July 28th, 2010
People who have meaning and purpose in their lives tend to be happier no matter what their age is, according to a study by MetLife Mature Market Institute (MMI). Even those who have been impacted financially by the recession are more satisfied when they have meaning in their lives.
Living the Good Life
“Across the board, regardless of age, family and friends are most important above all else,” Sandra Timmermann, Ed.D., MMI’s director, said in a statement. “Further, people with purpose in their lives tend to be living ‘the good life.’ Even though many have suffered financial setbacks in the past couple of years, their priorities remain unchanged. Purpose is age-proof and recession-proof.”
The study polled people aged 25 to 74 and found that living the good life means having financial freedom, and being mentally and physcially healthy, creating deep relationships and a sense of purpose, and feeling like you belong. It also means being able to deal with significant life changes, such as a job loss, marriage, death of a loved one, divorce, retirement, etc. Older people, who aren’t as focused on earning and managing money as young people, spend more time on meaningful activities.
Reverse Mortgages and the Good Life
If you are experiencing major changes because of a drop in income, you can still live a fulfilled and meaningful life. And if deprivation isn’t your thing, a reverse mortgage could be one way to supplement your income and bring more financial security. Just remember that a reverse loan by itself won’t bring fulfillment to your life. Having relationships and activities that bring joy to your life are likely to be just as important.