Ep 8: Reverse mortgage your home for cash after 60: Babu Krishnamoorthy, Finsherpa

Babu Krishnamoorthy, Chief Sherpa at Finsherpa Investment Services, talks about the option for reverse mortgage available for senior citizens in India, where they can earn monthly income from their property while still continuing to live in it. He talks to Anuradha Varma, Gen Seasoned co-founder, about its pros and cons, along with financial scenarios to anticipate a future income, even as he emphasises the need for prudent retirement planning. Krishnamoorthy comes with over 25 years of experience in wealth management, investment banking and retirement planning. Follow him on: LinkedIn Timestamps:01:10 What is a reverse mortgage?04:05 Who is it for?06:36 Requirements to qualify for a reverse mortgage10:04 An option while continuing to live in the same house 11:38 How long can this sustain you?14:05 The cons of a reverse mortgage16:20 The Indian mindset of leaving property for kids18:40 Reverse mortgage should be the last option22:40 Move with caution, plan well for retirementGet in touch at [email protected]: Views are personal. Listener discretion is advised.