Good luck on 50k in bank interest on a million right now. Money supply will be tightening and interest rates will be going up but 5% from a bank right now is a looking glass number.
You can get 3.5 to 5% dividend return on utility stocks right now. Problem is...in general once bank interest does start going up the utilities are going to look a little like bonds tending to go down in price as people sell to get into banks and other debt dealers to get the relatively safe interest on CD's and money market instruments. So, one needs to be happy with say 4-1/2%+/- dividend on a utility stock (this is NOT advice I like ETR, PPL, EXC, and others) even though bank instruments may be much higher.
So for instance, you buy a $100 stock that pays $5 a year and 4 years later interest is at 10%. That stock may drop down to $50 in value so that the dividend pays an interest rate to a new owner that is 10%...the guy who bought it at $100 is still getting his $5 a year on his investment of $100 which is 5% to him but the people who buy the stock cheaper at $50/share get 10% return on their investment.
This doesn't consider any growth in a company or dividend increases both of which are likely to happen in a growing economy.
For whatever it's worth....