Living on the interest
2 years ago
If you put $1 million in a regular bank account with average interest you would get a return of around $50k per yer and could probably live on it without even touching the principle. I decided I wanted to accomplish this goal shortly after reading Dave Ramsey’s ‘Total Money Makeover’ and realized that it is possible. Currently I am 2% there. However, the first 1% was the really hard part. The first $10k took me 7 years to save and the second $10k only took me 1 year to save. It is all down hill from here. However, I now know that when I get close to this goal I am definately going to change it to be an even higher number. Just to see how much I can do.
