I am definitely going to check out SoLo! I also love the high interest savings accounts. I have one through Ally and another through American Express. It’s not much but it’s more than if the money were just sitting in a traditional savings account.
I hope you like it :) Ally is a really popular HYSA, especially among online bank accounts. It's a great way to get that return while also making sure your money is insured! (I imagine it's not floated often as a money-growing strategy because most people who tout money-growing strategies are used to working with more than $250,000?)
Oh no! I'm so sorry to hear that. Schemes like this have so much allure, and the people who peddle them are extremely irresponsible in the way they prey on families.
He went on to lose $20 million overnight (2008 crisis) of the portfolio he was managing so it was probably more of an individual issue, but I’ll never look at penny stocks without feeling bitter!
SoLo sounds right up my alley. I live in the UK, how would I find out if I can use it here / what search terms would lead me to local equivalents? Thanks for sharing !
Interesting post, however I'm a little confused. I checked SoLo website but could not find this information. I was under the impression that peer-to-peer lending is only allowed in 43 of the 50 United States.
I’ll have to follow up with SoLo to learn more! This hasn’t come up in my experience with the app or conversations with them, but many peer to peer platforms are regulated by the SEC, and you’re actually dealing with securities. My guess is that SoLo is treated differently because its borrower-first structure is different from the others.
I learn so much from this community, I will definitely be checking out SoLo Funds.
That makes me so happy!
I am definitely going to check out SoLo! I also love the high interest savings accounts. I have one through Ally and another through American Express. It’s not much but it’s more than if the money were just sitting in a traditional savings account.
I hope you like it :) Ally is a really popular HYSA, especially among online bank accounts. It's a great way to get that return while also making sure your money is insured! (I imagine it's not floated often as a money-growing strategy because most people who tout money-growing strategies are used to working with more than $250,000?)
$1,500 in penny stocks is exactly how my father lost my life savings at age 16
Oh no! I'm so sorry to hear that. Schemes like this have so much allure, and the people who peddle them are extremely irresponsible in the way they prey on families.
He went on to lose $20 million overnight (2008 crisis) of the portfolio he was managing so it was probably more of an individual issue, but I’ll never look at penny stocks without feeling bitter!
SoLo sounds right up my alley. I live in the UK, how would I find out if I can use it here / what search terms would lead me to local equivalents? Thanks for sharing !
Interesting post, however I'm a little confused. I checked SoLo website but could not find this information. I was under the impression that peer-to-peer lending is only allowed in 43 of the 50 United States.
I’ll have to follow up with SoLo to learn more! This hasn’t come up in my experience with the app or conversations with them, but many peer to peer platforms are regulated by the SEC, and you’re actually dealing with securities. My guess is that SoLo is treated differently because its borrower-first structure is different from the others.