If it is not risked in the stock market, but put into banking Certificates of Deposit? If he is already retired, in an area where the cost of living is not very high - average, with very small retirement income, and, if he has virtually no debt other than food, utilities, property taxes, etc.? Thoughts? Suggestions?
2007-09-30 15:20:12 · 4 answers · asked by sheek Txn 5 in Business & Finance ➔ Personal Finance
It would be pretty difficult. At 5% per year the income would be $50,000, but that is a taxable $50k per year. If the home were owned and taxes were low it might be possible. It wouldn't leave too much room for fun or a serious illness, etc.
2007-10-01 04:00:00 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
Straight interest inventment may be ok.
If you can explore further same risk assessment like CD etc... but get into compound interest it maybe more money there.
Do more reaserch and ask more question, plenty options out there.
Manage wealth is very hard job, keep this in mind.
Best of Luck
2007-09-30 15:52:37 · answer #2 · answered by L L 3 · 0⤊ 0⤋
Yes.
2007-10-01 12:42:58 · answer #3 · answered by Anonymous · 0⤊ 1⤋
$1M @ 5% is $50K per year at least .
Can you manage on that ?
All depends on what you call living . . .
>
2007-09-30 15:25:05 · answer #4 · answered by kate 7 · 1⤊ 0⤋