niece said that they were selling because the last thing that happened was the patient or client fell.
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Her lazy boy um, the foot part was out, her arm got stuck in between.
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So, so thank goodness she had her phone on or one of those push-button things, so those alert things, but her arm got caught in there.
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She was there for hours.
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Oh my gosh.
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Fire department the neighbor came to check on her and they came in.
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Fire department had to break apart the lazy boy and all the stuff, and then that was the final straw.
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Oh my god because she fell.
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Right.
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But but you know, some I mean, we want our seniors to age in place, but sometimes it doesn't make sense for them to do.
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But I mean, there are options for them to be proactive.
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Like maybe they are getting furniture that's more accessible that will help lift them up and out.
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Right.
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So they're not getting stuck in the low furniture because they've held on to it for 30 years.
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Well, and yeah, and those ones now that they have that I got my mom one because she was in a car accident and we need to elevate her legs.
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But we got one of those lifting chairs that's automated, but it doesn't have that hole between the chair and like I'm talking about, to where someone could get their arms stuffed.
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I love those as a kid.
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You can like crawl in between dad's legs and the the footstool and all the things.
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But for safety, they don't have that hole there to where somebody could hurt themselves or whatever.
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So Right.
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So what are some of the silent warning signs?
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Or have I mean what what what can you speak to on that?
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Well, I mean, even like with um as we age, you know, our eyes get worse, you know.
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So sometimes people just need better lighting in their house.
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Um maybe there's not something wrong with them, you know, but it's just their eyesight.
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Like you need different kinds of lighting, different um lumens, and there's a whole science to that I'm learning.
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Like to warm lighting and cool lighting, even um, warm lighting, cool lighting.
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So your lens is yellow as you get a as you age, and you can't see blue as well.
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So that's why you see a lot of things are that are more warm colors, reds and oranges and yellows and things.
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Um, your aging eyes can see those colors much better than cool colors.
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Okay.
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And patterns, you know, kind of mess with your vision as well.
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So, you know, going in the home is is there good hallway lighting?
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Is there good overhead lighting?
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Um, it changes as you age.
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Well, and I can't tell you how many times I've gone into somebody's house and they have these, this very this dim lighting.
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And I was just at somebody's house the other night, and it's the norm for them because I was just, and then they were trying to show me some paperwork.
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I'm like, can we turn on some lights?
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You know, I'm just like, what the heck?
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You know, but it was interesting.
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Right.
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But I think that's why I'm just unbiased third party to come in here and kind of point these things out because the older people are just making do, you know, they don't recognize the small things, the small changes.
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Um, but it is these small changes that can lead to really big problems.
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So that's why I started this business, is because I want to go in and like kind of point some of these little things out.
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They're still healthy enough to make decisions.
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Okay.
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And taking the keys away, right?
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You could be the third party to help someone.
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I have to take a class on that.
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Get take the keys away from the parents.
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Because when their eyesight's going, immaculate degeneration or whatever, and they're having problems seeing their periphery, all the stuff, because I don't know what the DMV, if there is like an age report, the doctor is probably a better person to do that than I am.
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Of course, of course.
00:14:02.000 --> 00:14:05.600
But I could be that person that like comes in once a month and I was like, hey.
00:14:05.919 --> 00:14:14.799
Well, no, I've heard of a patient who it said in their doctor's notes, eye doctor's notes, legally cannot drive anymore, but they're still driving.
00:14:15.120 --> 00:14:15.919
So who, yeah.
00:14:16.240 --> 00:14:17.679
I'm not really sure who's enforcing that.
00:14:17.919 --> 00:14:20.799
But now that that's parents don't always tell their kids those things either.
00:14:20.879 --> 00:14:23.840
So I mean that's but then now that's in their record.
00:14:23.919 --> 00:14:25.919
If something happens, God forbid, right?
00:14:26.080 --> 00:14:27.279
They're really responsible.
00:14:27.519 --> 00:14:27.679
Right.
00:14:27.919 --> 00:14:28.399
You know what I mean?
00:14:28.480 --> 00:14:34.399
So I just put that on my checklist of my home assessment of like when I'm asking about their independence, like, hey, are you still driving?
00:14:34.559 --> 00:14:35.200
What does that look like?
00:14:35.360 --> 00:14:37.120
When's the last time you had your eye appointments?
00:14:37.200 --> 00:14:37.440
You know?
00:14:37.600 --> 00:14:37.759
Yeah.
00:14:37.840 --> 00:14:39.440
Um, and I'm a non-medical service.
00:14:39.519 --> 00:14:43.840
So I think that's where people have been getting me confused in the senior industry is because I'm not a caretaker.
00:14:43.919 --> 00:14:49.759
I'm trying to help the healthy adults take proactive action on their health in their home so they can live there longer.
00:14:50.080 --> 00:14:55.679
So you're really, you want to reach out and your referrals would be primarily the adult children.
00:14:55.919 --> 00:15:00.320
Adult children that have parents in their 60s, 70s, and 80s or 70s and 80s.
00:15:01.440 --> 00:15:02.399
And your parents don't listen to you.
00:15:02.639 --> 00:15:03.519
Or you live out of state.
00:15:03.759 --> 00:15:04.720
Or you live out of state.
00:15:04.879 --> 00:15:05.039
Okay.
00:15:05.279 --> 00:15:06.480
That would be like my ideal client.
00:15:06.559 --> 00:15:10.799
But I do, since the adults are here, you know, I do want to educate more seniors.
00:15:10.879 --> 00:15:20.960
And, you know, that's why you and I have partnered up because we want to educate them more on their homes and you can talk to them more about the home equity and how they can make these these changes and improvements to their home and their lifestyle.
00:15:21.120 --> 00:15:27.120
And I think that's where you and I really need to um educate and encourage more um adults to take proactive action.
00:15:27.360 --> 00:15:27.519
Right.
00:15:27.600 --> 00:15:31.279
So, what are some of the myths that you've come across with the adult children?
00:15:32.000 --> 00:15:34.399
Well, all the parents are, I'm fine.
00:15:34.480 --> 00:15:34.799
I'm fine.
00:15:34.960 --> 00:15:39.279
I mean, I've been, I started this business like six months ago, and you know, everyone, I'm fine.
00:15:39.440 --> 00:15:40.320
That's a great idea.
00:15:40.480 --> 00:15:43.120
Your business is awesome and it's a great idea, but I'm fine.
00:15:43.519 --> 00:15:43.840
I'm fine.
00:15:44.080 --> 00:15:49.919
So I mean, I think that's my biggest, my biggest challenge overcoming and starting, you know, a new concept, a new idea.
