Healthy aging advocate and beloved broadcaster Judy Bailey interviewed Tim & Kathryn about how he funds his retirement.

After a long career in the livestock industry, Tim looked forward to a well-earned retirement. Nearly a decade ago, he and his wife settled into life in Taupō, enjoying the comfort of their home and a slower pace together.

But retirement didn’t unfold as they had hoped.

Tim’s wife was diagnosed with dementia, and over time her care needs became more complex. For three and a half years, Tim cared for her at home. Eventually, however, the level of support required meant she needed to move into full-time care.

The cost of ongoing care created a new financial reality. Like many families in similar situations, they were faced with a tough choice: sell the family home or find another way to fund care.

That’s when they began exploring a reverse mortgage through Heartland Bank.

With guidance from their bank and accountant, Tim and his daughter Kathryn looked into how it worked and whether it could meet their needs.

For Kathryn, being part of the decision was important, not just financially, but emotionally.

For Kathryn and her sisters, that made all the difference.

“We’re really happy. I’m one of four girls. We obviously want dad to enjoy his retirement and to do the things that he loves to do. And now there’s peace of mind that Mum’s getting the care that she needs and Dad can continue living his life” says Catherine.

While Tim acknowledges there are costs involved, he values the structure and support that came with setting up the reverse mortgage.

Looking back, neither Tim nor Kathryn have any regrets.

“It was a lifesaver,” Kathryn says.