Creating freedom in the time she had left

101 Uses for a Reverse Mortgage

Real stories. Real solutions.

Welcome back to our series, 101 Uses for a Reverse Mortgage, where we highlight the unexpected, practical ways Australians are using reverse mortgages to create security, freedom, and financial independence in retirement.

Each week, we bust the myths surrounding these loans by sharing real case studies* — no hype, no jargon, just real people solving real challenges with the right guidance and advice.

Case Study 6: Creating Freedom in the Time She Had Left

Client Profile:

• 57-year-old woman
• Long-term cancer diagnosis (limited life expectancy)
• Not married, no children
• Self-funded retiree from a family trust
• Living in a strata apartment in coastal WA, valued close to $2 million
• Annual income: $23,000
• Wanted additional funds for medical costs, lifestyle, and travel

Challenge

Our client came to us in the middle of a long and difficult health journey. Her cancer diagnosis was terminal, and while she still had some good time ahead of her, she didn’t want to waste it worrying about money.

She had modest annual income from a family trust and no dependents to leave assets to. Her financial goals were simple: she wanted to enjoy the time she had left, travel a little, and have enough cash flow to cover ongoing medical costs and live comfortably.

She’d considered selling her beautiful strata apartment, located in one of coastal WA’s most desirable suburbs — but emotionally, she just wasn’t ready to leave. And given the apartment was growing in value, selling now didn’t make sense financially either.

Solution

We helped her structure a reverse mortgage to give her exactly what she needed — security, control, and comfort.

She requested:

• A lump sum of $27,000 to refinance credit card debt
• An income top-up of $4,000/month for 5 years ($240,000 total)
• A $10,000 cash reserve for unplanned expenses

This gave her flexibility and peace of mind — without needing to sell her home or worry about making repayments. The loan will be repaid from the future sale of the property, at a time that suits her estate.

The Outcome

She now has:

• Zero credit card debt
• Reliable monthly income for the next five years
• Extra funds available for medical care, lifestyle needs, and some well-earned travel
• The freedom to stay in the home she loves

Most importantly, she’s no longer spending her time worrying about money — and can instead focus on enjoying life, on her terms.

Why This Matters

Sometimes, a reverse mortgage isn’t about protecting an inheritance or stretching retirement dollars.

Sometimes, it’s about making the time you have really count.

In this case, our client didn’t want to leave her home, and she didn’t need to. A reverse mortgage gave her the dignity of choice — and a solution that honoured both her personal wishes and financial reality.

This case study is based on a real client scenario. Names and identifying details have been changed to protect privacy. The information is general in nature and does not constitute personal financial advice. Outcomes described are specific to this client’s circumstances and may not be typical. Please seek advice tailored to your individual situation before making financial decisions.