Comments on: Why My Emergency Fund is Not in Prosper.com Loans http://www.rateladder.com/2007/01/08/why-my-emergency-fund-is-not-in-prospercom-loans/ P2P Lending News, Information, Borrowing and Lending Strategy Fri, 16 Oct 2009 04:59:46 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Kevin http://www.rateladder.com/2007/01/08/why-my-emergency-fund-is-not-in-prospercom-loans/comment-page-1/#comment-145 Kevin Wed, 31 Jan 2007 21:14:00 +0000 http://rateladder.com/2007/01/08/why-my-emergency-fund-is-not-in-prospercom-loans/#comment-145 I understand what you are saying... However, on average almost everybody pays on time. So the risk isn't that you wont have access to money, because you will have access to something. Even if 10% fails to pay you still have 90% of what you were expecting. I understand what you are saying… However, on average almost everybody pays on time.

So the risk isn’t that you wont have access to money, because you will have access to something. Even if 10% fails to pay you still have 90% of what you were expecting.

]]> By: Dan http://www.rateladder.com/2007/01/08/why-my-emergency-fund-is-not-in-prospercom-loans/comment-page-1/#comment-141 Dan Wed, 31 Jan 2007 20:19:56 +0000 http://rateladder.com/2007/01/08/why-my-emergency-fund-is-not-in-prospercom-loans/#comment-141 I don't think you can call prosper.com appropriate as an emergency fund. Sure, you could tap the monthly payments in a pinch, but like you point out, there's a limit to how much you can tap. And even then, you only get that if everybody pays on time. I consider prosper more like stocks and stock funds in that you can't really plan to have to access your money for a while. (Stocks of course for a different reason - they could go down tomorrow and you don't want to be forced to sell low.) I don’t think you can call prosper.com appropriate as an emergency fund. Sure, you could tap the monthly payments in a pinch, but like you point out, there’s a limit to how much you can tap. And even then, you only get that if everybody pays on time.

I consider prosper more like stocks and stock funds in that you can’t really plan to have to access your money for a while. (Stocks of course for a different reason – they could go down tomorrow and you don’t want to be forced to sell low.)

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