[JaKKd up]

How many millions would you have to make to be able to live off the bank interest alone every year? Say over $100k just off interest.

A friend told me it is $3 million and you would be set and I did the math and it is true but since a US bank account only accepts up to $100k which is protected by the government it would be dumb to put in more. Also if you opened up 30 different accounts of $100k you would acquire very little interest on each compared to a big $3 million.

So is there a bank in the world which would protect the $3 million AND give out over $100k in interest?

[monkeybiker]

If it was me I would buy several flats and houses and rent them out.

[Ilikebodybuilding]

yeah fort knox lol

[JaKKd up]

Naw I heard being a landlord is a bitch.

Does anybody know the answer though?

[lil_big_junior]

1.6m GBP works out at 80K a year. So give or take a little over 2m over here works out about 100k.

But I know for a fact that in the UK 6.9m GBP works out at over 30k a month interest. IDK about that in the US

[Kirk]

no bank in the states will insure you above 100k, whether it be a branch bank, or direct like mine. however if you put a jointholder on your account you're insured up too 200k (100k each). individuals who have the millions with us just divy it up to multiple accounts, or what i suggest...place your money into a low to high risk (whatever you prefer) mutual fund, make it work harder for you, time is now to start playing the stock market since that 200pt hit it took a month ago. btw i work for ing direct.

[mr_bhana]

plus youll get exponential growth, meaning youll get interest on top of your interest lol