The Lending Club Phone Number 1-855-622-1883
- Toll-Free Number: 888 596 3157
- Days: Monday To Friday
- Timing: 5 am To 5 pm
- Saturday: 8 am to 5 pm
- Postal Email: Landing Club Corporation, Dept 34268
- PO Box: 39000
- Courier Email: WFB – Lockbox Services, Dept:
34268, 3440 Walnut Avenue
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What is the Landing Club
what’s up everybody is sugar Erica from the classy Klein
blog many of you are asking in the comment section and on Instagram what is
Lending Club so this is Lending Club calm definitely just showing you what the
website looks like and then again recognized by The Economist New York Times
Inc started since we took 2007 helped over 2.5 million people achieve their
loans again borrow invest you know check my rate simple Equal Housing lender
You know Better Business Bureau okay they’re not guaranteed you know people get really like all Erica people might run off with the money again I let people if people live in fear or they’re worried about scams you should just go put your money in your piggy charterhouse and sit on it so alright so personal loans overview rates fees business loans okay so your business funding can get up to three hundred thousand as little as a few days get a quote get all your capital upfront one two five year terms fixed monthly payments no prepayment penalties great for a large one-time expense okay it’s that okay so then let’s go back you feel let me personal loans thank you go back alright so personal loan application to get your answer minutes to get a personal loan for your financial goals credit card deck solid action home improvement loans installment loans.
Let me see if I go back to the home page okay 44 million dollars borrow to what five million customers we are not a bank instead it would connect bars with investors from online marketplace investors purchase notes correspond to factions of loans potentially earn competitive rates Lending Club screens brawlers facilitates the transaction service loan bars use loans to consolidate debt improve their homes finance major purse this is there you go just more information you guys can read on your own I don’t want to borrow you bore you to death with it so get here borrow overview rates and fees let’s see if we got here all right so rates are from six point nine percent to thirty-five percent APR now some people say why would anyone pay 35 percent go that’s crazy people are paying 400 percent interest on payday loans so if Lending Club could give you a thirty-five percent loan even though it’s ridiculously high it would be absolutely better than a four hundred percent loan from a payday lender ten times better all right so again your AR piece depends on several factors.
Your crazy rating how much you want to borrow how much you already owe to other creditors save more than a thousand dollars again no impact credit yearly or donation fee it’s only charge you receive the loan it’s deducted from your loan when the loan is issue so you receive the amount you apply for – the origination loan okay now let’s look I only invest in 36 month terms because the average person changes job so I always just stick with 36 months so they have a six thousand dollar loan 36 months term 11 percent ARP eight percent yearly three hundred time one-time origination fee then they will receive five thousand seven hundred deposited in their account and they will pay back one hundred and eighty seven dollars a month your payments each month over thirty six months now you may say Erica who would get 11 percent loan if they’re gonna take five hundred okay somebody who needs a down payment on a car someone who’s trying to get a down payment on their house someone who’s trying to move from California craziness to Texas any of these reasons lots of reasons people would take these loans house repairs and inspected house repairs so again talked about low interest it’s a different rating a fixed rate a variable rate all Lending Club loans are fixed rate so your rate and your monthly payment will never change this is how a lot of people got got in the last housing recession with the variable loan rates okay again what’s the difference between that and that or eh what’s the difference meaning that an application fee they don’t charge your application fees because they are not refundable if the lender declines your application so you’ll never pay application or broker fees to Lending Club origination fees on the other hand are between one and six percent of the loan so what happens after they check my rate you choose your offer okay you get your money okay now you go back up right let me go back up where’s that going oh yeah yeah so let’s say you did a 60-month such as five years for 20k and you got that ten percent you got $1,000 fee so you was received 19,000 deposit in your account your monthly payments will be 405 . Thanks
How to Apply for a Loan on Lending Club
