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Putting Your Savings In Microlending

microlending retirement account prosper kiva

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#1 BigManWalking

BigManWalking

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Posted 17 May 2012 - 11:58 PM

Some of you have charitable hearts.

If you're like me, you might like Kiva.

I've made 42 loans there over the last 2 1/2 years and every one has paid me back or is on track to pay me back.

It's a great way to do something charitable even though it's not technically charity because it's a zero interest loan.

Connect with me to find out more.

IF, HOWEVER, you prefer to receive interest on your money, I also use Prosper and I've been doing that for the same amount of time.

There is no guarantee with either of these sites, but I have done well with both.  (Given what each does.)

With Prosper I have made over 12% on my money most of the time.  Sometimes it has dipped down to 11% or maybe a little less, but as I understand all their charts and graphs and what they tell me, right now I have averaged over 12% for more than 2 1/2 years.

Will it always be that way?  There's no guarantee.

What I like about microlending is that I can lend $25 or $30 (or $250 to $300 if that's your budget) to one person and then maybe I've got 80 or 90 or a 100 loans or more.

That way the risk is spread out.

I have had people default on their loans through Prosper, but that is INCLUDED in the calculations of my interest rate.

In other words, if there had been no defaults my interest rate would have been over 20%.  I doubt that will ever happen, but I have learned some things about who to lend to and who not to and I'm still learning.

But right now I'm doing better than the average Prosper lender (or Kiva lender, for that matter).

I urge you to check them out.

In fact, right now it may be possible for you to lend someone else's money on Kiva.

Check with me on that.


C


Be careful in your dress if you will, but keep a tidy soul.

Mark Twain
Charlie Hicks-Moore
Do What You Truly Want To Do In Life!
1 of my blogs 4YOU - http://ow.ly/aZquc



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