How can a person actually live on 5000$ per year?
I have seen there are people who are managing their life even less than this figure and it depends in which part of the world you stay and the cost of living in that locality.
Of course 5000 usd is not something which you can manage in developing countries like US or Europe.
When the life is surviving then it is a not question of figure, it is a subject matter for the that day first for that person and a person struggling to have basic things do not really plan on yearly basis, because he does not have resources for such big time frame.
But I think with 5000 usd you can not dream for something but at least you can feed yourself for the full 365 days with 5000 usd.