Hi everyone my name is Peter Renton I am the founder of Overland Academy and in this article, we are going to go and actually apply for a loan at Lending Club now we’re starting here on the borrower section of the lend Academy site and if we just go down here we know there’s a whole section for applying for a loan at Lending Club where you can go and watch this video and learn more about it so what we’re gonna do is to click on this link here to apply for loan Lending Club now full disclosure if you go through a link from lend Academy then lend Academy will get a commission for referring you to Lending Club there’s no cost to you but it does what the site and obviously it’s completely optional you can just go straight through to Lending Club site if that’s what you prefer so here we are on a landing page where all you need to do is enter in three pieces of information first you want to enter your loan amount I’m going to enter $2,500 you’re a loan purpose there’s several to choose from I’m gonna put in home improvement and then select your credit score now it’s not critical you get this right if you don’t know your exact credit score it’s really there just to screen people out
If you have a really poor credit so you don’t get through the rest of the process I know mine’s over 720 so I am gonna put that in and then click on check your rate now this is where you start you don’t actually get your rate on this page you need to enter some more information first so this is just pretty typical information your name address income and your due to their tones you don’t influence your social security number at this stage you just go through and go into some basic information I am going to do that and
I will see you on the next page so I’ve clicked on get my rate and Here I am presented with my interest rates and payments and all kinds of things so if you see here I’ve got my interest rate is six point two four percent that’s what I have been given and I’ve had yeah I’ve got my monthly payment Lending Club has gone in those few seconds after you click get your rate it’s gone through and done a whole bunch of checks on your credit and it knows a lot about you already just from there soon entering in your basic information there so that’s how it’s able to give you the interest rate right here it provides here different options for loan amounts and even for doing a shorter-term loan
I’m just going to
stick with the 36 month loan here and depending on what your interest rate is
you’re gonna get different amounts here it might give you a difference between
a three-year loan and a five-year loan or what have you I’m going to leave
everything as is and just say get loan okay now on this screen they want a
little bit more information from you you’ve got to enter your phone number and
whether you rent or own the house you live in and your employment and social
security number is entered at this stage as well I’m going to enter this
information now and I will see you on the next screen okay now we get to the
Truth in Lending disclosure statement what have you take out a personal loan
whether it’s a mortgage car loan or what have you you typically get this Truth
in Lending statement and it just provides you with information about the
charges for the loan how much you’re financing and that sort of thing is your
monthly payment and just if you have a look down here this one important point
I requested $2,500 for this loan but there is a fee associated there’s a $50
fee that I’m Payne and so I’m not gonna receive two and a half thousand dollars
I am gonna receive two thousand four hundred and fifty dollars that’s what’s
actually gonna come into my account now before you go onto the next screen you
should really look at the loan agreement the membership agreement and the
credit score notice this is information that you’ve got okay that you have read
and before you can continue.
I’m just going to check the box that I have read it down previous times then we just click Next and now we have to link our bank account Lending Club requires you to lead your bank account this is where it’s going to deposit the money into and where it’s also going to deduct the monthly payments from I’m going to enter in my bank account information and we’ll see you on the next screen okay that’s pretty much it, for now, that’s all you have to do I have submitted my loan to Lending Club it says here they’re working on it right now basically what happens now is your loan gets put on the platform you can either be put on their whole loan platform for institutional investors or their fractional platform for individual retail investors and people are going to be investing in your loan one point to note here every loan at Lending Club gets funded there is a lot of investor money
They’ll invest interest so if you’re really worried about the fact that oh you know my loan is am I going to get my money are people going to fund me rest assured that every loan is getting funded today it might take you a few days it might take you very little time at all but every loan is getting funded so just be patient there and what will also happen is quite likely Lending Club will contact you they might reach out by email or phone for more information look we respond to that the quicker you get your money I have to go down now I confirm my email address I’m going to verify my bank account and there will be other steps in the process but as far as the applying for a loan itself you have done most of the work it was pretty quick and easy that’s all there is to it hope you found this helpful thank you very much.
