For years, reverse mortgages were left out of most retirement planning conversations. Many financial advisors either didn’t understand the product, or carried outdated beliefs about how it worked and who it was for.

That’s starting to change.

As myths are dispelled and the program continues to evolve, more planners are recognizing the value a reverse mortgage can bring—especially for retirees on a fixed income or those seeking to make the most of their golden years. For some, it can mean the difference between simply getting by and truly living well.

When structured strategically, a reverse mortgage can support other retirement assets by reducing portfolio withdrawals, delaying Social Security, or creating a reliable buffer for unexpected expenses. And because the loan doesn’t require monthly repayment, it offers something many seniors value deeply: flexibility and peace of mind.

If you’re a financial planner looking to explore this option for your clients, here are a few tips to consider:

1. Work with a reputable reverse mortgage specialist. Look for someone with strong local roots, who represents a lender affiliated with the National Reverse Mortgage Lenders Association (NRMLA) and the Better Business Bureau. Having a trusted partner can make a big difference in navigating the process smoothly and ethically.

2. Make sure you have accurate, up-to-date information. There’s still a lot of misinformation circulating about reverse mortgages. If you’re unsure about any detail – loan terms, eligibility, inheritance rules – don’t guess. Reach out to a qualified reverse mortgage expert who can walk through the specifics with you, and help you feel confident in what you’re presenting to clients.

3. Involve adult children when appropriate. Families often have concerns rooted in old perceptions. Helping adult children understand how the loan works—what it does and doesn’t do—can go a long way in building trust and transparency. Many reverse mortgage professionals offer consultations that include family members, which can help everyone get on the same page.

4. Remember: it’s not one-size-fits-all. Reverse mortgages are incredibly flexible and can be tailored to fit different financial situations and goals. Whether a client is looking to age in place, buy a new home with no monthly mortgage payments, or simply create a long-term financial cushion, reverse mortgages can be an effective part of a broader strategy.

As financial planning continues to adapt to the realities of longer retirements and rising living costs, reverse mortgages are no longer a last resort—they’re a tool worth having in your toolbox.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving Fort Collins, Loveland, Greeley, Longmont, Dacono, Erie, Boulder, and surrounding areas across Colorado’s Front Range.  Click here to contact them and learn if reverse mortgage is right for you.