Passive income

Without further ado... A couple of days ago I had a revelation. Here goes. We have a local bank here in the country where I live. It's been out there for quite a while, and I am one of their clients and kind of a fan.

They are offering quite lucrative deposit accounts in the local currency. I have a couple with some small money on them. Let's say that their yearly interest minus taxes is comparable to earnings from other types of investment.

Just for fun, I calculated how much I should deposit on such an account with this bank to make what I make as an employee per month.

I was surprised that it was not actually a really large amount of money. Large enough. Never had so much in my life at one time. But not that large I expected until now.

The thrill of this calculation came from the idea that I do not have to do anything if I deposit this amount of money. No work. The interest payments are monthly and can be kept on the deposit account, or, which works great for my idea of not working, transferred to another account and be instantly available.

The bank itself pays the required taxes on the monthly interest and, according to our law, I do not need to include it in my yearly income report.

What?

I can make as much as I make now and I do not need to work.

At all.

And everything is automatic.

I even imagined informing my employer that I was going to quit: here is my 2-week notice.

- Why?

- I found a way to make as much without actually working at all.

Of course, there are risks. Lower interests on deposits, no deposits, the bank getting out of work, the whole banking system (at least locally) collapsing, tax laws changing, inflation, force majeure, etc etc etc.

Of course, this is not the f**k you money.

This is just an idea. A working idea. Getting the amount of money to deposit is all that is left to do. A trifle.

Yeah...

This could be a challenging task to do.

But at least I have a quick and well-based answer to the question: "How much money do you need?"

Yes, I know how much. Say, to begin with. This is even not 1 million US dollars. Much much less.

And just imagine that you don't have to work any more. Any more. Don't have to. Work.

Why don't you just spend the amount of money you keep referring to but never revealing how much? Monthly instead of working for someone? - You may ask

Well... not the same.

I will run out of this amount money in a few short years. And then what?

Also, having this amount of money will loose my spending habits. I might start spending more. I am just a mere human being.

But getting a limited amount of money on a monthly basis kind of disciplines you. This is how much you earn, spend as much.

Having the amount of money on the deposit account virtually gets you an infinite source of your monthly pay you are used to. And besides, you are keeping the money.

So I guess I know what I am going to do when I come into possession of it.

OK, Google. How can I come into possession of it?

(The image source is https://www.pexels.com/photo/abundance-bank-banking-banknotes-259027/)