Review of best online stock brokers for trading stocks

By MoneyBlueBook

Updated List Of The 10 Best Discount Brokerage Firms Below

So, you are finally sold on the idea of signing up for an investment brokerage account so you can start making money by investing in the stock market. Or, perhaps you are already an experienced trader but at times still wonder what other brokerage options are out there? These days there are a lot of options out there but it can be sort of confusing trying to find the right online broker. There are many choices available, from full service premium brokerages to deep discount online brokers. Relying on authoritative financial and investment sites for guidance and opinion reviews isn't always definitive either since they occasionally have differing opinions. The best way to choose the best and right broker to handle your investments is to do a combination - by sticking with the popular ones that have been around for some time and have been sufficiently subjected to adequate scrutiny by the investing community, as well as go with the brokerages that have consistently appeared at the top of reputable rankings and researched reviews.

Know Thyself To Better Determine Brokerage Fit

Factors to consider when choosing the right online broker include the type of investment vehicle you intend to trade (stocks, bonds, mutual funds, indexes, options), the amount of your investment, the type and amount of research material you want, customer service, website design and layout, and trading reliability. It's important to know what type of investor you intend to be. Do you plan on being an active

By MoneyBlueBook

Are you like chicken little? Are you currently huffing and puffing because you feel like financial ruin is just around the corner and that current market problems suggest you should take quick action? Well, try to relax and see the big picture. Yes the stock market has experienced quite a bit of red lately and the foggy road ahead appears to be quite bumpy, but that doesn't mean it's time to make hasty decisions.

The year is coming to a close and many anxious and disappointed investors are starting to react in predictably panicky ways. While some people want to sell off a portion of their holdings to capture tax losses that can be used to offset their current year's capital gains for tax purposes, others are reacting in more hasty and emotional ways. Those who push the red panic button now and act on this heated emotion might regret their decision down the road. Smart financial decisions were never made by people in the midst of an emotionally driven haze.

The Mortgage Mess and the Credit Crunch Are Causes For Concern But In Time They Will Pass

Yes this is a scary time for short term investors but we must tread with a firm and loyal commitment to the key to successful compound growth - long term investing. While the housing market meltdown was not entirely unforeseen, I will admit that the severity of the credit crisis was unexpected. Starting with Countrywide Financial and later progressing to Etrade, financial institutions that owned and traded

By MoneyBlueBook

If you're like most consumers, you will probably need to apply for jobs or take out loans to buy a car or a house sometime in your life. What do these things have in common? They all may require that you have a decent credit score to reasonably qualify.

Currently, the most uniformly and commonly used credit scoring system is the FICO score, developed by the Fair Isaac Corporation. The competing credit bureaus have come up with their own scoring systems with various names including VantageScore and Plus score. However, they are all imitators at best and not universally used or recognized by lenders and creditors. There's a reason why many refer to these other scores as "FAKO" scores. The FICO score is still the most widely used method. If you want to compare apples with apples, then it's best to keep your historical credit scores consistent and stick with the FICO. That's the only credit score I really care about.

Many employers today use credit scores to initially gauge prospective job applicants. Even rental apartments frequently run credit checks to make sure future tenants have a history of making good on credit payments. Credit lenders use people's FICO scores to determine whether the person gets approved for credit, how quickly they get approved for credit, the extent of the credit limit, and what kind of terms they get. Those with lower credit scores tend to get stuck with terms that demand higher interest payments and stricter down payment requirements. These days, your FICO score is

By MoneyBlueBook

I had dinner with a good friend of mine not too long ago and the subject of jobs, aging parents, and financial planning came up. My friend knew that I had this personal finance blog and decided to share with me some personal information to get my advice. After listening to him talk about his income and how he stashed all of his accumulated money in his checking account, I realized that he had no clue about the basics of financial planning and the need to put his money and investments to work for him.

I ended up explaining in great detail to him about the power of compound interest and why it was so important that he immediately jump start his financial future today and not delay any longer. To give my newbie friend the spark he needed to start his way towards fiscal growth and responsibility, I provided the following basic tips:

1) Pay Off High Interest Credit Card Debt As Soon As Possible - Fortunately for my friend, although he used credit cards regularly, he had no outstanding balance that he was paying high interest or fees on. His FICO credit score was also thankfully a pristine 750. For a great number of people though, credit card debt is a serious problem since credit cards almost always have higher interest rates (10-30% APR) than any other type of debt.

In my opinion, credit card balances must be tackled before anything else, including worrying about retirement concerns. One can't possibly plan for the future if

By MoneyBlueBook

Conventional wisdom suggests that it is always better to buy a home than to rent. After all, when you rent you are given no tax breaks and you are not investing your rent payments into anything that will appreciate over time. I don't disagree with the pro-buying sentiments, but I think during major housing recessions we need to rethink our strategy. Unlike stock market corrections and shifts, the real estate market trends are slow to act and slower yet to cycle through the changes. Like a sloth, the housing market inches slowly downwards and upwards and I think we've only yet begun to see the worst of the housing collapse.

Buying a home is usually a much better option in the long term compared to renting, but I think these are different times. I have every intention to buy a house in the future - just not at the present moment or for the next 2-3 years at least. My short term goal is to invest my funds in the stock market and continue to save. I currently lease a brand new condominium unit I discovered through Craigslist. Ever since college and graduate school I've been renting and I think it's been a smart decision. I did not have the funds during my earlier college years to purchase a home, so I missed the housing boat. My best bet now is to enjoy my rental lifestyle for a few more years, and continue to grow my eventual down payment.

Aside From the Obvious Timing Reasons,

By MoneyBlueBook

The Best Credit Cards For College Students and Graduates To Learn Credit Responsibility

If you are a college or graduate student, it's important to understand that proper credit card management is a trait and skill that should be developed sooner than later in life. If you are the parent of a teenage child who is currently a college student, it's very important to teach him or her the importance of building up a good credit history while he or she is still in school, before entering the real working world where credit card mistakes and shortcomings are more brutal. The FICO credit score is heavily dependent on the length and quality of each person's long term credit history, so it's in the student's best interest to develop good credit usage habits and responsible management skills early on. Avoiding credit altogether out of fear or mistrust of credit cards is a misguided approach in my opinion. How else will a student develop the financial management skills he or she will need to succeed in this technologically and financially driven world?

Knowledge and Education Is Power, So If You Are A Parent, Be Sure To Teach Your Student Or Teen Financial Responsibility Early and Often

Many parents today are afraid of giving their college age teen the huge financial responsibility of using a credit card. But shielding them away from this altogether may hurt them in the future due to their lack of exposure to basic finance skills and their lack of credit history. They may