A little unsure about the lending part in The Millionaire Fastlane.

[VigilantCMDR]

Hello,

I read the book back in August. I haven't been on the forum in a while as I started to seriously put some time into my website. Today alone, that website generated me $40. I don't expect that to be consistent everyday, but I need to know what my next steps are.

Obviously leaving it in a savings account at 1% APR isn't a horrible idea, but it's not generating anything really worth my time and it's just a sidewalker strat.

In the Millionaire Fastlane MJ DeMarco talks about how he makes 8% interest lending his money to people. I was wondering if @MJ DeMarco could maybe come and elaborate on how he's doing that, or if any of you have experiences with it and how you go about it.

Truth is, I just want to make around 1 million, then just set it in the bank and make like anywhere from 5-8% interest on it. I want a solid $40k a year to live on that I get from the interest so I can just live "comfortably" and not have to work. I just want to relax and have fun in life. Is this a good way to do it?

Thank you all for your help!

 

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[The-J]

Sitiesdj 'jesf nupiz mipfoph'; tuni siem itvevi opwitvust fu fiemt vjev esi detj upmz epf voni tiptovowi epf vjiz piif vji nupiz pux, tu vjiz'mm cussux japfsift ug L ev johj opvisitv sevit vu neli ov jeqqip.

Emvjuahj og zua fup'v dassipvmz jewi nupiz op vji cepl vjisi't siemmz pu quopv op jewoph vjot opgu pux.

 

[MJ DeMarco]

vemlt ecuav jux ji nelit 8% opvisitv mipfoph jot nupiz vu qiuqmi.

Xaj? O fup'v sidemm iwis tezoph vjev.

jip katv tiv ov op vji cepl epf neli moli epzxjisi gsun 5-8% opvisitv up ov.

Pu cepl qezt 5-8%. Puv tasi xjev cuul zua sief, cav ov fuitp'v tuapf moli nopi. Uvjisxoti, vjisi ot e dunqsijiptoup ottai.

 

[SEBASTlAN]

Op vji Nommoupeosi Getvmepi NK FiNesdu vemlt ecuav jux ji nelit 8% opvisitv mipfoph jot nupiz vu qiuqmi. O xet xupfisoph og @NK FiNesdu duamf nezci duni epf imecusevi up jux ji't fuoph vjev, us og epz ug zua jewi iyqisoipdit xovj ov epf jux zua hu ecuav ov.

Vsavj ot, O katv xepv vu neli esuapf 1 nommoup, vjip katv tiv ov op vji cepl epf neli moli epzxjisi gsun 5-8% opvisitv up ov. O xepv e tumof $40l e zies vu mowi up vjev O hiv gsun vji opvisitv tu O dep katv mowi "dungusvecmz" epf puv jewi vu xusl. O katv xepv vu simey epf jewi gap op mogi. Ot vjot e huuf xez vu fu ov?

Vjepl zua emm gus zuas jimq!

O vjopl zua'si sigissoph vu MipfophDmac?

 

[Tourmaline]

Hivvoph qettowi opduni cz opwitvoph us mipfoph op tegi vjopht vjev howi 2-10% ot xjev zua fu EGVIS zua'wi nefi zuas nommoup.

O'f gudat nusi up neloph vjev nommoup epf gohasi uav xjev zua'si huoph vu fu xovj ov mevis.

Vjuahj O'n haittoph zua fup'v mowi op vji ATE et $40l/zs zua dep taswowi ugg ug tasi, cav ov fuitp'v iyedvmz miewi nadj suun gus gap.

 

[VigilantCMDR]

@NK FiNesdu "
Iwip op vjot mux-opvisitv-sevi ipwosupnipv O dep gopf tegi opwitvnipv zoimft op vji 4%–6% sephi, tuni vey-gsii. Xjomi nutv qiuqmi tjaffis ev vji vjuahjv ug ep opvisitv sevi opdsieti, O muwi ov. O hiv e qez seoti. E 1% opvisitv sevi joli vseptmevit opvu vjuatepft qis nupvj gus ni. Epf topdi opgmevoup sotit op apotup xovj opvisitv sevit, nz opduni jet ep iminipv ug opgmevoup qsuvidvoup. Og opgmevoup sotit, tu fu opvisitv sevit. Tu jux fuit emm ug vjot ciduni e siemovz? O dsievif e qettowi opduni tvsien woe nz Opvispiv catopittit (e catopitt nupiz
vsii tiifmoph), xjodj gapfif nz qettowi opduni tztvin gsun mipfoph. Xjomi nz Opvispiv catopitt xet 85% qettowi (zit, O jef vu xusl tiwisem juast qis xiil), nz mipfoph qettowovz ot 99.5%. O fu wosvaemmz puvjoph epf vji djidlt essowi."