00:15:50.000 --> 00:15:51.840
Um, because most people are in reactive mode.
00:15:51.919 --> 00:15:57.519
They wait for the trauma, they wait for a diagnosis, they wait for a decline, and then it's too late.
00:15:57.840 --> 00:16:04.960
So, what's a story you can share where a small change made a huge difference for somebody's safety and independence or peace of mind?
00:16:05.279 --> 00:16:05.519
Yeah.
00:16:05.600 --> 00:16:07.919
I mean, I think just getting the rugs out of the way.
00:16:08.240 --> 00:16:14.639
You know, I was in this gentleman's house and you know, I'm like, he saved all the extra pieces of carpet when he had his carpet fixed, you know.
00:16:14.799 --> 00:16:20.480
And I'm like, please, just any if you do anything for me, just will you just please well, I don't want to wear it on the floor.
00:16:20.639 --> 00:16:21.919
You are not gonna wear it on the floor.
00:16:22.080 --> 00:16:22.240
Yeah.
00:16:22.399 --> 00:16:26.720
You are and what about do you run into the people that still have the plastics going down the hallway?
00:16:27.120 --> 00:16:28.159
That remember that back in the day.
00:16:28.320 --> 00:16:29.120
Oh my gosh, I haven't seen that.
00:16:29.279 --> 00:16:32.080
So they would save carpet, but that's a trip has been a little bit of a few.
00:16:32.240 --> 00:16:34.320
Well, carpet carpet in general is just not good.
00:16:34.639 --> 00:16:34.960
Right.
00:16:35.200 --> 00:16:45.440
Um because it is depending on you know the padding and people shuffling and all the things, like carpet is just probably your least likely um flooring.
00:16:45.600 --> 00:16:48.639
Yeah, it's it's an enemy at this point in your life.
00:16:49.360 --> 00:16:57.519
So if someone listening feels that nudge, but they're been proc they've been procrastinating, what's the first simple step they should take today?
00:16:58.159 --> 00:16:59.759
Well, they can definitely contact me.
00:16:59.919 --> 00:17:02.480
Um, I have a free safe home assessment.
00:17:02.639 --> 00:17:15.279
I can give you kind of a checklist so that you can go over some things with your parents and when you're home for the holidays or, you know, visiting for spring break or whatever you're doing here in Arizona, um, or anywhere really.
00:17:15.359 --> 00:17:20.319
Um, I have a safe home checklist that you can, you know, start to go over and talk to your parents about some of these things.
00:17:20.400 --> 00:17:23.839
And just so you have some peace of mind and know what to do if there's an emergency.
00:17:24.160 --> 00:17:31.119
Well, then you're gonna be also that that way you'll also see other areas and then you've got referral partners that you can refer them to as well.
00:17:31.359 --> 00:17:31.920
Oh, absolutely.
00:17:32.000 --> 00:17:35.279
I mean, I'm obviously don't have tools in my car.
00:17:35.359 --> 00:17:37.920
I'm not like um renovating houses or anything.
00:17:38.160 --> 00:17:53.839
So I mean, like I said, my service is I have a ton of partners that I work with, you know, whether it's you um helping them finance the projects that need to be done in the house or working with partners that are aging in place certified, like I am, um, that actually do the renovations or add the grab bars.
00:17:54.079 --> 00:18:04.480
Um, also, um, you know, people that are into wellness, you know, sometimes people just need, maybe they just need a little bit more activity in their life.
00:18:04.640 --> 00:18:06.400
You know, they're lonely sitting at home.
00:18:06.480 --> 00:18:13.200
And I was like, you know, I can advise like get in community, join a gym, or we can find private instructors for them.
00:18:13.599 --> 00:18:16.480
Um, you know, just to try to get them moving more.
00:18:16.559 --> 00:18:19.599
So they're not just sitting there aging and declining.
00:18:19.680 --> 00:18:22.720
And, you know, we want our parents to live a longer, healthier life.
00:18:22.799 --> 00:18:26.799
I mean, and I think all older people, you know, no one wants to admit that they're aging.
00:18:26.880 --> 00:18:27.039
Right.
00:18:27.200 --> 00:18:28.480
Um, and I try not to say senior.
00:18:28.559 --> 00:18:32.720
I say I try to say older adults because, you know, everybody What about mature adults?
00:18:32.880 --> 00:18:33.680
Do they like that or not?
00:18:34.000 --> 00:18:35.119
No, I mean I don't like it.
00:18:35.279 --> 00:18:36.240
I don't want to be mature.
00:18:36.720 --> 00:18:38.079
Like that's that means I'm old.
00:18:38.799 --> 00:18:40.240
If I'm mature, I'm old, you know.
00:18:40.559 --> 00:18:43.119
She's 81 and she's like, you know, those old people.
00:18:43.200 --> 00:18:44.400
And I'm like, yeah, okay.
00:18:45.200 --> 00:18:46.720
I've heard and I've heard that a lot too.
00:18:46.799 --> 00:18:48.240
Uh that old lady down the street.
00:18:48.400 --> 00:18:50.240
My friend's mom said that to me the other day.
00:18:50.319 --> 00:18:53.759
You know, they live out in Sun City and she's like, I'm too young to live here.
00:18:53.839 --> 00:18:54.640
And she's 81.
00:18:54.720 --> 00:18:54.880
Okay.
00:18:55.039 --> 00:18:57.759
And she's like, all those old ladies down the street, I don't like them.
00:18:57.839 --> 00:18:58.400
They're not my friends.
00:18:58.559 --> 00:18:59.839
I had a they don't go to concerts.
00:18:59.920 --> 00:19:00.799
I want to go to concerts.
00:19:00.880 --> 00:19:04.799
And I was just like, all right, well, um uh we can find you a new neighborhood to live in.
00:19:04.960 --> 00:19:06.960
Like I I am still a licensed realtor.
00:19:07.200 --> 00:19:08.319
We can still find you a new house.
00:19:08.559 --> 00:19:13.440
Well, and I just sit alone for an 85-year-old because she she came to me from the radio station.
00:19:13.599 --> 00:19:18.960
I have a radio show, and she came to me 85 because she wants to travel.
00:19:19.119 --> 00:19:23.359
So we just closed on her loan and she's going on a cruise next week.
00:19:23.519 --> 00:19:23.920
That's right.
00:19:24.079 --> 00:19:28.640
And so, and she contacted me for a reverse mortgage so she could travel for herself.
00:19:28.799 --> 00:19:32.880
But that's also good for grandparents to take their kids or grandkids on travel.
