Procrustes was the son of Poseidon (Greek Mythology) and he had a bed that he invited travelers to use. He fitted all takers to the bed using his hammer or stretching them to fit. No one ever fit the bed exactly. A problem like this requires a Procrustean solution. That is, using some undesirable method of tailoring the data to fit a solution. So here I go (laughing at myself).
Using a sort of Procrustean solution, we might look at all the variables that makes each traveler different, monetize those differences, then over lay the outcomes to decide if $1,000 a month is the right figure or not.
In Randy's case, I believe he said that he lives on about $500 a month. Also, he mentioned that he has VA health care. And, we know he's very experienced. Health care, perhaps that's worth $300 a month and his experience (and social network) is worth perhaps $200 a month. In actual dollars, the same outcome that Randy has might cost me $1,000 to replicate.
This analysis is static (predictable). Life, over time, becomes dynamic (unpredictable). Change is constant - dynamic situations reshuffle the deck. The reshuffle might be the health of yourself or a loved one. Rampant inflation as Randy points out. A mechanical issue... You should have some extra income, cash, or other resource on top of the minimum amount (whatever that is) to adapt to change.
A grand ($1k per month) might be okay in a static environment. If you don't need health care and have excellent experience, then $500 might be enough. But life is Dynamic... I'd need extra...
