A common concern is whether large sums of money are safe with an online institution.
Investors face 2 major r risks: risk to principal and risk to purchasing power. Savers are more concerned about one, and investors are more concerned about the other.
State banking and securities authorities have a lot of say over whether peer-to-peer lenders and P2P investors can operate in their states.
The top 4 responses from all bracket participants were: 1. Live within your means; 2. Start saving early; 3. Rein in debt, and 4. Use credit responsibly.
The National Reverse Mortgage Lenders Association reports that America’s seniors have $5.83 trillion in home equity, which is 16% more than the pre-recession peak.
Nine in 10 working Americans believe they should be investing for retirement, but only three-quarters are taking any action.
The most popular reasons to take out a personal loan are for paying off credit cards and refinancing existing loans.
The lack of a cost-of-living increase for Social Security recipients in 2016 also means that the majority of Medicare beneficiaries will not have an increase in the Medicare Part B premiums this year.
Along with financing current living expenses, taxes, insurance and staying current on loan payments, the household budget needs to allocate funds to investing for future life goals.
Lending Club, a major P2P lender, uses WebBank to originate the loans that Lending Club securitizes. Investors buy the securities which are backed by the loans. By the end of 2015, Lending Club had issued almost $16 billion in loans.