Making money online

I have surfed for more than 2 years looking for legitimate businesses and ways to make money online. Ya know, there are more scammers and rip-offs online than hucksters at a fair.

But, here is something that is not only legit, oh boy, it can make you money, around 8 to 9% return on investment. Sounds too good to be true, doesn't it. Well, it's not. This is not only legitimate and legal way to make money, many people are involved in it. What is it? Lending money.

Let me explain. This is a company that has filings with the SEC (Securities and Exchange Commission) which also oversees businesses traded on the stock exchange. The Lending Club allows you to either borrow money, lend money or do both, but not at the same time - you do one or the other at one time (unless rules change). I am a lender on the Lending Club. Yeah, you can worry about losing money, and sometimes it happens. What's nice though is the ability to check the background information of a borrower, to see their credit rating, have they ever been delinquent on a loan, and how long have they been a member of the Lending Club. You can even send them an email, asking a question, so the whole thing is much more personable.

If you are either in need of money or would like to make some money, then at least check out the Lending Club. I started lending a small amount, $100, and as I make money I will loan out more. If you are skiddish, that's fine, but still want to make some money, then invest very small amounts, like $50, so if a person does turn out to be really unreliable and defaults, at least not much was lost. When was the last time your bank gave you a 9% return on your investment? Its worth checking out the Lending Club. 

On a cautionary note, don't invest your entire nest egg in one place, that includes having your money in one bank. That's how fortunes are lost.