00:19:33.359 --> 00:19:35.359
Um, so how do people get a hold of you?
00:19:35.440 --> 00:19:37.519
We'll put in the show notes, but how do they get a hold of you?
00:19:37.759 --> 00:19:41.279
Yes, my name's Nicole Porter, and my business is your parent porter.
00:19:41.680 --> 00:19:47.759
Um, I'm on YouTube, I'm on Instagram, I'm everywhere, and it's all your parent, your parent porter.
00:19:47.920 --> 00:19:49.519
My last name's Porter, P-O-R-T-E R.
00:19:49.920 --> 00:19:50.000
Okay.
00:19:50.799 --> 00:19:51.119
Yeah.
00:19:51.359 --> 00:19:56.559
Okay, so that's the best way to reach you by phone or email also or just email, social media.
00:19:56.880 --> 00:19:57.440
Okay, perfect.
00:19:57.599 --> 00:19:58.319
Okay, perfect.
00:19:58.480 --> 00:19:59.200
All right, Nicole.
00:19:59.279 --> 00:20:07.359
So thank you so much for joining us today um and sharing your expertise for this incredible work for families through your parent porter.
00:20:07.680 --> 00:20:08.000
Porter.
00:20:08.400 --> 00:20:10.319
I don't know why that's a tongue twister for me.
00:20:10.720 --> 00:20:11.839
Parent porter.
00:20:12.559 --> 00:20:12.880
I got it.
00:20:13.119 --> 00:20:14.400
My last name is Porter.
00:20:14.799 --> 00:20:15.039
Yes.
00:20:15.359 --> 00:20:15.759
Got it.
00:20:15.839 --> 00:20:16.960
It's just a tongue twister for me.
00:20:17.119 --> 00:20:17.759
I don't know why.
00:20:18.000 --> 00:20:26.400
But anyway, so to learn more, you know, contact us through the show notes and um you can visit my website, Reverse Mortgage and Beyond.
00:20:26.559 --> 00:20:35.119
I'm Cheryl Scheidel with Barrett Financial, and you can reach me for your reverse mortgage scenarios at 480-817-4324.
00:20:35.279 --> 00:20:37.279
Until next time, thank you so much.
00:20:37.839 --> 00:20:44.400
Again, this is Cheryl Scheidel, NMLS number 886425 with Barrett Financial, an Equal Housing Lender.
00:20:44.720 --> 00:20:52.240
Please remember that loan programs, rates, and eligibility guidelines are subject to change and may vary based on individual circumstances.
00:20:52.480 --> 00:20:56.559
Nothing discussed in this episode constitutes a loan offer or credit decision.
00:20:56.720 --> 00:21:00.960
Any examples or scenarios shared are strictly for illustrative purposes.
00:21:01.119 --> 00:21:05.039
All loans are subject to credit approval and underwriting conditions.
00:00:00.320 --> 00:00:05.440
Welcome to Reverse Mortgage and Beyond, the podcast where we take you inside the world of reverse mortgages.
00:00:05.519 --> 00:00:12.880
I'm Cheryl Schidel and I have been in the mortgage industry since 2002 and have specialized in reverse mortgages for the past 10 years.
00:00:13.119 --> 00:00:18.480
We'll cover topics like reverse mortgage basics, purchasing a home, and the myths about reverse.
00:00:18.640 --> 00:00:21.679
You'll also hear from some trusted referral partners.
00:00:21.839 --> 00:00:23.519
Let's get started.
00:00:24.800 --> 00:00:27.839
Welcome everyone to reverse mortgage and beyond.
00:00:27.920 --> 00:00:31.600
I'm Cheryl Schidel with Barrett Financial Group.
00:00:31.839 --> 00:00:34.399
And today I just want to share with you.
00:00:34.560 --> 00:00:41.359
Normally I talk about reverse mortgages, the reverse basics, the myths about reverse, and then how to purchase a home.
00:00:41.439 --> 00:00:45.200
But from time to time, I like to bring in special guests.
00:00:45.280 --> 00:00:51.119
And so I've uh welcomed Nicole Porter from Your Parent Portal Porter into today.
00:00:51.359 --> 00:01:06.239
And we're going to talk about how she helps seniors be proactive and um what we can do to help them along so that way they're not in chaos later with their hair on fire.
00:01:06.400 --> 00:01:12.319
So, Nicole, do you want to go ahead and give us your background and how everything got started for you with your business?
00:01:12.640 --> 00:01:13.519
Thank you so much.
00:01:14.000 --> 00:01:14.640
Yeah.
00:01:15.599 --> 00:01:17.439
Thank you for having me on here.
00:01:18.239 --> 00:01:26.319
You know, my background's real estate, and we've always been taught that the reverse mortgage is just not the thing for our clients.
00:01:26.560 --> 00:01:31.840
But you've made me see a whole new perspective because we connected after I started my new business called Your Parent Porter.
00:01:32.079 --> 00:01:32.319
Yes.
00:01:32.480 --> 00:01:40.159
And how this came about was I see in the real estate world that things happen to parents and kids don't know what to do with the houses.
00:01:40.480 --> 00:01:45.359
And then I, my own personal experience, lost both my parents.
00:01:45.680 --> 00:01:54.000
And we were just not prepared the way I kind of I guess I just hadn't even thought about the things that were going to happen as they age.
00:01:54.079 --> 00:01:59.439
My parents were in their 60s, they were healthy, and we weren't quite worried about them yet.
00:01:59.519 --> 00:02:02.879
I was home a week before my dad passed, um unexpectedly.
00:02:02.959 --> 00:02:06.480
And I was like, you know, dad, do we know what to do if something happens to you?
00:02:06.719 --> 00:02:08.479
And he's like, Oh, we just finished our will.
00:02:08.560 --> 00:02:09.360
It's in there on the table.
00:02:09.439 --> 00:02:10.000
You want to read it?
00:02:10.080 --> 00:02:13.120
And like any other adult child, I'm like, nah, no, no, no.
00:02:13.199 --> 00:02:14.319
I don't want to hear anything about it.
00:02:14.479 --> 00:02:14.960
Just asking.
00:02:15.120 --> 00:02:15.280
Yes.
00:02:15.360 --> 00:02:17.439
And we want to keep the relationship good right now.
00:02:17.680 --> 00:02:18.000
Right.
00:02:18.159 --> 00:02:20.080
You know, I don't want to think about my parents dying.
00:02:20.240 --> 00:02:21.360
You know, this is crazy.
00:02:21.520 --> 00:02:24.080
And my brother's like, well, dad wants to be cremated, mom wants a service.
