an inflation rate of 2% means what costs $100 today will cost does your retirement plan account for inflation? financial connection out of bounds don't cash out your retirement savings without careful consideration retirement by suze orman marc royce woman asked about her hus- band's plan to cash out both of home as they near retirement although i believe that paying off savings is financially risky here's what i would ask her before taking this drastic step money you withdraw from a traditional making big withdrawals can bump can take a big bite out of what's left off a mortgage; if you are in the 22% tax bracket you will need to withdraw have you budgeted for property tax insurance and rising maintenance costs? add all of the fixed costs of staying ance and maintenance to other essential health care expenses not covered by benefits be enough? do you also have off the mortgage is your home a fit for an older you? take a clear-eyed look at whether your current home is a good place to get older lots of stairs? lots of upkeep? both become harder to navigate as you age if you aren't in an area with terrific public transportation or ride-sharing think not just about your own ability to they be able to visit as often? can you cover your essential fixed costs from guaranteed income? if you have enough guaranteed income to cover about 20 years from now? prices rise over how will you cover rising costs? suze orman is an emmy award- winning tv host new york times bestselling author and motivational answer selected questions in this that unpublished questions cannot be answered individually email connection acostco.com please de "financial connection" in the subject line twenty-something? time is your greatest advantage when it comes to investing invest $500 a month starting at age 25 and you will have more than $1.3 million by age 65 assuming a 7% annualized on your money but let's say you wait until land at 65 with the same $1.3 million you will need to save $2,500 a month-a total years.-so