Know About Lend Academy Investments
Jason and I spent years looking for the perfect investment opportunity and when we discovered peer-to-peer Jason and I both just lit up this was what we had been all over the world PP lending is exploding right now UK France Germany China is huge in the U.S.
in the past year industry route to a total of four billion so when Jason and I went about developing this into an investment firm we read every article we could find about peer to peer about the industry about the players about what matters and those articles were all written by a guy named Peter Renton I discovered p2p lending as an investor myself
i was looking for ways to increase the yield on my investments with my two partners Jason and Bo I feel like we’ve built a great team jason has a lot of experience on Wall Street he’s worked some of the big names like Goldman Sachs he knows everybody in this industry bo was a financial genius he can do things with numbers that I can’t even begin to comprehend something would take me weeks to do he can churn out in an hour the concept of peer-to-peer investing is simple the execution of investing in peer-to-peer is quite complex we developed lend academy investments for our clients to access this investment opportunity easily and profitably with p2p lending borrowers get a lower rate and investors get to participate and get to earn some of the returns that have been exclusively for the big banks I see this as a meeting of wall street meat Silicon Valley on the wall street side we’ve had really large firms like Blackrock and Banco Santander we’ve had the former CEOs of Morgan Stanley and Citigroup investing on the silicon valley side we’ve had the top venture capital firms in the world invest and probably the the crown jewel of them all was last spring when google invested 125 million dollars into lending club the biggest investment so far in the space so that the heavy hitters have moved in and that crowded out the individual investors a year or two ago a loan would sit on the platform for a week and individual investors could go in the platform analyze the borrower and purchase a loan now because there’s so much institutional capital that has rushed into the space literally 10 loans can be purchased in one second that’s the problem that blend Academy is trying to solve how to even the playing field to let the individual investor have the same access and resources that a big Wall Street firm has in peer-to-peer lending I have never been more excited about peer-to-peer lending than I am today I continue to put more of my own money to work here and I invite you to do the same it sounds like a small thing to bring investors to an investment opportunity to generate five percent returns instead of 0 is that a big deal it’s a big deal than me.
Do you really want to run the risk of loaning money to a
family member or a friend and having them not pay you back? That’s going to get
awkward really quick. But what if you could loan money to a complete stranger
and actually make interest on that loan? You could actually make good money.
That might be
something that you’re interested in. Today we’re gonna talk about peer-to-peer
lending. How it works, the risk involved. We’re also gonna talk about my
favorite peer-to-peer lender, which is Lending Club. And I’m actually gonna
I’m gonna show you
how to open the account, put in my first $5,000, and show you how I would
choose my investment strategy. Now, like any investment out there, there are
some risks. So we’re gonna cover all that in today’s article. Are you ready to
check it out? Let’s do it. (upbeat pop music) Alright, let me tell you. You do
not want to loan money to family or friends. And I can speak from experience.
I’ve had some really close family members ask me to loan them money and I had to say no. It was a very hard thing for me to do, but I knew that I had to do it.
Because what happens when that family member doesn’t pay you back? That’s going to make Christmases and birthday parties and family get-togethers really awkward. So avoid it. And plus, as an investing standpoint, you’re not gonna be making any interest on that money.
You’ll be lucky to get paid back. But, once again, if you
can actually loan money to a complete stranger and make decent interest, that’s
where peer-to-peer lending comes into play.
Now how I became familiar with peer-to-peer lending. It all
started with my blog. So, when I started my blog back in 2008, I just was more
exposed to all these different investment platforms that existed online. And
one of the ones I kept reading about was this whole peer-to-peer lending
concept. So interested, intrigued, I started doing some research and that’s
when I learned what it was.
But for many of you, you may not know what peer-to-peer lending is. So let’s explain it really quick. So how peer-to-peer lending works. If you need a personal loan or if you need a traditional loan, you would typically think of going to your local bank or credit union, filling out some loan paperwork and seeing if they’re willing to loan you the money and what that interest rate is. And that whole process can be daunting, it can be intimidating, it can be time-consuming. Because you’ve got to take time out of your day, of your busy schedule and actually go into this brick-and-mortar location and to fill out this loan. Now with peer-to-peer lending, instead of actually going into a brick-and-mortar building, you can go online and you can apply for the same type of loan online. But instead of going to a traditional bank, you’re going to go to one of these online companies. And just with technology and the way things work, they’ve just made it so much easier, have streamlined the process to where you can get a loan approved so much faster.
