Does couple need reverse mortgage to ensure their money outlasts them?

Many people have a perception that a reverse mortgage is like “free money,” since you don’t need to qualify and you never have to make payments. Photo by Getty Images/iStockphoto

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Do we need to take out a reverse mortgage to make sure our money outlasts us? That is the question married couple Grace,* 76, and Joe, 75, are trying to answer.

Based in British Columbia , they are comfortably retired but concerned about the increasing cost of living . They attended an information session about reverse mortgages and are interested in how they might put it to work for them to provide peace of mind and fund four bucket