coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 20, 2020 14:44:39 GMT
This is aimed mainly at the less experienced investor, some of whom will have come late to the P2P party with maybe RateSetter as their very first foray into the arena.
So the rest of you please ignore the waffle that follows.
I wasn't going to share this as it sounds like I'm blowing my own trumpet (Well I am but only in the hope it gives a small and maybe useful insight into my own investment strategies and restore some confidence to those who feel down that all is not necessarily lost)
Towards the end of May after around two years (yes, really!) of occasional but regular moaning about the direction RS was heading, I decided the time had finally come to begin reducing my exposure. That soon led me into 'full on wind down' mode. Looking back, I think it was the 50% interest deduction that was the final straw for me (some will blame Covid for that, I don't).
Well today I made my 5th sizeable (only in terms of my portfolio size) withdrawal.
Since the end of May I have now seen 41.7% of my original capital investment returned, 30% of my portfolio total at today's value. All accomplished through borrower repayments with not a single RYI in sight!
I still have a long way to go of course. What I am really trying to put across (and failing miserably, I suspect) is that when it comes to investing your money, *you* are in charge. DYOR, acting and taking decisions accordingly. Take some responsibility for those actions and try not to play the blame game. We all do it - me included - but usually to no avail.
Gawd, sounds like I'm preaching now so I'll shut up but only because I want everyone to gain from their experiences and be happy & successful!
'Lesson' over.
Edit: I forgot to mention the milestone! Today's withdrawal reduced my RS balance to less than my total capital investment. (If you've even read this far you've certainly got staying power. Thanks for staying with it!)
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johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
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Post by johnt on Aug 20, 2020 15:33:50 GMT
You've done better than me. I've been logging in daily, withdrawing every penny I can since 15 March and have only managed to get back just shy of 30% of what I invested.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 20, 2020 15:59:22 GMT
You've done better than me. I've been logging in daily, withdrawing every penny I can since 15 March and have only managed to get back just shy of 30% of what I invested. I have been allowing the repayments to build up to quite a substantial amount prior to each withdrawal.
My IFISA is heavily weighted to the 1yr which no doubt puts a positive slant on it, as I'm sure does never having got involved with Plus or Max since their inception!
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Post by erniec on Aug 20, 2020 17:12:54 GMT
I and Mrs_C are fully out of RS, except for 10% markers in the 1 year.
We now feel fortunate to never have got involved in the Rolling or A/P/M.
We will consider whether to re-invest but only ever in the 1 year should it continue to be offered.
We are allowing Zopa to naturally run down, removing funds weekly.
All released funds are being put into NS&I Income Bonds and Premium Bonds.
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Post by greenstar on Aug 21, 2020 9:47:22 GMT
I've invested in Zopa and RS for many years but started to withdraw all funds from both platforms with the recent troubles.
So far with RS I've retrieved 22% from Access and 21% from Plus using the usual tactics.
From Zopa I've retrieved 88% but with a penalty to withdraw - however luckily my interest earned in earlier years more than covers this, several times over.
Disappointed with RS that the initial investor's tacit understanding that funds could be withdrawn/returned within an expected or reasonable time period has collapsed. And I really do have better things to do than logging on to RS daily for the next few years. All my retrieved money now is in NS where I know I have control and can withdraw it when I want.
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Greenwood2
Member of DD Central
Posts: 4,376
Likes: 2,780
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Post by Greenwood2 on Aug 21, 2020 10:32:01 GMT
I have also been withdrawing from RS since about March, but have only retrieved about 20% probably because I'm in 5 year and Plus, so loans are generally longer.
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Post by greenstar on Aug 21, 2020 11:27:22 GMT
I was in 1-year and because I requested withdrawal of funds early on, I was near the front of the 1-year QIF. I wrongly assumed that my request for 1-year full withdrawal overrode any reinvestment settings but it doesn't. So when some weeks later a big early repayment occurred on my 1-year, the money auto-reinvested in Access - putting me at the back of the Access QIF! A lesson learned the hard way!
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Post by pmc on Aug 21, 2020 11:41:20 GMT
Managed to withdraw all my funds from the 1 year market fairly quickly as the loan was coming to an end.
I had about 7500 in the Max product of which i've only managed to get out about 500quid since March!
I think I'll be waiting a long while yet to get my full capital back. I'm not too fussed as I had planned to invest for five years+ anyway and only pulled the plug and got my RYI in when the pandemic made clear that there'd be lots of defaulting loans on the horizon. As long as I get my capital back within the next few years, not too fussed really. The only bummer is the interest being received is now really poor and if I had access to the capital I'd probably put it in the the stock market.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 21, 2020 12:08:31 GMT
I have to say that I started this thread with a tinge of sadness.