And essentially, that is what peer-to-peer lending is. Like, who’s making money in this process? Because in the old school model, the banks and the credit unions, they’re the ones making the money because they’re the ones loaning out that money and then charging you an interest rate. So in the case of peer-to-peer lending, the investor is you. So you’re the one that’s actually making the money because you are loaning, or you are investing in the person that needs that loan.
And with peer-to-peer lenders, what these online companies do is they are the mediator or that third party that makes it all possible. Okay, at this point, you’re probably thinking, “okay, I think the idea of cutting out the banks, “because, you know what? “Those greedy who-know-what, “they don’t need to make any more money.
“So, if I can get a piece of the action, I’m all about it.” But I’m a little bit worried because I don’t want to loan my money to one person, like what happens if they don’t pay me back? Like, that could get really awkward in a hurry. And you talk about a family member being awkward? If somebody doesn’t pay me back, they gotta answer to me, so they better be getting my money. Give me my money back. That’s my money. – Give me my money! (laughs) – [Man] I’m sure my people will be. – In cash! – To illustrate how peer-to-peer lending works, my daughter has graciously volunteered her toys, her My Little Ponies to illustrate how this works. So in a traditional loaning situation, you’ve got one person loaning another person that money. And that person that receives that loan, they’ve very happy, they’re very appreciative that you’ve loaned them that money. And they just thank you very much.
But when you go back to get your money and they don’t want to pay you back, or they don’t have the money to pay you back, that’s when it can get awkward in a hurry. And, you know what, somebody’s probably gonna get hurt. You better pay for my money now. So that’s how traditional loans work. You’ve got one person loaning another person money. And if they don’t pay you back, then yeah. You’re gonna be having some words. But with peer-to-peer lending, instead of you giving one loan to one person, you’re going to be giving microloans to many different people. So instead of giving that one person that one loan, you’ve got anywhere from 10, 20, 30, 40, on up to 1,000 different people, potentially depending on how much money that, you invest. But just like investing into a mutual fund that has, say 100 different stocks, if 10 of those 100 different stocks lose money, or goes belly up, you’re not going to feel it as bad. It’s gonna hurt a little bit, but not like losing all your money into one stock. Same thing with peer-to-peer lending and with these microloans. If you have 100 loans issued, or 100 notes that you’ve invested into, and 10 of those default, it’s going to hurt, it’s going to take away some of that return, but you’re not going to lose all of your money.
And that’s why peer-to-peer lending has become so popular in
the last several years. It’s so easy for investors to get a good return on
their money. It’s easier for those that need to borrow money to apply and get
approved for these personal loans. And the fact that interest rates continue to
be at all-time lower levels, where you’re not getting decent returns on
fixed-income opportunities like bonds and CDs and other investments like that,
it’s an attractive opportunity to get a decent return compared to what’s out
there on the other markets. Okay, now that we understand how peer-to-peer
lending works, why am I choosing Lending Club? Or why should you consider
Lending Club as your peer-to-peer lending investment platform? So first and
foremost, Lending Club is the largest peer-to-peer lending company that exists.
They have over two million customers and have issued over $33 billion in loans.
That’s 33 with a capital B. So for me, when I started
investing in peer-to-peer lending, it was kind of a no-brainer to start with
Lending Club. I mean, they are the largest. They are the most recognized.
I have opened an account with Prosper, which is the second-largest company, and definitely one of their competitors.
So I do have accounts
with both. But most of my money that’s invested in peer-to-peer lending is with
Lending Club. Alright, before I show you the returns that I’ve made on my other
Lending Club accounts, and before I show you my investment strategy with this
new $5,000, I first want to talk about the risk involved.
