"Just an Idea"
I think I figured out a way to save money and make money by saving it!!!
***CD Accounts***
Most banks have CD Account around 5% (4%-7%)
If I kept $50,000 in a CD account @ 5% Intrest a month.
5% of $50,000 = $2,500
$2,500 a month for 12 months = $30,000
I could put the $50,000 back into a new CD Account every year and Keep the $30,000 for just leaving my money alone for 12 months.
THAT'S $30,000 A YEAR FOR DOING NOTHING!!!!
I totally think i'm going to do this!!!!
I could totally travel for the rest of my life and never have to work again!! I mean $30,000 a year isn't a whole lot.... I won't be rich, BUT I will be able to backpack for as long as I wish and never have to worry about getting a job or money ever again.
I could also keep more then $50,000 in the CD Account -
Example..
5% of $100,000 = $5,000
$5,000 a month for 12 Months = $60,000
$60,000 a year for JUST letting money sit in an Account!!!
Same thing... put the $100,000 back and do it again every year!
THATS $60,000 A YEAR FOR DOING NOTHING!!!!
It sounds to good to be true... I know I'll run into some problem with this and it won't really work out that well... But if it does "WATCH OUT ROAD, HERE I COME" I'll be backpacking for the next 20 years... lol
I want to see what some other people think about this, please leave your thoughts...
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