Delaying when you take Social Security is my number 1 recommendation for folks considering retirement. There simply is no better form of income than Social Security.

For one, it's guaranteed by the Federal Government. Can't get any safer than that. Yes, the Federal Government has funding issues. But, trust me, if you think other sources of income are more reliable than the government you are missing the big picture. How do you think insurance companies fund their obligations?

They own MASS amounts of US Government debt. So, Social Security is an annuity straight from the source, the Feds.

2. Social Security is an annuity with a COLA. Each year you get paid more. Most annuities I run from a private source, like an insurance company, the COLA adjustments are not worth the decrease in income you get now, and for many years to come.

3. Social Security is taxed MUCH more favorably than any other source of income.

Don't believe me? Run two tax scenarios. Scenario 1: $40k Social Security income and $20k IRA income. Scenario 2: $20k Social Security and $40k IRA.

You'll see a huge difference in taxes owed.

4. If you're married, you're going to leave to your surviving spouse either the greater of YOUR benefit or his/hers. Thus Social Security is inherently a life insurance policy too.

So, with all these given's it boggles the mind more folks don't wait to take Social Security. But one reason for that is pretty clear, where does the money come from to live on while they wait to take it?

And that's where the beauty of a reverse mortgage comes in. If you have equity in your home, tap into it while you're waiting to take Social Security at a later date.

It's a wonderful strategy. In fact, I'll show you a case study, not performed by me mind you, but a guy I'm familiar with, runs to show you the value of the reverse mortgage and delay Social Security strategy.

It's tough to beat.

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