Can't live on it Jl

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Jl I'm retired and live on less than $40K a year

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So less than 40K a year is fine for you, but 60K won't make it here??? Well...OK then.

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Originally Posted by jlisenbe

So less than 40K a year is fine for you, but 60K won't make it here??? Well...OK then.

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I am one person, living in a rural area and having little expenses. My medical is taken care of and I don't travel much. I give the lie to the modern idea of retirement funding which suggests you need 60% of pre retirement income. I pay no income tax, courtesy of government policy. This is what happens when you take the burden off the low end of the income spectrum and shift to taxation of outgoings rather than income. Many things become possible

Don't really know what else to tell you. 60K here won't buy a couple a mansion on a hilltop, but it is FAR above poverty, and sensible people can do well on that.

$60,000 for a family of 4 or more is not THAT far from poverty. Big difference between singles and households. It's a lot more complicated and complex than just a dollar figure.