By Tyler Plack
Tyler Plack is the President of South River Mortgage. Tyler holds an active FHA Direct Endorsement (DE) underwriting certification and is the author of The Retirement Solution: Maximizing Your BenefitTyler is a seasoned entrepreneur and real estate investor renowned for his expertise in reverse mortgages and his commitment to addressing seniors' equity challenges. Tyler brings a unique perspective to his ventures, having built several successful companies throughout his career. His insights are frequently sought by industry publications, where he is recognized for his vast knowledge in the realm of reverse mortgages.
An avid investor in income-producing properties, Tyler is dedicated to helping seniors navigate their financial needs with compassion and expertise. When Tyler is not helping solve America's retirement crisis, he is a skilled pilot flying airplanes for fun.
Retirement is about more than paying the bills.
After years of working, saving, and raising a family, you may finally have the time to do the things you’ve always wanted to do.
Maybe you’ve dreamed of taking a cruise.
Maybe you want to spend a week in Hawaii.
Or maybe the trip you’ve been looking forward to most is a simple one: getting on a plane to see your grandchildren.
But travel costs money. And when you’re retired, spending thousands of dollars on a vacation may feel hard to justify.
That’s where your home equity may be worth a closer look.
What If Your Mortgage Payment Became Travel Money?
For many homeowners, the mortgage is one of their largest monthly expenses.
If you qualify for a reverse mortgage, you may be able to use the proceeds to pay off an existing mortgage. This can eliminate the required monthly mortgage payment.
That doesn’t mean the mortgage payment becomes “free money.” A reverse mortgage is a loan, and interest and other costs are added to the loan balance over time.
But it can change your monthly cash flow.
For example, imagine you’re paying $1,500 a month toward your mortgage.
That’s $18,000 a year.
Over three years, that’s $54,000 in mortgage payments.
What could that money mean for your retirement?
It could help pay for several trips to see family. It could help fund a dream vacation. Or it could simply give you more room in your monthly budget to enjoy retirement.
What Could Your Monthly Savings Pay For?
Travel costs vary based on where you go, when you travel, and how you travel.
The examples below use current 2026 travel cost ranges and are meant to show what your monthly cash flow could potentially cover. They are illustrations, not guarantees or quotes for any specific trip.
| Monthly cash flow freed up | 1 year | 2 years | 3 years |
| $500/month | $6,000 | $12,000 | $18,000 |
| $1,000/month | $12,000 | $24,000 | $36,000 |
| $1,500/month | $18,000 | $36,000 | $54,000 |
| $2,000/month | $24,000 | $48,000 | $72,000 |
Now compare those amounts with some popular trips.
| Dream trip | Approximate 2026 cost | $1,000/month could cover in… |
| Disney World — family of 4 | $5,500–$11,000+ | 6–11 months |
| Hawaii — family of 4 | $7,000–$10,500 | 7–11 months |
| 7-night Disney Cruise — family of 4 | About $8,900–$10,200 | 9–11 months |
| Hawaii — couple, mid-range | $5,000–$7,500 | 5–8 months |
| Europe — couple, 10 nights | $5,800–$9,200 | 6–10 months |
These are broad travel estimates. Actual costs can be higher or lower depending on your departure city, dates, hotel, airfare, and other choices.
The point isn’t that a reverse mortgage will automatically pay for a vacation.
It’s that changing your monthly cash flow may give you more room to enjoy the retirement you’ve worked for.
What About Credit Card or Other Debt?
Your mortgage isn’t the only monthly payment that can take money out of your retirement budget.
You may also have credit cards, personal loans, or other debt.
Depending on your situation, reverse mortgage proceeds may be used to pay off certain existing debts. This could reduce the number of monthly payments you have to make.
For example, imagine you have:
- $1,200 mortgage payment
- $400 in credit card payments
- $300 personal loan payment
That’s $1,900 a month going toward debt.
If a reverse mortgage could be used to pay off eligible debts, your monthly budget could look very different.
Again, the goal isn’t simply to borrow more money.
The goal is to look at whether your home equity could help improve your overall cash flow.
Maybe the Best Trip Is the One to See Family
A dream vacation doesn’t have to be a trip around the world.
For many retirees, the trip that matters most is seeing the people they love.
If your children and grandchildren live several states away, airfare, hotels, rental cars, and meals can add up quickly.
You might want to visit for a birthday.
A graduation.
Thanksgiving.
Or just because you haven’t seen the family in too long.
Having more room in your monthly budget could make those trips easier to plan.
