A combination of stocks and bonds can earn 4 to 10% depending...
it you have $10mill, you are probably used to spending a lot more than 65000 per year and you have to pay taxes on that income also. Most people with that kind of money invest a lot of their money in stocks, bonds and mutual funds paying a lot more than 0.65% a yr
With interest rates so low you would need a ton to get interest money, and if you had that much then interest isnt really needed.
With tax exempt munis, $10M would be about $300,000 in interest.
Absolutely they can.
A dif insured bank has an interest of 0.65 percent on their savings accounts, if a person deposited and kept 10 million dollars in that account without touching it, could they just withdraw the 65 thousand they earned in interest once at year and just live off that? Without having to work. That is enough to pay bills and rent every year. I dont see a reason why not?
