The view of the foothills from Brenda’s back porch in Lakewood has been her constant for 30 years. It’s where she and her husband, Dave, drank their morning coffee, watching the seasons change on Green Mountain. After he passed, this house, with its familiar rooms and blooming garden, became her anchor.

But lately, a different kind of "what if" has been drifting in with the evening breeze, questions that are more persistent than the afternoon thunderstorms.

Brenda is a planner. She’s a practical Coloradan, through and through. She and Dave worked hard, saved, and built a comfortable life. But at 79, she’s wise enough to know that even the most carefully laid plans can be tested by the realities of time. The "what ifs" have started to echo in the quiet moments.

• “What if I need help one day? Not just a little help, but real, daily care?”

• “What if my savings, the money I’ve protected my whole life, aren’t enough?”

• “What if I have to sell this house—my home—to afford a facility?”

• “What if I become a financial burden on my kids?”

These aren't just hypotheticals. Brenda has seen the articles and heard the news. In Colorado, the numbers are sobering. A recent survey shows the annual median cost for a home health aide in Colorado is now over $96,000. An assisted living facility can be more than $70,000 a year. And a private room in a nursing home? That can climb to over $139,000.

Her savings are healthy, but looking at those figures, she can do the math. She sees how quickly a lifetime of discipline could be erased. She’s heard friends talk about Health First Colorado, the state's Medicaid program, and the requirement to spend down nearly all your assets to qualify. The thought of losing everything she and Dave built just to get care felt like a surrender.

That last "what if"—becoming a burden on her children—is the one that truly stings. Her kids have their own families, their own mortgages in this expensive state. The idea of them having to sacrifice their own futures to secure hers is simply not an option in her mind.

Finding a Colorado Solution in an Unexpected Place

It was during a conversation with her financial advisor that a new idea came to light, one she hadn't truly considered before: a reverse mortgage.

Brenda was cautious at first. She’d heard the myths. “Doesn’t the bank take your home?” she asked, echoing a common fear.

Her advisor smiled and gently walked her through the facts. He explained that with a reverse mortgage, she would always retain ownership and title to her home. She wasn’t selling it. She was simply accessing a portion of the equity she had spent decades building, turning it into a powerful financial tool.

Suddenly, her Colorado-sized "what ifs" started to have solid answers.

• What if my savings aren't enough?A reverse mortgage could provide a standby line of credit. This wasn't cash she had to take at once; it was a safety net she could draw from only if she needed it. This meant her other retirement accounts could remain untouched, serving as her primary nest egg. The loan proceeds are generally tax-free, and she wouldn’t have to make a single monthly mortgage payment.

• What if I have to leave my home?This was the most comforting answer of all. The funds from a reverse mortgage could be used to pay for in-home care, allowing her to “age in place.” She could hire the help she needed to stay right there in her Lakewood home, tending her garden and watching the seasons change. The home wasn't the thing she'd have to give up; it was the very thing that could fund her independence.

• What if I become a burden on my kids? By setting up a plan using her own assets, Brenda was taking control. The loan is typically repaid from the sale of the home after she no longer lives in it, ensuring her children wouldn't be saddled with monthly bills or have to dip into their own funds. Any remaining equity in the home would still go to them. It was the ultimate act of self-reliance and a gift to her family.

For Brenda, the reverse mortgage wasn't a last resort. It was a proactive strategy. It was the tool that allowed her to look her "what ifs" in the eye and feel a profound sense of peace. She had a plan, a smart one, that protected her, her home, and her family.

And tonight, when the sun dips behind the foothills, she’ll be able to enjoy the view without the shadows of worry.

A Quick Note on the Stories We Share

The story of "Brenda" is a fictional representation based on the real-life situations and concerns of many Colorado seniors. The names and specific details have been created to illustrate the kinds of challenges families face and the potential solutions available.

Important Legal Disclaimer

This article is for informational and educational purposes only and is not intended to be financial, legal, or tax advice. A reverse mortgage is a loan. Interest will accrue on the loan balance, and the loan must be repaid when the last surviving borrower sells the home, permanently moves out, or passes away. The borrower must continue to pay for property taxes, homeowners insurance, and home maintenance. Before obtaining a reverse mortgage, all borrowers are required to receive independent counseling from a HUD-approved agency.

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