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Retirement is a world wide concern considering the cost of living increase and those planning to retire in the next 15 to 20 years need to prepare their financial state from now to be sure that their living expenses will be covered. Most major companies have retirement funds allocated for that eventuality however it's no guarantee that this will cover the needs of the masses in the next few years.

Medicare and federal health insurance programs are available to persons 65 and older and if you've contributed to the program you must register before your 65th birthday.

Medicare offers:

• Hospital insurance -Medicare Part A, which helps pay for hospital bills
• Medical insurance - Medicare Part B, which helps pay for doctor bills
• Prescription drug insurance -Medicare Part D, which helps pay for prescription drugs