Re: Taking out a prosper loan to buy stocks
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NEVER borrow money to gamble. It sounds like that is what you are up to. With that said, if you must have you considered margin? It will cost less then 12%. If you are buying stocks that do not qualify for margin then you are taking a serious risk.
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I agree, but it's not like I'm buying penny stocks here. I am buying large-caps, worst case scenario i figure i lose 20%.
Also, I am not completely borrowing, I plan to invest on average $1,000/month into the market over the next few years. Intstead of doing that, i am taking out a loan, and my monthly payments are being used to repay the loan as a way of committing myself to a monthly payment towards my future.
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