Be Wells Fargo Now! Borrow Money At 5%, Lend Out To Folks For The Price of Their First Born!
Whenever you get the chance, be the bank!
How do you start to be the bank? It's pretty simple. Here are 5 easy steps...
Borrow money at a low rate
Lend it out and/or invest it at a higher rate.
Reinvest the difference until you get to a point where you are playing with "house money"
Invest that money into an income-generating assets
Find a way to play (or create) "games" where the odds are in your favor for the long term (ex. Mortgage-Backed Securities for banks).
You can do this with a personal loan, line of credit, and as a last resort, with some credit cards.
It took me years to learn the above. It has taken me even longer to actually accept this as a way of capitalism available to all of us, not just the big banks.
Hopefully, you will take these jewels and run with them faster than I did. I'm still playing catchup out here...
The faster you master the above things, the faster you will become financially independent.
