Most people think a reverse mortgage is designed only for low income seniors… people who need money to support their lives during their retirement years. They’re wrong about that.
Retirement today is measured in decades... not years. Rising costs of health care, among other things, makes saving enough to maintain your lifestyle is much harder than it ever was in the past.
You might be able to work until you’re 99. I don’t know if you will and neither does anyone else... but it’s also a fact that it might not work out that way.
All you have to do is Google the term “reverse mortgage” and you’ll see that some in the media have written articles saying that they should be avoided. They are wrong... again.