Yesterday afternoon we took a look at the status of our loans on Prosper.com. To our chagrin, it seems 8 of our 34 loans are late. This means that approximately 23% of our prosper portfolio isn’t current. To some degree a high level of delinquencies was to be expected, especially since we made a conscious decision to invest in high risk loans, but 23% of our loan portfolio being late is not exactly what we had in mind.

So, for future loans via prosper we’ve decided to change our lending standards. We are going to target pretax returns of 18% for lenders who have prosper ratings of C or better. The graph above shows how Prosper assigns a value to roughly approximate a borrower’s credit. It may take more time to find suitable borrowers, but time is something we do have.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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