Keep in mind to folks that medicare pays like 80% medical costs and you need to pretty much get a supplement that costs about what your work one would cost. So they will have to live on whats left. Where I live if you want to live in your own place and be at the level where nothing is to bad you need about 3k a month or 36k a year but you need more of that due to taxes so more like 50k a year. This is not an amount you can live luxurious on.