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Old 04-04-2005, 09:54 PM   #1
Paulzy
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To live very wealthly and well off, all you need to do..

Is build up $1 million dollars, and without doing anything other than putting it in a 3% interest (or more!) bank account, and without any further work or effort of any kind, you are generating $30,000 a month.

So once you reach 1 million dollars, you dont have to work ever again, and still generate $360,000 a year.


Thats my goal.
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Old 04-04-2005, 09:55 PM   #2
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which bank gives 3 points?
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Old 04-04-2005, 09:56 PM   #3
UnclePecker
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Dude that 3% is per YEAR not month.... Shit I wish is was per month!!
so you would be living on 30K a year...before taxes..
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Old 04-04-2005, 09:57 PM   #4
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Quote:
Originally Posted by Paulzy
Is build up $1 million dollars, and without doing anything other than putting it in a 3% interest (or more!) bank account, and without any further work or effort of any kind, you are generating $30,000 a month.

So once you reach 1 million dollars, you dont have to work ever again, and still generate $360,000 a year.


Thats my goal.
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Old 04-04-2005, 09:57 PM   #5
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Quote:
Originally Posted by UnclePecker
Dude that 3% is per YEAR not month.... Shit I wish is was per month!!
so you would be living on 30K a year...before taxes..

..ooooops! LOL!
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Old 04-04-2005, 09:58 PM   #6
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Quote:
Originally Posted by Paulzy
Is build up $1 million dollars, and without doing anything other than putting it in a 3% interest (or more!) bank account, and without any further work or effort of any kind, you are generating $30,000 a month.

So once you reach 1 million dollars, you dont have to work ever again, and still generate $360,000 a year.


Thats my goal.
Can I hire you to manage my money?

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Old 04-04-2005, 09:59 PM   #7
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I wish that was true.
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Old 04-04-2005, 09:59 PM   #8
zzgundamnzz
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Quote:
Originally Posted by UnclePecker
Dude that 3% is per YEAR not month.... Shit I wish is was per month!!
so you would be living on 30K a year...before taxes..
Heh yeah damn I wish... 100K in the bank would be generating 36K a year. People wouldn't need 401K. Just stick all of that in a bank and never work again hehe
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Old 04-04-2005, 10:00 PM   #9
Alex
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Quote:
Originally Posted by Paulzy
Is build up $1 million dollars, and without doing anything other than putting it in a 3% interest (or more!) bank account, and without any further work or effort of any kind, you are generating $30,000 a month.

So once you reach 1 million dollars, you dont have to work ever again, and still generate $360,000 a year.


Thats my goal.

Dude my bank pays .5% and takes loans out at 6%

Your bank pays 36%??

I should just take out one million at 6% and put it under your 36% and \make $300000 a year with no work.

Or i can realize that you are an idiot with no math sense and lmao at you
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Old 04-04-2005, 10:03 PM   #10
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lololololol
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Old 04-04-2005, 10:04 PM   #11
BRISK
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Quote:
Originally Posted by Alex
Dude my bank pays .5% and takes loans out at 6%

Your bank pays 36%??

I should just take out one million at 6% and put it under your 36% and \make $300000 a year with no work.

Or i can realize that you are an idiot with no math sense and lmao at you
I think you're on to something there. Wait until I call Warren Buffett and let him in on this discovery
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Old 04-04-2005, 10:07 PM   #12
Alex
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So fucking Owned
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Old 04-04-2005, 10:11 PM   #13
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Actually if you deposit a million or more you can usualy get about .5 to .8% higher, but talking with the bank about it. But not much more than that. Oh, and using a credit union over a bank, will give you a higher % with out having a million in there.
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Old 04-04-2005, 10:25 PM   #14
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Amazing how 1 decimal place can throw you way off isn't it
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Old 04-04-2005, 10:41 PM   #15
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someone is confused
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Old 04-04-2005, 10:43 PM   #16
detoxed
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OMG im retiring now and just earnign $100k a year
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Old 04-04-2005, 10:47 PM   #17
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.8% interest?

banks over here start at around 5.25% pa interest for term deposits (10k min)
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Old 04-04-2005, 10:49 PM   #18
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.8% interest?

banks over here start at around 5.25% pa interest for term deposits (10k min)
INGDirect (au) does 5%pa, paid monthly, no minimum balance and access to your cash 24/7 with no fees what so ever for anything.

