What If You Don’t Want Help?
Course Section
If you have decided professional help is not right for you, a quick walk through the personal finance section of your local bookstore could convince you that there are plenty of sources you can consult on a more impersonal level.
Crack Open a Book
In fact, books are a good place to start building your knowledge in personal
finance. Rather than purchase a handful of top-selling books, you are often
better off to visit a bookstore and thumb through various personal finance
books to determine which books address your particular needs and which
authors' style appeals to you.
Read the Fine Print
Magazines and newspapers are also great sources of information. While you may
choose to subscribe to one or two publications, check with the online versions
to see what you can get for free. You can also choose to subscribe to a variety
of newsletters. Some newsletters track the performance of mutual fund families
or suggest model portfolios while others offer broad-base coverage of personal
finance issues.
Use Online Tools
If you prefer up-to-the-minute news and interactive tools and calculators,
financial web sites may be your best source of financial planning information.
Many offer fairly sophisticated calculators so you can chart your progress.
AARP offers a comprehensive Retirement Calculator. Also, a number of
web sites can alert you to financial scams.
Check at the Office
To help their employees make the most out of their retirement benefits, many
companies have been adding online financial advice to their 401(k) plans. In
addition to helping you with allocating your 401(k) assets, these programs can
help you plan for a variety of financial goals. If your company is one of them,
this can be a great resource.
Take a Hand from Fund Companies
The major mutual fund companies offer a host of online financial planning
tutorials and tools. Whether you are saving for college or retirement or have a
question on taxes or charitable giving, these web sites can provide the
answers. What's more, if self-help isn't enough, many firms offer
limited assistance at no charge. Some may provide professional consultations or
management for portfolios over a particular amount for a fee.
Go Back to School
Often local community colleges or adult education programs offer valuable
personal finance courses. In addition to introductions to financial planning
and investing, you might find a course targeted to your specific interest, such
as how to select a 529 plan, get out of debt, or save for retirement. While
these college courses generally present information in an unbiased manner, the
same cannot be said for many investment seminars that are often offered at
local hotels or public libraries. While you can glean some basic information
from these presentations, be forewarned that many are simply high-pressure
sales pitches.
Tips for Working Alone
While the resources listed here will help you to stay current with financial
matters, it's important to realize that successfully navigating the
financial world demands more than evaluating information and making decisions.
Your record keeping and ongoing review process are equally important. In other
words, although you may breathe a sigh of relief once you identify a goal and
decide how to move forward with your money, your work is far from over.
There are several good sites to learn about financial planning and investing. Among the best sites are:
Mymoney.gov
Dol.gov
Chicagofed.org
Choosetosave.org
Nefe.org
Aaii.org
Nasd.org
Americasaves.org
Finance.yahoo.com
Moneycentral.msn.com
Investopedia.com
Smartmoney.com
Money.cnn.com
Fool.com
Bloomberg.com
Morningstar.com
kiplinger.com
Bankrate.com
Cbsmarketwatch.com
