Arvin Ash

How to Live on $1400 per month (2018x14)

Udgivelsesdato: Jul 12, 2018

How to Live on $1400 per month. What is so magical about $1400 per month? Why did I choose that number? This is the average social security benefit that Americans will receive in retirement in 2018. And given that 40 million households have ZERO savings for retirement right now, including 30% of households where the main breadwinner is 55 or over. This could be the only source of money many people will have to live on in their retirement years. But can a person live on just $1400 per month? The answer…is YES. In many parts of the world, people would jump with joy if they could get their hands on a steady $1400 per month. You could almost live like a king in countries like Panama, Philippines, Nicaragua, Armenia, and Grenada on that income. Many American Expats do live in these countries happily. But living in these countries, you may give up some things that you take for granted here in America - things like great healthcare, 1st amendment freedoms, corruption, language, and American culture. So, I am going to presume that you have a strong desire to remain in the United States. I am also going to presume that you are retired, but under the age of 65, so you do NOT qualify for Medicare yet, so you have to buy your own medical insurance. The good news about that is that you can get very good low cost medical insurance through the Obamacare or ACA marketplace. I am also going to presume you are single, and are a family of one. The first thing you should do is move to a low cost area of the country. This can save you significant money. For example, someone in Atlanta, Georgia can have almost the same lifestyle on half the income as someone living in San Francisco, California. Your income at $1400 per month, will be $16,800 per year. At this level, you will owe no federal tax. And in addition, in most states, you will not pay any state income tax either, so you don’t need to move to a state that has 0 income tax. You should just move to a state