The median annual household income worldwide is about 10k/year. 20k/year puts you in the 91st percentile globally for person income. So it's perfectly possible to live with that money, most people in the world do.
I figured we were talking mostly about US, so technically until you're a family of 3 you're not living in poverty, which seems pretty reasonable. It also probably greatly depends on where you live. Housing prices closer to major/wealthy cities are more expensive.
Having an income of 20k/year in US puts you at like 16th percentile.
That is assuming your status is above subsistence level in your society.