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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\nEpisode 2880:\nSteve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it\u2019s crucial to understand the complexities and potential risks before making this significant decision.\nRead along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/\nQuotes to ponder:\n"A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion."\n"For many retirees, their home is a valuable source of net worth."\n"The HECM line of credit has a growth feature, which means that the unused loan balance grows over time."\nEpisode references:\nNational Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/\nThe Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/\nLearn more about your ad choices. Visit megaphone.fm/adchoices