Kunpeng Project
Is it feasible to put millions of deposits in banks to live on interest alone? Don't need to work to earn money?
After years of popularity, many people feel that it is getting harder and harder to make money. For this reason, many people crave financial freedom, be able to sleep until they wake up naturally, do not have to go to work, and have a stable income every month. So some people asked, if 1 million deposits in the bank to eat interest, do not have to go to work, do not earn money, can you maintain a normal life?
Although a million deposit is for the average family"ceilings", many people may not be able to earn 1 million deposits even if they struggle for a lifetime. But if you take 1 million to deposit in the bank to eat interest, I am afraid that life will be very difficult. In the case of small and medium-sized banks, the one-year fixed deposit is only 205%, put 1 million in the bank on a regular basis, that is only 20,500 yuan, an average of only 1,708 yuan per month. Such interest income is just enough for couples living in rural areas with low price levels, and it is certainly unrealistic to want to live in large and medium-sized cities.
Of course, you can also take the $1 million and deposit it in a small bank for 3 years at an annual interest rate of about 3%. In this way, the average annual interest income is only 30,000 yuan, an average of 2,500 yuan per month, which is only enough to maintain the basic life of a couple in a small town. Obviously, with the current bank deposit interest rate, if you deposit 1 million yuan in the bank, you will have to eat interest, and I am afraid that you can barely support two people at most.
What's more, the interest rate on bank deposits is getting lower and lower, and there is currently a downward trend. Therefore, it is not realistic to achieve financial freedom by relying only on 1 million deposits, not working, eating interest, and achieving financial freedom. What's more, even if the interest on a bank deposit of 1 million can meet the living needs of 2 people, it is not realistic. We also need to consider inflation over the next decade, as well as possible medical costs. Generally speaking, it is quite difficult to achieve financial freedom by putting a $1 million deposit in the bank to earn interest, and not to lose your job.
While a $1 million deposit takes up interest and makes it difficult to achieve financial freedom, there are steps you can take to ease the stress of your life. There are two main scenarios: one is that the $1 million deposit can be leveraged due to the lower interest yield on the $1 million deposit. If your annual expenses are $50,000, $1 million can be used over 20 years. For those who retire at the age of 60, having $1 million is basically not too much to worry about retirement.
On the other hand, while the interest on a $1 million deposit is relatively low, it is more difficult to support a family. But you can also get an easy job that doesn't have to pay very much, and then subsidize the family with interest on your $1 million deposit. You can also live a good life in this way.
Is a million euros in bank savings enough to live without working, without earning interest? Answer:"It's hard"。Unless you live in a rural area or.
Third- and fourth-tier cities, because the current bank deposit interest rate is too low, and it is on a downward trend. If you want to earn interest on your bank deposits to support your family, you need at least 2 million to 3 million or more.
However, having 1 million is a considerable asset after all, which can solve the pension problem, just like a middle-aged person who has a job and subsidizes his family with interest, which is still a good decision. In short, with a deposit of 1 million, you don't have to worry about unemployment, illness, raising children and other problems in the short term, you can smooth out some fluctuations in life, and live a more comfortable life.