how to live off interest??no more working?

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willymonfrete
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how to live off interest??no more working?

Post by willymonfrete »

something like 1/4 of the world lives on less than a dollar a day.4 x that and you wont be a mini millionare but you could live freely and never work again.so Say you build a Bamboo Hut in madagascar or the lesser islands of indonesia or the phils and you can live off your interest and live decentely.say you have circa 30K euros saved up and the interest is 10% that means around 3000$ a year interest .that could take you a long way living like a local in some countries.you would literally never have to work again.for a anarcho-primitivist like myself who would like to Rewild that sounds like a lifesaver.

I've come across a few countries that have high payoffs



26.25 % argentina

7% Brazil

10% Iran

12% Egypt

Ukraine 20%

so my question is,could one work hard to save 30K and then create a savings account in a foreign country with high interest returns,and then finally Rewild or live off Grid with a decent allowance for a 3rd world country,especially if you seek to keep life simple(bamboo hut by the beach,street food,fish yourself once in a while,wear local dress etc)


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xiongmao
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Re: how to live off interest??no more working?

Post by xiongmao »

Mr Money Mustache is the place to find out about doing this.

The flaw in your plan is that inflation is raging in these countries. In China where I am now my burger place Carl's has raised prices by 2% and I've only been here 4 months.

Also your principal will lose value if you spend the interest.

Another flaw - what if you get sick and need major treatment?
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