If you have 10mil+ to invest you can get 8-10% pa no problem.
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Old 04-04-2005, 10:56 PM   #19
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Call Warren Buffet.

Call The World Bank

Paulzy is coming to town.

Hey doofus, what makes you think that it's so fucking easy to cram a million bucks in the bank anyways? That's a shitload of bottles to return ya know?
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Old 04-04-2005, 10:57 PM   #20
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Its a good thing you posted this nbow instead of waiting until you had a million, retired, and then got the big suprise
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Old 04-04-2005, 11:12 PM   #21
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The secret is becoming the bank. Then you make way more interest on your money than the measley 3% the schlepps all get.

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Old 04-04-2005, 11:15 PM   #22
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take that million and put it in a mutual fund designed to give you extra income instead
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Old 04-04-2005, 11:17 PM   #23
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I bet he will earn that million by placing small ads in local newspapers and selling short ICQ.
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Old 04-04-2005, 11:20 PM   #24
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I bet he will earn that million by placing small ads in local newspapers and selling short ICQ.
From his one bedroom apartment
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Old 04-04-2005, 11:46 PM   #25
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Unbelivable how someone can be THAT bad at math...
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Old 04-04-2005, 11:49 PM   #26
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What would suck about living in that world is that a $25 an hour job would only pay $4000 per year.
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Old 04-04-2005, 11:57 PM   #27
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From his one bedroom apartment
I always wondered why that guy made millions and millions yet still never moved out of his tiny one bedroom apartment.

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Old 04-05-2005, 12:01 AM   #28
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Quote:
Originally Posted by Paulzy
Is build up $1 million dollars, and without doing anything other than putting it in a 3% interest (or more!) bank account, and without any further work or effort of any kind, you are generating $30,000 a month.

So once you reach 1 million dollars, you dont have to work ever again, and still generate $360,000 a year.


Thats my goal.
You might want to add an additional item to your goal: Remedial math.
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Old 04-05-2005, 12:13 AM   #29
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Be wise in spending your money.
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Old 04-05-2005, 12:16 AM   #30
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lol someone made a boo boo on the numbers
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Old 04-05-2005, 12:32 AM   #31
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OWNed
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Old 04-05-2005, 07:56 AM   #32
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try going to Zurich, bring 20 to UBS and demand 60% a month, that's $144 million a year. promise them you'll give half of it to humanitarian causes. trust me, it works.
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Old 04-05-2005, 08:00 AM   #33
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idiot...
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Old 04-05-2005, 08:00 AM   #34
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I can make that in the stock market off a million.
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Old 04-05-2005, 08:01 AM   #35
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Originally Posted by broke
Can I hire you to manage my money?



Damn, where can I sign up for that interest rate. haha
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Old 04-05-2005, 08:01 AM   #36
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Old 04-05-2005, 08:03 AM   #37
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Hey Paulzy, can I borrow your calculator. I need to sell some stuff and the buyer forget his and I think yours may give him the numbers he wants to see!
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Old 04-05-2005, 08:09 AM   #38
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Cue the "It was a joke post" type reply....
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Old 04-05-2005, 08:22 AM   #39
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in some countries you can live well with 36k a year...all depends on the country
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Old 04-05-2005, 08:26 AM   #40
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Quote:
Originally Posted by Paulzy
Is build up $1 million dollars, and without doing anything other than putting it in a 3% interest (or more!) bank account, and without any further work or effort of any kind, you are generating $30,000 a month.

So once you reach 1 million dollars, you dont have to work ever again, and still generate $360,000 a year.


Thats my goal.
And that my sir is the reason you will never make it.
Idiot.
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Old 04-05-2005, 08:28 AM   #41
mikeyddddd
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Quote:
Originally Posted by Paulzy
To live very wealthly and well off, all you need to do..
I see a great future for you in financial planning ... until your clients go broke.

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