银行定存利率低，未到期无法赎回，从债券、etf、股票三个角度给你解决方案

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一个冷知识

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你把钱存进银行

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本金数字是在涨

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但是购买力却一直在掉

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2026年4月

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中国四大行的一年期定期利率

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只有0.95%

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而生活里真正感受到的通胀

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房租医疗教育服务综合算下来

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一年差不多3%到4%

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也就是说定存一年之后

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你的购买力实际上少了大约三个百分点

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这不是情绪

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这是算术

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今天这期视频

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我把一种绕开这个隐形亏损的思路讲清楚

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美元被动收入三层金字塔

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每个月让美元自动打进你的账户

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先把定存这笔账算清楚

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工农中建四大行2026年4月的挂牌利率

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一年定期0.9%

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53年1.2%

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55年1.3%

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同一时间

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中国官方的CPI同比涨幅大约是1%

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但如果把房租

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医疗教育服务类综合加权

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大家体感的通胀

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大约在3%到4%之间

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10万人民币存一年名义利息950块

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但通胀按4%算

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购买力少了4000块

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一正一负

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净亏3050

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存的越久

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账面数字看起来越漂亮

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购买力却越薄

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结论很直接

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在人民币计价1%利率的大环境下

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定存不是在保本

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它是在以一个稳定的速度让你的钱慢慢变小

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所以要解决这个问题只有两条路

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第一换一种计价货币换成美元

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第二换一种每月自动派息的美元证券

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美元被动收入不是某一只神奇的票

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它是一个三层金字塔

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底层稳中层涨

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顶层猛

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三层叠在一起才是完整的

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每月美元自动到账

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工程底层现金管理

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代表品种是SGOV和BIL

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年化分配率3.5%到4%

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负责替代活期和定存

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中层古稀蓝筹代表品种是可口可乐

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宝洁

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强生耐克以及SCHD和VYM

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年化分配率2.3%到3.8%

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负责抗通胀和复利

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顶层背对看涨

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代表品种是j e p i g e p q s spy

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IQQQI年化分配率8%到14%

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是整个金字塔的现金流引擎

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对照国内一年定期0.95%

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以及体感通胀4%

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底层就已经同时跑赢定存3.5倍

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并且覆盖通胀顶层

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则直接把现金流放大到定存的14倍

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下面一层一层拆底层

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我们只看两只ETF

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SGOV全称are shares

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0~3个月

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美国国债ETF

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把短期美债切成每股100美元卖给你

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bl全称SPDR1到三个月

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美国国债ETF逻辑和SGOV完全一致

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两只加在一起管理规模超过1000亿美元

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这是全球机构资金停泊的国家级安全资产

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收益和成本

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我们看最新数据

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SGOV30天sec收益率3.55%

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费率0.09%

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规模大约840亿美元

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每月分红BL30天

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sec收益率3.50%

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分配收益率3.95%

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同样每月分红

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这个收益率已经是国内一年

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定期0.95%的3.7倍

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SGOV的四个关键机制

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你必须记住

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第一每月派息

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股价基本定在100美元附近

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每月几毛钱现金准时到账

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第二跟美联储利率同呼吸

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美联储不降息

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它的收益率就不掉

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第三几乎零波动

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九七只有零点10年

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价格曲线基本就是一条平线

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第四替代场景非常明确

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美元账户里所有等待加仓的闲钱

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都应该放在这里

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而不是0%的活期

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打个比方

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SGOV就是美元版的加强型货机

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年化3.5%起步

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这一层不是用来发财的

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它是用来在4%的通胀面前

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先把你的购买力保住

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中层我们进入高股息蓝筹

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这一层

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在美股叫做dividend aristocrats和dividend kings

