If I were to try to live on steem income, I think I would have to move to a 3rd world country and cash out my money there, to live a much better life than to be in the US where the money won't go too far, unless of course you're some sort of whale. Then it might be ok for you to stay in the states.
The real trick is to live well inside your means because if you can't do that with any kind of currency then the type of currency that you pick is irrelevant.
Remember it is not the amount but how you spend it and the choices you make that decide if you have enough to live.
Unless you live in California, then you're screwed because they are ridiculously expensive.