A few days ago I wrote about the value in reverse mortgages.  But they're not for everybody.  You have to check the numbers.  See what you could do if you sold your home, moved into a rental or lower priced home, and invested your money in Treasury bills.  If you take out a reverse mortgage, automatically you'll lose 20% of your equity.  If you sell, you'll have access to 100% of it.  But there are cautions here too.  Check with a local real estate agent to see what your house is worth.  You don't want to do the figures if you don't have accurate data.  Also check out what it would cost to take out a reverse mortgage.  Significant costs may make you think twice. 

If you need the cash another iidea is to take out a home equity loan.  Of course, you'll have to make payments on it, which makes it significantly different from a reverse mortgage.

Check out all the options before doing anything that may jeopardize your retirement financial situation.