Lending Club

Lending Club

In an effort to diversify investment ideas for growth and returns I have decided to give Lending Club a try. Signing up for an account was really straight forward and easy, funding the account took a few days. I started with $5,000, this makes me eligible for their $50 bonus to invest. I didn’t want to do too much work as I already spend lots of time after work looking at charts for ETF’s so I opted to enable automated investing. Lending Club had a few premade options, I went with Platform Mix which gave me a projected 6.68% return and invested not only in low risk, but also higher risk notes.

Lending Club Platform Mix

I have no plan to take any profit out of Lending Club for the first year, it looks like if all goes as projected it will net $334 the first year. The percentage is better than having it sitting in the bank or a CD with the current rates of about 1%. It also helps me diversify away from solely stocks. The image below is the breakdown and note size that was preset.

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For those looking to do the same thing, you can sign up here. I will be posting the results monthly so my viewers can follow along.

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