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A Few Tools to Help You Invest

A Few Tools to Help You Invest

    Online tools make just about everything easier, including investing. No matter how far you’ve gotten in your investing efforts, there’s a tool or two that can help you out. I’ve listed out a few of the tools I’ve come to rely on below — and I hope you’ll add any you use in the comments.

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    Google Finance

    I rely on Google Finance for quite a few aspects of investing. I’m a big believer in checking out any hot stock tip myself, and Google Finance is one of the easiest ways to do just that. It’s got all the standard information about a stock, as well as one of the more up-to-date news streams for each stock. I particularly like the ability to save multiple portfolios — not only do I use Google Finance to track my own portfolio every day, I use it to keep an eye on a couple of other stocks that I either need a reminder not to buy (a lot of those hot stock tips wind up in that category) or a few investments I’m planning to make in the near future.

    TreasuryDirect

    Treasury securities, including bonds, have become incredibly easy to buy online. The U.S. Treasury maintains its own site — TreasuryDirect — where you can set up an account, link it to the bank account of your choice and pick up treasury bills, notes and bonds with a simple click. Even better, the interest you receive from these treasury securities is automatically deposited right back into the same bank account you used for your initial purchase. The site even includes calculators and other resources for investing in treasury securities, generally considered one of the most stable investments available.

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    Sharebuilder

    Sharebuilder allows you to buy stocks in fractional amounts, making it much easier to invest. It’s not exactly a new concept — Direct Purchase Plans and Direct Reinvestment Plans (known as DRIPs) provide the opportunity to buy smaller portions of a company than a single share. However, most DRIPs have certain requirements that can make them harder to use: you often already need to own a certain amount of stock in a company to get started. With Sharebuilder, as long as you have money, you can buy as much — or as little — stock as you want.

    The U.S. Securities and Exchange Commission

    I consider the SEC’s website to be an advanced investment tool. Personally, I don’t use it all that often — but there is an amazing amount of information available if you’re willing to sift through it. All publicly traded companies are required to file a number of different documents with the SEC and almost all of those filings are available online. The system has a bit of a learning curve, but you can get annual reports, information on a company’s securities and far more without a filter of news reporting or public relations spin.

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    Tip’d

    Tip’d is a site that recently left beta: I’ve been keeping an eye on it and, as far as keeping track of information that could affect your investments, it’s fairly useful. It’s a social media site and you can vote stories up or down. There’s a pretty wide variety of stories included on the site, but if you’re trying learn as much as you can about the market before making an investment, Tip’d is a good starting point.

    Inner8

    Another site that adds social elements to investing is Inner8. It’s still in beta, but this site has quite a few useful tools for investors. Site members have the opportunity to recommend specific stocks — as well as recommend against particular stock picks. You can also keep close track of any fellow investor that you feel has a particularly good grasp on investments: you can see how accurate a person’s predictions are and receive updates as soon as they make a new prediction. Inner8 also provides the standard information on specific stocks, like forecasts, trading information and news updates. This site was built by members of the team that established E*TRADE and the two sites work well together. I don’t recommend one online brokerage over another, but E*TRADE has one of the longest histories of such companies and is worth looking at when you consider such options. Ameritrade is another well-known option for trading online.

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    Getting Started With Investments

    Between these tools and this week’s introduction to various types of investments (part 1 and part 2), you’ve got the basic information to start researching investments. While I won’t offer up any investment advice — the right investment for me may be completely wrong for you — I would say that there are plenty of opportunities out there, even though the stock market and other investments have taken a beating lately. In fact, there are a few deals out there because of the current economic crunch. Much of this information could be used to maximize your 401(k)’s or IRA’s potential, if you’ve already set up a plan for retirement savings.

    You’ve got several options as far as next steps go. In general, knowing as much as you can about an investment before you actually risk your money is a good idea. However, if you aren’t interested or able to learn as much as you’d like before investing, you can always consult a professional. There are brokerages everywhere and all of them are happy to help you invest your money.

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    Last Updated on January 2, 2019

    7 Steps For Making a New Year’s Resolution and Keeping It

    7 Steps For Making a New Year’s Resolution and Keeping It

    Are you keen to reinvent yourself this year? Or at least use the new year as a long overdue excuse to get rid of bad habits or pick up new ones?

