Cool Investment Website

Guys, this week, I joined a website that allows you to lend our your money to other people and collect interest. It is pretty cool. It was created by the guys who built Ebay. Let me explain a little of how it works.

If someone needs some cash, they log on a create a profile. The website has to verify all of their number, like how much they make a year, their job, etc. Then they can fill out a loan application. The application is pretty much them pleeding their case as to why you should lend them cash. They chose the rate at which they are willing to take a loan for and then they open the loan for bidding.

What people do is the following: If I am willing to lend them $50, and 99 other people are also willing to lend then $50, then they have their $5000 loan. The website them funds them the cash, and they make payments to the website owners. The website then manages sending the money for the payments out to the 100 people who lent the money out. It is a pretty cool idea if you really think about it.

The website is www.Propser.com. It has won all sorts of awards for inovation and jizz like that. If you area saving for retirement and are interested in diversifying some of your money, you should go check it out. It is pretty cool.