The poorest countries can hope to catch up if they establish the basic economic institutions (starting with propertyrights and the rule of law) and do lots of other things right.
Those institutions include sound money, private propertyrights protected by the rule of law and limited government, interest rates and other relative prices that are free to move in line with market forces, and taxes and regulations that do not destroy incentives to work, save, and invest.
That includes reverse mortgages, in which homeowners sign over property to financial institutions and, in exchange, receive lifetime monthly payments and residence rights in their homes.