Endowment manager here. An endowment is a large block of money/capital which is invested to be a "forever fund". The growth of the fund partly hedges against inflation and partly funds things like college chairs, sports teams, etc.
An endowment is a real-world exercise of exactly what you are talking about. So let's look at how the numbers ...
I can't find that particular source, but I'll give you my take.
One thing to remember is that most investments compound, meaning if you save $100 today, you don't just make a flat X forever, the X actually grows as you earn interest on interest earned.
Now, how much X is depends on what you invest in. And what you invest is is a tradeoff of risk and reward. ...
Assume some sort of annual interest rate Ry compounded monthly. The monthly interest rate is then
Rm = 100 * [(1 + Ry/100) ^ (1/12) - 1]
Here's a table of a few Ry and corresponding Rm, assuming monthly compounding:
If you invest $100 and keep it invested at a constant monthly interest ...
When talking about living off of passive investment income, people usually talk about a Safe Withdrawal Rate. Depending on context, this usually means the rate at which you can draw money from your investments without ever drawing them down to zero (or without ever going below your starting balance, or so that your money will last you X years before running ...
Depends on the definition of 'properly invest'; if you assume earning interest on a risk free asset, you would earn 1-2% of that $100 every year, so about $0.10-$0.25 a month. If you assume earning about 7% in a riskier stock portfolio, that could go up to ~$0.75 per month.
Of course, if you earn $100 at 20 years old, and invest it for the next 45 years ...
No, if you aren't doing anything complicated. The intention is to get basic things like PAYE and interest from banks and building societies filed electronically, rather than you having to manually let them know by filing a tax form.
In fact, even if you earn more than the PSA, they don't really want you to file taxes because they know anyway.
"You need ...