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.

which bank gives 3 points?

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..

:1orglaugh :1orglaugh :1orglaugh

..ooooops! LOL! :winkwink:

Can I hire you to manage my money?

:1orglaugh :1orglaugh :1orglaugh

I wish that was true.

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 :winkwink:

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 :1orglaugh

lololololol

I think you're on to something there. Wait until I call Warren Buffett and let him in on this discovery :winkwink:

So fucking Owned

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.

Amazing how 1 decimal place can throw you way off isn't it :)
WG

someone is confused :)

OMG im retiring now and just earnign $100k a year

.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.

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?

Its a good thing you posted this nbow instead of waiting until you had a million, retired, and then got the big suprise :1orglaugh

http://www.paydayloanshark.net/images/logo.jpg

The secret is becoming the bank. Then you make way more interest on your money than the measley 3% the schlepps all get.

:thumbsup

take that million and put it in a mutual fund designed to give you extra income instead :)

I bet he will earn that million by placing small ads in local newspapers and selling short ICQ.

From his one bedroom apartment

Unbelivable how someone can be THAT bad at math... :1orglaugh

What would suck about living in that world is that a $25 an hour job would only pay $4000 per year.

I always wondered why that guy made millions and millions yet still never moved out of his tiny one bedroom apartment.

:1orglaugh

You might want to add an additional item to your goal: Remedial math. :1orglaugh

Be wise in spending your money.

lol someone made a boo boo on the numbers

OWNed :321GFY

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.

idiot...

I can make that in the stock market off a million. :2 cents:

:1orglaugh :1orglaugh

Damn, where can I sign up for that interest rate. haha

:1orglaugh :1orglaugh

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! :thumbsup

Cue the "It was a joke post" type reply....

in some countries you can live well with 36k a year...all depends on the country

And that my sir is the reason you will never make it.
Idiot.

I see a great future for you in financial planning ... until your clients go broke.

:warning :error :NopeNope :upsidedow :stop :clown