00:02:24.800 --> 00:02:25.599
And I'm like, okay, cool.
00:02:25.680 --> 00:02:28.080
I'm glad somebody knows the wishes because we've never talked about this.
00:02:28.240 --> 00:02:29.120
I'm in my 40s.
00:02:29.199 --> 00:02:29.919
We've never talked about it.
00:02:30.240 --> 00:02:31.680
My parents were in their 60s.
00:02:32.000 --> 00:02:33.439
Um yeah.
00:02:33.680 --> 00:02:37.520
So a week later, my dad had a standard procedure and made it through surgery fine.
00:02:37.599 --> 00:02:40.719
And that night they think he had a blood clot and a heart attack and passed.
00:02:41.199 --> 00:02:44.879
And my mom had been diagnosed with non-alcoholic fatty liver.
00:02:44.960 --> 00:02:46.639
She'd been unhealthy for many years.
00:02:46.960 --> 00:02:51.840
And um, after my dad passed, she just sh downhill and passed exactly a year after him.
00:02:52.000 --> 00:02:52.560
Oh my gosh.
00:02:52.719 --> 00:02:54.159
And she was a collector of things.
00:02:54.240 --> 00:02:58.400
So every summer I would go home and I would be like, Ma, we've got to throw this stuff away.
00:02:58.560 --> 00:02:59.599
Like, we don't want this stuff.
00:02:59.840 --> 00:03:03.439
You know, we're gonna pull a dumpster up when you die and throw it all away.
00:03:03.680 --> 00:03:04.560
You guys are jerks.
00:03:04.639 --> 00:03:05.759
Why would you say that to me?
00:03:06.000 --> 00:03:06.400
You know?
00:03:06.960 --> 00:03:09.360
And I had to do it.
00:03:09.680 --> 00:03:13.280
And it was just overwhelming.
00:03:13.360 --> 00:03:20.800
Like, I won't even go into like all of the things because that's a whole nother episode of like being an adult child dealing with your losing your parents.
00:03:21.120 --> 00:03:22.639
But I saw a need.
00:03:22.800 --> 00:03:31.199
I saw that we were not prepared and I knew there's other midlife adult children that are not prepared or haven't had the conversations with their parents.
00:03:31.520 --> 00:03:33.280
So your parent porter was started.
00:03:33.360 --> 00:03:36.000
You know, I lived out of state.
00:03:36.319 --> 00:03:42.159
Um, my pam family's in Michigan, I'm in Arizona, and you know, like I said, I hear it all the time in the real estate world here.
00:03:42.319 --> 00:03:46.479
The kids live on the East Coast or, you know, wherever, and the parents are out here alone.
00:03:46.639 --> 00:03:47.840
Nobody's checking in on them.
00:03:47.919 --> 00:03:54.000
We go home once a year to like hang with our parents, and that's when we ask the questions, you know, where do we know what to do?
00:03:54.240 --> 00:03:55.680
Even if you even ask the questions.
00:03:57.360 --> 00:03:59.280
Yeah, kids put the blinders on, right?
00:03:59.520 --> 00:03:59.919
Absolutely.
00:04:00.000 --> 00:04:03.840
You know, and who wants to go home at Christmas time and be like, hey, mom and dad, what do you want to do when you die?
00:04:03.919 --> 00:04:04.000
Right.
00:04:04.159 --> 00:04:07.280
You know, like it doesn't, it doesn't go off well.
00:04:07.520 --> 00:04:11.280
So I was like, I need to help all these other healthy adults because they are.
00:04:11.439 --> 00:04:12.800
My parents didn't need help.
00:04:12.879 --> 00:04:14.240
They didn't need caretakers.
00:04:14.319 --> 00:04:16.319
Um, they were not at that point in their life.
00:04:16.480 --> 00:04:18.879
And I was like, why is nobody helping the healthy ones?
00:04:18.959 --> 00:04:20.160
Like, just get things in order.
00:04:20.319 --> 00:04:21.680
They won't listen to their kids.
00:04:21.920 --> 00:04:28.480
So what if I'm an unbiased third party that goes into people's homes and helps them proactively age in their house?
00:04:28.639 --> 00:04:34.079
Because here in Arizona, our, you know, our real estate has just gone crazy over the last few years.
00:04:34.240 --> 00:04:36.639
And people have a ton of equity in their homes.
00:04:36.959 --> 00:04:55.120
And they're even if they sell to downsize, they're still gonna spend all their money to downsize because what now they have 500K in equity in their house, um, and then to downsize to a 1300 square foot house in Scottsdale isn't gonna cost you 800K.
00:04:55.199 --> 00:04:55.279
Right.
00:04:55.519 --> 00:04:57.439
So you're not making a great move.
00:04:57.600 --> 00:05:00.160
It doesn't make sense for the parents to move all the time.
00:05:00.399 --> 00:05:02.319
And I know I'm that I'm saying it.
00:05:02.399 --> 00:05:07.920
I'm a real estate agent that like does not want people to sell their houses because there's nowhere to go in this city.
00:05:08.240 --> 00:05:25.199
Well, and you know, I don't know if this might be a good lead for you, but I actually went on a ride along with the fire department and they talk about how the alarms are going off in the middle of the night or the batteries that the that they need to change the batteries, and it's going off in the middle of the night.
00:05:25.279 --> 00:05:30.720
So they're calling the fire department because they need someone to change the battery for them.
00:05:30.959 --> 00:05:39.360
So maybe that might be a good lead source where you have to work with the fire department to be proactive to, you know, because they can't get on ladders.
00:05:39.439 --> 00:05:39.600
Right.
00:05:39.759 --> 00:05:46.720
And we don't want them getting on ladders at two o'clock in the morning to change the batteries, and maybe they can't reach it or do it or whatever the case.
00:05:46.879 --> 00:05:51.759
So these could be people that you know you might be able to find leads from to assist those people.
00:05:52.079 --> 00:05:52.480
Absolutely.
00:05:52.639 --> 00:05:54.560
So I've definitely heard of the fire department.
00:05:54.639 --> 00:05:58.000
The fire department actually does free home assessments on safety.
00:05:58.160 --> 00:06:04.319
Um, so my home, I did call my um my assessment a safe home assessment.
00:06:04.399 --> 00:06:04.560
Right.
00:06:04.720 --> 00:06:09.199
But it is an acronym for other things because there's more than just the risk factors of the house.
00:06:09.519 --> 00:06:11.040
How is the parent living?
00:06:11.360 --> 00:06:12.879
What's the lifestyle like?
