Any retirement suggestions

If he is eligible and you are financially set, I say go for it. Just make sure he has a project or something to keep him busy as he will now have a lot of time on his hands.

I retired on May 1st and no regrets. I love it.

A long way from retirement here, but here is what I have heard others suggest.

Use the income you would get from your retirement accounts/S.S. and live only on that for a year. Then funnel the additional money into a separate account. See how it feels to live only on that money and the changes you have to make to do so.

lolakimono: When we decided it was time for me to quit my job we lived on his salary alone and banked mine. At the end of the year we knew we could do it and I quit my job.

My husband will be very busy. We heat this house w/ wood and he is busy cutting wood. We now have enough for the winter. We have also talked about what to do when cutting wood is a problem for him. One is cut on shares or purchase a more efficient furnace.

We are not retired but dh is 74....I am 15 years younger and we are self employed. He has no deisre or plans to retire, but he does not have any hobbies and would be very bored if he did not have work to go to every day. If your husband thinks he will be happy and you can afford it..then he should do it.

Things often turn out much differently than what you planned for or might have expected.

Dh got very sick with a chronic illness in 2012 just before he turned 60. He had to go on disability for a year but got well enough to return to work in 2013. However while he was gone his company was sold and after being back for almost a year they decided to lay him off as he was about to turn 62.

At first he tried to look for work and even considered consulting (he's an engineer), but the symptoms of his illness starting creeping back and he then had to focus on his health instead of the job hunt. During this time what helped was a decent severance package and unemployment. As his health deteriorated he applied for SSD and got it after 5 months.

It can be so unsettling when you just don't know how things are going to go...I was worried about his health (I still am) and our finances. Thank goodness we saved a decent amount for retirement! Before all of this happened I really had no idea how much we needed to save...only as much as we could realistically. I had no idea how the financial side of retirement worked.

We're also very lucky to have an excellent independent financial advisor. Once we discussed finances with our advisor we were able come come up with a plan. The plan is to have our money grow while getting a set amount each month though sometimes we might need more (we just had our roof replaced).

So here we are...between some interest income, DH's SSD and my home business (I took it up a notch) we're bringing home what we did when DH was still working.

Sometimes I do wish he was still working because he is always here! When he's feeling good he works on projects around the house with the intention of getting it in great condition to eventually sell. I'm really not ready for that yet. My kids and friends are here and I like my house and neighbors....besides I have no idea where to go!

We have found the busier we are the happier we are. DH & I both volunteer plus try to be available to help out friends and family as much as we can since we are able and have the time. We try to keep a good attitude. We stay active physically as much as possible too. We do not have a huge amount of money put away and we can't do extravagant things but we feel we can be comfortable for the remainder of our lives on what we have. We moved to Florida 4 years ago and 2 separate old friends who visited us loved it here so much they have since moved here too. It is so nice to live in paradise and have some of our old gang nearby too.

Medicare

Medicare offers comprehensive health insurance coverage to people 65 and older. But the decisions and choices you face can be confusing and overwhelming. Here's our step-by-step guide for getting the most out of Medicare.

Medicare comes in three parts:

· Part Acovers hospital inpatient care, some types of home health care, hospice care, and care in skilled nursing facilities. There is no premium for Part A if you or your spouse has earned at least 40Social Securitywork credits.

· Part Bcovers doctor services, outpatient hospital care, preventive care, and some types of home health care. You have to pay a monthly premium for Part B. In 2014, it's $104.90 for individuals with an income of less than $85,000 a year and couples with an income of less than $170,000. Higher-income beneficiaries pay more.

· Part C, also known as Medicare Advantage, is an alternate way of getting your Part A and Part B benefits. Instead of the government paying your provider directly, Part C plans are run by Medicare-approved private insurance companies.If you elect to get your benefits through Part C, you must also be enrolled in Part A and Part B.

· Part Dcovers prescription drugs. This is an optional benefit that is only available through private insurance companies. MostMedicare Advantageplans include Part D.

For details on exactly what each part of Medicare covers, seeMedicare's website.

No matter how you choose to receive your Medicare benefits, you will receivecertain preventive servicesfor free, such as immunizations and screening tests for breast and colon cancer.

· Health insurance buying guide

· Compare health insurance plans