6 Achievable Bucket List Items To Embark on With Your Reverse Mortgage [2022]

A Home Equity Conversion Mortgage is insured by the Federal Housing Association and is different than a traditional mortgage. It is a mortgage loan that is typically secured by the loan borrower’s primary residence, which allows the borrower to access the equity value of their home, tax-free.

Because of this, borrowers have more financial freedom, giving them access to funds that can be spent on things that previously were not a financial priority.
A reverse mortgage allows you to start experiencing those opportunities now!

What Are The Benefits Of Home Equity Conversion Mortgages (a.k.a Reverse Mortgage)?

This type of mortgage, also known as a reverse mortgage, does not require monthly mortgage fees. A reverse mortgage loan allows homeowners to access the equity that their property has built up. Once someone becomes a borrower, they don’t have to pay off the loan until they move out, sell the home, or pass away.
Reverse mortgages are beneficial because they smooth out your income by removing monthly payments for your mortgage, leaving borrowers responsible to pay property taxes, homeowners insurance, and any maintenance servicing fees necessary.

Reverse mortgages are perfect for people who would like to stay in their own home and feel secure with the knowledge that their financial needs are managed.

Idaho Reverse Mortgage can provide you with more financial freedom by helping you benefit from your home value. Borrowers have the opportunity to convert the equity in their home to cash, and without monthly fees fluctuating your income, you have more money to spend on the things you enjoy!

What is a Bucket List?

Do you have a mental list of all the things you want to experience in your life? This is what a bucket list is!
By definition, a bucket list is a number of achievements a person wishes to achieve in their lifetime.
To celebrate this exciting time where you don’t need to be worried about money, we have compiled a list of 6 bucket list items to inspire reverse mortgage borrowers to start living their life to the fullest!

1. Lifetime Destination

Is there a place you have always wanted to visit but never found the right time to?
Thanks to your new reverse mortgage plan, now is the perfect time to research places you long to visit.
Don’t just research them— make the intention to bring the trip to fruition!

Utilizing travel services such as Expedia and Tripadvisor can help with acquiring flights, hotels, and rental cars. These make it easy to book the trip of your dreams and bring it to reality!

Not Sure Where To Go?

If you have the itch to travel but aren’t sure exactly where you would like to go, there are YouTube videos highlighting the best cities in a multitude of countries that can provide some inspiration.

Traveling does not have to be expensive, there are a variety of ways to visit amazing places without spending a fortune.

2. An Adrenaline Pumping Activity

Nothing makes you feel more alive than a good rush of adrenaline. Activities that push us out of our comfort zone can provide this source of excitement.

There are numerous excursion opportunities available to you. Each of them can become the experience of a lifetime that you will look back on forever. Depending on where you live, these activities may even be local!
Due to your reverse mortgage, you have the funds to spend on adrenaline-inducing excursions.

White Water Rafting

White water rafting is a perfect summer activity if you live near the mountains or a river. It is the perfect outdoor activity to experience with a group of friends or your family.

Rafting tours typically take a few hours to complete the whole course. This all-day event is completely free from technology, meaning it’s perfect for spending time with others face-to-face.

If you live near the Treasure Valley, Horseshoe Bend has some amazing opportunities for white water rafting. Check out Cascade Raft & Kayak and Bear Valley Rafting!

Ziplining

There is nothing more thrilling than flying through the trees or over a body of water. Ziplining makes this experience possible.

This bird-like excursion is perfect for nature lovers. Standing among the trees and getting to see them from a bird’s eye view provides a truly beautiful view.

Horseshoe Bend gem Zip Idaho provides a breathtaking experience that will definitely get your blood pumping. Utilize their services here!

Skydiving

If you are looking to go for the extreme, skydiving is one of the most adrenaline-inducing activities you can experience in your lifetime and your reverse mortgage makes this possible.

Jumping out of a plane thousands of feet up in the sky sounds wild to the average person. Calling all adrenaline junkies–this is for you!

3. Experience the Arts

Perfect for a date night or as a way to unwind, attending a live show is a fun and moving experience that will make you appreciate the arts. There is something special about seeing your favorite musical artist in concert or watching a play of your favorite story.

Concerts

If safe to go, there are a multitude of local bands performing concerts at an affordable price. If you love live music, try attending a show for a musician you’ve never heard of!
Who knows, you might just discover your next favorite artist.
Even better, you can now spend the money you save due to your reverse mortgage on seeing your favorite artist.

Broadway and Local Playhouses

For those who love big productions, Broadway shows are a special experience with talented actors and musicians that will make you admire the talent and work that goes into shows of this magnitude.
After you embark on life with a reverse mortgage, you are able to pay for extravagant shows that you are guaranteed to enjoy.
You can make a whole weekend of it, especially if you have always wanted to visit New York City.

If the trek to New York doesn’t quite suit you, many cities offer local playhouses that put on regular productions.

Museums and Exhibits

Museums and exhibits are a great way to get out of the house and learn about history. Local museums typically feature artifacts found in your area from long ago.

If you are looking to have some me-time, spending the day at a museum is a great way to enjoy your own company and experience some amazing exhibits.

4. Pick Up a New Hobby

A reverse mortgage allows you to cut back on working, which means you have more free time on you hands. You now have the opportunity to pick up a skill you’ve always wanted to learn, or you can also revisit a hobby you haven’t practiced in a while.

The key to living a healthy and balanced life is having 3 hobbies:

One that keeps you active
One that expands your knowledge
One that allows you to be creative

Something Active You Enjoy

Hobbies that are active are perfect for keeping you moving. If the activity is something you enjoy, it might not even feel like exercise!

Active hobbies can include hiking, biking, and swimming–to name a few. The benefit of having a hobby that keeps you active is that you are bettering your physical health, while also improving your mental health.

Informational Inflow

Having a hobby that expands your mind can foster your inner curiosity and create new passions in your life. Discovering new information keeps us engaged in the world around us.

With more free time entering your life, you have the chance to explore ideas you previously couldn’t. This can come in the form of reading, researching, or watching documentaries about topics you enjoy.

With the increase in financial freedom due to your reverse mortgage, you can purchase materials to help you become an expert on any topic of interest.

Let The Creativity Flow!

This can be a multitude of things. If you don’t consider yourself a conventionally creative person, that’s okay!
Being creative doesn’t necessarily mean painting or drawing–it can also mean building, photographing, or cooking. The financial perk of a reverse mortgage allows you to purchase new building equipment, a new camera, or new cookware.
This is the perfect opportunity to let your creative side come forward and express itself.

5. Volunteering

After beginning your reverse mortgage, you will have more free time on your hands. This is a great opportunity to give back to your community by offering your services to causes that need it.

If you want something to do and like helping others, try volunteering! It is a rewarding experience that accomplishes both.

Volunteering can be a one-time event or a recurring activity you can add into your weekly schedule.

6. Take your family on a trip

Sometimes the most rewarding feeling is paying yourself in experiences and memories.

Traveling with family and friends creates a memorable experience that you will all look back on for years to come.

You don’t have to travel to a far destination! Simply going on a road trip to a town a few hours away can be enough to make it feel like you’re far from home. Spending quality time with the ones you love provides priceless opportunities and is one of the most rewarding things you can do.

Take this time to experience something you never have! Look into what the city you’re traveling to has to offer as part of its own culture.

Reverse mortgages have the ability to make your life easier. At Idaho Reverse Mortgage, our goal is to help provide you with the opportunity to live your life free of financial stress! Become a borrower today by visiting our website where you can learn more about our extraordinary team and exceptional services!