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Post by grimboj on Jun 17, 2016 12:17:27 GMT
Hi,
Any tips for a newbie? How much of their capital do other people put in etc? Do you split it accross different P2P?
So far I've put 30% of my capital in P2P and that feels like a good maximum risk level especially when they have provisional funds, the remainder is in a 1.5% savings account.
Tried assetz and it seemed slow and clunky so switched to rate setter and I'm up and running with 5.9% re-investing.
Cheers,
G
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Post by oldnick on Jun 17, 2016 12:51:53 GMT
First tip - don't rush to invest. Take time to become familiar with the p2p scene. There are big differences between the highest and lowest risk platforms, but don't take from that that there are low risk platforms in absolute terms - no government bailouts for these guys. Reading old threads will tell you most of what you need to know, but feel free to ask for clarification once you've done that. More experienced contributors tend to be more kindly if you can show you've done some research before you ask questions.  |
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Post by brokenbiscuits on Jun 18, 2016 10:16:29 GMT
If you have 70% of your wealth in 1.5% savings, why don't you open a few of the current accounts that do have fca protection and give 3% to 5% returns?
If you are not familiar with the accounts available a good starting point would be the money saving expert forums.
Personally I'm about 20% in p2p. 3 platforms where I favour one ahead of the other 2. Diversity is key, p2p, cash, bonds, equities, physical property etc. Dont put all your eggs in one basket.
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Post by solicitorious on Jun 19, 2016 13:02:17 GMT
Around 40% of my wealth, a moderately large six figure sum.
4 'active' platforms, comprising around 285 loans in total. I also have some frozen/in recovery funds in 3 other sub-optimal platforms, comprising together about 9% of my total.
Projected gross annual returns comfortably in excess of £20k.
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Post by bluechip on Jun 19, 2016 17:24:03 GMT
50% in P2P, rest made up of Stocks & Shares (10%), Bonds like the ones you are talking about and better accts referred to above (30%), then 5% in crowdfunding (seedrs) and 5% in accessible cash doing next to nothing but available if anything leaps out.
I was in about 12 platforms, but after 18 months (a lot earlier really) you get to know which ones work well and suit your way of thinking. I am winding down several as they overlap and lend to the same type of people. Basically consolidating my P2P in the best for P2P, P2B and the auction style ones at 12%. Although sometimes it's handy to spread yourself across more because of the peaks and troughs of loans coming to market, I am in Money Thing, Saving Stream and Funding Secure for example. I have cash doing nothing on one P2B platform and it has been that way for several weeks, so I am starting to think twice about sticking with them. I have also dabbled with some less popular ones, some have worked some have not.
I was at about 70-75% P2P, but it made me a bit uncomfortable. Try not to get too excited about the rates on offer, you will get defaults in some cases they will make one repayment only and then you are stuck with the bad loan, you will miss out on good loans because of demand and you will spend time sorting through everything. So it's time management/cost and risk that are the biggest factors to consider.
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