00:06:12.959 --> 00:06:14.079
Um, how's their environment?
00:06:14.240 --> 00:06:21.199
Because your environment is more than just your house, you know, it's the neighborhood, it's um your community, it's all of the things.
00:06:21.439 --> 00:06:27.600
So my safe home assessment is um S stands for surroundings.
00:06:27.759 --> 00:06:31.680
Like what is everything around the house look like?
00:06:31.839 --> 00:06:33.439
You know, are they living in clutter?
00:06:33.600 --> 00:06:36.480
Are they hoarding or maybe they're super clean?
00:06:36.560 --> 00:06:39.759
You know, that's totally fine, but just that's the S part of it.
00:06:39.920 --> 00:06:41.439
Um, A is awareness.
00:06:41.600 --> 00:06:43.199
Like, how alert are they?
00:06:43.360 --> 00:06:50.639
Do they seem like they have some cognitive issues or weight management issues?
00:06:50.800 --> 00:06:53.680
Like, what kind of lifestyle are they living?
00:06:53.839 --> 00:06:55.680
So that's just kind of the A piece of it.
00:06:55.839 --> 00:06:57.680
Um, F is functions and fixes.
00:06:57.839 --> 00:07:02.639
Um, when I took over my parents' house, like as a realtor, I was I had to sell a house.
00:07:02.720 --> 00:07:05.439
And now I'm like, oh man, when did dad do the roof last?
00:07:05.759 --> 00:07:06.959
When was the AC replaced?
00:07:07.040 --> 00:07:07.120
Right.
00:07:07.360 --> 00:07:07.920
When was this done?
00:07:08.000 --> 00:07:15.759
When and I'm like, okay, so functions and fixes has got to be a part of my assessment because people just need a budget for those big items that you know can come up.
00:07:16.000 --> 00:07:23.040
Well, and that's where the reverse mortgage could come in because you know, we work with a lot of different um referral partners.
00:07:23.279 --> 00:07:25.839
And like I just did a reverse mortgage for somebody.
00:07:25.920 --> 00:07:27.279
She's like, I need a new roof.
00:07:27.439 --> 00:07:32.319
So the reverse mortgage can pay for the roof, it could pay for Nicole's services, it could pay for in-home health care.
00:07:32.639 --> 00:07:36.800
So these are great things that this is why we partner up because we can help each other.
00:07:36.879 --> 00:07:37.439
But go ahead.
00:07:37.680 --> 00:07:37.920
Yeah.
00:07:38.079 --> 00:07:40.319
So that's the F part, the functions and fixes.
00:07:40.480 --> 00:07:44.800
And, you know, maybe the reverse mortgage is the way for them to pay and finance that.
00:07:44.959 --> 00:07:46.879
Um, and then ease extended independence.
00:07:47.040 --> 00:07:51.360
What can we do proactively to extend their independence in the house?
00:07:51.519 --> 00:07:53.279
Like, what are the different aspects?
00:07:53.439 --> 00:07:55.360
Um, is it just are there trip hazards?
00:07:55.439 --> 00:07:56.720
Do they need to renovate a bathroom?
00:07:57.279 --> 00:07:59.199
I've been trying to get rid of a rug in my mom's house.
00:07:59.279 --> 00:08:01.439
I'm like, and they shuffle.
00:08:01.600 --> 00:08:02.319
They shuffle.
00:08:02.399 --> 00:08:07.040
And then my namesake, her husband just fell a little while ago from a rug.
00:08:07.120 --> 00:08:07.279
Yeah.
00:08:07.439 --> 00:08:09.839
And I'm like, oh, we need to reevaluate these rugs.
00:08:10.560 --> 00:08:10.959
They're fine.
00:08:11.040 --> 00:08:11.920
I'm like, okay.
00:08:12.160 --> 00:08:13.439
That is like one of the number one.
00:08:13.920 --> 00:08:15.279
I think goodness break anything.
00:08:15.759 --> 00:08:16.079
Yeah.
00:08:16.240 --> 00:08:21.920
It's the bathrooms and then the rugs, I think, are the two biggest trip hazards in any adult's home.
00:08:22.079 --> 00:08:25.839
Um bathrooms because you know, putting grab bars in, is that what you're talking about?
00:08:26.079 --> 00:08:26.160
Yeah.
00:08:26.319 --> 00:08:29.920
I mean, what kind of do they have to step into a bathtub to take a shower?
00:08:30.240 --> 00:08:32.720
Do they what um the slip?
00:08:32.960 --> 00:08:33.440
Drawing a blank.
00:08:33.519 --> 00:08:34.159
I'm drawing a blank.
00:08:34.320 --> 00:08:34.559
The slip.
00:08:34.799 --> 00:08:35.600
But just yeah, the slip.
00:08:35.840 --> 00:08:38.799
There's there's slips, there's falls, um, there's glass.
00:08:38.879 --> 00:08:48.559
I was in one gentleman's house and he had a glass countertop with raised glass bowl sinks and no cabinetry underneath and a big walk-in shower with a big glass wall.
00:08:48.720 --> 00:08:49.120
Oh my gosh.
00:08:49.360 --> 00:08:55.440
And he had to walk through his shower to use the toilet because the toilet room, whoever designed this bathroom is just crazy.
00:08:55.600 --> 00:08:58.240
They put the toilet room inside the walk-in shower.
00:08:58.480 --> 00:09:04.639
So this almost 80-year-old man is using this bathroom, and I'm just like cringing, going, Oh my gosh.
00:09:04.720 --> 00:09:05.840
And he's still, he's still healthy.
00:09:05.919 --> 00:09:07.279
He's like, I've been here for 30 years.
00:09:07.360 --> 00:09:07.759
I'm fine.
00:09:07.919 --> 00:09:10.799
I'm like, I understand that, but an accident's an accident for a reason.
00:09:10.960 --> 00:09:13.200
I'm just wondering when what year that house was built.
00:09:13.440 --> 00:09:14.240
Oh my goodness.
00:09:14.480 --> 00:09:16.000
Well, he's owned the house for 30 years.
00:09:16.159 --> 00:09:19.039
It was built in the 70s, you know, and I get it.
00:09:19.200 --> 00:09:27.120
I that's the problem with us as we age is we're like, we've been doing this, we've been doing this, but they don't talk about the house needs to age with you as well.
00:09:27.279 --> 00:09:37.279
I mean, when you're starting a family, when you're when you're a kid, you know, when you're in your 20s and or 30s or whatever you buy your first home, you know, you can still do stairs, you can still do some of the things.
00:09:37.440 --> 00:09:41.919
And then when you expand your family, you have to get a bigger home with more bedrooms.
