Every bank does this, that's how a bank works. He takes money from a person and pays him X interest, lends it to another person and charges Y interest, the difference between what he charged Y and paid to X is what he earns in profits, called the spread.
Every bank does this, that's how a bank works. He takes money from a person and pays him X interest, lends it to another person and charges Y interest, the difference between what he charged Y and paid to X is what he earns in profits, called the spread.
Not secure enough. You can easily end up losing everything if you invest money that way. However, if you get 1k each week (or something of equal value if there is another currency in the future) you always have a stable income. Though if you like taking risks, then you can invest it I guess.
There are different types of banks and bank accounts. Some banks do offer a higher interest rate
If you have $1m in savings A LOT of Banks will line up to give you a high interest rate account because that's a lot of money they can use themselves. just an interest rate of a 1% covers the $1k
Easily 1k a week. It's 4k a month and quite a good amount to have a decent life. 1m is not enough to be set for life nowadays and it'll eventually be used up. Investing money ain't a good idea anymore these days either, so there is that. The maintenance costs for a house are too high and the money will be used up quickly. In addition the house and your property is getting taxed. So taking 1k a week is not only a stable income it's also tax free and you can even rent a nice house or send your kids to a good school or uni.
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None atm. Interest rates are lower than ever. You get nothing if you put money into your account these days.
We need to have the whole scenario defined to calculate the best option. Where I live, fixed income investments easily pay 12% a year, even with income tax it is better to take the 1,000,000
Not secure enough. You can easily end up losing everything if you invest money that way. However, if you get 1k each week (or something of equal value if there is another currency in the future) you always have a stable income. Though if you like taking risks, then you can invest it I guess.
We need to have the whole scenario defined to calculate the best option. Where I live, fixed income investments easily pay 12% a year, even with income tax it is better to take the 1,000,000
We need to have the whole scenario defined to calculate the best option. Where I live, fixed income investments easily pay 12% a year, even with income tax it is better to take the 1,000,000
I'm mostly thinking about Germany here. Other countries might be much better, but here you better take 1k a week than 1m at once with how taxes and banks are.
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plenty of banks wdym? Though the interest rate is around 0.06%