Although I haven't started my Fastlane business yet, I've made a decent amount of money at a regular job and through several properties, which appreciated 200% during the past 10 years. Since I have a decent amount of cash I've been doing a lot of reading about investing. Like others here, I've noticed that it can be very difficult to find ways to preserve your wealth. I'm a bit pessimistic against the dollar and other fiat currencies because of central bank inflation and would certainly not hold my assets in cash for the long term. Gold and silver seem like the best thing currently, at least as a store of value and more than likely a good way to continue growing your wealth for the next few years. A person definitely needs an exit strategy with gold or anything else I suppose, because of the cyclical nature of these markets.
Anyways, I got to thinking about how banks just keep making huge profits and how a person could legally become a private money lender. I believe it is illegal to lend money at interest as an individual, but does anyone know how companies like Money Mart or Payday start out? Can I start a small business lending out my money to people with interest? If not, why? Seems like a good business to be in judging by the banks insane profits! Being a bank seems like a Fastlane business.
Anyways, I got to thinking about how banks just keep making huge profits and how a person could legally become a private money lender. I believe it is illegal to lend money at interest as an individual, but does anyone know how companies like Money Mart or Payday start out? Can I start a small business lending out my money to people with interest? If not, why? Seems like a good business to be in judging by the banks insane profits! Being a bank seems like a Fastlane business.
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