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Does anyone have experience with reverse mortgages?

I went to this website and did a quick estimate.

It seemed that the amounts potentially available were very low.

For instance, if DW and I own a home worth $1M, the amount available would be a lump sum of $137k, or a monthly payment of $865.

A lot of our portfolio is in real estate, and I had been considering looking at the possibility of a reverse mortgage as a substitute for an emergency fund, but I suspect it is time to dump that plan and just go with the old-fashioned earn more, save more.
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