“It Gave My Retirement Room to Breathe”

David, 68 — Burlington, ON
When I retired at the end of 2019, I felt confident.
My house was paid off. My investments were solid. I had a plan.
Then, just months into retirement, the markets collapsed.
In March 2020, I watched my portfolio fall sharply in a matter of weeks. I remember looking at my statements and realizing that if I kept withdrawing money the way I had planned, I’d be selling investments at the worst possible time—right after retiring.
That was unsettling.

I had always thought of my house as something I would never touch financially. It was my safety net, not a strategy. But when my advisor explained how a reverse mortgage could temporarily replace my investment withdrawals, it changed the way I looked at things.
Instead of selling investments while markets were down, I used a portion of my home equity to cover my expenses.
That decision made all the difference.

For more than a year, I didn’t have to touch my portfolio at all. My CPP and OAS continued as usual, and the reverse mortgage gave me the cash flow I needed—without monthly payments and without stress.

When markets recovered in 2021, my investments recovered too. Nothing had been sold at a loss. Nothing had been locked in at the bottom.

Then came 2022. Another tough year in the markets. But this time, I didn’t panic. I simply used the same strategy again—drawing on home equity and leaving my investments alone.

What surprised me most was the peace of mind.
I stopped worrying about timing the market. I stopped feeling forced to sell. My retirement income felt smoother and more predictable, even when headlines were anything but.

I still own my home. I still benefit from its appreciation. And my investments are in far better shape today than they would have been if I’d stayed on my original path.

Looking back, the reverse mortgage didn’t replace my investments—it protected them.
It gave my retirement room to breathe.

“We always assumed our kids would benefit from our home one day — the way most parents do. You work hard, you pay it off, and eventually it becomes part of your estate.

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But watching our children struggle in real time changed how we thought about that.”

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John and Linda Matthews bought their Hamilton home more than 35 years ago. By the time John retired, the mortgage was long gone. They lived comfortably on CPP, OAS, and a modest workplace pension. They weren’t extravagant, but they weren’t worried either.

What did worry them was their daughter, Sarah (38), and her husband, Mark (40).

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“They were doing everything right — good jobs, savings, no reckless spending. But every year, house prices moved faster than they could save. We could see the stress building.”

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Sarah and Mark had saved a down payment, but not enough to comfortably manage today’s prices and mortgage payments without stretching themselves thin. Every conversation about housing seemed to end with the same frustration: ‘Maybe next year.’

“We realized something one night at the kitchen table. Waiting to help them later didn’t make sense if ‘later’ meant after we were gone. That wasn’t what we wanted.”

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After speaking with a reverse mortgage specialist, John and Linda learned they could access a portion of their home equity — without selling, without monthly payments, and without changing how they lived.

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They decided to use part of the reverse mortgage proceeds to top up their daughter’s down payment, reducing Sarah and Mark’s mortgage size and monthly payments from the start.

“It didn’t affect our lifestyle at all. We still live the same way, in the same house, on the same budget. But for them, it changed everything.”

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Within months, Sarah and Mark purchased their first home in Hamilton, close enough for Sunday dinners and childcare drop-ins.

“Seeing them get their keys — knowing we helped make that possible — was one of the most meaningful moments of our retirement.”

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John and Linda were clear with their family about what the decision meant.

“This wasn’t about being reckless or ‘giving it all away.’ It was about using our home equity thoughtfully. We’re still secure, still independent, and still in control of our home.”

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Looking back, they don’t frame it as a financial transaction — but as a choice.

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“Instead of worrying about what might be left at the end, we focused on being there for our family now. We got to see the impact, share the joy, and know that our home helped our kids build their own future. We wouldn’t change a thing.”

“After my mom, Maureen, passed away at 86, my dad and I had a conversation that neither of us was really ready for — but both of us knew had to happen.”

My father, James Raymond, was 90 years old at the time. For someone his age, he was in remarkably good health. His mind was incredibly sharp, and he remained independent and thoughtful about his future.

We spoke honestly about what the next chapter might look like.
“We both knew that the day would eventually come when he would need to move into a nursing home. And when that happened, the house would have to be sold.”

That realization hit us harder than expected.
The home had been in our family for nearly 50 years. Like many long-time homes, it had accumulated a lifetime of memories — and a lifetime of stuff. It also hadn’t seen any major updates since 1995. While it had been lovingly maintained, it wasn’t a home that would appeal to a modern buyer without significant work.
My dad already had a reverse mortgage in place. After careful discussion, he decided to re-apply and increase the reverse mortgage, using the additional proceeds specifically to renovate the home — not for lifestyle spending, but to prepare it for an eventual sale.

“This wasn’t about splurging or taking risks. It was about being practical and proactive.”
The renovations focused on modernizing the home so it would be attractive, functional, and marketable when the time came.
Sadly, my dad passed away before all of the renovations could be completed.

I finished the work myself and eventually sold the home.
“When the sale closed, the result was something I think about often.”
The final sale price was more than double the outstanding reverse mortgage balance.

Even after the renovations, interest, and time, there was substantial equity left for the family.
“That experience changed the way I talk about reverse mortgages forever.”

