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Warren Contreras
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1.05% Is The Going Rate

Published on 4/14/2015
For additional information  Click Here


If you wanted to have a $100 bill to stuff in your pocket at the beginning of each month, so when you came across some whim you wanted to take advantage of (as you went about your normal daily activities), how much would you have to keep in a savings account in order to provide that kind of a return? Not just for one month, but every month thereafter (as long as rates didn't change much).

I know that $100 doesn't sound like a lot of money to some people who make six figures a month online, but it sure is to me.

My wife has been a wizard at keeping us on a tight budget and I so much appreciate how wonderful it has been all these years, to live a comfortable (not extravagant) lifestyle, without me needing to worry, that I am reluctant to ask her to give me any kind of an allowance for trivial pursuits. If I had that hundred bucks dependably showing up each month, my life would be much happier and I could even have a little to spend on her just for grins.

So I did a little calculating and found that about the highest rate for a standard savings account with the liquidity I need to make a monthly withdrawal, was 1.05% APY (Annual Percentage Yield) which is about .09% per month. This would require a balance of $112,000 in order to withdraw my $100 a month and not deplete the principal.

Doesn't it sound easier to spend 10 minutes a day clicking a few ads?

This little exercise puts things in a different perspective for me, how about you?
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