Would you like to make a million pounds? Probably. Would you like to live off the interest? I do hope not.
You see, unfortunately, I do hear, from time to time, people saying that they would like to make a million pounds and then live off the interest. I really find that a rather ridiculous idea, quite ludicrous. I find it mind boggling that they would wish to get a single-figure return on their cash.
You see, interest rates in banks, first of all, are not 20, 30, 40, 50 percent, they’re single figure digits. If you live in the UK, at least, and you put a million pounds in there, at the present time you’d be lucky to get one percent. That means you get 10,000 pounds sterling back on your one million.
Now, I don’t know what school of business you went to, but that is not a good return on investment. What are you going to do with 10k? You’re going to get sustenance. You can have a pretty unmeaningful existence, in my view. It’s not a massive amount of money. It’s a pittance, especially for somebody that’s managed to make a million.
So this whole idea of living off the interest of a million is generally said by poor people. So these poor people have no idea how to invest any money because they’re ignorant. They’re so ignorant that they deny they’re ignorant. They’re so stupid they deny they’re stupid. It’s a real paradox.
Let’s explore this a little bit further. If you could make a million pounds, you could make two, three, four, five, ten, a hundred. You could make as much as you want. So why would you ever wish to live off the interest? It’s a pretty strange idea.
You’d be much better to own a few businesses and make the businesses work for you and live off the businesses — much, much better idea. You get a higher return on your investment and you wouldn’t be getting such a low return if you were to partake in the first idea which I suggested.
Now, why do they want you or who came up with this ridiculous “I’ll put a million in the bank and live off the interest” idea? Well, first off, I believe it’s been handed down to you and instilled into you by the powers that be. The powers being the banking system, the institutions who need your cash, so that they can go and invest it for whopping net profits, so they can generate absolute fortunes and own a few cash cow businesses.
They need your cash. So, therefore, know that if they can get you young, if they can tell you to save, save, save and put in a few hundred here, possibly even a few thousand there. Well, if you do manage to make that million, hopefully they’ve got you young, so they’ve got you for life.
But in all seriousness, you are unlikely to make a million, especially if you work. So you might have to have a significant financial milestone in your life. For example, an inheritance, possibly a lottery winning, some kind of other big financial milestone, which is really going to be a test for you.
Because they want you to give them your cash, and they would be delighted to accept it from you. They want you to deposit two million, three million, four million, and live off that interest as well. Because they know if they can give you one percent — one pathetic percent – well, they can make 10 times that easily, very quickly and easily.
As a result, somebody like you who buys into this whole “make a million off the interest” nonsense, this garbage, well, you can be extorted. You can be squeezed like a stress ball. You can line their pockets indirectly. So I would encourage you not to participate in this if you ever did make the mil and to look at other revenue-generating systems and income streams.
