A reverse mortgage lets you borrow money against the value of your property, only paying it back when you die or leave the home permanently.
The amount borrowed can be withdrawn at any time as a lump sum, regular income stream, a line of credit or a combination of these.
Before you jump in, think carefully about how the scheme will affect your current and future finances, and how it will impact your retirement lifestyle and any inheritance you want to leave.
Find out more at ASIC MoneySmart.