Now till Retirement

About three weeks ago I decided I wanted to try out another peer to peer lending service. This time Lending Club would be the target of my investment dollars due to two factors. First off the minimum investment is the not to taxing sum of twenty five dollars and secondly you will receive a twenty five dollar sign up bounty with even just the minimum funding.

So as you can see we are getting a one hundred percent rate of return instantly upon successful funding! How could I refuse? How can anybody refuse? I decided to sign up under another member, rather then just go to the website myself because they also receive a twenty five dollar bounty for their referral of me. So not only am I getting free money, I get to help someone else get a little bit as well without any extra effort!

The applications to become a lender and create an account are short and simple. Creating the ability to lend to others is the easy part, funding it is also easy(link a bank account) but takes quite a while. After you have linked one of your bank accounts It must be verified, which takes some time. Once verified then the request for a money transfer may take place, which takes even more time. After about a week(10 days for me) you should have your twenty five dollar minimum in your new Lending Club account.

You will notice that it pretty much jumps up to fifty dollars instantly. At this point I withdrew my original twenty five dollars to be used for the next investment opportunity and left the “free” money in the account to play around with on a low credit risk loan. If you do as I did, you basically get a free twenty five dollars earnings interest you can forget about and then reinvest the principal you added in the first place to the next deal such as this.

If you are thinking of trying this, feel free to sign up under me…. any bounties I get due to referrals will be used to fund more low risk loans rather than cashed out.