“The biggest expense appears to be medical insurance. “
This is what worries me the most and why I’ll probably always work. Even if part time or as the Wall Mart Greeter.
Its just way to expensive and it may deplete the savings way before you pass on.
There is Obama’s PPACA.
You can get PPACA exchange health insurance subsidies if your household income is 100% to 400% of FPL.
There are a number of ways to get your income above 100% of FPL:
1. have a relative (or lady/male friend) with income move in
2. withdraw from your IRA
3. sell stock (or an interest in your home to your kids)
4. work part-time (such as minding relative’s kids)
5. rent a room in your home
6. hire your spouse and pay them taxable income
(you’ll be out FICA taxes)