HTM Ep 2 - First Look at Prosper.com

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Uploaded by on Feb 24, 2008

How to Become a Millionaire: a Look into the future /or/ 5% there.

This episode is dedicated to my Lending Business i started up a few months ago. I'm making right now 15.55% APY. Join me as I explore the risk that is involved in unsecured loans.

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Uploader Comments (nyxsucks)

  • i have 250 dollars, should i start using prosper?

  • i wouldn't.you need to have about 30 loans to be relitivly safe and with 250 you can get only 5 loans opened. so i wouldn't do it there are safer ways to play with that amount of money.

  • what would you recommend?

  • the less money in things like this is always higher risk. the safest thing to do with 250$ ia a CD. low rewards and low risk. if you don't mind lossing this money then its a good idea to play with it and learn how to use it.(but don't expect to cash out from it as you can loss 1/2 of the accunt in a few days.

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  • $10000*((1+.17)^30)=$1.11M

    .17=17% average annual return

    30 = 30 years

    $20000*((1+.14)^30)=$1.09M

    

  • luv it

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