Because there are risks involved in investing in peer-to-peer lending. No matter if you choose Lending Club, Prosper, or any of the peer-to-peer lenders that exist out there. So, what are some of the risks? The first thing you gotta knows that these are unsecured notes. These are unsecured loans that people are applying for.
So if they default or choose not to pay, then you do have
the risk of getting your money back. Now, if these people choose not to pay, if
they’re borrowing money, taking out a loan, and not honoring, paying that back,
this is going to kill their credit.
This is just like not paying a credit card. Or not paying a car loan. So for somebody to not pay on that loan, they’re ruining their credit, so do know that. Then what happens? Well, there is no protection on these.
So if Lending Club were to go belly up, yes they could sell
these notes on the secondary market and you might get some of that money back,
but don’t plan on it.
These notes are not insured by the FDIC or the SIPC. So if
the company were to go bankrupt, or the person were to default, you’re gon’ to
lose your money.
But that being said, you have to realize that most of the people that are taking out these loans, they’re looking to refinance or pay off high-interest credit cards. And the average credit score on most of these people is just below 700, at 699. So a lot of times people have this misconception that only people with really bad credit are applying for these loans, so they are at a greater chance of defaulting.
But that’s entirely not the case. Most of these people are just trying to pay back some high-interest debt and try to refinance so that can either lower their payment and get rid of their debt a lot faster.
As it pertains to risk, there’s something else I have to
mention in regards to Lending Club. And this is specifically for Lending Club
and not the other peer-to-peer lenders.
So there was a bit of a scandal that happened back in April of 2016. There was a Lending Club employee that reported directly to the Lending Club CEO. And they found that there was $3,000,000 worth of notes that had been altered. And when they reported this, the internal auditor of Lending Club then ordered an external investigation and they found out that there was an additional $22,000,000 worth of notes that were sold to another investment bank that didn’t meet the stringent Lending Club criteria in applying for these loans.
In addition to that, the CEO had this company that was outside of Lending Club and was trying to sell it to Lending Club but didn’t feel to need to tell Lending Club that he had ownership in it. That’s kinda shady, my bud. So after the dust settled, the CEO was forced to resign. Thank goodness. And since then, the Lending Club stock has suffered. It’s trading about $4 a share, well below its IPO price that came out several years ago. But I’m not talking about investing in Lending Club stock in this article.
What I’m talking about is investing in the notes. And that’s where I still like them. Especially if we’re looking at something to compliment the bonds or the fixed income holdings in your portfolio. Now that we’ve got those formalities out of the way, we’re gonna get to the part where you probably care about the most, how do you make money? How much interest in you gonna make? What can you expect to make? What does that look like? To show you how much I’ve actually made, I’m gonna share with you some of my older Lending Club accounts I’ve had open for several years. And you’ll be able to see the actual return that I’ve made on my money.
And then I’m gonna show you my new Lending Club account that I’ve funded with $5,000. And I’m gonna share with you my investment strategy and how I was able to determine how much I want to make, depending on how much risk I’m willing to take.
So that’s what we’re
gonna get into right now. Alright, so let’s take a look at my Lending Club
account. So this is the largest one of now the three accounts that I have. Just
looking at this, I can tell that I haven’t given this account the TLC, the
tender loving care, that it needs, it deserves. And I’ll explain that more in a
First, you can see that the current account value is $25,425. My net annualized return is 5.51%. The interest received is $13,176. And I’m gonna show you the total payments that have been received. So, the total principal that has been paid back is $47,000. Interest at $13,000.
I had to transfer something out of this account a few years
ago, that’s why you see some of these numbers. Which doesn’t really factor
here, but. The first thing that you’re going to see is available cash. So I
currently have over $2,200. $2,270.70, to be exact.
