Comments on: Review Of Lending Club Progress http://frugaldad.com/2009/05/30/review-lending-club-progress/ Tips for living frugal while still having a life Fri, 20 Nov 2009 21:33:01 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Aleksey Tsalolikhin http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25556 Aleksey Tsalolikhin Sun, 31 May 2009 14:40:56 +0000 http://frugaldad.com/?p=2755#comment-25556 Very interesting! Thank you for sharing this! I need to hurry and finish funding my 6 months emergency fund so I can get onto more investing like this. Thanks! Very interesting! Thank you for sharing this! I need to hurry and finish funding my 6 months emergency fund so I can get onto more investing like this. Thanks!

]]> By: pfincome http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25526 pfincome Sun, 31 May 2009 01:53:00 +0000 http://frugaldad.com/?p=2755#comment-25526 I invested in over 50 Prosper loans over the course of 2008. I will admit I got a little greedy and I am now seeing several of them default (9) which has brought my earnings back to break even. I have thought about using Lending Club as well but my state does not allow it. I invested in over 50 Prosper loans over the course of 2008. I will admit I got a little greedy and I am now seeing several of them default (9) which has brought my earnings back to break even.

I have thought about using Lending Club as well but my state does not allow it.

]]> By: ITDude http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25509 ITDude Sat, 30 May 2009 19:26:30 +0000 http://frugaldad.com/?p=2755#comment-25509 I have heard of this. I dropped $75 into it. The actual default rate is under 3% avg. I figure not a bad deal. Great suggestion frugal dad. I have heard of this. I dropped $75 into it. The actual default rate is under 3% avg. I figure not a bad deal. Great suggestion frugal dad.

]]> By: Neal@Wealth Pilgrim http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25508 Neal@Wealth Pilgrim Sat, 30 May 2009 19:22:10 +0000 http://frugaldad.com/?p=2755#comment-25508 This subject is really new to me. I would love to know more about it. I'll check it out. Thanks, This subject is really new to me.

I would love to know more about it. I’ll check it out. Thanks,

]]> By: Frugal Dad http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25499 Frugal Dad Sat, 30 May 2009 16:28:04 +0000 http://frugaldad.com/?p=2755#comment-25499 @LorN: You are correct; my diversification is pretty crappy. But, considering I had such a small investment, initially, my risk is pretty low, too. As I add more money over time, I plan to spread the money out across more loans. Glad to hear Lending Club is working out well for you!

@LorN: You are correct; my diversification is pretty crappy. But, considering I had such a small investment, initially, my risk is pretty low, too. As I add more money over time, I plan to spread the money out across more loans. Glad to hear Lending Club is working out well for you!

]]> By: LorN http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25496 LorN Sat, 30 May 2009 15:25:23 +0000 http://frugaldad.com/?p=2755#comment-25496 You seem to be investing $100 only in 2 notes. That does not make sense to me from a diversification point of view. I've been lending $500 (20 loans) to try it out for 3 months. So far so good. My return is close to 10%. The reality is that some of those loans will default, but the concept seems to work if you diversify sufficiently. What is sufficient? I' don't know, but I'm getting the feeling it only makes sense when you invest in 100 notes (which will be $2,500). i will be increasing my investment in the next few weeks. You can't beat their returns. You seem to be investing $100 only in 2 notes. That does not make sense to me from a diversification point of view. I’ve been lending $500 (20 loans) to try it out for 3 months. So far so good. My return is close to 10%. The reality is that some of those loans will default, but the concept seems to work if you diversify sufficiently. What is sufficient? I’ don’t know, but I’m getting the feeling it only makes sense when you invest in 100 notes (which will be $2,500). i will be increasing my investment in the next few weeks. You can’t beat their returns.

]]> By: DDFD at DivorcedDadFrugalDad http://frugaldad.com/2009/05/30/review-lending-club-progress/comment-page-1/#comment-25484 DDFD at DivorcedDadFrugalDad Sat, 30 May 2009 12:39:50 +0000 http://frugaldad.com/?p=2755#comment-25484 This sounds very intriguing-- I am going to have to look into it myself. This sounds very intriguing– I am going to have to look into it myself.

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