subject: How You Can Build a Fortune in Retirement by Trading Online [print this page] There is a certain romanticism when trading on the stock market. Wall Street is an exciting place where millions of dollars are traded and made or lost every day. For most of us Wall Steet is only a place we've seen in the movies or on the news but know it exists. If ever you can, go there. You will be amazed. I'ts wild, frantic, and .........(fill in the blank )
The generation known as the Baby Boomers are known to take risks. So when investing, must be careful to do diligence in making a decision that could bring financial ruin. Look at all the Ponzi schemes in past few years. The internet can literally put virtually any kind of transaction in front of you. Thus online trading. In reality, one could with a few clicks make thousands or loose millions in a few clicks of the mouse. Caviot Emptor....'let the buyer beware'.
Well, at least that is the allure of online trading. There are some very good things about the movement that has been afoot in the last few years to put your financial world at your fingertips on the internet. Some of those advantages are
balances are only a few clicks away & your investments are there for you on a daily basis. You can have updates emailed to you. This type of investing can raise your awareness or lower your tolorence when you see wha'ts happening on a daily or hourly basis.
... Online services have lowered trading fee's and made it more convient for you. However, by not meeting with a broker, you may loose contact with their expertise.
... Warning! Your online trading can become not only entertaining but also obsessive. Rather than putting your money into an investment that will meet your long term goals, you may look to do short term more risky investments.
.The sudden interest in online trading has made more people knowledgeable about the stock market and what their money is doing. There is no downside to becoming educated about this important part of your financial planning.
As with anything in life, common sense and balance is crucial not to let yourself be obsessed with investing. Baby Boomers have a lot of time on their hands and often find themselves without enough money at the end of the month. So, it's easy to see online investing as a way to supplement their income. Be careful....You may loose it all.
If there was any mantra, we must have about investing, especially if we are using online tools, it is, Be prudent and be informed. There is no replacement for getting some education and doing some comprehension into the workings of the stock market and into the strategies that are most likely to be a success for you. The stock market is no place for get rich quick schemes because they are more likely to result in get poor quick outcomes.
But for the smart baby boomer who does his or her homework and knows what they are doing and gets good advice from investment analysts that know the market, online investing can become a good addition to your financial planning arsenal and be a lot of fun for you as well.
How will you build your retirement fortune?
How You Can Build a Fortune in Retirement by Trading Online
By: ric dalberri
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