What if one financial tool could dramatically improve your peace of mind by expanding your retirement options? Jeff welcomes mortgage expert and author Ken Pitts, founder of Advisors Mortgage Services, to discuss his book, "Kinetic Wealth,” which he wrote to clear up misconceptions surrounding reverse mortgages. 

In its most simple terms, a reverse mortgage is an opportunity to access the equity in your home to help with monthly cash flow, emergency expenses, and retirement planning. Ken breaks down the basics: how reverse mortgages work, how they can delay IRA withdrawals, and how they can help pay for in-home care. If you’ve never considered a reverse mortgage as part of your retirement planning, this conversation just might change your perspective. 

Order "Kinetic Wealth” by Ken Pitts at https://kineticwealthbook.com/;  

Email Ken at kpitts@kpittsmortgage.com or visit https://www.kpittsmortgage.com/

 

WHAT YOU NEED TO KNOW

(00:00 ) Episode introduction. 

(04:04 ) Education is the antidote to “Confusion says ‘no.’” 

(06:56 ) Why are reverse mortgages so misunderstood? 

(08:52 ) Who can benefit from reading “Kinetic Wealth?”   

(12:39 ) What are the key benefits and qualifications for a reverse mortgage? 

(14:52 ) How well aligned are Pennsylvania’s Medicaid rules and federal reverse mortgage rules? 

(16:03 ) What was the federal government’s original intent for the reverse mortgage program? 

(19:18 ) The big myth of reverse mortgages: “They’ll take my house.” 

(21:10 ) What protections are available to a non-borrowing spouse? 

(24:16 ) Can the Internet be trusted as a resource to learn about reverse mortgages? 

 

ABOUT BELLOMO & ASSOCIATES

Jeffrey R. Bellomo, the founder of Bellomo & Associates, is a licensed and certified elder law attorney with a master’s degree in taxation and a certificate in estate planning. He explains complex legal and financial topics in easy-to-understand language.

Bellomo & Associates is committed to providing education so that what happened to the Bellomo family doesn’t happen to your family. We conduct free workshops on estate planning, crisis planning, Medicaid planning, special needs planning, probate administration, and trust administration. Visit our website (https://bellomoassociates.com/) to learn more.

 

LINKS AND RESOURCES MENTIONED

Bellomo & Associates workshops:https://bellomoassociates.com/workshops/

• Life Care Planning
• The Three Secrets of Estate Planning
• Nuts & Bolts of Medicaid

For more information, call us at (717) 845-5390.

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