Don't really understand this question...why would you consider going into hock if you don't have to? As for living, by the time we reach 65, we have had everything we ever wanted, find no value in junk things to buy...living debt free is very easy....and you will always have your home to fall back on should you need cash (reverse mortgage). When you retire, sign up for both Medicare A AND B...that will end your medical worries. None of us can plan for every contingency, but we do our best and just go with the flow.
Do NOT cancel any credit card you have, just don't leave balances on them month to month! (cancelling a credit card hurts your FICO, believe it or not! ) And do NOT apply for all those store credit cards they try to talk you into (20% off your purchase today if you sign up for card...etc.) That can put a dent in your FICO quickly. And do not plan on financing cars! Buy what you can afford (I always buy used, the cars I have had never gave me any problems, no need in wasting 5K-10K driving the car off the lot! ) Good luck