Investor Junkie
My Business and Financial Freedom Journey

Performance Update For Lending Club

Lending Club – Update

When I initially reviewed Lending Club last December I promised I would give periodic updates.  That time has come.  I’ll let my screenshot speak for my results:

As you can see my performance has increased from 10.45% to now an annual return of 11.27%.  Some highlights in my investing for the past three months:

• I sold one note on FOLIOfn because their credit score lowered significantly and was concerned they were going to either become a late payer or default.
• I now have 38 notes total. One paid in full early.  No defaults or late payments.
• I just added an additional $1k this month and plan on investing in more notes

Come June, I’ll be investing in Lending Club for one year.  So far I’ve had great results and been happy with experience.

“Stop Acting Rich” by Thomas J. Stanley – Book Review

So you want to become wealthy? Have you ever wondered how others who have started with nothing, retire with a high net worth (over $1 million in assets).  The best way is to study your prey – do what they do and you’ll reap the same rewards.  Thomas Stanley has been doing just that for over 20 years.  With his influential book “The Millionaire Next Door“, he discussed in depth what is the typical life of a millionaire.  It’s an eye-opening book that goes against many misconceptions.  In my opinion this book forever changed the way I think about being wealthy.  Thomas has spent many years of researching, interviewing, and gathering statistical analysis about the subject.  In continuation of his previous books, Thomas Stanley just released “Stop Acting Rich and Start Living Like a Real Millionaire“.   The evidence he presents, goes against the grain of what we typically see in the media, and what most people assume how the wealthy live.  After reading his previous work, I just had to read this latest book.  I’ll review and discuss some interesting information I found.

“How to Make a Fortune from the Biggest Bailout in U.S. History” – Book Review

It’s been said many investors profited from the Great Depression.  What on the surface was a horrible period, made many people wealthy in the long run, and also advanced the theory of investing.  After all, Benjamin Graham wrote the classic book “Security Analysis” in 1934.  I think the same can be said from the “Great Recession” that we are currently experiencing.  Money is made when everyone is heading towards the exits, not when everyone else is buying.  The past two years have opened up some great opportunities to invest, and might be some of the best ones we’ll see in our lifetime. Change can be good, if you know what to look for.  Ron Insana of CNBC fame, and x-hedge fund manager decided to offer his guidance on the subject.  Mr. Insana’s book is called ”How to Make a Fortune from the Biggest Bailout in U.S. History”.  If you are an investor junkie like me (sorry I couldn’t resist), you know who Ron is, and you have seen his familiar face on CNBC for many years.

Morningstar Review

I’ve been a Morningstar premium member for about 6 years.  They are a great resource to help assist you in your investment decisions.  Originally they only reviewed mutual funds, but a few years ago added stocks to their reviews.  Personally I look at services like Morningstar as a way to help speed up my research.  You should always do your own investment research, and not take what anyone says as gospel.

Open a Chase Sapphire Card – Get 10,000 Bonus Points

Chase’s Sapphire Credit Card targets the top-earning 15 percent of American households, and is a cut above the rest.  It has an Ultimate Rewards program of unrestricted travel packages and generous shopping rewards.  It rivals American Express for a spot in the wallets of affluent cardholders.  Chase’s Sapphire Card has a low variable APR on purchases, no annual fee, no limit on the number of points you can earn, and offers ultimate possibilities.

Mint Review: Should I Use Mint.com?

Mint.com

Mint is a FREE online personal finance (web 2.0) service similar to Quicken.  Mint was recently acquired by Inuit for ah… mint.  I decided to look at Mint to see what the buzz is about.  For the past 6 months I’ve taken mint.com for a test spin with my personal finances.  With Mint you have local software to install and is a service you can access with any web browser.

Review of “The Investor’s Manifesto” by William Bernstein

Investor's Manifesto by William Bernstein

First let me say I am a big fan of his previous books “The Intelligent Asset Allocator” and “The Four Pillars of Investing”.  So don’t take anything I say as disliking his work.  On the contrary, I feel all three books are a MUST read primer for a good financial education!  Maybe one day I’ll go re-review the other two books.  William Bernstein, who is a neurosurgeon by trade, took the nebulous field of investing, and puts it into understandable terms.  He has a Money Magazine column and a web site (which unfortunately is updated sporadically).