After the TSP, I invest my money in Betterment and Vanguard. I track all of my investments with Personal Capital. I also wrote a short, 2 hour book summarizing this site. You can buy it here.
Lending Club continues to grow month after month, with over $1.5 billion in originated loans since 2007. Here’s the 6 best Lending Club reviews I’ve found from around the web:
- Lending Club Review – 2 Years, 6.23% Return, 5 Loans Charged Off – summarizes my two year experience investing in Lending Club. I’ve adjusted my strategy for 2013 and plan to achieve a 10% return with my new portfolio.
- Lending Club Note Trading Platform – Lending Club $10,000 – Mike at Live the New Economy has been investing in Lending Club for the past year and documents his monthly performance on his blog.
- How I am Investing in Lending Club in 2013 – Peter at Lend Academy talks about his investment strategy for 2013, which is a good introduction to expanding beyond the built in filters in Lending Club. Peter has been investing in Lending Club since 2008 and I would consider his returns and experience to be the most authoritative on this list.
- The Economist on Lending Club – the stalwart British publication The Economist examines the growth of peer to peer lending in the US and Europe.
- The Lending Club Experiment – Mr. Money Mustache is a relative newcomer to the peer to peer lending game, opening his LC account in September of 2012.
- Beat the Market Experiment – Jonathan at My Money Blog invested $10,000 in Lending Club and is tracking his performance every month, comparing it to investing in Prosper (another P2P lending site) and the stock market
I’ve found these six reviews to be the most authentic and genuine.
Take the returns people are posting with a grain of salt, as most defaults/charge offs don’t happen until after the first year of investing. This will drop the 16-19% returns some bloggers are reporting back to the average 6-9% returns most Lending Club users report.
2 Websites I Use to Achieve Financial Independence
The best way I know to achieve financial independence is to keep your investments simple, diversified, automatic, and low-cost. Costs eat into your returns like you wouldn't believe! A 1% difference in expense ratios can mean $100,000s lost to fees over a lifetime of investing.
Even if you're a DIY (do-it-yourself) investor like I am, you need to check out Betterment. You can read my full review here, but the bottom line is for only $250 per $100,000 invested (0.25% expense ratio) you get simple, diversified, and automated investing. In addition every account now gets free Tax Loss Harvesting+ features, which should increase returns for the average investor more than the minuscule management fee.
If you're not a DIY investor or are just getting started with investing, then you definitely need to check out Betterment. It's what I recommend to my family and friends who aren't strong investors or don't care to learn about asset allocations, diversification, or rebalancing.
I have investment accounts all over the place. To keep track of all of them in one place I use Personal Capital. It combines all of my accounts, shows me where I may be overpaying in fees, and provides beautiful charts showing my overall asset allocation and performance.
I use Personal Capital to track my Roth and Traditional TSP, Vanguard IRAs, banking accounts, SDP, and my Betterment taxable account, all in one place. It's free, secure and presents me with a one-stop dashboard so I can see all my money on one site.
Read my full review of Personal Capital and see how easy it can be to manage your investments in one place. Trust me, once you try it, you'll love it.
P.S. - If you have over $100,000 of assets and a 401k, you really need to run the Personal Capital 401k Fee Analyzer.