Most of us would agree that having an open mind is beneficial. None of us can be experts on all products or concepts. While I am licensed to do “forward, traditional” mortgages, I liken myself to a patent lawyer who is asked to evaluate the appropriateness of reverse mortgage for a friend or family member. When I am asked about a traditional mortgage, I always refer it out to someone in that world rather than represent that I am proficient at it. I’m certainly not. I don’t do them because it would be a disservice to the client.
Thankfully, the attitudes among professionals like Financial Advisors, Attorneys, CPA’s, Traditional Loan Officers and other professionals who deal with senior clients is evolving. In short, those professions and anyone who chooses to be informed before sharing opinions are increasingly in favor of this terrific financial tool.
Here is an illustration of that evolution of thinking within the Financial Advisor community:
Contact me and I’ll get you up to snuff on this important consideration for seniors. Or to bring a Lunch and Learn into your office on my nickel. You will be surprised at what you don’t know. I’m certainly not equipped to give legal or investment advice. But this stuff I know.