Reverse Mortgages ... How to Lose $1 mil in 30 Years | Ep. 385

In this episode, we discuss reverse mortgages. Reverse mortgages are a financial product where older New Zealanders are able to borrow against their home without making repayments to the bank.  Here, we talk through the benefits and the drawbacks of these sorts of loans, including their high-interest rates and the speed at which they can erode the equity you've built up in your home. We also talk through the alternatives that you have if you are nearing retirement to ensure you can access funds without eroding your financial position.  Finally, we wrap up the show by discussing our upcoming podcast tour, which has recently changed dates. Click here to register for the new dates.