I mean c'mon, tax free bonds have better returns than LC p2p right now.
Nonsense. If you look at 1 to 1.5 year duration tax free bonds, you'll have trouble getting 1% let alone 5%
I'm not taking money out.
I somewhat agree with fred93. There is no way to get LC interest in any type of "safe" savings/CD/bond right now.
However, I am pulling money out. I keep vacillating between there will be a big recession in the next year to there won't be. When I started pulling my money out of LC 2+ years ago I thought there would be a recession within a year of the next presidency (you know...the new president forces a recession in order to get it over with and blame the old administration). Then does everything in his/her power to end it before his/her term is over so he/she can boast that they ended the misery the previous administration caused).
But with Trump's public works plan I thought maybe the recession would be delayed. Now I am thinking that plan is too little to late.
It all comes down to what I am comfortable with and I am not comfortable with LC. I could very well be wrong and there is no recession in the next 3 years...but if I came back to LC I would worry every day about "maybe there might be". So, for my temperament anyway, 3% or difference is not worth the aggravation....7% would be but not 3%.