Once upon a time, there were a few well-regarded sources for reliable financial information and advice. But in recent years—thanks to the enormous impact and growth of the Internet—we now have nearly unlimited information at our fingertips. In seconds flat, we can look up anything we want to know about money management. That's the good news, right? Right. But personal finance expert and best-selling author Eric Tyson, MBA, says it's also the bad news.
"The Internet can be an enormous resource for finding financial information, advice, and market predictions," says Tyson, author of Personal Finance in Your 20s & 30s For Dummies® (Wiley, 2017, ISBN: 978-1-119-43141-1, $19.99). "Yet too much information can be overwhelming. It can even be dangerous when you don't know how to separate the wheat from the chaff."
His advice? Make an effort to discern what's worth paying attention to—and paying for—and what you should ignore and perhaps even run away from.
There's a lot of biased and uninformed financial advice on the Internet, but that doesn't mean you can't find plenty of useful information too. Tyson, says you just need to know where to look for it.
Keep reading to learn the three financial tasks Tyson says you can reliably research and manage from the nearest smartphone or tablet—along with a few of his favorite website recommendations.
· Planning for retirement: Good retirement planning online tools can help you plan for retirement by crunching the numbers for you. You can use them to learn about changes in your investment returns, the rate of inflation, or how your savings rate can affect when and in what style you can retire.
Recommended:
o T. Rowe Price (www.troweprice.com)
o Vanguard (www.vanguard.com)
o T. Rowe Price (www.troweprice.com)
o Vanguard (www.vanguard.com)
· Researching and trading investments: You can choose from among many sites for dealing with your investments. The Securities and Exchange Commission (SEC) allows unlimited, free access to its documents at www.sec.gov. Be aware, however, that navigating this site takes patience. If you do your investing homework, trading securities online can save you money and time. The following sites have a new lower-cost standard.
Recommended:
o E*TRADE Financial (www.etrade.com)
o Scottrade (www.scottrade.com)
o T. Rowe Price (www.troweprice.com)
o Vanguard (www.vanguard.com)
o E*TRADE Financial (www.etrade.com)
o Scottrade (www.scottrade.com)
o T. Rowe Price (www.troweprice.com)
o Vanguard (www.vanguard.com)
· Buying life insurance: If loved ones are financially dependent on you, you probably know you need some life insurance. The best way to shop for term life insurance online is through one of the following quotations. Each of these request your birthdate, whether you smoke, how much coverage you'd like, and for how long you'd like to lock in the initial premium. From this information they generate a list of low-cost quotes from highly rated insurance companies.
Recommended:
o AccuQuote (www.accuquote.com)
o ReliaQuote (www.reliaquote.com)
o SelectQuote (www.selectquote.com)
o Term4Sale (www.term4sale.com)
o USAA (www.usaa.com)
o AccuQuote (www.accuquote.com)
o ReliaQuote (www.reliaquote.com)
o SelectQuote (www.selectquote.com)
o Term4Sale (www.term4sale.com)
o USAA (www.usaa.com)
"While it's best to refer to proven professionals off-line, you can use the web in your personal financial research," concludes Tyson. "There's a lot of good wisdom when you rely on proven online sources. Be a bit discerning about where you get your info and you'll be able to make better informed decisions that you can feel good about."
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About the Author:
Eric Tyson, MBA, is an internationally acclaimed and best-selling personal finance author, counselor, and writer. He is the author of five national best-selling financial books including Investing For Dummies, Personal Finance For Dummies, andHome Buying Kit For Dummies. He has appeared on NBC's Today show, ABC, CNBC, FOX News, PBS, and CNN, and has been interviewed on hundreds of radio shows and print publications.
Eric Tyson, MBA, is an internationally acclaimed and best-selling personal finance author, counselor, and writer. He is the author of five national best-selling financial books including Investing For Dummies, Personal Finance For Dummies, andHome Buying Kit For Dummies. He has appeared on NBC's Today show, ABC, CNBC, FOX News, PBS, and CNN, and has been interviewed on hundreds of radio shows and print publications.
About the Book:
Personal Finance in Your 20s & 30s For Dummies® (Wiley, 2017, ISBN: 978-1-119-43141-1, $19.99) is available at bookstores nationwide, from major online booksellers, and direct from the publisher by calling 800-225-5945. In Canada, call 800-567-4797. For more information, please visit the book's page on www.wiley.com.
Personal Finance in Your 20s & 30s For Dummies® (Wiley, 2017, ISBN: 978-1-119-43141-1, $19.99) is available at bookstores nationwide, from major online booksellers, and direct from the publisher by calling 800-225-5945. In Canada, call 800-567-4797. For more information, please visit the book's page on www.wiley.com.
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