For the last 3 years of his life, my FIL financially "lived" almost entirely on his SS and military pension. Both were COLAd unlike a small pension/annuity he also had from his civilian career. His original pension may have been meaningful in 1985 (or so) when he retired but it was irrelevant in 2011. COLA is the key.
His "living" expenses were entirely what was paid to the nursing facility where he spent his final years. He had annual portfolio withdrawals of less than $10,000 not including his and his wife's funeral expenses.
His "living" expenses were entirely what was paid to the nursing facility where he spent his final years. He had annual portfolio withdrawals of less than $10,000 not including his and his wife's funeral expenses.