Could You Live on $190 a Month

Retirement fears bother everybody nearing it. It bothers people the most who are nearing their retirement phase. As per the sixth annual Retirement Fitness Survey from Wells Fargo & Company, many Americans who are ready to retire would be left with just $20,000 to survive during their retirement period. This implies that one needs to survive a month on just $190. This infographic titled “Could you live on $190 a Month?” highlights the factors that can affect a person nearing retirement.

This infographic helps a person visualize what would it be like to live an entire month on $190. Would it really be possible to survive on such a measly sum? If expenditure on basic things such as food, rent and clothes are considered, it would really be not possible to have any savings. Eating nothing but just instant noodles for every meal would bring down the food budget by $34 per month. The median cost of rent in the US is $842. This means one needs to share an apartment to survive with just $190 per month. Strictly adhering to the budget would leave a person with just $56 to spend on other things.

$190 a month is less than 5% of what an average American spends each month. This has been depicted clearly with the use of bar graphs in this infographic. It also covers what Americans feel about retirement and how prepared they are to face this phase in life. There are even cool tips provided in this infographic for keeping up.

Likes: Informative, good use of graphical tools.

Dislikes: Doesn’t cover other factors apart from the basic aspects.

retire-190-month

Courtesy: billshrink.com/blog

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