Anyone living off interest from savings

Are you looking for one?!

Based on your posting history you seem to be happy enough to live off what you already have salted away, it appears likely you have accommodation provided for you, and are awaiting plenty more by way of gift / inheritance, and no doubt the 3grand a year exempt is being used up, so I'm not so sure you do want a job TBH!

Not knocking you, each to their own...
 
Guys, to be clear on this, Enda is accidentally flopping to talk his usual usual mischief. He just mentioned the very last days the greed of the people that caused this mess we have right now.

The EZB rate is at 1%. Why do you expect EBS to give you long term 5%?
Because they like you ???

Those current offered high interests are based on the banks running dry and the need to capitalize themselves with non borrowed money and that they need to be competitive due to the dirty taxes (DIRT). The 30% give Irish bank a huge disadvantage compared to other countries where deposits are not taxed so much or have a threshold where the taxes kick in.

The high interest party will be soon over once the first Irish bank will go burst cause they cannot afford 5% savings interest without lending the money for at least 8% to clients. (in case you forget bank are living of the profit they make with the money not usually by a state bailout.

And who is lending money at the moment and for which rate ?????? euh no one

We are driving full ahead to the next wall (bubble). 5% might be sustainable for this year and long term saving vehicles sealed this year, but rather sooner than later this will have to drop because the EZB decided that burning money is now more important than keeping the inflation under control. Mario Draghi was a former MD of Goldman Sachs (The dudes who organised the Greek debts and the forgery of their balance statements to join and remain in the EURO zone, and a buddy of Berlusconi. He is a damn good specialist in how to ruin the Euro eventually.
 
Here in Switzerland an annual full state pension would cover about two months living expenses, so one must live on the "interest" from from private pension savings. A private pension is required by law, so people either contribute to their employer run scheme or to a fund run by a pension company, if self employed. The average professional will save around 900k in this way over their working life and this will lead to a pension of around 60k, which when combined with the full state pension of 22.5k will amount in an over all pension of 65 - 70% of of their final salary.
 
In terms of the OP's question, yes I know somebody living off interest income.

Mid 30's, laid off, unemployment payment finishes after 12 months, so no income while re-training.

I suppose in these situations, you would try to not eat into your capital, and just spend the interest.
 
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