If your savings and pensions don't guarantee a comfortable retirement, and extra cash could buy you peace of mind, this might be the answer.

It's a simple way to use equity you've built up in your home to get a guaranteed source of income, with no restrictions on how the money is spent, no obligation to pay it back, and no risk of losing your home, no matter how long you might live.

We don't think you should plan on a reverse mortgage as your primary source of retirement income. There are significant costs and it's no substitute for a corporate or government pension check, and a well-funded 401(k) or IRA.

But more than 76,000 senior citizens got a federally insured reverse mortgage in 2006, up from 6,637 in 2000. Should you consider one?

Click here to learn more about how reverse mortgages work and whether they're right for you.