Where can i safely park my money?
- Thread starter konviction
- Start date
Negative Extrapolation: Avoid It!
There is a tendency in bad times to predict that conditions will worsen. On the flipside, when times are good there is a tendency to predict that conditions will get even better.
There is a tendency in bad times to predict that conditions will worsen. On the flipside, when times are good there is a tendency to predict that conditions will get even better.
ya i herd about these guys, and prosper.com but these loans are locked in for what 3yrs?. And I want to keep my money in the broker account and not have to deal with the hassle of taking it out and putting it back in.
Maybe I could invest in a mutual fund?...a funds of funds..whatever its called. Some of these have a 10k requirement and im just under 10k.
hey .wasnt prosper type websites banned from doing business as u need to be a BANK and the FDIC/SEC or some govt agency cracked down on them
http://www.treehugger.com/files/2008/11/prosper-shut-down.php
You are locked into 3 year investments with default rates OVER 10%!!!!
You will break even after 3 years if you are lucky. Prosper and LendingClub are both facing bankruptcy. Stay away.
http://www.americanbankingnews.com/...-how-do-lending-club-loans-perform-over-time/
There are a good number of banks that offer high rates like this. But it's a non starter if you have more than 50K to park since you can't deal with 5 or 10 accounts that compel you to make 10+ ATM purchases per month.
Uncle Ben has made it tough to get yield. Shore Bank in Chicago (now down to 1.70%) and Tennessee Commerce Bank (around 2%) have been among the highest MM's the past year.
Bankrate.com and Ratebrain.com list best national rates for savings, checking, credit, etc.