Prosper: Invest

I started using prosper about 2 years ago. I put in $2000. My interest rate varies from 11 to 15% increase. I have had one defaulted of $60. Anytime I have $25 or more pairs back to me, I reinvest it in prosper. I like it, the money you put in SHOULD NOT be your emergency fund or money you “care about”. The loans can be anywhere from 2 years to 5 years so I would t expect getting all of your money back soon. Currently it says I have $2500ish in loans (because I reinvest) and I withdrew almost $400 when I had it in there and needed it. This is a high risk, I really try to look in the class of loan (AA-E) and the information posted about the person I’m loaning to. Hope that helps, but again, I like it so far and I hope to just continue to reinvest into more loans and see where that takes me. Good luck!

I’m nearing the 5-year mark since starting my Prosper journey, and overall, I would highly recommend the platform. The app interface is clean and intuitive, and the auto-invest feature has made Prosper a very low-maintenance investment vehicle for me over the years. Due the the long-term investment approach, Prosper has in a way become a psychological nest egg building savings account for me. Great alternative investment platform to help diversify your portfolio— especially for anyone who would benefit from having investments that aren’t easy to emotionally buy/sell all the time. I’ve gradually made small increases to the transfers going into the account and reinvest all interest earned… no withdrawals planned until the account reaches a target level in the future. The main things that could use some work: 1) I don’t like feeling like I have to always work between the website and the app since each has different functionality/views. Messages and notifications are on the website only, for example (why?!). 2) The app has a great simple view for showing historical gains… but just for the very moment in time that you are viewing it. They need to improve tracking these gains. It sounds ridiculous, but I literally take periodic screenshots in order to look back and compare what my average monthly gains are over time. Please, please add functionality to view gains/losses by month— or better yet— the ability to filter by specific dates to view the simple gains number for any date range selected. /// These are technical pet peeves coming from years of using Prosper Invest… I really recommend the platform overall. I recommend creating initial funding and portfolio allocation strategies you are comfortable with and sticking to them, only making planned, periodic changes. 🌟

If you’re looking to diversify your portfolio prosper is a good option. Full disclosure, I consider myself a regular person who tries to invest with his limited knowledge. I am not a banker or financier, just a working professional trying to maximize his money into investments that grow. I saw prosper as an opportunity to do this. Prosper makes it very easy on their app to invest and check your returns. I have been a lender with prosper for at least 5 years now. At one point I was ready to pull my investments from prosper after getting discouraged with some failed repayments by borrowers. While I did withdraw some of my investment, I still kept more than half of my initial capital investment tied into loans. I decided against fully withdrawing and closing my account after realizing it was a safer investment and offered decent but modest returns. If you’re looking for large returns north of 7-8% you’re in the wrong spot. But a return of 4-5% is very possible. You just can’t have all your money tied down in equities. That’s just not safe. And while some prosper investments fizzle when borrowers fail to repay, the vast majority do. I don’t have a huge sum of money invested in prosper but I like the balance it provides me for my portfolio.