Yes you can live on 5k or $5,000.00 per month.
If you live in a cheaper place you can easily live on $5,000.00 per month or even less.
I live on $3,000.00 per month and I could actually if needed live on less as I've done before.
Things would be tight if I had to live on less than $3,000.00 per month but it could be done.
My parents made less than $3,000.00 combined and we lived comfortably.
We did not have a fancy house or fancy cars etc but we had food, had a roof over our heads etc.
Some people live on $500.00 per month.
However if you have kids it can get expensive and be really tough living on that amount.
$5,000.00 per month is a pretty good amount of money and if you move somewhere cheaper away from places such as NYC or other big cities then you can live comfortably on the $5,000.00 per month.
I would be living even better if I made $5,000.00 per month so it can be done.