It's been a while since I've updated with the Prosper.com investment returns. For any of the uninitiated, I've posted a few articles on this peer to peer lending site that is a true Financial Innovation that offers returns not correlated with the general market at 8-12% annual returns, inclusive of defaults. (Full Background Here)
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Here are my current stats from the site:
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Active loans: 81
Principal loaned: $4,711.67
Avg. interest rate: 14.95%
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Loans default over time of course; I just received my first notice that a lender has declared bankruptcy, so I can officially write that one off. In order to account for current defaults, late loans that are likely to default, and the likelihood that current loans will default in the future, there are various independent sites that tabulate the returns of all borrowers.
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Eric's Credit Community has me at a 6.2% projected return for the life of the portfolio, which is decent, given the -4% return of the Nasdaq over the past 52 week period. I made a few rookie errors early on, which have summarily defaulted, but once we get through this credit crisis and we come out of this mild recession, I can see myself starting up a bit more heavily.
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It is worth mentioning that new members can get the $25 signup bonus through this link since I'm and existing member. You can then sign up friends and family for the same signup bonuses.
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Cash Rewards from Credit Card Companies - The Easiest Tax Free $1,000 per year
Elsewhere in the world of passive income, both my wife and I cashed in our most recent credit card rewards of $150 each, which goes right into our kids' college accounts. Someday, I'll tell them I paid for the first year of college on the tab of the credit card companies. I've posted a few articles here on what the best options are for taking advantage of these cash rewards programs.
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