Instead of saying:
“We can’t afford to go this year.”
You may be able to say:
“Let’s see when we can make it work.”
Are You Eligible for a Reverse Mortgage?
(Find out in 60 seconds)
You Worked Hard to Build Your Home
Your home may be one of the biggest assets you’ve built during your lifetime.
It’s where you raised your family. It’s where you’ve made memories. And it may now have significant equity.
A reverse mortgage can give eligible homeowners a way to access some of that equity while continuing to live in the home.
That money can be used for many purposes, including helping with everyday expenses, home repairs, debt payoff, or the things you’ve been waiting to enjoy.
Of course, a reverse mortgage has costs and requirements. You remain responsible for property taxes, homeowners insurance, home maintenance, and other loan requirements.
That’s why it’s important to look at the complete picture before making a decision.
You Don’t Have to Choose Between Your Home and Your Retirement
Some homeowners think they have only two choices:
Stay in the house and watch their spending.
Or:
Sell the house to access the equity.
A reverse mortgage may offer another option for eligible homeowners.
You may be able to stay in your home while using some of the equity you’ve built over the years.
That could mean more flexibility in your retirement budget.
And maybe flexibility means something more important than a number on a bank statement.
It could mean more time with family.
More experiences.
More memories.
And maybe finally taking the trip you’ve been talking about for years.
Is a Reverse Mortgage Right for You?
There’s no one answer for everyone.
A reverse mortgage may make sense for some homeowners and not for others.
Before making a decision, consider:
- How much equity do you have?
- How much are you paying each month toward your mortgage?
- Do you have other debts?
- How much income do you need each month?
- Do you want to stay in your home?
- What are your plans for the home in the future?
- How important is leaving the home to your heirs?
The right answer depends on your goals.
But if you’ve spent years building equity in your home, it may be worth asking:
“Could my home help me enjoy more of my retirement?”
And if the answer means more trips, more family visits, and more memories, that’s a conversation worth having.
If you’d like to see what a reverse mortgage could look like for your situation, check your numbers here or talk with our reverse mortgage experts at (888) 249-5651. You can explore your options and decide whether it makes sense for you.
Frequently Asked Questions
Can I use reverse mortgage money to pay for a vacation?
Yes. Reverse mortgage proceeds can generally be used for any purpose you choose, including travel. Some homeowners use their funds for vacations, family visits, home repairs, or other retirement expenses.
Can a reverse mortgage eliminate my monthly mortgage payment?
If you have an existing mortgage, a reverse mortgage may be used to pay it off at closing. This can eliminate your required monthly mortgage payment. However, you will still need to pay property taxes, homeowners insurance, and maintain your home.
How much could I save each month by paying off my mortgage?
It depends on your current mortgage payment. For example, if you pay $1,500 each month, that’s $18,000 a year that could potentially be available for other expenses. Your actual reverse mortgage costs and available proceeds will depend on your situation.
Can I use a reverse mortgage to pay off credit card debt?
In many cases, yes. Reverse mortgage proceeds can generally be used to pay off eligible debts. Paying off high monthly debt payments may give you more room in your retirement budget.
Can I use a reverse mortgage to visit my grandchildren?
Yes. There are generally no restrictions that require reverse mortgage proceeds to be used for a specific purpose. You could use the money to help pay for airfare, hotels, rental cars, or other travel costs.
Do I have to take all of the money at once?
No. Depending on your reverse mortgage, you may have different ways to access your available funds. These can include a line of credit, monthly payments, a lump sum, or a combination of options.
Will I still own my home?
Yes. You remain the homeowner. However, you must continue to meet the loan requirements, including paying property taxes and homeowners insurance, maintaining the home, and living in it as your principal residence.
Is a reverse mortgage free money?
No. A reverse mortgage is a loan. Interest and other costs are added to the loan balance over time. That’s why it’s important to understand the costs and consider how a reverse mortgage fits into your long-term plans.
Is a reverse mortgage a good way to pay for a vacation?
A vacation alone may not be a strong reason to take out a reverse mortgage. However, if you’re already considering a reverse mortgage to improve your retirement cash flow, pay off an existing mortgage, or access home equity, travel could be one of the many ways you choose to use the money.
How do I know if a reverse mortgage makes sense for me?
Start by looking at the big picture. Consider your home value, mortgage balance, monthly expenses, retirement income, debts, and long-term goals. A reverse mortgage specialist can help you understand your options so you can decide whether it’s right for you.
