Tap The
Power
Mutual
Funds Magazine
Reveals
How to Use the Web for Smarter Investing
The Internet
is more than a source of information, it's a tool that can help
investors become wiser and richer, according to the April issue
of Mutual Funds magazine..
In the special "Web Investing
Report" the best sites for stock investors are highlighted,
as well as the super sites for fund investors and the top financial
planning sites. The report also includes a hardware and personal
finance software guide.
Great Web Sites for Stock Investors
Among the handful of notable sites for stock investors is fidelity.com. Price per trade varies, but account holders have access to research reports on industries and companies, including daily morning updates. Fidelity's "Powerstreet" trading interface is a key component that allows users to personalize their account screens. And Fidelity's mutual fund supermarket, FundsNetwork, offers nearly 1,000 no-load funds from a variety of families. Other sides worth visiting include American Express Direct (americanexpress.com/direct), Merrill Lynch Direct (www.mldirect.ml.com), buyandhold.com, MainStreetIPO.com and Open IPO.com.
Great Web Sites for Fund Investors
Morningstar.com
leads the pack with its vast database, analytical skills and
tools for screening, portfolio analysis and planning. "Quicktakes"
offers concise profiles of each of the 10,000 funds in the Morningstar
database, including what investors need for a first look at a
fund investment style, size, asset allocation, top holding and
three-year performance compared with peer group and benchmarks.
Brill.com dishes
out advice ranging from fund selection to tax planning, and how
to avoid being scammed by a financial advisor. Brill also offers
timely, probing interviews with fund managers.
Great Financial Planning Web Sites
When it comes to putting together a plan based on an entire financial picture or recommending specific strategies to reach a financial goal, directadvice.com is one of the best. While the initial interview is lengthier and more demanding than others, plenty of help is provided along the way, including glossaries and pop-up budget calculators. Quicken.com and Vanguard.com are among the other financial planning sites worth visiting.
How Much Computer Do You Need?
Investors should plan to spend at least $800 for a good system for trading, tracking investments and web surfing. One of the best deals currently available is the Quantex M500c for about $950. For those willing to spend a bit more, the Dell XPS T600 is a good choice, ranging from around $1,300 to $1,900.
Sizing Up Personal Finance Software
Quicken and
Microsoft's Money 2000 are two of the best personal finance software
packages. One of the most daunting tasks in getting started
will be entering all of a person's financial data. The difficulties
are eased by banks and credit card companies that allow customers
to sign up Online and immediately begin to download their
data. Some Online brokers also allow investors to download
transactions from their Web sites. Both programs let consumers
pay bills electronically from within the software.
Editor's Note: Mutual Funds
magazine is available on newsstands nationwide. Visit the Web
site at www.mfmag.com.
