Poll

With Lending Club winding down, will you transition over to Prosper or move your money elsewhere?

Transition to Prosper.
2 (14.3%)
Transition to P2P real estate (i.e. PeerStreet).
2 (14.3%)
Transition to REITs.
1 (7.1%)
Other.
9 (64.3%)

Total Members Voted: 14

Voting closed: December 21, 2020, 04:49:16 PM

Author Topic: What's your next move?  (Read 1521 times)

Debt Free

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What's your next move?
« on: November 21, 2020, 04:49:16 PM »
Crickets are overtaking the forum.  For those of you still checking in periodically, what's next for you?

Fred93

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Re: What's your next move?
« Reply #1 on: November 21, 2020, 05:01:24 PM »
I voted "transition to prosper".  I have been moving money from LC to Prosper, but not all. 

I've been moving some money to stocks, in other words changing my allocations.  There aren't good alternatives in fixed income any more.

storm

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Re: What's your next move?
« Reply #2 on: November 22, 2020, 12:50:22 AM »
I've been moving some money to stocks, in other words changing my allocations.  There aren't good alternatives in fixed income any more.

Same. I'm using the Boglehead method of buying index total stock and bond ETFs.
I'm going to be writing off my LC capital losses for many years to come.

JDII

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Re: What's your next move?
« Reply #3 on: November 22, 2020, 12:54:11 AM »
I am thinking about redirecting the money I've been putting into LC to Groundfloor and Worthy Bonds.  I've done some research on them and will do more in December. 

dr.everett

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Re: What's your next move?
« Reply #4 on: November 22, 2020, 09:59:15 PM »
Fundrise- been on it several years now. Very happy with them.

flyp52

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Re: What's your next move?
« Reply #5 on: November 23, 2020, 12:09:29 AM »
I'm happy with Fundrise too. Started transitioning in 2016 to Fundrise, Realty Mogul, Realty Shares (defunct), Crowdstreet, Lending Home.

Rob L

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Re: What's your next move?
« Reply #6 on: November 23, 2020, 05:48:17 PM »
Equites.

macroman7799

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Re: What's your next move?
« Reply #7 on: November 24, 2020, 01:10:31 AM »
I'll be transferring my LC assets to an IRA to invest in stocks. I am using Motley Fool Stock Advisor to supplement my research.

AnilG

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Re: What's your next move?
« Reply #8 on: November 26, 2020, 10:10:31 PM »
I didnít have much direct exposure to LendingClub and Prosper, no IRA, just regular accounts for myself and wife. It was always part of my play money allocation. At this point, I have withdrawn all cash from both LC and Prosper. Not interested in any other platforms. With what happened to Direct Lending fund, I am not willing to handover money to anyone promising certain return without me understanding drivers of that return, checks and balances in place, and proper due diligence. Majority of play money is now in individual stocks with some allocated to algorithm based trading and angel investing.

But I did quit job to work on PeerCube full time for few years so indirectly that was huge exposure to p2p social lending. I still believe in p2p social lending and in the original Prosper founder vision of auction style interest rate setting with proper guardrails and lender syndication. I am sure someone will figure out in the future how to make it work.
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Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

AmandaKY

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Re: What's your next move?
« Reply #9 on: April 02, 2021, 07:38:08 AM »
I don't know...Lending Club requires a higher credit score, lower debt-to-income ratio, and longer credit history. In contrast, Prosper has developed a proprietary scoring formula called the Prosper Score. Speaking of which, I need your advice. Do you think it's worth spending money on office movers or is it possible to move everything you need from the old office to a new one yourself? I don't want to spend the extra money, but I'm worried that we might not be able to do it ourselves. We were advised to contact https://expomovers.com/commercial-office-movers/ because they have the best reviews. Have you heard of this company?
« Last Edit: April 05, 2021, 02:14:09 AM by AmandaKY »

macroman7799

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Re: What's your next move?
« Reply #10 on: April 18, 2021, 01:44:03 PM »
I wouldn't spend money on Expo to move your IRA. I don't think they'd be much help.

rj2

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Re: What's your next move?
« Reply #11 on: April 19, 2021, 02:08:41 AM »
I wouldn't spend money on Expo to move your IRA. I don't think they'd be much help.

Haha. I think spammers have realized that this forum is going to die and assume no one is moderating it anymore. They may be right...