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翻译过来就是古希贵族和古希国王

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规则很简单

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连续25年每年都上调古稀叫贵族

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连续50年每年都上调股息

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叫国王能穿越

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2008

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202020223轮危机

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还在加分红的公司都是被时间筛过的

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现金奶牛

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四张核心牌

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可口可乐KO股息率大约2.6%年

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股息每股两块一毛二

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连续上调64年

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是股息国王宝洁pg股息率大约2.9%年

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股息每股四块三毛五

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连续上调70年

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也是股息国王

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强生券N券股息率大约2.2%

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5年股息每股五块三毛六

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连续上调64年

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耐克NKE股息率大约3.7%

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因为股价回调

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股息率被动抬高

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连续派息30多年

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不想研究个股

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两只ETF就能一键打包

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第一支SCHD加信美国红利股票ETF30天

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sec收益率3.84%

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费率只有0.06%

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基本可以忽略不计

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自2011年成立以来

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年化总回报大约13.3%

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1万美元买进去不动

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现在已经滚到5.9万美元

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第二支VYM先锋

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高股息ETF股息率大约2.4%

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规模720亿美元

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按季度派息

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过去5年股息的复合增长率5.9%

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这一层真正赚的不是今天3%的股息率

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而是复利加股息

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每年上调这两件事加起来的力量

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2011年买进SCHD的早期投资者

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当年只拿到大约2.6%的股息率

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十几年之后

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按当年买入成本计算

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他们的股息率已经涨到12.5%

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你不动手

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公司每年主动给你涨工资

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在4%通胀面前

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这一层就是真正的抗通胀发动机

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顶层是近3年美股最火的玩法

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背对看涨ETF

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英文叫cover call

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一句话原理

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用波动率换现金流

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操作是这样的

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先持有底层的股票

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比如标普500或者纳指100的指数

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然后再卖出虚值的看涨期权或者期权挂钩票据

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英文缩写ELN

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把收到的权利金每个月派发给投资者

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结果也很好理解

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市场下跌的时候

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每月的权利金就是你的缓冲垫

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帮你扛跌

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市场横盘的时候

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你什么都不用干

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每个月稳定吃权利金

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市场暴涨的时候

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因为你把上涨的潜力提前卖掉了

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它会跑输底层指数

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这就是他的代价

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一句话

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你是在用未来可能的上行空间

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换当下每月到手的现金流

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顶层的四张主力牌

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一张一张报给你

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第一张QQQI底层是纳值100

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分配率大约10%

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四

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月月派系费率0.68%

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发行方式NEOS

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第二章s spy i底层是标普500

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分配率

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大约11.9%

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月月派系费率0.68%

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也是NEOS第三张GEPQ底层是纳指100

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分配率大约10.6%

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月月派息费率0.35%

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发行方是摩根大通

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第四章GEPI底层是标普500

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分配率大约8%点

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4月月派息费率0.35%

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也是摩根大通一句话总结

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两家大厂NUS走的是更激进的高派系路线

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摩根大通走的是相对稳健的中高派息路线

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你可以混着配顶层

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这一层税务必须讲清楚

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NEOS系列

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也就是QQQI和s spy i

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他们分出来的很多钱会被划为return of capital

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意思是当年不用交税

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但会相应下调你的持仓成本

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基础可以理解为延税

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摩根大通的GEPR和GEPQ

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用的是医药N期权票据结构派出来的钱

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在美国税法下属于普通利息收入

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作为中国居民

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你需要在券商填一张表

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叫做W8BEN

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填完之后

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券商会按星号星号30%的预提税率

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星号星号自动扣税

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因为中美之间没有股息预提税的减免协定

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像bk2这样的主流券商默认就是30%

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所以有一个简化公式

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记住就行

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你的实际到手率大约等于标称分配率

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00:09:55,730 --> 00:09:57,399
乘以70%

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举个例子

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QQQI标称14%乘0.7

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00:10:02,340 --> 00:10:04,970
实际到手大约9.8%

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仍然是国内定存0.95%的十倍以上

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也是4%通胀的两倍以上

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00:10:12,000 --> 00:10:14,059
10万美元怎么配

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月现金流到底有多少

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00:10:16,429 --> 00:10:18,250
一个稳健型势例

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仅做演示

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不构成投资建议

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SGOV占三成3万美元

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00:10:24,470 --> 00:10:26,110
年化3.5%

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00:10:26,110 --> 00:10:29,100
5年现金流1065美元

