How can I live off the interest of my money?

Answer by  shaunhaines (131)

The answer to this question depends on how much money is earning interest, and what your expenses are. If you don't have much interest earnings, and are adventurous, you might want to check out moving to a foreign country where living expenses are lower (The Philippines is often mentioned). In short, you just have to cut down your expenses.

Answer by  technogeek (6640)

If your house and car are paid for and you have more than one million dollars in the bank, then you should be able to live on the interest.

Answer by  Christopher2600 (108)

First decide on how much money you need to make. Then once you know that figure out the rate of return you need to make that much money with the funds you have available. Once you have these two numbers choose a suitable investment that matches these requirements as much as possible.

Answer by  jon6 (488)

You have to calculate how much money you need per month. Then, check your dividends and interest to make sure you have enough to cover those expenses.