I’ve invested $5199 in Lending Club loans so far. The account value currently stands at $5,415.31 (adjusted down from $5497.04).
$1063.13 in payments.
$686.80 in principal
$376.17 in interest.
$70 was written off for 2015 for 3 charged off loans.
The current markdown is $81.73 from 2 in grace period and 4 31-120 days.
so let’s call the losses $150 so far.
That’s $226 on $3199. Really 7.1%. If I’m taxed at my normal 38% rate, that drops to 5% after adding in the tax savings from the chargeoffs. Bleh. They’re advertising 9.97%, on the logged in home page, which is apparently horse shit.
That’s pretty discouraging. It’s like fuck – how am I supposed to make money. The money I’ve invested through an advisor has done horribly. The money I’ve invested w/ Lending Club is basically just keeping up with inflation. More motivation to start a business instead of wasting time with this bullshit.
Apparently $39338 was my total savings for 2015. Below the $48k I wanted :-(. I should go back and square that with whatever I calculated earlier.