First of all, understand that a hospice social worker career won't make you rich. On the other hand, you probably won't have to eat Ramen seven days a week. After all, you'll likely have a Master's Degree in Social Work, which should mean you'll make more than bachelor's degree-holding social workers.
Now for the bottom line. In 2012, the average hospice social worker salary was about $50K per year. Of course, salaries can vary in different regions of the country; and can even vary in different facilities within the same region.
Your salary can also fluctuate depending on your experience level. In 2010, for example, hospice social workers with less than twenty years of experience grossed around $45K. When the hospice social workers crossed the magic 20-year line, their median salary jumped to $50K or more per year.
Now consider your life in the top tier of hospice social workers. You probably won't have your own private Caribbean island. However, your $50K-plus salary will allow you to live in a nice suburban home or upscale city condo. If you manage your income wisely, you can drive a good, mid-range car, and even visit the Caribbean on vacation. Of course, if you spend all your spare dollars on lottery tickets, all bets are off.