Online Investment Tools

This is a common question I hear from friends and those who want to manage their own investments, or just want to learn more about the financial markets. The question makes sense on many levels. We don’t champion financial literacy in our society, especially investing. Thus, individuals look for investing tools so they can learn to invest and start planning for the future. It’s my belief that investment tools can help individuals become familiar with, and begin to think about, what their investment future will look like.

 

There is one problem, however – there are many investing tools to choose from. Some work well, while others are more complicated to work through and understand. That also doesn’t touch the ones that charge you to use them. With that in mind, I’ve come up with a list of some of my favourite, free investment tools. I’ve used each one of them extensively. While each has its own learning curve, I believe each of the tools is relatively user-friendly.

 

Let me take a step back and discuss why you should use a free investing tool. There are many investment options to choose from, such as stocks, bonds, mutual funds, ETFs and options. The above list only scratches the surface and can overwhelm new investors, which can cause them not to act. Investment tools help mitigate that overwhelming feeling.

 

These tools can help investors learn the basics of each, and what role they may play in their overall investment portfolio. The ability to make an informed decision helps newer investors build confidence and, as a result, drive them to focus on investing for their future.

 

I do also want to point out, beyond the investment tools I mention below, do not overlook tools provided by your company pension provider or your bank. In many cases, both offer access to free investment tools, education and courses. By all means, take advantage of these as they’re there for you to use.