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Forum: Australia

Jan 20th 2011, 10:47 pm

Replies: 32

Savings and Interest

Views: 2,582

Posted By freebo

Re: Savings and Interest

the interest will supplement your income but you will in no way be able to live off it, the average wage is around $65,000, I'm afraid that until you start earning you will be depleting your savings.

Forum: Australia

Jan 20th 2011, 10:25 pm

Replies: 32

Savings and Interest

Views: 2,582

Posted By freebo

Re: Savings and Interest

$300,000 * 6% = $18,000 per year but the exact amount would depend on if the interest is compounded monthly or annually, annually is exactly $18,000 monthly is roughly $18,500, this is before tax.

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