Concept Based on Survey Showing 82% of Seniors Want to Age in Place
ORANGE, Calif. (Oct. 19, 2020) – Today, American Advisors Group (AAG), the No. 1 reverse mortgage lender in the nation, released its new television spot, titled “American Dream,” starring company spokesperson Tom Selleck. The commercial’s premise is based on the longstanding national dream of homeownership, and how older Americans can use their home equity to maintain and upgrade their home for a better, safer retirement.
“For Americans, a house is more than just a home. It symbolizes their years of hard work, the family they’ve built, and the life they’ve lived,” says Selleck. “For many seniors, that home is now a lifeline, and AAG can help them make it comfortable.”
The messaging direction for the commercial is based on direct feedback from America’s seniors. Prior to filming, AAG conducted a survey of more than 250 seniors, aged 62-75, to discover their thoughts about the future of their homes during retirement. The results made it clear that seniors who have obtained the American Dream have no plans of abandoning it. Key survey findings showed that over 82% percent of older Americans plan to live out their retirement at home rather than move closer to loved ones. A majority of seniors also answered that they would use financial help to make home renovations when given a list of options that also included paying off bills, funding in-home medical care, or upgrading their technology.
“This year has changed many aspects of our lives, including the way that we view retirement,” said AAG Chief Marketing Officer Martin Lenoir. “Older Americans are feeling safer at home, but many need additional resources, like the use of their growing home equity, to make needed renovations so they can live comfortably throughout retirement.”
The COVID-19 pandemic hit America’s seniors the hardest and forced many to quarantine at home for their health and safety. The dangers of the pandemic also rang clear in the survey results; when asked if they would rather remain in their home in their later years or move to a nursing care facility, 95% answered they would prefer to remain in their home.
Earlier this year, AAG addressed the loneliness and isolation seniors are facing during the pandemic by partnering with Tom Selleck to release a special message reminding everyone to care for the seniors in their lives and to wish them well, as they are America’s most valuable and vulnerable.
AAG, now a division of Finance of America Reverse (FAR), continues its dedication to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. AAG offers a suite of home equity solutions — including Home Equity Conversion Mortgages and proprietary reverse mortgages, that are designed to give seniors a better financial outcome in retirement. Following the asset acquisition of AAG by FAR in April 2023, FAR and AAG together make up one of the largest reverse mortgage companies in the US. The company is licensed nationally (NMLS #2285) and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). For more information about AAG, please visit www.aag.com.
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