Thank you. I certainly mean no disrespect to folks who have found a way to live on less. Above I am suggesting that the OP's first plan of $1000 additional a month was a better amount than the $500 he later decided to go with.FactualFran wrote: ↑Mon Aug 28, 2017 1:45 pmI am a folk on this forum who has been living on slightly less than $26,400 per year. Over the past eight years my average spending has been about $25,500 per year. That spending does not include income taxes. About $28,500 per year before income taxes would be enough for the after income tax amount to be at least what my average spending per year has been (using the 2016 tax rates with all of the taxable income taxed at the ordinary income tax rate, a worst case scenario with none of the income being Social Security retirement benefits)Dude2 wrote: ↑Sat Aug 26, 2017 6:07 amOne thing I will say is that I look at it that $1200/mo SS plus $1000 from you on top -- that is what I estimate as the bare minimum a person could survive on. (I'm talking without any other monthly bills due to debt.) That's $26,400 a year. I doubt there are folks on this forum that are able to live on that, even some of our retirees that are really optimizing.
This is the arbitrary amount I use for planning purposes for my mother in a similar situation. It turns out it is about 2X where the poverty line is (in the US) for a single individual, according to the ACA website.
On one hand if you have the means to help, you should (charity begins at home), but on the other hand you have to first put the oxygen mask on yourself. Right? That's my motivation for finding an arbitrary line of how much financial help to give to a relative who is not cooperating in any way and will never change. I assume that's what the OP is dealing with.