Interestingly, most people prefer to invest in what they understand and things that are tangible such as real estate. However, when it comes to investing in matters that we cannot see or fully understand, such as stocks, money markets, cryptocurrencies, gold, and the likes, most people prefer to take a back seat and watch from the benches.
But did you know that a large percentage of this information is available free of charge online? There are several free online tools you can use for investing and becoming successful. Here are some of the best and most frequently used:
It is critical to be involved in some form of investment in order to prepare for retirement, precisely because a low-interest savings bank account will not increase your savings as much as a well-balanced portfolio of money markets, stocks, or bonds. Investing in non-tangibles is one of the best ways to do so, and Yahoo! Finance comes in handy in that it is an excellent source of historical data on indexes, stocks, and interest rates.
Yahoo Finance Plus provides practical information that will help you take your investment portfolio to higher levels. Make better investment decisions with unique analytics, trade-up with powerful charts and tools, and find new chances with daily investment ideas and independent research.
You would be surprised how much free information you can get from regulatory bodies, especially those that oversee the financial markets. For instance, the Financial Industry Regulatory Authority (FINRA) provides investors with educational tools through its Investor Education Foundation. You will find quizzes, videos, and research on this platform, among other tools, bringing investment tips within your reach.
Social media is not all about fun, games, and memes. Some social media platforms such as Twitter and YouTube offer tutorials at no cost. While people may take the information shared on these platforms lightly, it is important to note that authorities require a licensed financial adviser to follow strict guidelines, and the company’s compliance department must approve their advice.
M1 Finance is the place to go if you want to build and manage diversified ETFs and stock portfolios at no cost. They provide a unique investing software that allows users to create a portfolio then invest in it for free. Let me break it down so that you can fully comprehend the concept. Consider a portfolio of ETFs, such as five ETFs at twenty percent each. Instead of completing five transactions when you buy (each with its own commission), you can simply invest your funds, and M1 Finance will handle the rest – at absolutely no cost! M1 Finance is ideal for long-term investments and building a portfolio for free.
Investing in gold may be as scary yet fulfilling as investing in bitcoin. In both cases, these are volatile markets that can go either direction at any point. These are investment tools that are yet to be entirely accepted by many. In fact, the percentage of those who dare venture into these unknown markets are few and far between, yet when it’s time to harvest the spoils, the number of people expressing their regrets in having not invested is numerous.
Yes, these may be unknown markets, but there are online tools that can make your investments more worthwhile and give you the confidence you deserve to invest confidently. Take, for instance, the gold calculator, which is a useful calculator that can assist you in determining the market value of the gold bars or gold coins that you hold. The Gold IRA Guide offers three separate calculators to assist you in assessing the worth of your gold depending on its melt value, weight, and purity.
Investing is no longer as byzantine as it once was, having once been left to the rich and educated. With these free online tools, it is evident that with the desire to learn and educate oneself, it is possible to turn your situation from rags to riches without the complexities you once thought you required. Familiarizing yourself with investment options is now a walk in the park, provided you have the zeal and ability to take a risk; after all, there is no investment that is without risk.