$5 a day for two people is a bit unrealistic - regardless of where you live. Sure, maybe you can survive on plain rice and dry beans in some rural village for two bucks a meal, but life is more than that. What about medical care? Electricity? Cooking gas? Rent? Or the fact that as you get older, your body falls apart and you need all kinds of aids just to survive.
Some facts that make me think $5 a day should be realistic for retirement age in some parts of my country:
- many cities in my country have a standard monthly minimum wage below $150 currently (employees).
- my government subsidizes all utility bills for the lower economic class, and we have abundant sources of clean water.
- the tradition of people in my country that is still widely implemented is living with or close to family relatives (having their own house). Regarding life's needs, they usually support each other. But this tradition is starting to be abandoned in big cities.