A 61-Year-Old With $345K In Retirement Savings Wants To Cash Out To Buy A $520K House — Suze Orman Says 'No Way, Not On Our Watch'

Core Insights - The article discusses the financial dilemma faced by an individual named Susan, who is contemplating using her retirement savings to purchase a home after a significant life change [1][2] - Financial expert Suze Orman advises against making major financial decisions immediately following emotional upheaval, recommending a period of reflection and caution [4][6] Financial Situation - Susan co-owns a home valued at approximately $520,000, holding a 25% share worth around $130,000 in equity [2] - She has an emergency fund of $25,000 and $345,000 in retirement accounts, including a Roth 401(k) and IRA [2] - With an annual income of $110,000 and no debt, Susan has a solid financial foundation [2] Recommendations - Co-host KT suggests renting for a couple of years instead of rushing into another home purchase, given Susan's strong financial position [3] - Orman supports this view, emphasizing the importance of avoiding major financial decisions for at least one to two years after a relationship loss [4] - Orman highlights the current real estate market conditions, noting that it is no longer a seller's market and that falling home prices make it premature for Susan to lock in a new property [5] Retirement Fund Concerns - Orman strongly advises against using retirement funds to buy a home, labeling it as an unwise decision [6]