Online Investing Hacks

Preface

In the past, many people stayed at the same job and lived in the same town their entire lives. Children often went to the same college as their parents and entered the same line of work. Even naming one’s male offspring was easy: add Junior to the father’s name. Financial decisions were simple as well—companies offered pension plans that managed employees’ retirement funds for them. The local bank was the place for the family checking account, a savings account, and any required loans and mortgages. The bank manager knew customers and recommended the best products for their needs.

Now, it’s more, faster, and more complicated. Every aspect of our lives requires more decisions made in less time. Workers change jobs every few years, either voluntarily or due to layoffs. Families move from one city to another, or from one house to another. Children’s names are now a major outlet for parental creativity, and even deciding how to combine each spouse’s last name can be a significant negotiation.

And our finances seem to be the most demanding. People have to fend for themselves. Company-funded pension plans are as scarce as hens’ teeth. Instead, employees contribute their own money to 401(k) retirement plans and IRA accounts, and have to decide how to invest for retirement. Going to college is practically a requirement for survival, while the costs of college strain the most affluent budgets. The choices for every aspect of personal finance and investing are overwhelming: dozens of ...