How much money do I need to deposit in a savings account so that I won't need to work again?

I want to live comfortably and travel 5 times a year without ever working or running a business.

That means I need $ 400,000 interest per year.

So how much money do I need to save in a bank savings account.

At the moment, banks are not giving much in interest at all. Interest rates are way down, and it does not look like they will get anywhere near reasonable in the next few years.

To get 400,000 a year interest requires a very large amount of money if it is interest at under 2% per annum.

You will need to bank at least $20,000,000 (that's twenty million dollars) to make that much interest at two per cent per annum.

Good luck.