There is no way in hell anyone can live off savings when they are paying 0.10% interest.
All you can do is eat into the principal.
“All you can do is eat into the principal.”
You are most certainly correct — that’s why it’s so important for people to save for retirement while they are working, so they have enough to last them through times like this even in retirement.
Many times people say they can’t afford to save, but actually they can’t afford not to.