Minimalist Wealth

Unsolicited Opinions


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Investing and Taxes

Summary: Sell assets as infrequently as possible to minimize taxes.

Minimizing taxes is essential to long term returns.

Stocks incur taxes only when they are sold at a gain.

Shares sold within a year of purchase are subject to your ordinary income tax rate.

My Lending Club Experience

On Danny Schmidgall

I first found out about Lending Club last summer (in 2012) after Tynan posted an article on his blog about it. There seems to be a healthy skepticism about using it, so I thought I'd offer my two cents after 9 months of activity. 

If you haven't checked it out, I encourage you to visit the website a bit. The company is a middleman for lenders and borrowers. A typical customer may want to consolidate their debt, or pay some unexpected bills, and ask for a loan from Lending Club. The company itself will do some due diligence to make sure what the borrower is claiming as income, employment history, etc. is true. The loan itself is then listed on the website, and lenders (us) combine their money to fulfill the loan. This is a very simplistic explanation, but it's enough to get you started.

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