Is it Possible to Live Like a Rose with the Interest of 10 Million TL?

There are endless deer in our country for years. “What would you do if it came out digitally?” or “I don’t know what you would do if you had how much money?“There are two things we learned from their conversations: First, in our country, where inflation is 10 percent at best, of inflation its impact is still not understood; Secondly, it really reflects the vision of most people. Even if you throw shovels of dollars at them, You cannot expand. If it’s not inside a person, it doesn’t happen.

With the latest interest rate decision, Turkey Policy rate has reached 30%. Policy rate is the interest rate used by the Central Bank in its transactions with other banks. When it receives deposits from banks or gives loans to banks, it operates based on a 30% rate. This rate is always below the rate we see when we go to banks. Banks that want to attract customers set rates above this rate for both the loans they provide and their deposit accounts.

So, if we have 10 Million TL, can we be at peace forever?

First of all, let’s use the policy rate in this scenario, because bank to bank Rates change and it would be unfair which one we choose. After that we can start the calculations. We think that we will earn the interest month by month and eat it, pay our rent, etc. First of all, in this case, banks 32 days will give maturity; It’s not like I have to go and get a salary on the 17th of every month, let’s just put it in our pocket.

The second point is that when we calculate this money, we generally tax It is forgotten, it is important not to forget. We had to pay a 15% tax due to the term we chose. (There are also decreases in this rate in the longer term.) In this scenario, we benefit from the incentive and pay a 5% withholding tax at least until the end of this year.

Let’s get to the accounting part of the matter.

When we trade with 30% annual interest, this gives us 2.63% per month It brings a rate like . In other words, our monthly, or rather 32-day, gross earnings are exactly 263,013.70 TL. Since our tax is deducted from this money while it is transferred to our account, when we look at our account, 10.249.863,01 TL We see. 13,150.68 TL was deducted as withholding tax.

If we had not opened our account during this period – or when we renewed it after the incentive ended – there would be a 15% withholding tax. 39.452,05 TL it would be. In this case, after 32 days 223.561,64 TLso we would have earned 2.24%.

Now let’s get to the main part: Could we live happily with this money?

Considering today’s conditions, it’s good money, bro. In the worst-case scenario, earning 223,561.64 TL per month is not enough for most of us under today’s conditions. Definitely wonderful something could happen. Living in a house with a sea view in a central location in Istanbul, iPhone 15 We would have the luxury of being able to buy the model. In fact, while living in a 5-star hotel with a sea view, we could eat out every meal, as long as we did not go too luxurious, and still leave the principal money untouched.

Let’s see the number of these beautiful days probably little It will happen, because we have a problem like inflation. Technically, at the end of each month, the money in our pocket will start to buy less things.

It really doesn’t stand up to the mountain.

Instead of predicting the future, looking at the past can also give us clues about what will happen. Today, 10 million TL corresponds to 368,750 US dollars. Exactly 20 years ago, In 2003, the dollar was 1.38 TL. In other words, it was equivalent to around 500 thousand lira (508,750 TL) in the money of that time. Again in that period minimum wage It was 226 lira. So we are talking about 2 percent of the current minimum wage. It doesn’t quite make it either, so I rounded it up.

When we look at the history of our country in the next 20 years Unfortunately, it doesn’t seem likely that something different will happen. Inflation, which has been our bleeding wound throughout the history of the Republic, will continue to exist in the future. Our investment will also be affected by inflation, which has remained unchanged throughout our history. Considering that the minimum wage has increased 50 times in 20 years, if a similar scenario occurs in the next 20 years, our monthly interest income will be It won’t even be worth half of the minimum wage.

You have no plans to die within the next few years “I’ll put 10 million in the bank and live happily on the interest.” It doesn’t make sense to say. We have to invest and produce added value, otherwise “I used to live like a king.” We can’t do anything but say.