You really need to see this.  Watch it on YouTube
https://youtu.be/c0XKcsCaOtA?si=jYGx8adp0lb9pxzZ
Having hobbies is good for the soul.  Some hobbies are fairly inexpensive and don't require much.  Others, however, involve toys with expensive price tags and cost a lot to do.  Many people take up new hobbies once they retire and have more time to enjoy them.  What excites you?  And are you doing enough of it?  Is it sailing?  Taking cruises?  Traveling in an RV?  Horseback riding?  Golfing adventures?  Fishing excursions?  What is it that is holding you back from experiencing more fulfillment and enjoyment in your retirement years?  Is it money?  Are there hobbies you'd like to try but just don't have the extra cash for them?  The question is, can you use the funds from a Reverse Mortgage for hobbies?  The answer: YES.  
In this episode we explore HOBBIES, most of which will bring you laughter and maybe puzzlement.  Again, we might poke some fun at these ideas, but the bigger picture is to start dreaming about things you'd like to be doing in retirement and start taking steps to realize these dreams.

Will you outlive your retirement assets? An Allianz study showed that "61% of the respondents said they were more scared of outliving their assets than they were of dying". We explore this fear and show a practical solution, given through an article entitled 'To Reduce the Risk of Retirement Portfolio Exhaustion, Include Home Equity as a Non-Correlated Asset in the Portfolio' by Philip Walker, Barry Sacks, and Stephen Sacks. See how this simple strategy can add security and longevity to your retirement portfolio. The surprising results are powerful, and are easy to implement.

Reverse Mortgage Myth #10: Reverse Mortgage Lenders Took Advantage of Seniors. Fact: TRUE However, with the Reverse Mortgage Stabilization Act of 2013, everything changed. Seniors who fell victim to reverse-mortgage-lending schemes are now the extreme exceptions. As with any mortgage you should only work with a reputable lender. We also recommend that you protect yourself by conducting as much research as possible and by consulting government agencies, financial advisors, and the National Reverse Mortgage Lender's Association (NRMLA).

Reverse Mortgage Myth 9: There Are No Objective Advisors Available To Counsel Seniors Trying To Decide If A Reverse Mortgage Is A Smart Decision. Fact: False Borrowers are required to complete independent, third-party counseling approved by the U.S. Department of Housing and Urban Development (HUD). This local educational session allow them to ask questions and helps them make the right decision for their unique situations.

Reverse Mortgage Myth # 8: A Reverse Mortgage Will Affect My Government Benefits Fact: Mostly False First, it’s important to note that proceeds from a reverse mortgage are not considered income. A reverse mortgage generally does not affect regular Social Security or Medicare benefits. However, if you are on Medicaid, any reverse mortgage proceeds that you receive would count as an asset and could impact Medicaid eligibility. To be sure, we always recommend that potential borrowers consult their federal benefits administrators or financial advisors.

Reverse Mortgage Myth #7: If I outlive my life expectancy, the lender will evict me. Fact: FALSE Reverse mortgage lenders put no time limit on how long borrowers can stay in their home. Since homeowners still own the property, lenders cannot evict them as long as the borrower continues to live in and maintain the home, and property taxes and homeowners insurance are paid. And because HECM loans are "non-recourse," you and your home are safe even if the home value drops below the loan balance.

Reverse Mortgage Myth #6: Only Low-Income Seniors Get Reverse Mortgages Fact: FALSE Although some seniors may have a greater need than others for the monthly proceeds or lump sum funds reverse mortgages offer, most simply prefer to be free of monthly mortgage payments. Without a payment, many homeowners find they can improve their existing quality of life and build their savings to help with future expenses. A growing number of people who have no immediate need secure reverse mortgages as an "insurance policy" and so that they have a financial cushion for future expenses. Those who don’t need the funds immediately usually keep all available proceeds in a Line of Credit, that begins compounding and growing day one, and can be accessed as needed after the first year.

Reverse Mortgage Myth #5: My children will be responsible for the repayment of the loan. True, just like any other mortgage. If the borrower decides to sell the home or an heir wants to retain the property after the borrower passes, the loan balance must be paid in full. However, if the borrower or their estate sells the property to pay off the debt, there is no recourse even if the reverse mortgage loan balance exceeds the home’s value. You can never owe more than what the home is worth. This is one of the standard protections offered by FHA loans. Any equity remaining in the property after the reverse mortgage is retired belongs to the borrower or their estate.

Reverse Mortgage Myth #4: I cannot get a reverse mortgage if I have an existing mortgage. Fact: False If your house isn’t paid off, the proceeds from the reverse mortgage pay off any existing mortgages. Granted, you will need enough equity in order for this to work. Typically it’s around 60% equity, depending on your age.