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Messages - rlv99

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Investors - LC / Drawing down a LC IRA in retirement
« on: June 18, 2014, 11:00:00 PM »
I believe that IRA withdrawals should be based on need.  If you don't need the cash, then don't withdraw it thereby increasing your account value each month and minimizing the possibility of frivolous spending. Once you reach the age of 70 1/2, the IRS has minimum withdrawal requirements applicable to IRA's.  You can then schedule your withdrawals to comply with that formula which is what I do automatically on a monthly basis.

Be aware that SDIRA takes 6-7 business days (which I happened to think is excessive) for a withdrawal to show-up in your bank account.
Investors - LC / Give up some numbers.
« on: April 16, 2014, 11:00:00 PM »
In Funding      12
issued & Current  2,234
In Grace period        25
Fully Paid              130
Late 16-30               7
late  31-120           20
Default                   3
charged off             9 
Adjusted NAR        15.76%

Most of the above notes are $50. This account was opened 14 months ago.  I have a second account (IRA; average note $100.) which I opened in January, 2014.  Although fully funded now, too immature to recite here.

While I have used IR and Blue Vestment for auto-invest, I prefer to use the LC filters and select my loans "manually".

Since I am already retired my goal is not to "make us rich" but to supplement existing income and preserve principle which LC has accomplished for me to date.  I drag out amounts equal to interest earned during the month minus defaults and charge offs.

Since the number of your Fully Paid is greater than mine I assume you have been on the platform longer than me which would account for the higher number of charge offs as well.  Thanks for sharing.

Borrowers - LC / In need of a short term loan
« on: March 12, 2014, 11:00:00 PM »
Assuming a $900. return with late fee provisions,  you can count me in for 500.
Investing - General (not P2P) /
« on: March 09, 2014, 12:00:00 AM »
IMHO, any public company that makes its money predominantly from fees has a very limited upside.  Unlike the big banks , Goldman Sachs, etc., LC has no skin in the game, and, therefore no ability to make the big bucks.  They are also vulnerable to competition which would impact any long-term projections.

If they change management after the offering and manage their day-to-day operations more efficiently, they should be able to perform well over the long-term.  However, if any real money is to be made on their stock it will be at the IPO, and if you are unable to participate at that point then I would suggest to steer clear of the after-market and wait a few quarters to see what shakes out.

Like Rob L, I wish them luck, but I currently plan on skipping this one for the reasons I give above.
Investors - LC / New Front Page Pie Graph?
« on: December 11, 2013, 12:00:00 AM »
I'm also fed up with the generic, boring title censorship

Workplace title?  Yes, however, doesn't seem to matter since borrowers seem to "exaggerate" their title and LC doesn't check that anyway
....and had no idea how much I wound increase the account size.

Yes, that was my feeling exactly when I started out, and, to some degree, even today.  I think now, looking back, I got caught up contemplating the decreasing availability of notes that I lost track/concern for the significance of the size of the loan fraction.  Should have increased my loan fraction back in July when I past 500.  Thanks for the input SeattleSun (which is an oxymoran  :)  ) and nonentity.

In my opinion, contrary to the article posted by edward, above,  interest rates on  personal unsecured loans cannot decrease due to the high risk that accompanys them.   Additionally,we are currently in a rising interest rate economy which will continue to put an upward pressure on the LC rates. 

My personal LC account, started in April, 2013, now has 2000 notes, totalling $50,000.  My NAR is 16.5% and my XIRR is 11.5%.  I find these levels acceptable relative to the time required to tend to the account.  If I manage to make every release ( which is not possible for me), LC requires about 2 hours ( not counting time spent on this Forum) each day, 7 days each week.

My biggest concern right now is will I be able to sustain account growth.  If not, then I will have to turn my interest to other  investment oportunities.  It is becoming increasingly difficult to acquire C-G loans on the LC platform.  I have recently increased my fractional purchase amount from $25. to $50. which should help in the short term.  However, with the number of "Fully Paid" increasing, the notes that are not issued, and the interest accumulated, that becomes alot of money to reinvest without significantly increasing your account.  For retail investors with $100,000+ accounts it must be a major problem.  Until the retail investor is on a level playing field with the institutional investor,  I don't see this changing.


Investors - LC / Lending robot
« on: December 10, 2013, 12:00:00 AM »
I've signed up.  Now I need an invitation link
P2P-Picks / Personal Portfolio Returns
« on: December 05, 2013, 12:00:00 AM »
Have you been able to analyze your late notes to identify any common contributing  factor?  4% of the total number of notes,  higher if you look at dollars,  seems high imho.

Investors - LC / Folio and IRAs
« on: December 02, 2013, 12:00:00 AM »
Hey Dan

Your girlfriend should put that last post of yours in her book.  It is truly a classic and representative of who you really are!  A champion of the oppressed!!!     8)
Investors - LC / Unverified Borrower Profile Data
« on: November 29, 2013, 12:00:00 AM »
What is this "testing of the system" you mention?  Why would an institution want to pay an origination fee just to see if LC really does issue loans?  And you guys call me paranoid.

Why wouldn't LC simply waive the origination fee for the institutional clients who want to test the process?  We know they discount their fees to them.
Investors - LC / Member claims of unusual abilities with LendingClub
« on: November 12, 2013, 12:00:00 AM »
Considering some of the "elevated" ages around here, I just don't see the endgame. None of you are ever going to be "poor", don't you get it yet? 

What does "poor" have to do with anything, Dan?  Making money, for some, is the "endgame" in itself. Lord knows, there are plenty of people who some may judge as poor who have no intention of making money themselves, but feel justified in accepting money that is earned by others.  Being in a blue state must have corroded your long term thinking! BTW, let our "community" know what happens today at LC.  Isn't the 11th floor
where Stephanie is caged?

For the low fee of $5/mo, you will receive a picture of your deer promptly each month 4 business days aftert the 1st.  Unless there's a holiday in there or "payment procesing delay". 

Hey, core, if I subscribe do I get naming rights?

I believe that there may be other reasons for these new rules.

From other threads on this site, we all know that LC's payment processing and collection procedures are fraught with inconsistencies and very possibly erroneous.  The payment and collection logs are vague, illogical, variable from one loan's log to another, and changable thereby making the logs of little help when attempting to determine the real ststus of a loan's payment history.

Since we pay LC to collect and post the payments to our account, these new rules, imo, help to insulate LC from accusations of mismanagement and/or breach of fiduciary responsibilty since payments on loans in the process of being collected can no longer be traded.  Presumably, these new rules give LC about 10 days to get their collection "act" together.  It will be interesting to see if they use this extra time wisely.
Suggestions / Feature request: Ignore User
« on: November 06, 2013, 12:00:00 AM »
The meetup isn't about LC. It just happens to be at LC. I assumed you'd want to meet your fellow p2p enthusiasts. I guess I was mistaken.

Actually, that would be very nice, if enough of the members of this Forum were gong to be there.  However, I haven't seen any indication that members are going to attend.  Also, I missed Stephanie when I was at LC last month.  If you are going Dan, please report back on what you find.

50?? Good God! Please, forget what I said. No offense but isn't there an upper limit to the term girlfriend?? 

Not when you are 78, as I am!  You may get there, Dan, if your past sins don't put you underground earlier.
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