Lazy man over at Lazy Man and Money has been dabbling pretty heavily in Prosper. So far, he’s seen a 23.55% return on his money – that’s fantastic. So why don’t I have a Prosper account set up yet? Well, for starters, it scares the living crap out of me. Lending money to people I don’t seems extraordinarily risky in my eyes. Granted, the returns are potential huge, but I have a strong fear of losing my investment completely.
With any investment, there’s always that same risk, of course. I think I may follow in Lazy Man’s footsteps and take a gamble on Prosper. I’m going to take baby steps, however, and invest very slowly at the beginning. If I see solid returns, then I’ll consider funelling more money that way. Is anyone else using Prosper, and if so, how is it working out for you?