That is sitting in cash. Now you can set up automated investing. At the time, I wasn’t reinvesting back into notes automatically. I wanted to do it on my own. I don’t know why. As busy as I get, I should have set it up, automatic investing, just so now you know for your own account. However, you want to do it. Now some people don’t want to do that because they want to get the cash and they want to keep that handy, just in case. But, you can do that automatically. Now, as far as the return goes, let me speak to that real quick. You know that is lower than I initially had hoped. When I first started this, I saw people that were making seven, eight, nine, double-digit returns. You’ll still see some blog posts that talk about people making 12%. Can you do that? I guess you could. You’d have to go really, really risky with that. So it really just depends on what your risk tolerance is. And I’ll explain that here, probably right now. So, you look at the current holdings.
So the type of notes that I have. So, with these, each borrower is given a rating class, which I’ll share more of this going forward. But, as you can see, with these notes that I own, with A notes, so these are like, the best-rated borrowers, I’ve got 8.6% in A notes. B is 17.8%. C is 23.4%. And D is 25.1%. And E is 13.5%. I do have some there that are in F and G, but I have probably more in the A, B, C than for somebody that’s trying to get a higher return. That’s one of the factors, but the biggest factor is the term. So right now, with Lending Club, when I first started this, they only offered the 36-month note.
Or the 36-month loan. The 3-year loan. I’m not sure when they added this, but they added a 60-month loan. So, a 5-year loan that people could apply for. And if you put more money that 60-month loan, you’re going to get higher interest because it’s a longer-term. So right now, you see I’ve got 86% in the 13-month notes and 13.5% in the 60-month notes. So if I had more in a longer-term note, then the return would be or should be, much higher than what you see now. So that’s something that, going forward, I just want to be more conscious of that and probably need to log into here more to see. This has been kind of a set-it-and-forget-it investment account for me. Like I said, I put it in there, every once in a while I’ll log back in and just, actually, I could do it right now. So let’s just show you. I’m gonna show you this again. So, we’ve got automatic investing and, I don’t know if I should do this right now. I probably don’t even know what I’m doing. So, invest. So, you can see the current allocation.
So I have an automatic return off. Blended 36 months notes. So, if I wanted to do that, I could do that, or I could just invest as is. I think what I want to do, I could do it now, but I’m actually going to show you the new account that I’m opening how I decide the current allocation and how I’m going to invest. So I kind of got a little ahead of myself there, but I’ll show you in the next one how that’s gonna work out.
But I still have another account I want to show you. A smaller account. Which we’ll look at right now. Okay, here’s my other Lending Club account. As you can see, it is much smaller. I started this account, I think it was two, probably three years ago now. I put $1,000 into it to start. It’s currently worth $1,220.35 for a net annualized return of 5.25%. Like the other account, I’ve got $377 sitting in cash that I need to invest and I’m pretty sure I probably don’t have automated investing on this one either. Similar to the other account, just looking at the holdings. Similar. You can see the percentage of A, B, C, D, E, F notes. And then, the same thing. With the term, with this one, I’ve got 92% in shorter-term, 3-month notes. And 7.4% in the 60-month notes. So that is, once again, it plays into the factor of why you’re seeing such lower returns with these accounts.
Now, once again, if
you’re not comfortable going that long, then I wouldn’t just for the sake of
getting more return. You want to stay with what your comfort level is.
But I could alter this to having more in the lower-grade notes to get that invested. Instead of having more in the A, B, and C. So, anyway. And you can choose those like I said, I’m gonna show you in the next account how I decided how my investment strategy is going to be. Which we’ll go ahead and go to that right now. Alright, so with this new account, my goal was I wanted to get it as close to 7% return as I possibly could. And that’s kind of the cool thing, if you are devising an automated investment strategy, you can just toggle how much you want in A, how much you want in C, how much do you want in C, D, E, and F, so on and so forth. To get to that point where you’re getting to that closest return possible.
