Living on Interest

Money$$Money$$Money - Living on interest
Philippines
December 10, 2006 5:23am CST
Did you know that some people actually live on the interest of their money? It's simply called L.O.I. simply put as living on interest. I would like to share this goal of mine to be like some people whom i know who actually and practically lives simply by getting money every month from the bank from the interest of their money.
4 people like this
22 responses
• Hong Kong
22 Dec 06
money - money,lot of money to make me live on interest!
wow,Living on Interst must be the dream of many people! I do have this dream. But I know it needs lot of money as capital at first,and It also depends on how you use your capital. The wise investment may help us to achive the goal of L.O.I. Unfortunately,I have not so much money to investment now,and I am still a student. I think the best way for me to earn some money is to post responses in Mylot which almost needs not any capital only if I have the ability to read and write.^_^ I will try to reach the nice consequence of living on interst when I graduate this year! Good Luck to all of us!!
@greenmango (1019)
• Philippines
16 Dec 06
how can we do it?
1 person likes this
@jcvelina (1256)
• Philippines
16 Dec 06
that has been my goal ever since i read rich dad, poor dad. it would be very nice to live on interest and be financially secure for the rest of your life. i am starting on small bits investments and hopefully it would grow. the earnings i got from myLot i invested a small portion on HYIPs and i would let it grow granting that they would pay me. i would start from there at see what happens.
@caharin (19)
• Philippines
16 Dec 06
oh, that's my ultimate goal. i'd like to be able to just stop working and live on interest from my investments and savings. i wish i could say i'm closer to that goal, but i'm not. i'm still trying, and won't stop until i get there. i've heard of some people who actually are living on interest, so it's not impossible to achieve if we keep on persevere!
• South Africa
16 Dec 06
It is a very impressive goal! I have also heard of it - but I don't have enough capital for that kind of investment... and I doubt I will anytime soon either. But I guess living off interest is the ultimate monetary goal for anyone... Good luck to you!
• United States
16 Dec 06
I have heard of it, but, you need a lot of money to do that. If you are young enough and can make wise choices on investments and purchase property, you will be able to do that when you are older. Good luck.
1 person likes this
@drumm1n (500)
• India
22 Dec 06
you cant live off the interest you earn from a bank! but you can live of the profits made by your investments!:P im aiming at that after a certain age i dont want to work and i should be able to sustain my life style without working by making my investments do the working!
@reinydawn (11651)
• United States
22 Dec 06
The investment market plumented 5 years ago and has not come back up. I keep hoping it will get back, but it's taking a while. Interest is pretty stable though, in comparison.
@wmg2006 (5386)
• United States
22 Dec 06
This is my goal, but I would need to be a multi-millionaire to live comfortably on the interest. So my goal is to become a self-made multi-millionaire within the next 10 years.
@reinydawn (11651)
• United States
22 Dec 06
COOL!! What are you doing to become a multi-made millionaire? I'd like in on that secret!
@jep_toyo (1607)
• Philippines
11 Jan 07
This is what i am currently trying to do... sadly my money isnt that big for LOI.
@varun23 (902)
• India
23 Dec 06
Great goal dude !!!
• United States
23 Dec 06
Just think ..if you had about 2000 referrals in mylot you could live on their work..and you work..Just get yourself a recliner and post away:)+
• United States
23 Dec 06
you need a couple million to actually make enough money to live off of, and by than you have plenty of money anyways.
• Philippines
23 Dec 06
I do hope that I had enough money to live merely on the interest earnings from the principal amount. I would just be sitting and spending just the interest. It would be a nice way to live don't you guys think?
@sekhmetgb (462)
22 Dec 06
Hi, maddona - thanks for asking me to be your friend. Yes, I now actually make a part-living on the net, and it is getting better (almost) every day. I have two private web-sites, both of which will refer you on to the company that is actually putting money in my bank account. http://www.educational.uk.com http://www.success-system.net Have a look and please mail me with any comments you may have. Regards :)
• India
22 Dec 06
i did not knew this.
@feverish (108)
• Philippines
22 Dec 06
While I also want to eventually earn enough interest to sustain me, I don't think I'd want to simply live on interest. It would be financially rewarding, sure. But I have a stronger desire for self-actualization and fulfillment. But if my passive income far exceeds my professional income, I'd at least have the luxury to do whatever I want. i.e., finally take a year-long break to write my long-overdue novel.
@feverish (108)
• Philippines
22 Dec 06
That's an impressive goal, but you need to accummulate enough cash to actually do that. I think the trick is to start investing if you have some savings. Then reinvest the interest earnings until you have enough principal to generate huge earnings.
@toonatoons (3740)
• Philippines
22 Dec 06
really? he must have deposited a lot of money to generate enough interest to actually live on. usually, interest rates in banks here do not exceed 7% annually, that's .58.3% in a month.
• South Africa
22 Dec 06
That does sound like a very good goal, although I think that a lot of people who do so have other sources of passive income, such as rental properties, or dividend-paying stocks. Just having money in the bank seems like a waste, since interest rates are normally fairly low.
@reinydawn (11651)
• United States
22 Dec 06
I see it all the time. Most of the ones I see are from people who are a beneficiary of a trust or something like that. It's usually not their own money, but money that they inherieted.