Ive just retired here, and although costs are higher here you dont need a car and all the costs associated with running one. You can get by pretty well on $2k/month it really depends on how much you want to pay for accomodation. If you buy local produce and drinks this saves , buying imported anything costs much more , such as wine ive seen as much as a 6 fold difference in wine prices. Also depends on if you buy or rent a home. Property prices are high here on the Island