Lending Club Update

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.

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