A million dollars isn’t what it used to be. Usually when you hear that statement, a story about inflation and eroding purchasing power is sure to follow. While that is true, today I’m addressing a different aspect: The interest on a million dollars isn’t what it used to be.
Back in March 2010, I wrote an article called Living On The Interest From One Million Dollars. The title summarized my original retirement plan crafted in 1974: I would save a million dollars, retire, and live off the interest. No complicated investment schemes. No need to gamble. Just leave my money in the bank and live off the earnings.
Unfortunately, the rules have changed. Now, banks pay less than half a percent on a six-month certificate of deposit (“CD”), and the interest on a million dollars amounts to less than $5,000 a year. Clearly, a new plan is needed.
Today, I’ve published a new report called Living On A Million Dollar Portfolio: Your guide to navigating today’s low interest rate maze. I wrote this report to address the challenges that retirees face in today’s interest rate environment and help those that need to craft a new plan.
You can get your free copy here on the Invest With An Edge website using the sign-up box near the upper right hand corner of this page or the home page. The concepts I discuss in this report apply to nearly everyone, even if your nest egg exceeds or falls far short of million dollars. Get your copy today. LivingOnAMillionDollarPortfolio