00:09:42.080 --> 00:09:46.159
And then the kids leave and some people downsize at that point, you know, which is smart.
00:09:46.399 --> 00:09:47.200
I think what is it?
00:09:47.279 --> 00:09:49.600
Um, the average person moves seven times in their life.
00:09:49.840 --> 00:09:50.720
I think that's the number.
00:09:51.279 --> 00:09:54.559
Um, but I mean, a lot of people don't like to leave their homes, I get it.
00:09:54.879 --> 00:10:02.879
But now you're at that stage in your life where you need to make your home more safe and do it proactively because it's super expensive.
00:10:03.039 --> 00:10:09.279
Um, if you go to the hospital for a fall, then they won't let you go home until your house is accessible.
00:10:09.440 --> 00:10:22.080
Like if you have a wheelchair or crutches or a walker, um, a lot of occupational therapists have to go into the home and you know, that gets they assess the home and will not let you, they will not release you from the hospital until your home is accessible.
00:10:22.320 --> 00:10:23.039
Well, and you know what?
00:10:23.120 --> 00:10:29.759
I had somebody who was in acute care and they sent her home and the niece did not want her living there anymore.
00:10:29.840 --> 00:10:31.440
They wanted to sell and all that stuff.
00:10:31.919 --> 00:10:35.759
But the the patient, the client wanted to stay in her home.
00:10:36.159 --> 00:10:48.399
And I had gone over there a couple of times, and I got the call that the niece said that they were selling because the last thing that happened was the patient or client fell.
00:10:49.200 --> 00:10:56.080
Her lazy boy um, the foot part was out, her arm got stuck in between.
00:10:56.559 --> 00:11:04.320
So, so thank goodness she had her phone on or one of those push-button things, so those alert things, but her arm got caught in there.
00:11:04.480 --> 00:11:05.440
She was there for hours.
00:11:05.600 --> 00:11:05.919
Oh my gosh.
00:11:06.240 --> 00:11:10.080
Fire department the neighbor came to check on her and they came in.
00:11:10.399 --> 00:11:14.720
Fire department had to break apart the lazy boy and all the stuff, and then that was the final straw.
00:11:14.799 --> 00:11:16.000
Oh my god because she fell.
00:11:16.159 --> 00:11:16.320
Right.
00:11:16.559 --> 00:11:22.000
But but you know, some I mean, we want our seniors to age in place, but sometimes it doesn't make sense for them to do.
00:11:22.480 --> 00:11:24.960
But I mean, there are options for them to be proactive.
00:11:25.039 --> 00:11:29.759
Like maybe they are getting furniture that's more accessible that will help lift them up and out.
00:11:29.919 --> 00:11:30.080
Right.
00:11:30.320 --> 00:11:34.559
So they're not getting stuck in the low furniture because they've held on to it for 30 years.
00:11:34.799 --> 00:11:41.440
Well, and yeah, and those ones now that they have that I got my mom one because she was in a car accident and we need to elevate her legs.
00:11:41.600 --> 00:11:51.519
But we got one of those lifting chairs that's automated, but it doesn't have that hole between the chair and like I'm talking about, to where someone could get their arms stuffed.
00:11:51.919 --> 00:11:52.879
I love those as a kid.
00:11:53.200 --> 00:11:57.919
You can like crawl in between dad's legs and the the footstool and all the things.
00:11:58.240 --> 00:12:03.519
But for safety, they don't have that hole there to where somebody could hurt themselves or whatever.
00:12:03.600 --> 00:12:04.399
So Right.
00:12:04.720 --> 00:12:06.799
So what are some of the silent warning signs?
00:12:07.039 --> 00:12:09.919
Or have I mean what what what can you speak to on that?
00:12:10.159 --> 00:12:15.039
Well, I mean, even like with um as we age, you know, our eyes get worse, you know.
00:12:15.200 --> 00:12:18.159
So sometimes people just need better lighting in their house.
00:12:18.320 --> 00:12:22.559
Um maybe there's not something wrong with them, you know, but it's just their eyesight.
00:12:22.639 --> 00:12:28.159
Like you need different kinds of lighting, different um lumens, and there's a whole science to that I'm learning.
00:12:28.399 --> 00:12:31.679
Like to warm lighting and cool lighting, even um, warm lighting, cool lighting.
00:12:31.759 --> 00:12:36.639
So your lens is yellow as you get a as you age, and you can't see blue as well.
00:12:36.799 --> 00:12:42.159
So that's why you see a lot of things are that are more warm colors, reds and oranges and yellows and things.
00:12:42.240 --> 00:12:45.440
Um, your aging eyes can see those colors much better than cool colors.
00:12:45.679 --> 00:12:45.919
Okay.
00:12:46.159 --> 00:12:48.720
And patterns, you know, kind of mess with your vision as well.
00:12:48.960 --> 00:12:52.240
So, you know, going in the home is is there good hallway lighting?
00:12:52.399 --> 00:12:53.840
Is there good overhead lighting?
00:12:54.000 --> 00:12:55.759
Um, it changes as you age.
00:12:56.000 --> 00:13:01.200
Well, and I can't tell you how many times I've gone into somebody's house and they have these, this very this dim lighting.
00:13:01.600 --> 00:13:08.320
And I was just at somebody's house the other night, and it's the norm for them because I was just, and then they were trying to show me some paperwork.
00:13:08.399 --> 00:13:09.919
I'm like, can we turn on some lights?
00:13:10.080 --> 00:13:11.519
You know, I'm just like, what the heck?
00:13:11.600 --> 00:13:12.559
You know, but it was interesting.
00:13:12.879 --> 00:13:12.960
Right.
00:13:13.039 --> 00:13:23.919
But I think that's why I'm just unbiased third party to come in here and kind of point these things out because the older people are just making do, you know, they don't recognize the small things, the small changes.
00:13:24.000 --> 00:13:28.080
Um, but it is these small changes that can lead to really big problems.
00:13:28.399 --> 00:13:33.279
So that's why I started this business, is because I want to go in and like kind of point some of these little things out.
00:13:33.360 --> 00:13:35.039
They're still healthy enough to make decisions.
00:13:35.279 --> 00:13:35.600
Okay.
00:13:35.919 --> 00:13:38.080
And taking the keys away, right?
00:13:38.320 --> 00:13:41.519
You could be the third party to help someone.
00:13:41.919 --> 00:13:43.120
I have to take a class on that.
00:13:43.279 --> 00:13:45.679
Get take the keys away from the parents.
