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Bank deposits source of passive income for senior citizens
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[QUOTE="Mika, post: 264604, member: 29399"] Fixed deposit bank accounts can be a great source of passive income, not just for seniors but also for young people and middle age people. Well, inflation can substantially reduce the value of the money you deposited in the bank, however, when inflation comes in you will investment will lose value in every sector not just your money in the bank but also in the stock market, real estate marketing, crypto market, etc. In my home country, you get up to 12 percent annual interest in your fixed deposit account for the term of at least 1 year. Some banks offer compound interest and offer you to double your money in 6 years. Technically speaking, you can earn $100,000 if you deposited at least $1000 for a period of 10 years (your earnings will be 10 X). Fixed deposit accounts are safer compared to the stock market or other areas of investment. [/QUOTE]
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Bank deposits source of passive income for senior citizens
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