Although inflation levels have dropped modestly over the past few months, living costs are still sky-high across the board. And consumers across a range of ages have been struggling to keep up.

Some workers, however, are now rethinking their retirement plans because of rampant inflation. Nationwide reports that 38% of women are currently reconsidering their plans due to the cost of living, while 26% of men are doing the same.

If you're getting close to retirement, you may be wondering if it pays to put off that milestone and wait for living costs to come down. The answer? It depends on your full financial picture.

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Source Fool.com