Having invested in RS back in 2012 I was enjoying watching my portfolio continue to grow and apart from a couple of small test withdrawals a couple of years ago I had never previously taken any money out.
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Post by greenstar on Aug 21, 2020 12:44:07 GMT
I have to say that I started this thread with a tinge of sadness.
Having invested in RS back in 2012 I was enjoying watching my portfolio continue to grow and apart from a couple of small test withdrawals a couple of years ago I had never previously taken any money out.
I share your sentiment. A delay in eventual repayment (hopefully!) is something I can live with, but sad that the P2P model which I liked so much has run into the buffers when it seemed to be doing so well.
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rscal
Posts: 985
Likes: 537
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Post by rscal on Aug 21, 2020 18:45:34 GMT
Edit: I forgot to mention the milestone! Today's withdrawal reduced my RS balance to less than my total capital investment. (If you've even read this far you've certainly got staying power. Thanks for staying with it!)
Yes, I noted when I passed the capital returned > capital invested point (started my draw down in mid 2018 when investment had peaked - used RYI heavily in the Rolling/Access market in the early stages then coasted with 1/3/5 year early repayments.) Now have just 30% of accumulated interest as remaining balance and moving up the RYI queue (my willingness to pay their fee now was motivated by the 8 months 50% certain loss of interest announced in May - equivalent to 2%)
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Greenwood2
Member of DD Central
Posts: 4,376
Likes: 2,780
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Post by Greenwood2 on Aug 22, 2020 16:09:32 GMT
I have to say that I started this thread with a tinge of sadness.
Having invested in RS back in 2012 I was enjoying watching my portfolio continue to grow and apart from a couple of small test withdrawals a couple of years ago I had never previously taken any money out.
I withdrew a big chunk when they had problems before and they offered fee free withdrawal (a few years ago?). But had built up again to a reasonable chunk of funds. I've had a bit of a hot and cold relationship with RS, but will be sad to see them go.
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Post by df on Aug 22, 2020 20:09:29 GMT
This is aimed mainly at the less experienced investor, some of whom will have come late to the P2P party with maybe RateSetter as their very first foray into the arena.
So the rest of you please ignore the waffle that follows.
I wasn't going to share this as it sounds like I'm blowing my own trumpet (Well I am but only in the hope it gives a small and maybe useful insight into my own investment strategies and restore some confidence to those who feel down that all is not necessarily lost)
Towards the end of May after around two years (yes, really!) of occasional but regular moaning about the direction RS was heading, I decided the time had finally come to begin reducing my exposure. That soon led me into 'full on wind down' mode. Looking back, I think it was the 50% interest deduction that was the final straw for me (some will blame Covid for that, I don't).
Well today I made my 5th sizeable (only in terms of my portfolio size) withdrawal.
Since the end of May I have now seen 41.7% of my original capital investment returned, 30% of my portfolio total at today's value. All accomplished through borrower repayments with not a single RYI in sight!
I still have a long way to go of course. What I am really trying to put across (and failing miserably, I suspect) is that when it comes to investing your money, *you* are in charge. DYOR, acting and taking decisions accordingly. Take some responsibility for those actions and try not to play the blame game. We all do it - me included - but usually to no avail.
Gawd, sounds like I'm preaching now so I'll shut up but only because I want everyone to gain from their experiences and be happy & successful!
'Lesson' over.
Edit: I forgot to mention the milestone! Today's withdrawal reduced my RS balance to less than my total capital investment. (If you've even read this far you've certainly got staying power. Thanks for staying with it!)
Since 15th March this year my RS holding has reduced by 22%. This is just withdrawals of repayments, I've never entered RYI race.
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Greenwood2
Member of DD Central
Posts: 4,376
Likes: 2,780
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Post by Greenwood2 on Aug 22, 2020 20:34:20 GMT
Talking milestones I just realised that my funds on the platform are now less than my interest earned. At least I can't make a loss.  |
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 23, 2020 10:09:36 GMT
Talking milestones I just realised that my funds on the platform are now less than my interest earned. At least I can't make a loss. I'm almost there with my P2P experience as a whole (13 years) having wound down my Z & FC investments almost 3 years ago. (still C. 100 & C. 1000 left in each, respectively)
I'm still a long way from that point with RS but at least I've kind of turned a corner. It's all downhill from here!
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