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Just my husband uses the iMac too. He knows how to get into his account
 
Is it necessary to log out or not?
No, but unless its in a 100% location you can have it sleep after x minutes and require a password to log back in.

Whether you shut it down overnight is a matter of taste.
 
Just my husband uses the iMac too. He knows how to get into his account
If it makes it easier on both of you, turn on Fast User Switching. You'll both remain logged in and then it's just a matter of switching users from the menubar or control center. No more having to log a person out and another in and vice-versa.

PS. Not an iMac specific thing, but I've left all my Macs on 24/7 and PCs before that since the early 90s. I don't like waiting for stuff to boot up.

And for some other specific reasons with one particular Mac, I don't even have screens turn off. It stays on screensaver when I'm not using that Mac.
 
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If you are in a household with several people, it's customary to treat it as if you are in an open office, for security reasons.
 
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I run a two screen system - a Dell hosts a todo list, my calendar and a tabbed safari window with bits of social media. When I put the system to sleep through the apple menu, on wake-up those windows have moved themselves to the main screen. If I just use a hot corner to start screen save and leave it then they stay where they are. So I just walk away from it and it eventually sleeps of its own accord and I'm happy when it wakes up.
 
Depends on where you are.
If it's at work... you might want to log out.

At home?
I just put the screen saver on (push pointer to upper right corner).
If I'm going to be away for longer, hour+ ... reach around and turn off display.
If I'm going to be out of the house for a while ... shut the Mac down and turn off my power strip.

What works... for YOU.
 
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