Comments on: How Much Interest Would $1,000,000 Yield?

By: Art Mann

Art Mann — Sat, 24 Dec 2011 07:01:25 +0000

I guess the lesson is try to get more than a million in the bank. it’s a dream for most but you can do it.

By: monte mitchell

monte mitchell — Tue, 29 Mar 2011 05:55:43 +0000

This is a done deal. u.s. banks don’t pay interest on weekends. they move those funds to central American banks and collect a tidy sum for that.They then move funds back bright n’ early on Monday morn.

those banks in Belize, Honduras, Panama for example pay a whopping 9-12%

Mr. banker in America is a parasite on the uninformed.

oh they have a trick up the sleeve…. fdic insured up to an amount.

By: MW

MW — Mon, 17 Jan 2011 16:02:25 +0000

I would use it for grands college tuition.

By: M Dolores Harper Morgan

M Dolores Harper Morgan — Wed, 17 Nov 2010 17:26:36 +0000

I want to win your 1000000.00 and 5000 for life. How do I do this. Thank you Dolores

By: jeff

jeff — Sun, 11 Jul 2010 23:59:40 +0000

I would invest it through amortized loans . on sites like prosper. thats what banks do. just become the banker.

By: Stephanie

Stephanie — Mon, 20 Apr 2009 01:25:02 +0000

@James: CDs generally have a similar interest rate to online savings accounts. So yes, they’re definitely an option, although they require a lot more maintenance than a savings account, since you’ll have to reinvest the money when it matures. (Well, you don’t have to!) So yes, CDs are definitely an option – it depends on how you want to manage your money.

By: James

James — Sun, 19 Apr 2009 22:55:41 +0000

What about CD’s. Don’t they draw alot of interest?

By: Stephanie

Stephanie — Tue, 09 Dec 2008 16:48:37 +0000

@Mona – No investment is 100% risk free, even bank accounts. There is always an inherent risk to giving your money to someone else. Also, though, there’s an inherent risk to sitting on your money and NOT giving it to someone else! (That risk is inflation, the fact that it will lose value over time.)

This is what economists call “opportunity cost” – doing something (or nothing) with your money means you can’t do something else with it, so every action (or inaction) has its own risks.

I know what you’re trying to ask, but the fact is that with money, risk=reward. The more risk you take on, the greater the returns over the long run.

To get at least $3500 a month out of $700,000, you would need to get 6% (yearly) returns on your money. That’s more than a bank is going to give you, so you’ll need to take on more risk. There are some relatively conservative (less risky) investment that will give you 6%, though!

I highly suggest you check out this book: The Bogleheads’ Guide to Investing. It’s no-nonsense, easy to read, and will help point you in the direction of getting the returns you want. Good luck!

By: Mona Cleglachlan

Mona Cleglachlan — Tue, 09 Dec 2008 07:46:32 +0000

In tough times like today, if you have about $700,000-800,000, what’s the best and SAFEST (100% RISK FREE) way to invest it so that it would yield a decent reutrn to live on. Lets say about, the returns being along the lines of $3,500-5,000 a month ?

Any ideas ? Please share.

Thanks.
Mona.

By: Jah

Jah — Tue, 02 Sep 2008 13:59:09 +0000

You will make the biggest mistake to bank with Bank of America.

This bank will rip you off big time. Check this link out.

http://www.google.com/search?q=Bank+of+America+Class+Action+Lawsuit&sourceid=navclient-ff&ie=UTF-8&rlz=1B3GGGL_enUS274