

Reverse inflation says that 1970 dollars that would be about $5400. Don’t know how useful that is without knowing (remembering, which I don’t) the cost of things then.
On another note, the current poverty line is $15k for a single person. I can’t see how someone could afford a place to live and eat with that in most places. I guess if you share a place with a few other people.
And there is the motive. I did not guess it was a used car salesman.