This is sort of a continuance on my previous post series, but this time I’m asking for input! As you know, we’ve been dabbling with different ways to invest for the long-term, things that I can manage. So, I’m asking – what do YOU do? If you are in the situation we are in – we can put a little aside here and there, but it’s not like I have thou$ands to invest. I’ve heard a lot about “hot penny stocks,” but haven’t really done much looking besides a little web window shopping.
So far I have tried forex, but it wasn’t for me. Just too unpredictable. Prosper.com seems to be working well but I’m pretty new to it so I only have a few loans out, and such small amounts to test that they won’t be making a huge amount just yet.
So – thoughts on penny stocks? It seems like it would be a really cool way to get into investing in stocks, but I am wondering if it’s a lot like forex. I just didn’t like how on a bad trade I could lose money. Course then again, Prosper has that risk too.
That’s probably why I am liking the internet marketing (I’ve almost got my tortilla video done!) because at least on a bad day you don’t run the risk of losing a lot of money due to a bad call. Or maybe I’m just paranoid!
I think a lot of people are in this situation, especially in this economy, and even if it’s only $25-$50/month that we can put aside, it just seems stupid to do that when all we can do is stick it in a savings account at .1% interest.
So – visitors – please share any thoughts! Do you do any penny stock investing? Or other ideas?
I'm
a thirty-something wife and mother of two and I firmly believe that people
should be living life on their own terms. My terms involve
lots of domestic things, animals, and teaching my daughters to drive a
tractor. We're not on our property yet, but so far I've made it from
working city mother to country housewife. Follow along my journey with
me! I blog here at Uncle Dutch Farms and I also have another site at 
I personally believe that lending club is better than prosper. Either way, I just started with lending club like… Less than a week ago. I’ve got 250 invested at 25 dollars each, and as I’ve read the strategies of others I feel like I have a good idea as to how to get a 12+ return. I’m so excited! I’m 22 and newly married, so I’ve been looking for good ways to put my money to work! I’m very excited, and even if for some reasons things didn’t go well and I ended up with 2%, it’d still be better than my bank! So that’s what I do. I’m looking at learning to make apps for the iPhone to make additional income.
Peter
Yeah I haven’t used LC at all, but I do plan on it. I think a lot of people like both of them. And yes you are right… it’s better than the bank! I’ve got loans out where they estimate I’ll average out about 10% return (barring nonpayment of course) and that’s for a 3 year loan. My Credit union is currently paying .55% on a three year CD. It’s kind off a no-brainer!
At your age, I think you are getting an awesome start by already hopping on board with this. And I think your idea on making apps for the iPhone is a really good idea! I bet if you hit the right market it would get you some decent residual income to further invest in your future.
I have found prosper to be very good, but I would suggest you do your research before you do invest, you are on the right path by having your money work for you.
les would love for you to read..THE GUIDE FOR PENNY STOCK INVESTING