Is there any way to divert a small portion of my IRA funds to prosper.com?
I would like to add a little debt to my portfolio for diversification, and prosper.com's returns (8-12% on average) are competitive with stocks/mutual funds.
I know IRAs are pretty flexible with the type of investments you can put in them.
-->Adam
2007-08-20 04:39:25 · 2 answers · asked by great_and_mighty_adam_levine 4 in Business & Finance ➔ Investing
If you are able to make withdrawls from your IRA, then you could take some of the money and put it into Prosper. Make sure you meet all the eligibility criteria before you do this or you could end up making owing penalties.
But I think your questions is more basic. Prosper.com doesn't offer an IRA. You cannot open up an IRA account with them for the purpose of lending money.
2007-08-20 05:06:12 · answer #1 · answered by rao_anand 2 · 0⤊ 0⤋
You will have to check with your IRA custodian, which would be your "bank, a federally insured credit union, a savings and loan association, or an entity approved by the IRS to act as trustee or custodian."
I wouldn't bet on it flying though. You want to invest in debt, buy bonds.
2007-08-20 06:36:32 · answer #2 · answered by Rabbit 7 · 0⤊ 0⤋