The millionaire that compares themselves to the multi-millionaire feels poor. Someone making $90K could feel poor beside the person bringing home $200K a year.

The millionaire that compares themselves to the multi-millionaire feels poor. Someone making $90K could feel poor beside the person bringing home $200K a year. Feeling poor is a mindset. Having a limited income is a reality. I use those numbers as ranges. You are right that you can live on a low income if you manage wants (and being in a low-cost area will definitely help). The problem with low income is that there is hardly any breathing room. Medical, car or other types of unexpected expenses can make it difficult. People that make a good income can afford to be more stupid with their money. Being stupid with money when the income is low is just asking for real trouble.