How to live well on income of $1,000 to $2,000 per month?

[Odysseusa]

http://financiallyfit.yahoo.com/finance ... 000-a-year


The Secret to Living Well on $11,000 a Year

Kimberly Palmer
Thursday, October 20, 2011



Do you have a retirement account?

Yes, I'm an avid investor. I guard my nest egg like crowned jewels. But I don't see myself ever retiring. I love what I do. I'd much rather do what I love and live small, and enjoy life.

[Storm]

Interesting article.  The whole "I'm never going to retire" by someone in their 40s is where he goes off the rails.  Does he honestly believe he's going to be healthy enough to drive an RV his whole life?

[stone]

The world annual median income was $1,700 in 2005- ie as much in a year as that is in a month (or as much as my better half's horses cost  per month ).

http://www.boston.com/news/world/articl ... worldwide/

[Lone Wolf]

Neat article.  I think it's great when people understand how little they really need to be happy.

I agree with Storm's concerns though.  Additionally, I'd never, never give up the experience of having children.  You can't live so well on $11,000 per year with kids!

[Jan Van]

The world annual median income was $1,700 in 2005- ie as much in a year as that is in a month (or as much as my better half's horses cost  per month ).

But what's a nice enough country where you could stand to live for anywhere near that amount?

It's like when I watch Househunter International or whatever that show is called, and they go to some country in Central America. I get excited and think maybe you can live for a modest amount of money there, but the homes they show are still $150K or more. Huh???

[stone]

jmourik, I suppose it is all about what gets viewed as essential. I guess it is expensive to live anywhere in an "all mod cons" house on legally owned land but billions of people do without that. In India or Pakistan you can keep looking smart whilst sleeping in the park or at your place of work because barber shops have washing facilities and everything is set up for millions of people to do that. I guess if everyone you know also does that then it doesn't seem like a deprivation? Years ago I spent a week in Karachi sleeping in a park (along with thousands of other people) and wandering around the city all day. It was pleasant and comfortable because the climate is warm and the people (then at least) all seemed very friendly.
I guess it is a completely different kettle of fish to actually emigrate to somewhere and settle down (especially working).  I have no idea how much it would cost to rent an appartment in say Sri Lanka or somewhere like that. I suppose it would be a lot less than in europe or USA and food and bus/train travel would be a lot cheaper ( 1/10th as much?). Also programs like International Househunter probably presume developed world style bathrooms, an electricity generator if mains electricity is intermittant etc etc. Those are all exotic things requiring specialist builders. That makes the costs multiples of what a normal local would spend. I think a lot of UK people of South Asian decent have emmigrated to South Asian countries in recent years. I suppose US people of latin American or Asian decent must do the same to some extent?

[Coffee]

I don't know how that guy gets away with $80 a month in health insurance?  My wife and I are 40, have a high deductible and pay close to $600.

I suppose you could live on even less if you spent all your money on health insurance, lived in the woods behind where you worked, hunted your own food, etc...  You'd  have food, insurance and shelter.

I'm not sure why somebody would want to live like that?