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00:10:29,100 --> 00:10:32,220
SCHD占三成3万美元

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00:10:32,220 --> 00:10:33,779
年化3.8%

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00:10:33,779 --> 00:10:36,929
4年现金流1152美元

250
00:10:36,929 --> 00:10:39,289
JEPQ占25

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00:10:39,289 --> 00:10:40,809
2万5000美元

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00:10:40,809 --> 00:10:43,129
年化10.6%年

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00:10:43,129 --> 00:10:45,539
现金流2650美元

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00:10:45,539 --> 00:10:47,820
SSPYI占15

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00:10:47,820 --> 00:10:49,200
1万5000美元

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00:10:49,200 --> 00:10:51,340
年化11.9%年

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00:10:51,340 --> 00:10:53,839
现金流1785美元

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00:10:53,839 --> 00:10:57,119
加在一起加权分配率6.6%

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00:10:57,119 --> 00:11:00,809
5年现金流大约6652美元

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00:11:00,809 --> 00:11:06,039
折算一下税前月均现金流大约554美元

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00:11:06,039 --> 00:11:10,220
填好W8BEN按30%扣预提税之后

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月均到手大约388美元

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00:11:13,669 --> 00:11:15,690
按7.2的汇率换算

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接近2800人民币

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00:11:17,509 --> 00:11:20,409
每月同样金额的70万人民币

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00:11:20,409 --> 00:11:24,610
放一年定期到手大约每月554人民币

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00:11:24,610 --> 00:11:25,389
结论

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00:11:25,389 --> 00:11:27,049
美元组合的月道首

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00:11:27,049 --> 00:11:29,809
现金流大约是国内定存的五倍

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00:11:29,809 --> 00:11:34,730
并且收益率结构性高于4%的通胀风险

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00:11:34,730 --> 00:11:36,129
汇率合规

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00:11:36,129 --> 00:11:40,009
一张卡片讲完第一投资风险

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00:11:40,009 --> 00:11:41,330
美股有波动

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00:11:41,330 --> 00:11:45,090
被对看涨的ETF在大牛市里会跑输指数

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00:11:45,090 --> 00:11:46,629
这是结构决定的

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00:11:46,629 --> 00:11:50,340
不能指望他技高派息又长得比指数快

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00:11:50,340 --> 00:11:52,009
第二汇率

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00:11:52,009 --> 00:11:53,590
人民币换美元

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00:11:53,590 --> 00:11:56,269
每人每年5万美元的购汇额度

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00:11:56,269 --> 00:11:59,570
要走正规银行渠道合规申报

281
00:11:59,570 --> 00:12:02,529
第三税务一定要填好

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00:12:02,529 --> 00:12:06,450
W8BEN分红统一按30%余提

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00:12:06,450 --> 00:12:08,330
在c rs框架下

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00:12:08,330 --> 00:12:08,850
香港

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00:12:08,850 --> 00:12:11,110
新加坡等账户的资金流动

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第四底线

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00:12:15,710 --> 00:12:20,379
今天讲到的所有标的SGOVSCHDQQ

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00:12:20,379 --> 00:12:24,960
qi s spy i都是美国证监会注册主流券商

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00:12:24,960 --> 00:12:26,870
可以公开买卖的证券

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00:12:26,870 --> 00:12:29,690
这是合法的境外金融资产配置

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00:12:29,690 --> 00:12:32,940
和任何灰色资金往来无关

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最后一句总结

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定存1%

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通胀4%

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这不是所谓的保本

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是慢性的购买力流失

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而三层被动收入金字塔是用工具

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用证券

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用全球资本市场

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把你的现金流结构从头到尾重新搭建一次

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00:12:51,980 --> 00:12:55,220
底层用SGOV和BIL跑赢通胀

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00:12:55,220 --> 00:12:57,820
中层用SCHD和蓝筹吃福利

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顶层用QQQISSPYI

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把月现金流放大三层组合起来

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才是真正意义上的每月美元自动到账

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如果这期内容你觉得有用

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点个赞

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点个关注

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我们下期见

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