This wasn’t a theoretical example. It wasn’t a projection or a brochure promise. It was real life.
“The reverse mortgage didn’t take equity away from our family — it helped protect it. It allowed my dad to prepare his home properly, avoid distress decisions later, and ultimately leave behind far more value than if nothing had been done.”

For me, this experience became living proof of something I’ve seen again and again:

“When used thoughtfully, a reverse mortgage can be a tool — not just for comfort or cash flow — but for preserving dignity, control, and family equity.”

“I never thought I’d be the one helping my parent make a financial decision like this — but life has a way of flipping roles when you least expect it.”

My mom, Evelyn, has lived in her bungalow on the Hamilton Mountain for over 40 years. It’s the home where my brother and I grew up, where every family holiday happened, and where she always said she wanted to stay as long as she possibly could.

But over the last few years, things started to change.
She was dealing with arthritis in her knees and early-stage macular degeneration, which made driving and managing daily tasks harder. Nothing dramatic — but enough that we could all see she needed more support, both physically and financially.

“What made it harder was that her house was paid off, but her income was limited. She was proud, independent, and very careful with money — sometimes too careful.”

She was postponing things she genuinely needed: help around the house, safer bathroom upgrades, even small conveniences that would have made her life easier. Every time we suggested spending a bit more, her answer was the same: ‘I don’t want to be a burden, and I don’t want to run out of money.’

As her daughter, that was heartbreaking.
I started looking into options and came across reverse mortgages. Like most people, my first reaction was skepticism. I’d heard the myths — losing the house, wiping out the inheritance, things going wrong.

So I did my homework.
“What surprised me most was realizing this wasn’t about taking something away from the family — it was about using what was already there to support her quality of life.”
Once we sat down together and spoke with a specialist, things clicked. My mom could access a portion of her home equity without selling, without monthly payments, and without changing ownership of her home.

The funds were used to:

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• Install a walk-in shower and safety rails

• Arrange weekly in-home support

• Create a small cash buffer so she could stop stressing about every unexpected expense

“The change in her was immediate. She relaxed. She slept better. She stopped apologizing for needing help.”
From my perspective as her daughter, the biggest relief was knowing she was safe — and that the decision was made before a crisis forced our hand.

“This wasn’t about me protecting an inheritance. It was about protecting my mom’s independence and dignity.”

She’s still in her home on the Mountain. Still in her neighbourhood. Still waving to the same neighbours she’s known for decades.
And I got to be part of helping her stay there.

“If I’m honest, helping my mom understand and use a reverse mortgage is one of the most meaningful things I’ve done for her.
It didn’t take something away from our family — it gave something back. Peace of mind, comfort, and time. That’s worth far more than waiting for something later.”

Perhaps one of the most understated benefits of a reverse mortgage is the psychological relief it provides.

Retirees often describe feeling a renewed sense of stability, dignity, and confidence once financial pressures ease. Instead of worrying about fluctuating monthly expenses, investment performance, or the
cost of future care, they gain the freedom to focus on enjoying their retirement years, maintaining their home, and living on their own terms.

“I Didn’t Have to Choose Between My Family and My Retirement”
— Betty, 74, Oakville
“I always thought helping family meant giving something up myself. I didn’t realize it could actually make my own retirement stronger.”

At 74, I felt grateful for the life I had built. My Oakville home was paid off, my expenses were modest, and my pensions covered the basics. I wasn’t worried—but I was thoughtful. I wanted stability. I wanted dignity. And I wanted to be intentional about how I used what I’d worked so hard for.

What weighed on my heart most was my grandchild, Megan, and her spouse, Noah. They were doing everything right—steady jobs, good credit, a solid down payment—but every home they liked came with monthly payments that felt just a bit too tight. I wanted to help them get into a home now, when it would truly change their lives—not someday, decades down the road.

At the same time, I was feeling the quiet pressure of rising costs. My income hadn’t changed, but everything else had. I wasn’t interested in selling my home or dipping into savings. I just wanted a little more breathing room—something predictable that would let me enjoy retirement without second-guessing every expense.

What surprised me most was learning I didn’t have to choose between helping my family and protecting my own future.
With a properly structured reverse mortgage, I was able to unlock a portion of the equity in my home—without moving, without monthly payments, and without changing how I lived day to day. That equity helped Megan and Noah purchase a home in Hamilton. Their down payment, combined with my home equity, kept the financing comfortable and conservative.

They now live in the home as tenants, and the monthly payment they make flows back to me as income. That cash flow supplements my pensions and gives me flexibility—without touching investments or taking on new obligations. Because there are no mandatory payments on my reverse mortgage, the income I receive is real cash flow, not money disappearing into debt servicing.

Even more meaningful to me, I get to see the impact of my help now. Megan and Noah are building their lives, and I’ve already made it clear that the home will eventually be theirs. It feels like an early inheritance—one that actually matters while I’m still here to watch it make a difference.

The unexpected benefit? Peace of mind.
Once the financial pressure eased, so did the worry. I sleep better. I feel more confident. I’m not constantly thinking about rising costs, future care, or whether I’m being “too generous.” My home is finally doing what I always hoped it would—supporting both my retirement and my family.

“This wasn’t about clever financing. It was about alignment—using what I had, thoughtfully, to live well and give well at the same time.”
That’s what retirement should feel like.