CoconutLove@lemmy.today to Ask Lemmy@lemmy.world · 6 days agoWhat minimum amount of money in your bank account would make you feel comfortable never working again?message-squaremessage-square132linkfedilinkarrow-up1110arrow-down12
arrow-up1108arrow-down1message-squareWhat minimum amount of money in your bank account would make you feel comfortable never working again?CoconutLove@lemmy.today to Ask Lemmy@lemmy.world · 6 days agomessage-square132linkfedilink
minus-squareanon_8675309@lemmy.worldlinkfedilinkarrow-up1·5 days agoI would not have it in my bank account. I would invest it and live off the interest. So whatever amount that would be.
minus-squarePolisheocket@lemmy.ziplinkfedilinkarrow-up1·5 days agoYou earn interest from the bank, if your investing it it would living off dividends, principle and proceeds
minus-squareanon_8675309@lemmy.worldlinkfedilinkarrow-up1·5 days agoInterest from bank is pretty low. It would increase the amount of principal you would need. And then, at least in US, the FDIC only insures so much. And I can not say I even trust that right now.
I would not have it in my bank account. I would invest it and live off the interest. So whatever amount that would be.
You earn interest from the bank, if your investing it it would living off dividends, principle and proceeds
Interest from bank is pretty low. It would increase the amount of principal you would need. And then, at least in US, the FDIC only insures so much. And I can not say I even trust that right now.