Welcome to our episode of “Caregiving Club On Air” podcast (S6, Ep 75) hosted by Sherri Snelling, corporate gerontologist, author and CEO of the Caregiving Club. On this episode we are highlighting October’s “Financial Planning and Long-Term Care Planning Month” with our expert guest, Ted Butler, host of the “Voice of Reverse Mortgage” podcast from the Mutual of Omaha. Reverse mortgages have been on the rise over the last decade – especially for women over age 70 who are solo agers. Sherri probes how this financial product for older adults works and how it can affect family caregivers and long-term care planning. Key Takeaways from the interview: • What is the eligibility to get a reverse mortgage, how does it work and what are the out-of-pocket costs you need to know? • The big advantage for older adults who have equity in their home and need cash now is you no longer have a monthly mortgage – but how does that work? • Be aware there are different types of reverse mortgage loans – some riskier than others – Ted explains pros and cons • What happens if you need to move from your home into memory care or assisted living? How does the reverse mortgage impact that decision? • How do reverse mortgages affect the family (especially the caregivers) and what do they need to know? This makes the family long-term care plan conversation important to have earlier rather than later. WATCH THE PODCAST ON YOUTUBE HERE: https://youtu.be/obXcPljmVfo Thank you for making “Caregiving Club On Air” #3 on the list of top 80 caregiving podcasts! Subscribe on your favorite listening channel or our YouTube channel. Learn more on our episode guide page on the Caregiving Club website: caregivingclub.com/podcast/ Take care and stay well!