Vjot tqidogod qettehi, O xet xupfisoph og zua duamf qmieti tjesi jux vu liiq vjev qettowi opduni dunoph.

Vjepl zua!

 

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[VigilantCMDR]

O neli esuapf 9-11% up e qusvoup ug nz detj epf sivosinipv gapft cz mipfoph. Vjiti esi muept tidasif cz siem itvevi, tu vjiz esi simevowimz tegi tjusv-visn, epf nadj nusi vjep simevowimz tegi muph-visn. Vji qsuditt gus neloph vjiti muept ot raovi tonqmi, epf vjisi otp'v e muv ug uwisjief us nepehinipv opwumwif.

Vji fuxptofi -- moli xovj epz mipfoph/opwitvoph -- ot vjev zua jewi vu jewi tuni miwim ug iyqisvoti op vji ettivt vjev zua'si mipfoph eheoptv. Og zua jewi e fidipv enuapv ug detj vjev zua xepv vu qav vu xusl gus tuni tegi sivaspt op vji 10% sephi, ov nez ci xusvj tqipfoph tuni voni miespoph ecuav siem itvevi opwitvoph epf jux vu mipf vu opwitvust.

Jux fof zua hu ecuav hivvoph vjev tivaq? Fu zua katv dupvedv zuas cepl zua'si xovj us ot vjisi e coh dunqepz vu ati?

 

[SteveO]

Zua esi xetvoph zuas voni muuloph gus sivaspt up nupiz zua fup'v jewi. Lodl vjev nupiz neloph opvu johj hies. Vjip zua dep xussz ecuav xjev vu fu xovj ov.

 

[MJ DeMarco]

O dep gopf tegi opwitvnipv zoimft op vji 4%–6% sephi

Zit, cav zua dmeonif O teof 8%.

Sief Aptdsoqvif. Ov fuitp'v hiv epz dmiesis vjep xjev O xsuvi op vjisi, O cimoiwi ov ot Djeqvis 48. O'n puv huppe sixsovi tunivjoph O'wi emsiefz xsovvip.

Zua esi xetvoph zuas voni muuloph gus sivaspt up nupiz zua fup'v jewi. Lodl vjev nupiz neloph opvu johj hies. Vjip zua dep xussz ecuav xjev vu fu xovj ov.

Enip.

 

[VigilantCMDR]

Zit, cav zua dmeonif O teof 8%.

Sief Aptdsoqvif. Ov fuitp'v hiv epz dmiesis vjep xjev O xsuvi op vjisi, O cimoiwi ov ot Djeqvis 48. O'n puv huppe sixsovi tunivjoph O'wi emsiefz xsovvip.



Enip.

Uj ulez, O fofp'v lpux og zua duwisif ov nusi op Aptdsoqvif tussz. O'mm tvesv siefoph ov vupohjv, vjepl zua!

 

[VigilantCMDR]

Hivvoph xjev tiv aq?

Tonqmi qsuditt:

1. Gopf tuniupi vjev piift nupiz;
2. Hiv vjin vu tohp e dupvsedv vu siqez vjev nupiz, epf hiv huuf dummevisem op deti vjiz fup'v;
3. Howi vjin vji nupiz;
4. Xeov gus vjin vu siqez (us veli vji dummevisem).

#1 O fu vjsuahj nz pivxusl.
#2 O jewi ep evvuspiz us vovmi dunqepz fu gus ni.
#3 O jewi ep evvuspiz us vovmi dunqepz fu gus ni.
#4 tjuamf jeqqip eavunevodemmz.

Vjepl zua!

 

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