Delay Social Security to age 70: Most baby boomers full retirement age is 66. But by delaying their benefits until age 70, they’ll receive 132% of their benefit. Over half of them will live well into their early nineties, so the math is compelling.   Build a Social Security Income Bridge: Delaying Social Security benefits until age 70 makes real economic sense, but many boomers need a “bridging” strategy to get from age 62 to age 70. A reverse mortgage can generate tax-free income during those eight years that will help you get there. Roth Conversions Prior to Age 70½: Converting taxable retirement plans to tax-free income is a great concept if the conversion doesn’t increase your tax bracket. If the economics support this conversion strategy, then you may lower your overall tax obligations at age 70, including Social Security benefit taxation. Optimize Asset Distribution of After-tax and Pre-tax: Investment diversity is a major portfolio characteristic and tax diversity should be as well. Taxable income can be offset by tax deductions and exemptions. Tax deferred income can be delayed into the future, lowering your present taxable income. And tax-free income can be used when there’s no other asset available to   Read more…