> Can one person live off 55000 a year?

Can one person live off 55000 a year?

Posted at: 2015-05-24 
Single

No debt

Car paid

Mortgage under 900

Modest to low cost of living area

Being able to live or having decent money left over to do more than just live at that salary?

Goodness yes. When I was making that money I was living in Orange County CA, supporting a daughter and bought a near new Miata. I later paid her way through college though by then I was making a bit ore.

I supported another person, lived in an expensive area, had 2 cars, had good medical insurance for both of us and lacked for nothing.

That amount is well above what is needed for a single person to live well pretty well anywhere in the USA.

Sure that should be no problem, the greater issue may be how fast you can save money and build up a credit rating to get into a home of your own.

Apartment landlords often assume you can live off 3X their monthly rent, a $1500 apartment would require one to make $54,000/yrbased on their criteria.

Easily

Not in my house. It is medium no pets great food lots of Electronics. If you were like me no. If you had a normal house with no extra expensive items it might be possible.

Single?

I live off of $15,000 a year.

100% yes.

in most areas of the USA, that's plenty of money to live on and save for retirement - just don;t be an idiot and buy $30,000 cars or $200,000 houses

Depends on where you live I guess. personally I don't know what I'd do with that much money.

Yes unless he is a Spendthrift.

yes, I think.