00:13:46.000 --> 00:14:00.720
Because when their eyesight's going, immaculate degeneration or whatever, and they're having problems seeing their periphery, all the stuff, because I don't know what the DMV, if there is like an age report, the doctor is probably a better person to do that than I am.
00:14:01.039 --> 00:14:01.919
Of course, of course.
00:14:02.000 --> 00:14:05.600
But I could be that person that like comes in once a month and I was like, hey.
00:14:05.919 --> 00:14:14.799
Well, no, I've heard of a patient who it said in their doctor's notes, eye doctor's notes, legally cannot drive anymore, but they're still driving.
00:14:15.120 --> 00:14:15.919
So who, yeah.
00:14:16.240 --> 00:14:17.679
I'm not really sure who's enforcing that.
00:14:17.919 --> 00:14:20.799
But now that that's parents don't always tell their kids those things either.
00:14:20.879 --> 00:14:23.840
So I mean that's but then now that's in their record.
00:14:23.919 --> 00:14:25.919
If something happens, God forbid, right?
00:14:26.080 --> 00:14:27.279
They're really responsible.
00:14:27.519 --> 00:14:27.679
Right.
00:14:27.919 --> 00:14:28.399
You know what I mean?
00:14:28.480 --> 00:14:34.399
So I just put that on my checklist of my home assessment of like when I'm asking about their independence, like, hey, are you still driving?
00:14:34.559 --> 00:14:35.200
What does that look like?
00:14:35.360 --> 00:14:37.120
When's the last time you had your eye appointments?
00:14:37.200 --> 00:14:37.440
You know?
00:14:37.600 --> 00:14:37.759
Yeah.
00:14:37.840 --> 00:14:39.440
Um, and I'm a non-medical service.
00:14:39.519 --> 00:14:43.840
So I think that's where people have been getting me confused in the senior industry is because I'm not a caretaker.
00:14:43.919 --> 00:14:49.759
I'm trying to help the healthy adults take proactive action on their health in their home so they can live there longer.
00:14:50.080 --> 00:14:55.679
So you're really, you want to reach out and your referrals would be primarily the adult children.
00:14:55.919 --> 00:15:00.320
Adult children that have parents in their 60s, 70s, and 80s or 70s and 80s.
00:15:01.440 --> 00:15:02.399
And your parents don't listen to you.
00:15:02.639 --> 00:15:03.519
Or you live out of state.
00:15:03.759 --> 00:15:04.720
Or you live out of state.
00:15:04.879 --> 00:15:05.039
Okay.
00:15:05.279 --> 00:15:06.480
That would be like my ideal client.
00:15:06.559 --> 00:15:10.799
But I do, since the adults are here, you know, I do want to educate more seniors.
00:15:10.879 --> 00:15:20.960
And, you know, that's why you and I have partnered up because we want to educate them more on their homes and you can talk to them more about the home equity and how they can make these these changes and improvements to their home and their lifestyle.
00:15:21.120 --> 00:15:27.120
And I think that's where you and I really need to um educate and encourage more um adults to take proactive action.
00:15:27.360 --> 00:15:27.519
Right.
00:15:27.600 --> 00:15:31.279
So, what are some of the myths that you've come across with the adult children?
00:15:32.000 --> 00:15:34.399
Well, all the parents are, I'm fine.
00:15:34.480 --> 00:15:34.799
I'm fine.
00:15:34.960 --> 00:15:39.279
I mean, I've been, I started this business like six months ago, and you know, everyone, I'm fine.
00:15:39.440 --> 00:15:40.320
That's a great idea.
00:15:40.480 --> 00:15:43.120
Your business is awesome and it's a great idea, but I'm fine.
00:15:43.519 --> 00:15:43.840
I'm fine.
00:15:44.080 --> 00:15:49.919
So I mean, I think that's my biggest, my biggest challenge overcoming and starting, you know, a new concept, a new idea.
00:15:50.000 --> 00:15:51.840
Um, because most people are in reactive mode.
00:15:51.919 --> 00:15:57.519
They wait for the trauma, they wait for a diagnosis, they wait for a decline, and then it's too late.
00:15:57.840 --> 00:16:04.960
So, what's a story you can share where a small change made a huge difference for somebody's safety and independence or peace of mind?
00:16:05.279 --> 00:16:05.519
Yeah.
00:16:05.600 --> 00:16:07.919
I mean, I think just getting the rugs out of the way.
00:16:08.240 --> 00:16:14.639
You know, I was in this gentleman's house and you know, I'm like, he saved all the extra pieces of carpet when he had his carpet fixed, you know.
00:16:14.799 --> 00:16:20.480
And I'm like, please, just any if you do anything for me, just will you just please well, I don't want to wear it on the floor.
00:16:20.639 --> 00:16:21.919
You are not gonna wear it on the floor.
00:16:22.080 --> 00:16:22.240
Yeah.
00:16:22.399 --> 00:16:26.720
You are and what about do you run into the people that still have the plastics going down the hallway?
00:16:27.120 --> 00:16:28.159
That remember that back in the day.
00:16:28.320 --> 00:16:29.120
Oh my gosh, I haven't seen that.
00:16:29.279 --> 00:16:32.080
So they would save carpet, but that's a trip has been a little bit of a few.
00:16:32.240 --> 00:16:34.320
Well, carpet carpet in general is just not good.
00:16:34.639 --> 00:16:34.960
Right.
00:16:35.200 --> 00:16:45.440
Um because it is depending on you know the padding and people shuffling and all the things, like carpet is just probably your least likely um flooring.
00:16:45.600 --> 00:16:48.639
Yeah, it's it's an enemy at this point in your life.
00:16:49.360 --> 00:16:57.519
So if someone listening feels that nudge, but they're been proc they've been procrastinating, what's the first simple step they should take today?
00:16:58.159 --> 00:16:59.759
Well, they can definitely contact me.
00:16:59.919 --> 00:17:02.480
Um, I have a free safe home assessment.
00:17:02.639 --> 00:17:15.279
I can give you kind of a checklist so that you can go over some things with your parents and when you're home for the holidays or, you know, visiting for spring break or whatever you're doing here in Arizona, um, or anywhere really.
00:17:15.359 --> 00:17:20.319
Um, I have a safe home checklist that you can, you know, start to go over and talk to your parents about some of these things.
00:17:20.400 --> 00:17:23.839
And just so you have some peace of mind and know what to do if there's an emergency.
00:17:24.160 --> 00:17:31.119
Well, then you're gonna be also that that way you'll also see other areas and then you've got referral partners that you can refer them to as well.
00:17:31.359 --> 00:17:31.920
Oh, absolutely.
