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Platinum Boarder
R U Kind?

Re: Random questions/thoughts @3AM...

#117448 2 years, 8 months ago
interest rates are currently quite low, but rising. A money market account still pays less than 1% a year, .8 of 1% is the national average (per bankrate.com). So even if you can get a 1.5% CD (an amazing rate), I don't see how you can live (well) on $15,000 a year - or $288 a week, less taxes.

You can borrow money at less than 4% nowadays, if you can get anyone to lend to you.

I don't think even the Italian or Irish bonds are paying 10% interest yet. You can probably get 10% on Greek debt, but you will never get back your million dollars, that's for sure.
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Last Edit: 2 years, 8 months ago by scar1et_f1re. Reason: typo
Gold Boarder

Re: Random questions/thoughts @3AM...

#117452 2 years, 8 months ago
People with $1 million dollars to invest get at least 10% interest. Many of them get closer to 20%. You are talking about the rate they give the common folk.
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