    Yes, it’s that time of year again. The time of year when we feel as if we have to turn over a new leaf. The time when we misguidedly imagine that the arrival of a new year will magically provide the catalyst, motivation and persistence we need to reinvent ourselves.

    Traditionally, New Year’s Day is styled as the ideal time to kick start a new phase in your life and the time when you must make your all important new year’s resolution. Unfortunately, the beginning of the year is also one of the worst times to make a major change in your habits because it’s often a relatively stressful time, right in the middle of the party and vacation season.

    Don’t set yourself up for failure this year by vowing to make huge changes that will be hard to keep. Instead follow these seven steps for successfully making a new year’s resolution you can stick to for good.

    1. Just pick one thing

    If you want to change your life or your lifestyle don’t try to change the whole thing at once. It won’t work. Instead pick one area of your life to change to begin with.

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    Make it something concrete so you know exactly what change you’re planning to make. If you’re successful with the first change you can go ahead and make another change after a month or so. By making small changes one after the other, you still have the chance to be a whole new you at the end of the year and it’s a much more realistic way of doing it.

    Don’t pick a New Year’s resolution that’s bound to fail either, like running a marathon if you’re 40lbs overweight and get out of breath walking upstairs. If that’s the case resolve to walk every day. When you’ve got that habit down pat you can graduate to running in short bursts, constant running by March or April and a marathon at the end of the year. What’s the one habit you most want to change?

    2. Plan ahead

    To ensure success you need to research the change you’re making and plan ahead so you have the resources available when you need them. Here are a few things you should do to prepare and get all the systems in place ready to make your change.

    Read up on it – Go to the library and get books on the subject. Whether it’s quitting smoking, taking up running or yoga or becoming vegan there are books to help you prepare for it. Or use the Internet. If you do enough research you should even be looking forward to making the change.

    Plan for success – Get everything ready so things will run smoothly. If you’re taking up running make sure you have the trainers, clothes, hat, glasses, ipod loaded with energetic sounds at the ready. Then there can be no excuses.

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    3. Anticipate problems

    There will be problems so make a list of what they’ll be. If you think about it, you’ll be able to anticipate problems at certain times of the day, with specific people or in special situations. Once you’ve identified the times that will probably be hard work out ways to cope with them when they inevitably crop up.

    4. Pick a start date

    You don’t have to make these changes on New Year’s Day. That’s the conventional wisdom, but if you truly want to make changes then pick a day when you know you’ll be well-rested, enthusiastic and surrounded by positive people. I’ll be waiting until my kids go back to school in February.

    Sometimes picking a date doesn’t work. It’s better to wait until your whole mind and body are fully ready to take on the challenge. You’ll know when it is when the time comes.

    5. Go for it

    On the big day go for it 100%. Make a commitment and write it down on a card. You just need one short phrase you can carry in your wallet. Or keep it in your car, by your bed and on your bathroom mirror too for an extra dose of positive reinforcement.

    Your commitment card will say something like:

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    • I enjoy a clean, smoke-free life.
    • I stay calm and in control even under times of stress.
    • I’m committed to learning how to run my own business.
    • I meditate daily.

    6. Accept failure

    If you do fail and sneak a cigarette, miss a walk or shout at the kids one morning don’t hate yourself for it. Make a note of the triggers that caused this set back and vow to learn a lesson from them.

    If you know that alcohol makes you crave cigarettes and oversleep the next day cut back on it. If you know the morning rush before school makes you shout then get up earlier or prepare things the night before to make it easier on you.

    Perseverance is the key to success. Try again, keep trying and you will succeed.

    7. Plan rewards

    Small rewards are great encouragement to keep you going during the hardest first days. After that you can probably reward yourself once a week with a magazine, a long-distance call to a supportive friend, a siesta, a trip to the movies or whatever makes you tick.

    Later you can change the rewards to monthly and then at the end of the year you can pick an anniversary reward. Something that you’ll look forward to. You deserve it and you’ll have earned it.

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    Whatever your plans and goals are for this year, I’d do wish you luck with them but remember, it’s your life and you make your own luck.

    Decide what you want to do this year, plan how to get it and go for it. I’ll definitely be cheering you on.

    Are you planning to make a New Year’s resolution? What is it and is it something you’ve tried to do before or something new?

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