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LendingClub Money Transfer

LendingClub Money Transfer

Call me a silly goose, but I got excited this morning when I saw that my LendingClub funding had transferred out of my bank account. I immediately logged into LendingClub, but to my dismay, the money had not posted there yet. So right now my money is floating somewhere between my bank account and my LendingClub account. I feel a bit weird about that. LendingClub probably has it in their coffers, but they have not transferred into my account yet. My bank account doesn’t show the transaction as pending so I know it is no longer in there. How interesting!

I am really excited to start buying notes at LendingClub for various reasons. So many of the top financial bloggers that I read have found success at LendingClub. This is by no means a “get rich quick” scheme. You’re lending money to someone and they’re making monthly payments to you. I’m not able to lend directly to a LendingClub borrower here in Texas, but I will be purchasing notes on their trading platform. I like the fact that I can see the borrower’s payment history, which is something that is not available if you’re funding the new loan.

Multiple income streams can lead to financial independence. This site isn’t about financial independence as much as it is about net worth growth, but I won’t complain if I find financial independence as I grow my net worth! LendingClub is one of many income streams that I hope to build. Here is a small list of possibilities.

  • LendingClub
  • Dividend Stocks (including Master Limited Partnerships)
  • Savings Account
  • Rewards Checking Account
  • Certificates of Deposit
  • Bonds

I hope to figure out some more streams of income as I learn more about new financial instruments. Afte I get my LendingClub account going, I plan on setting up a dividend stock portfolio. I’ll keep everyone up to date about that through our monthly newsletter. If you want to stay updated, please subscribe by clicking here.

Categories: Investing, LendingClub
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