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Post by ruralres66 on Aug 23, 2020 12:31:38 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.  Likewise here.
On a more positive note; from a different perspective ....
My RYI/payments back early leave me in a favorable position.
If the funds had been in a FSCS protected account, I would have received under 1/4 to a 1/3 of the amount over the duration- since about 2014.
So, in essence, all I have left in RS is just over 1/2 of the interest earned over time.
If I lost all of the remaining sum now, I would still be quids in over conventional FSCS schemes.....
If the PF kicks in even a bit, I am even better off. All loans are in the 1 year so may see some paybacks as well over the coming months only some are 7 months away others sooner....
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Post by saintpeter on Aug 23, 2020 15:59:08 GMT
I've managed to get 48% of my capital out since the end of March which is 40% of everything including capital+interest. Checking in every day is a pita but with the prospect of my RYI far into the future. It's a necessary evil.
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Post by gricehead on Aug 24, 2020 8:42:57 GMT
I've got 44.7% of my capital out so far, but there's a significant chunk in holding, and at my next planned withdrawal I will cross the 50% capital mark. I like a good milestone!
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robski
Member of DD Central
Posts: 772 
Likes: 462
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Post by robski on Aug 24, 2020 9:01:34 GMT
End of Aug I will have approx 35% of my balance as at 31 Dec withdrawn.
A lot will depend on "luck" of loans repaying/going bad (so PF repays) and the age of your portfolio
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Post by Deleted on Aug 24, 2020 10:33:56 GMT
36% withdrawn since start of March for me
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 24, 2020 11:01:54 GMT
Since the middle of March I have only achieved 26.5% by using the same strategy. Much depends on the markets you invest in. For instance, I have never entered the Plus & Max arenas and much of my ISA is weighted to the 1yr. Good luck!
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Aug 24, 2020 11:15:00 GMT
6.9% here
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gmd78
Posts: 57
Likes: 36
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Post by gmd78 on Aug 29, 2020 20:44:00 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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gmd78
Posts: 57
Likes: 36
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Post by gmd78 on Aug 29, 2020 20:50:29 GMT
Interesting: I’m starting from scratch, today I set my Access account to 8% on the more experienced and wise advice of others on here.
Ergo, when you first open your RS screen, presumably every day, what’s the first thing you look for? What's the first button you hit? What’s your next move and thereafter the next?
As an apprentice lender with circa 20,000 in front of me and more than a fair amount out on loan, I’d really appreciate a 1 to 10 step format that I can use and follow in your footsteps.
Once I get my first bit of dosh secured in the holding account and I get the hang of it, I should be ok to continue the procedure without further help.
Many thanks in advance.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Aug 29, 2020 21:55:29 GMT
Interesting: I’m starting from scratch, today I set my Access account to 8% on the more experienced and wise advice of others on here. Ergo, when you first open your RS screen, presumably every day, what’s the first thing you look for? What's the first button you hit? What’s your next move and thereafter the next? As an apprentice lender with circa 20,000 in front of me and more than a fair amount out on loan, I’d really appreciate a 1 to 10 step format that I can use and follow in your footsteps. Once I get my first bit of dosh secured in the holding account and I get the hang of it, I should be ok to continue the procedure without further help. Many thanks in advance. In theory you don't need to do anything, at least not for some time. You have done the essential bit. Your money will come out in dribs and drabs and go into your holding account if under £10 else onto the market at 8%. The reasons for acting frequently, many do it daily, are: Cash drag - assuming that you are moving the funds into a 1% account you need to accumulate £5200 before you are losing £1 a week in lost interest. This is likely to take you several months. Platform Risk - If RS folds you might have a delay in getting your money back Take up risk - in theory money on the market might get lent at 8%. This is very unlikely and you might think is not a bad thing, provided either the loan repays or the PF is still working. Detailed instructions for taking your money off the market are posted here somewhere. It's quite straightforward. How often you do it depends on how you value your time.
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Post by ruralres66 on Aug 30, 2020 8:30:49 GMT
Since the middle of March I have only achieved 26.5% by using the same strategy. Much depends on the markets you invest in. For instance, I have never entered the Plus & Max arenas and much of my ISA is weighted to the 1yr. Good luck!
Like coogaruk, much depends on the markets you invest in.
I too have never entered the Plus & Max arenas ( nor Rolling as it was anything from a few months to 5 years); and much of my Everyday (substantial 6 figures) and my ISA (substantial 5 figures) weighted to the 1yr.
I RYI from I year and 5 year on the 16th March and have 100% RYI or payback from Everyday plus - 25% from my ISA which I left the RYI until much later.
In total I have 93.5% of my capital and interest returned.
