patrick.net

I've been in it for about a year and a half or so.

CN: Don't bother. Take a few hundred bucks and have a nice weekend in Vegas.

I invested about $2500 in about 100 notes of $25 each. The net annualized return (basically the interest I've received MINUS Lending Club's fees and any chargeoffs) is about 5.5% but I've invested in their higher tier notes.

I've had about 3 writeoffs i think.

Also, this counts as income, not capital gains, so the tax rate is higher. Add to the fact that the notes are unsecured and basically you've got an entertainment/gambling activity for the investor.

I sure as hell wouldn't use it as any long-term retirement plan or wealth accumulation plan.