Another thing about retirement... the body begins to break down. So, you need adequate insurance to take care of it. Medicare alone is worth poo. Every October 15 - December 7, insurance companies roll out their MedicareAdvantage and Prescription Drug Plans (PDP).
As soon as the person is eligible for Medicare, sign up for BOTH Medicare Part A and B. Then, start looking for the most cost-efficient MA or PDP plan. I worked for United Healthcare, and in most of the USA, we offered ZERO premium MA plans. I helped several Senior Citizens take a huge chunk out of their monthly medical costs simply by switching to our MA plans. The great thing about that is if you don't need it, you don't pay for it!
So, not only do you need to prepare for the financial side, you also need to take care of the health side.
TS