The success of my management is totally down to following and reading this Forum so thanks to all who contribute! If I had 'trusted' RS notices and spin....I would be screwed I fear......... 
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Post by Badly Drawn Stickman on Aug 30, 2020 8:42:01 GMT
Interesting: I’m starting from scratch, today I set my Access account to 8% on the more experienced and wise advice of others on here. Ergo, when you first open your RS screen, presumably every day, what’s the first thing you look for? What's the first button you hit? What’s your next move and thereafter the next? As an apprentice lender with circa 20,000 in front of me and more than a fair amount out on loan, I’d really appreciate a 1 to 10 step format that I can use and follow in your footsteps. Once I get my first bit of dosh secured in the holding account and I get the hang of it, I should be ok to continue the procedure without further help. Many thanks in advance. I would not expect you to see any action until next Tuesday, weekends and bank holidays do not normally have any returns. On the plus side you are more likely to see something after the 'break'. Whilst you are twiddling your thumbs waiting might be worth your while doing a bit of looking around on the platform, there is information that will tell you when you should receive payments, Past experience suggests the payment run on Tuesday will run well into the afternoon, so no need to set your alarm clock.
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Post by delboy711 on Aug 30, 2020 9:48:10 GMT
Interesting: I’m starting from scratch, today I set my Access account to 8% on the more experienced and wise advice of others on here. Ergo, when you first open your RS screen, presumably every day, what’s the first thing you look for? What's the first button you hit? What’s your next move and thereafter the next? As an apprentice lender with circa 20,000 in front of me and more than a fair amount out on loan, I’d really appreciate a 1 to 10 step format that I can use and follow in your footsteps. Once I get my first bit of dosh secured in the holding account and I get the hang of it, I should be ok to continue the procedure without further help. Many thanks in advance. When you log in you will see a page headed "Your Portfolio". On there you will see a figure for 'On Market' This is how much is sitting on the market at your chosen rate (8%). If it is zero, then you have either logged in too early, or there is nothing returned to you that day. Click on 'View' to take you to the Welcome page where again you can see the sum on the market. Looking down the page you will see a heading for your 'Access' account where you can see the sum on market yet again. If it is non zero there will be an 'Edit' button next to it. Click on that and you see a listing of the sums on market. Highlight each item in the tick box and select 'Cancel'. This will return your money to the holding account where you can withdraw it to your bank account using the 'Withdraw' button in the left hand column. I usually wait until the holding account has built up to a reasonable level before withdrawing. When reviewing transactions in your account. Do not be alarmed if you see transactions saying money has been lent on the market at rates well below 8%. These are existing loans rolling over from month to month and are not repayments. To see your actual repayment schedule from the 'Access' screen scroll down to 'On loan', click and select 'Your money on loan'. You will see all your loans. Clicking on 'View' next to each loan will tell you all the details about the loan. HTH
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aju
Member of DD Central
Posts: 3,500
Likes: 924
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Post by aju on Aug 30, 2020 10:01:22 GMT
Is it me or have they changed the "queue position" link activator. It seems much easier to now see the queue position tag when hovering ones mouse in the middle of the "your money" it used to be on the little red info item in the "Investment waiting to be released" text. The text does not appear to have changed in the linked section as far as I can tell though (the link I provided does not require one to be logged in though). |
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 30, 2020 10:53:51 GMT
Interesting: I’m starting from scratch, today I set my Access account to 8% on the more experienced and wise advice of others on here. Ergo, when you first open your RS screen, presumably every day, what’s the first thing you look for? What's the first button you hit? What’s your next move and thereafter the next? As an apprentice lender with circa 20,000 in front of me and more than a fair amount out on loan, I’d really appreciate a 1 to 10 step format that I can use and follow in your footsteps. Once I get my first bit of dosh secured in the holding account and I get the hang of it, I should be ok to continue the procedure without further help. Many thanks in advance. I fear I'm not going to be much help to you, so will have to leave that to investors who are more familiar with the markets you invest in. Although I have money in Access (IFISA only) the way it operates even manages to confuse me from time to time!
Each time I log in to my account I look for anything on the market in Access and cancel it. I then take stock of the holding account total and withdraw it once it has reached what I consider to be a worthwhile amount (currently £1k but that will reduce over time as it takes longer to build up).
All my repayments in the 1 & 5yr markets are set to 'reinvest' into the Holding Account, a luxury which I believe is only available to those 'legacy' markets, not Access Plus & Max.
All my EveryDay account money is in the 5yr with repayments set to 'Holding Account' as above but rather than withdraw them immediately I transfer to the IFISA first to add to the build-up of funds there. That may seem daft to some but I feel there is a method (something to do with tax, I expect) to my madness!
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