1.14.20 Is college worth it?; Honey browser extension rocks; Clark discusses P2P lending profits
b'In November Clark reported on the anti-college mindset and provided stats on how much more a person makes over time with any level of post-high school education and training. The numbers were starkly in favor of further education. A counterpoint has emerged from a study conducted by the Federal Reserve Bank of St. Louis. The study tracked net worth and found that college for better income wasn\\u2019t a given IF there was a large student loan burden. This further makes the case that having to borrow to go to a certain dream college is NOT worth it. Top tier college snobs snipe at others who go to \\u2018directional college\\u2019 (Ga Southern for example).\\xa0What matters is your education and training without enormous debt upon graduation. The value of a college education remains unassailable. BUT follow Clark\\u2019s rule: Graduate with less debt than you\\u2019ll earn in your first year on the job. Make the first year\\u2019s income in your chosen field the ceiling on what you borrow.\\n\\nAmazon has changed its business model. They\\u2019re more about convenience than price, and starting to get nervous about comparison shoppers realizing they\\u2019re not cheap anymore. Many use browser extension Honey to comparison shop, Clark recommended along with CamelCamelCamel. Amazon is so freaked out they\\u2019re telling people that Honey is not safe to use and should be uninstalled. That is just not true. Use Honey and CamelCamelCamel to know if a purchase really is a deal or not.\\n\\nThere\\u2019s been great interest in peer-to-peer lenders Prospers and Lending Club over the years. Borrowers can submit their loan request and members decide what % they want to finance. Clark wanted to check both out as an investor. 3 years ago Clark put $5K each in Prosper and Lending Club. Instead of picking the individual loans, he used their automated system based on risk level. With Both p2ps, 50% of Clark\\u2019s loans were going to very low-risk borrowers \\u2013 those with great credit scores. The other half went to subprime borrowers presenting varying levels of risk. 3 years later, Clark\\u2019s annualized net return is 4.76 and 4.77%\\xa0- a better return than with savings or CDs but with clear risks. People who don\\u2019t pay their notes have to be written off. Many use statistical analysis to invest in higher risk loans of their choice. Clark plays it bland. For borrowers, this is a potentially cheaper option than elsewhere because they cut out the banker in the middle.\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'