My favorite links!

Allcoins.pw

Friday, March 9, 2018

Apparently, Banco de Oro paid me 5 pesos last month. According to their policy, people with more than 10,000 pesos in their savings account will be paid 0.25 percent per year in interest. That's 1/4 of 1 percent.

Regardless, I am glad that I received this money. Money is still money. I am pretty sure that really rich people just deposit their money in tons of banks and then just live from the interest. It's the safest investment of all and is the easiest among all investments to withdraw from, so if you have a lot of money, like hundreds of millions or so, I would really recommend just saving it all in a bank. If you have 200 million pesos in a bank, for example, you will earn 500,000 pesos a year just from bank interest, so you can live as a rich person without working or doing anything really.

In reality, the average single Filipino can live on 23,000 pesos a month including rent in a good apartment, so you really need only 300,000 pesos a year or so to live well. 100 million pesos stashed in a bank will probably be enough for you to survive on while having your own apartment, just by living on the interest.

No comments:

Post a Comment