In recent years, due to the impact of the pandemic and the unstable economic situation, more and more people are eager to achieve financial freedom and no longer be tied down by work. Someone once suggested that if the bank deposit reached 3 million yuan, he would be able to live on interest alone and get rid of the shackles of needing to go to work. So, is this argument feasible?
1. Deposit interest rate and monthly income
With a deposit of 3 million yuan, if you take a one-year time deposit, the average annual interest rate is 205%, then you can get 6The interest income of 150,000 yuan is converted into a monthly income of about 5,125 yuanIf you choose a 3-year time deposit, the average annual interest rate is 26% with an interest income of 780,000 yuan, equivalent to a monthly income of 6,500 yuan. Under normal living conditions, the interest income brought by the deposit of 3 million yuan is enough for the basic living expenses of the family, so in this case, it is indeed possible to avoid going to work.
However, we also need to consider the following special circumstances, which may make the interest income of the $3 million deposit unable to meet the needs of daily life.
2. Falling deposit rates and inflation
Although the current bank deposit rate is still able to provide sufficient interest income, we cannot rule out the possibility that the deposit rate may fall in the future. Especially in the context of the continuous reduction of deposit interest rates and the continuous rise of inflation, the interest income generated by the deposit of 3 million yuan may become more and more difficult to maintain living expenses. Therefore, while considering financial freedom, it is also important to pay attention to changes in deposit rates and inflation.
3. Sudden illness and ** expenses
Even if we have a deposit of 3 million yuan and can live on interest, if we encounter a sudden illness, we may have to use the deposit for ** expenses. This will lead to a gradual reduction in the amount of money on hand and the fact that you will no longer be able to rely on interest to make ends meet. Therefore, while having a deposit of 3 million yuan, it is also necessary to ensure that the health of the family is good and avoid the occurrence of major diseases.
4. Quality of life and additional expenses
Although the interest income from a deposit of 3 million yuan can meet the basic needs of life, if you want to live a high-quality life, such as often going to high-end restaurants to spend or buy luxury goods, the interest income from the deposit is obviously not enough. Therefore, the interest income from a deposit of 3 million yuan is more suitable for families who do not have high living requirements, while those who want to pursue a high quality of life need other income**.
All in all, although the bank deposit of 3 million yuan can live on interest, under special circumstances, such as a drop in deposit interest rates, sudden illness, and the pursuit of a high quality of life, it may become difficult to rely on interest income alone. In addition, for most ordinary wage earners, saving enough $3 million in savings is a daunting task in itself. Therefore, achieving financial freedom is not only dependent on the interest on deposits, but also requires a multi-faceted plan and effort.
Depositing $3 million in the bank and living on interest is a compelling ideal, but we need to fully assess the feasibility and limitations of this approach.
1. Feasibility
For families, having a deposit of 3 million yuan can indeed rely on interest to meet basic living needs. Depending on the increase in the interest rate on deposits, interest income can provide some financial support to the family, so that they no longer have to work hard every day and thus enjoy more freedom and leisure time.
2. Limitations
However, the deposit interest life also has its limitations. First of all, the volatility of the deposit rate will affect the monthly income, and a decrease in the deposit rate may lead to a decrease in interest income, which in turn will affect the quality of life. Secondly, the interest on deposits can often only meet the basic needs of life, if you want to pursue a higher quality of life, such as travel, shopping, etc., it is not enough to rely on the interest on deposits, and you also need other income** to make up for the shortcomings. Finally, in the event of a sudden illness or other unforeseen circumstances, the deposit to pay for ** expenses can also reduce the amount of money on hand, which in turn will affect future interest income.
Therefore, we need to have certain financial planning and risk control capabilities while considering the life of deposit interest. Investing your savings, mastering financial planning and diversifying your income** are all keys to long-term financial freedom.
Therefore, it is possible to save 3 million yuan and live on interest. However, we must fully understand the limitations of living with interest on deposits as part of a long-term plan, and pay attention to the importance of diversifying investments, managing health, and moderating consumption. Only in this way can we go further and steadily on the road of pursuing financial freedom.