How to Get a Personal Loan Approved

get a personal loan approved bad creditIn some cases, a personal loan is desirable.

You may want to start a home business, or you may want to borrow for a vacation, or you might have some other use for the money.

A personal loan — usually unsecured — can provide you with a little extra cash to help you meet your goals.

Actually securing that personal loan can be a bit difficult, though.

Here’s a few ways on how to get your pers0nal loan approved.

And if that doesn’t work, we have offer some other options, too.
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Start Saving For Retirement Today: Best IRA Online Brokers

best ira online brokerAs a financial advisor one of the biggest frustrations about our industry is for the young investor that want to get started investing into an IRA.

Why is it frustrating?

Because most big firms don’t want to help new investors.

Otherwise known as “small investors”.

Yes, you can walk into an Edward Jones office and open an IRA, but you’re going to have to pay an annual custodial fee.

They aren’t the only ones.  All big brokerage firms will charge $40-$75 per year just to have the account open.

In addition, some firms will charge you a small account fee if you don’t generate enough commissions or fees or the year.

Over and above that, you’re either going to have to pay a commission for each mutual fund, stock or ETF trade that you place or you have to pay an advisory fee which will be anywhere from .75% to 1.5% of your account balance.

Cha-ching!

As you can see, yes you can open the account with a big brokerage firm, but they’re going to gouge you in fees making it nearly impossible for any new investor to make any money.

So what’s the alternative?
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7 Alternatives to Investing in the Stock Market

alternatives to stock market investingAs a financial planner I work with a lot of clients and most of our investments are related to the stock market.

We invest in bonds, mutual funds, ETF’s, and the occasionally individual stocks that focus on dividend investing.

Every so often I’ll get some people that want to invest into “stock market alternatives“, meaning that they are a little bit fed up with the ups and downs of the market.

And who can blame them?

Every time the markets seems to want turn around, it jerks back leaving most of us scratching our heads and wondering when the madness is ever going to stop.

Because of schizophrenic behavior of the stock market many people ask me,

“Hey Jeff, what are some other alternatives to the market that we can invest into?”

Today I just want to share seven stock market alternatives that you can invest your money into.


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Prosper Review – Investing with a Peer to Peer Lender

Prosper - Peer to Peer Lender

Investing With Prosper

Are you looking for higher rates of return than you can earn on certificates of deposit, online savings accounts, and bonds?

If you are willing to accept a bit more risk and want to mix up your portfolio to not rely solely on stocks then peer-to-peer lending can be a great option.

Prosper was the first successful company in the peer-to-peer space, and remains a great place for you to invest money in P2P lending.

What Problem Does Prosper Solve?

If you find yourself in a financial bind and in need of cash, you have several options. You can borrow from family or friends, use your credit card, a personal loan from your bank, or as a last resort use payday lending. These were your options up until about 4 or 5 years ago when peer-to-peer lending arrived on the scene.
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Investing With Lending Club – So Easy You’ll Freak

Is Lending Club a Good Investment

This is a follow up post to the interview that I did with Lending Club and their operation. You can read that here. The below is a transcription from the screen cast below.

Hey everybody.  Jeff Rose, goodfinancialcents.com with a special treat today.  I want to do a little screen cast to talk about an investment strategy or an investment option that I have been fairly partial to over the last couple of years.

I want to introduce to you for those of you who haven’t heard of it.  I don’t view this as a supplement to investing in the stock market and individual stocks, mutual funds, etc., but I definitely think that it could be a complement or something to add to your investment pie.  That’s why I want to talk about it today.  So without further ado, what I am actually talking about today is what is called Peer-to-Peer lending or P-to-P lending as it sometimes is abbreviated.

As you’ll see here, jumping the gun one of the top peer-to-peer lending companies is Lending Club.

First I want to go to Wikipedia and just read to you what exactly peer-to-peer lending is.  As Wikipedia states, it says

peer-to-peer lending is a certain breed of financial transaction, which occurs directly between the individuals or peers without the intermediation of a traditional financial institution.  Person-to-person lending is for the most part a for-profit activity that distinguishes it from person-to-person charities, person-to-person philanthropy, and crowd funding, which also creates connections between donors in recipients of donations, but are non-profit movements.

Basically, what peer-to-peer lending is or what I think of it is we have all had the family members or friends who have asked us for money.  Maybe you haven’t; I know I have been in that situation on more than one occasion and it’s not a very fun situation to be in by the way.  Essentially peer-to-peer lending is you have individuals that need to borrow money for whatever reason.
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Beware: Investing With Lending Club Is Too Risky….Or is it?

Alternative investments have been a buzz word in our industry over the past few years.  It has been even more prominent since the 2008 financial crisis as investors were running to the hills away from stocks.

If I told you that there was an alternative to investing to the stock market, would you be interested?

What if I told that this “investment” has been averaging just over 9.64%?   Now would you be interested?

I thought so.

Trust me.  I was, too. :)
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