Now, this is if you want to choose your own, or I guess you want to have an on-going investment strategy. But if you want to go in and choose the individual notes as well, you can do that. Now, what does that mean? Like, why would you ever want to do that? And I guess you’d want to do that if you want to have more control over what the notes are. Because I think you can actually dive in and see what does the person needs, what are they taking out the loan for? Like, what are they looking to use that money for? Is it to repay off a credit card, is it to start a business, you know, what is that? Now, and I don’t know what the limits are here though, but you obviously don’t want to give too much to one person. We’ve already talked about that, right? If that one person does default, like, that’s not a good thing. So you don’t want to go down that direction.
But, for me, did I want to go super aggressive, like, eight, nine, 10%? Um, 7% is where I was comfortable with, and that’s where I’m going to stay here. I’m just going to make some adjustments to my other accounts, especially my larger one, to see if I can get a higher return, closer to that 7%. And the way that I’m going to do that is to choose notes that are either paying a higher return, we talked about having a long term, maybe a riskier grade. But yeah, that’s how it works.
And it’s super easy
to get the account open. To get the account funded. And then, as I’ve shown
here, choosing that investment strategy is pretty dang easy. And you see this
with a lot of the online platforms, that they just make it easy. Because they
assume that most of us are dumb, and I’ll throw myself in there as well. And
they just want to make it easy for people to start investing, to start making
interest. And that’s how it works. Now, the one thing that I, actually no I’ll
say this. So, with Lending Club, you can open up a regular account, you what
you’ve seen with me, I’ve got two taxable accounts. They’re two individual
accounts. And I have my 401(k). It is self-directed 401(k), so it’s actually
kind of set up like a trust. It’s a whole other story.
But they do offer retirement accounts, so if you want to do a traditional IRA or a Roth IRA, you can do that. You can also do custodial accounts, you can do 401(k) rollovers. Whatever type of account you want to do, they can do it. Now, I don’t know if I’ve stressed this, but I definitely want to. With the total amounts that you see, with the $25,000 in one account, $5,000 in the other, $1,000, so you’re looking at $31,000, total. That represents, for me, less than 5%, actually probably even less than that, let’s just say of my retirement accounts and investment accounts, like, less than 5%, probably closer to 3% of everything that I have.
Would I be comfortable going more into peer-to-peer lending or with Lending Club? I would cut it off at 10%. I don’t think I would go any more than that. But I think just as another option, I just like it to where it’s just a different investment option, you know? And with the last few years, the stock market going crazy and bitcoin going crazy, when you look at 5.5% or potentially 7% for most people, like, that doesn’t seem like enough. Like, that’s it? But there is going to be a time where the stock market does get back to normal. And you’re not gonna see these double-digit higher returns, crypto-currency gonna eventually mellow out a little bit. Yeah, I said it. It’s gonna mellow out. So this is definitely just another option. Is it right for everybody? No. And if you’re a younger, bitcoin crazy investor, you’re probably thinking, “this is boring! “I can make 7% in an afternoon.” I get it. This doesn’t work for everybody.
But for me, it is a nice addition to my other investments that I have. And if you’re curious about that, you can see some of the other articles where I talk about what I own and types of investments that I have. So anyway, that is Lending Club. That’s how it works. I’m curious. Do you have a Lending Club account? Have you tried peer-to-peer lending? Would it be something that you would consider? I want to know. Hit me up in the comments below. And let me know if you’ve tried out peer-to-peer lending if it’s something that you’re considering. Have you opened a Lending Club account? And if so, what has your experience been? What have your returns been? Alright, well I hope this was helpful. I always try and educate and just share just different investment strategies that people can test out to see what works for them. Just remember, every investment doesn’t make sense for everybody. But there are investments that make sense for your situation. You just gotta do the time, put in the time, the research to figure out what that is for you. Alright, this is Jeff Rose reminding you that it’s your money, your life and only you can make it awesome. And if you haven’t liked this article, you can go ahead and do that now. And subscribe because I’ve got more great content coming your way. Until next time. Peace. – How do you make money? I just burped. (burps) That was a good one. (slapping noises) If somebody doesn’t pay me my money back, Thanks