00:17:32.000 --> 00:17:35.279
I mean, I'm obviously don't have tools in my car.
00:17:35.359 --> 00:17:37.920
I'm not like um renovating houses or anything.
00:17:38.160 --> 00:17:53.839
So I mean, like I said, my service is I have a ton of partners that I work with, you know, whether it's you um helping them finance the projects that need to be done in the house or working with partners that are aging in place certified, like I am, um, that actually do the renovations or add the grab bars.
00:17:54.079 --> 00:18:04.480
Um, also, um, you know, people that are into wellness, you know, sometimes people just need, maybe they just need a little bit more activity in their life.
00:18:04.640 --> 00:18:06.400
You know, they're lonely sitting at home.
00:18:06.480 --> 00:18:13.200
And I was like, you know, I can advise like get in community, join a gym, or we can find private instructors for them.
00:18:13.599 --> 00:18:16.480
Um, you know, just to try to get them moving more.
00:18:16.559 --> 00:18:19.599
So they're not just sitting there aging and declining.
00:18:19.680 --> 00:18:22.720
And, you know, we want our parents to live a longer, healthier life.
00:18:22.799 --> 00:18:26.799
I mean, and I think all older people, you know, no one wants to admit that they're aging.
00:18:26.880 --> 00:18:27.039
Right.
00:18:27.200 --> 00:18:28.480
Um, and I try not to say senior.
00:18:28.559 --> 00:18:32.720
I say I try to say older adults because, you know, everybody What about mature adults?
00:18:32.880 --> 00:18:33.680
Do they like that or not?
00:18:34.000 --> 00:18:35.119
No, I mean I don't like it.
00:18:35.279 --> 00:18:36.240
I don't want to be mature.
00:18:36.720 --> 00:18:38.079
Like that's that means I'm old.
00:18:38.799 --> 00:18:40.240
If I'm mature, I'm old, you know.
00:18:40.559 --> 00:18:43.119
She's 81 and she's like, you know, those old people.
00:18:43.200 --> 00:18:44.400
And I'm like, yeah, okay.
00:18:45.200 --> 00:18:46.720
I've heard and I've heard that a lot too.
00:18:46.799 --> 00:18:48.240
Uh that old lady down the street.
00:18:48.400 --> 00:18:50.240
My friend's mom said that to me the other day.
00:18:50.319 --> 00:18:53.759
You know, they live out in Sun City and she's like, I'm too young to live here.
00:18:53.839 --> 00:18:54.640
And she's 81.
00:18:54.720 --> 00:18:54.880
Okay.
00:18:55.039 --> 00:18:57.759
And she's like, all those old ladies down the street, I don't like them.
00:18:57.839 --> 00:18:58.400
They're not my friends.
00:18:58.559 --> 00:18:59.839
I had a they don't go to concerts.
00:18:59.920 --> 00:19:00.799
I want to go to concerts.
00:19:00.880 --> 00:19:04.799
And I was just like, all right, well, um uh we can find you a new neighborhood to live in.
00:19:04.960 --> 00:19:06.960
Like I I am still a licensed realtor.
00:19:07.200 --> 00:19:08.319
We can still find you a new house.
00:19:08.559 --> 00:19:13.440
Well, and I just sit alone for an 85-year-old because she she came to me from the radio station.
00:19:13.599 --> 00:19:18.960
I have a radio show, and she came to me 85 because she wants to travel.
00:19:19.119 --> 00:19:23.359
So we just closed on her loan and she's going on a cruise next week.
00:19:23.519 --> 00:19:23.920
That's right.
00:19:24.079 --> 00:19:28.640
And so, and she contacted me for a reverse mortgage so she could travel for herself.
00:19:28.799 --> 00:19:32.880
But that's also good for grandparents to take their kids or grandkids on travel.
00:19:33.359 --> 00:19:35.359
Um, so how do people get a hold of you?
00:19:35.440 --> 00:19:37.519
We'll put in the show notes, but how do they get a hold of you?
00:19:37.759 --> 00:19:41.279
Yes, my name's Nicole Porter, and my business is your parent porter.
00:19:41.680 --> 00:19:47.759
Um, I'm on YouTube, I'm on Instagram, I'm everywhere, and it's all your parent, your parent porter.
00:19:47.920 --> 00:19:49.519
My last name's Porter, P-O-R-T-E R.
00:19:49.920 --> 00:19:50.000
Okay.
00:19:50.799 --> 00:19:51.119
Yeah.
00:19:51.359 --> 00:19:56.559
Okay, so that's the best way to reach you by phone or email also or just email, social media.
00:19:56.880 --> 00:19:57.440
Okay, perfect.
00:19:57.599 --> 00:19:58.319
Okay, perfect.
00:19:58.480 --> 00:19:59.200
All right, Nicole.
00:19:59.279 --> 00:20:07.359
So thank you so much for joining us today um and sharing your expertise for this incredible work for families through your parent porter.
00:20:07.680 --> 00:20:08.000
Porter.
00:20:08.400 --> 00:20:10.319
I don't know why that's a tongue twister for me.
00:20:10.720 --> 00:20:11.839
Parent porter.
00:20:12.559 --> 00:20:12.880
I got it.
00:20:13.119 --> 00:20:14.400
My last name is Porter.
00:20:14.799 --> 00:20:15.039
Yes.
00:20:15.359 --> 00:20:15.759
Got it.
00:20:15.839 --> 00:20:16.960
It's just a tongue twister for me.
00:20:17.119 --> 00:20:17.759
I don't know why.
00:20:18.000 --> 00:20:26.400
But anyway, so to learn more, you know, contact us through the show notes and um you can visit my website, Reverse Mortgage and Beyond.
00:20:26.559 --> 00:20:35.119
I'm Cheryl Scheidel with Barrett Financial, and you can reach me for your reverse mortgage scenarios at 480-817-4324.
00:20:35.279 --> 00:20:37.279
Until next time, thank you so much.
00:20:37.839 --> 00:20:44.400
Again, this is Cheryl Scheidel, NMLS number 886425 with Barrett Financial, an Equal Housing Lender.
00:20:44.720 --> 00:20:52.240
Please remember that loan programs, rates, and eligibility guidelines are subject to change and may vary based on individual circumstances.
00:20:52.480 --> 00:20:56.559
Nothing discussed in this episode constitutes a loan offer or credit decision.
00:20:56.720 --> 00:21:00.960
Any examples or scenarios shared are strictly for illustrative purposes.
00:21:01.119 --> 00:21:05.039
All loans are subject to credit approval and underwriting conditions.
