Isn t it easy for a 40 year old to come up with 1 million in cash now?

1. Is a deposit of 1 million yuan too much?

According to relevant statistics, the amount of deposits of Chinese residents is generally not much, and the per capita deposit is only 70,000 yuan, so in real life, there are very few people who can really have a deposit of 1 million yuan. In fact, it can also be seen from the bank deposit insurance regulations that the full amount of compensation is only 500,000 yuan. As for why it is set at 500,000 yuan, it is because only 10% of Chinese residents can reach 500,000 yuan in savings.

Therefore, a deposit of 1 million yuan, I believe that for most people, it is still a lot, after all, some people have not been able to save enough 1 million yuan in a lifetime. So if you save enough 1 million yuan at the age of 40, can you skip work and live a financially free life? This question needs to be different from person to person.

2. How much annual interest can 1 million yuan have?

As we all know, in the past two years, the interest rate on bank deposits has been declining, especially in state-owned banks, and the annual interest rate is basically lower than 4%. However, in order to attract depositors, some small and medium-sized banks will raise the interest rate on five-year large certificates of deposit to about the same. If calculated according to this deposit interest rate, the annual interest of 1 million yuan is 10,000 yuan, and the average monthly interest is 4,000 yuan.

If you live in a third- or fourth-tier city, your monthly income of 4,000 yuan is equivalent to a median level. In the absence of a mortgage and car loan, it is enough to meet the daily living expenses of ordinary families. But if you don't have a house and need to rent a house, then it may be difficult to meet your daily living expenses with an income of only 4,000 yuan.

If you live in a first-tier city, have a house and a car, and have paid social security for 15 years and medical insurance for 30 years, then you can choose to retire at the age of 40 and live the rest of your life with interest. But if you don't pay 15 years of social security and 30 years of medical insurance at the age of 40, and you don't have a house or a car, the interest of 4,000 yuan per month is obviously not enough.

Third, there are too many unfavorable factors.

In fact, at the age of 40, you can't rely on the interest on your savings alone, and there are many disadvantages to living a financially free life. First, inflation. As the economy grows rapidly, inflation will increase accordingly, and currencies will depreciate.

That is to say, it is very likely that in ten years, the purchasing power of 1 million yuan will only be half of what it is now.

Second, the interest rate on bank deposits has been lowered. In the past, the interest rate on bank deposits could easily reach more than 4%, but now it is difficult to find more than 4% of the products deposited in Mingchang. In such a situation, it is clear that savers will receive less and less interest income in the future.

Third, it is difficult to re-employ. Although there are more jobs now, once people reach the age of fifty or sixty, they will definitely not have the time when they are young, and there are more selective employment opportunities, and it is even difficult to achieve reemployment. In this situation without additional income, it is difficult to secure a future life.

If you start working at the age of 20, 1000000 20 12 4200 yuan.

All you need to do is save enough every month.

But Lu Qian is the salary of most people is linear with the pure, and it doesn't matter if you save a little less in the early stage.

This needs to depend on their own ability, and some people can earn 1 million a day.