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    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #141

    Jan 10, 2021, 07:17 PM
    Can't live on it Jl
    jlisenbe's Avatar
    jlisenbe Posts: 5,019, Reputation: 157
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    #142

    Jan 10, 2021, 07:20 PM
    Jl I'm retired and live on less than $40K a year
    So less than 40K a year is fine for you, but 60K won't make it here??? Well...OK then.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #143

    Jan 10, 2021, 08:42 PM
    Quote Originally Posted by jlisenbe View Post
    So less than 40K a year is fine for you, but 60K won't make it here??? Well...OK then.
    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
    jlisenbe's Avatar
    jlisenbe Posts: 5,019, Reputation: 157
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    #144

    Jan 11, 2021, 09:07 AM
    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.
    talaniman's Avatar
    talaniman Posts: 54,327, Reputation: 10855
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    #145

    Jan 11, 2021, 11:35 AM
    $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.

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