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Author Topic: Well, I did it....Transferred my money out

T
  • Posts: 6588
Well, I did it....Transferred my money out
OP: August 20, 2013, 11:00:00 PM
I just initiated a transfer of my cash balance. It does me no good sitting there or floating in 'funding'. I am done with LC at least under the current model. I am sick of fighting and clawing for tiny edges, it is just not worth it. GAME OVER!
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W

WES

  • Posts: 34
Well, I did it....Transferred my money out
#1: August 20, 2013, 11:00:00 PM
I'm probably going to follow you, if not this week, then the next.
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T
  • Posts: 6588
Well, I did it....Transferred my money out
#2: August 20, 2013, 11:00:00 PM
It is just too big of a battle for smallish dollar return. I have an ROI over 16% per LC and over 12% IRR per Interest Radar in my 8 months at it. Problem is, with 15k that i have in it, it is not a lot of dollars even with good returns. And so, while i love the model, this is not for me, WIll let my portfolio ride and sell accordingly on FN and Hasta La Vista
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D
  • Posts: 30
Well, I did it....Transferred my money out
#3: August 20, 2013, 11:00:00 PM
I haven't given up yet, but I think about it quite often now.  I've become a slave to the clock with both LC and Prosper, and I'm barely treading water keeping up with reinvestment.  I've been at this for 2 years, invested a sizable amount with very good returns, so I'm content to wait until another P2P player comes along.  In the meantime, I'm back to trading stocks again and doing quite well, with far less frustration. 
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c
  • Posts: 227
Well, I did it....Transferred my money out
#4: August 20, 2013, 11:00:00 PM
Not to say I don't agree with some of what's being said here, but I was just thinking:

Wouldn't it be funny if the ones doing all the complaining were in reality secretly working for the institutions?  Coming here stirring up trouble trying to eliminate the competition?  It's something to think about.
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c
  • Posts: 24
Well, I did it....Transferred my money out
#5: August 20, 2013, 11:00:00 PM
It's funny because the rules for P2P investing requires you to make a certain amount of income and have plenty of liquid assets (tried to find the exact criteria but too lazy to go to extremes to find it). All that working for a living makes P2P too time consuming.

On the other hand, a retired person wouldn't qualify but would have plenty of time and would really enjoy competing with the big investors and watching her money grow.

You youngins go off and invest elsewhere and leave those extra notes for me  ;D

Carol
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G

GS

  • Posts: 87
Well, I did it....Transferred my money out
#7: August 20, 2013, 11:00:00 PM
I can tell you this, I went to ordering $75 notes, and it cuts down the time considerable.  I have less invested than you, I have a 10K portfolio getting around 11%, and that's only 3 or 4 new notes per month to add through reinvestment ... plus what I sell on Folio.  I'm pricing my Notes higher on Folio so I don't sell many, by design.
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Z
  • Posts: 119
Well, I did it....Transferred my money out
#8: August 20, 2013, 11:00:00 PM
I'd love to hear some thoughts on my post about using a service for auto-investing here:

http://www.lendacademy.com/forum/index.php?topic=1475.msg11032#msg11032
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t
  • Posts: 28
Well, I did it....Transferred my money out
#9: August 20, 2013, 11:00:00 PM
GS,

I've been preaching that also. Bigger note amount = less work for investor. If you already have 100-200 notes, you should be transitioning to 50/75/100 dollar notes.
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T
  • Posts: 6588
Well, I did it....Transferred my money out
#10: August 21, 2013, 11:00:00 PM
Yup, you got me. I am BIG institution trying to manipulate the 50-100 or so active users of this forum. NOT
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c

cfb

  • Posts: 33
Well, I did it....Transferred my money out
#11: August 21, 2013, 11:00:00 PM
I decided yesterday to start drawing down my account to backfill my checking account instead of drawing off my dividends.

BTW, why would a retired person not qualify?  I'm retired, and I'm not enjoying the 5-10 times a day looking for notes and not finding any.
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