Enjoy access to a free NMLS renewal class when you attend an in-person event.
On the Nov. 16 episode of my Lykken on Lending Internet radio show, I asked mortgage industry veteran Bill Dallas what drove him to keep working in the mortgage industry when he could be retiring and bringing his career to an end. He told me that he thought working in the mortgage industry was doing meaningful work. He loves getting people into homes and feels that working in the industry provides the opportunity to improve the lives of consumers.
The conversation reminded of one of my favorite stories. I was once approached by an 85-year-old we asked for advice on helping him start a business. When I asked how long he thought he would live, he said, "At least until I'm 90." When I asked him why he thought he would live until he was 90, he said, "Because I've got a five-year business plan."
You've probably heard the expression, "If you find work that you love, you'll never have to work a day in your life." As with any industry or any line of work, many people approach their work in the mortgage industry merely as a job. But those who want to be successful—those who want to really make a mark and leave an impact—are those who view their work in the industry as a calling.
The mortgage business can be meaningful work. Getting people into homes is a noble thing. It all depends on your perspective. There's nothing wrong with retiring, but I would encourage you to take an interest in the business such that if you do eventually retire, you'll both miss and be proud of the work you did. We need people in the industry who find meaning in the work beyond the paychecks they receive at the end of the week.
David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is [email protected].