The 12 Days of Christmas: Day Eight – 8 Cool Financial Websites

I was asked recently what websites other than blogs that I recommend, in particular, financial websites and if I have any suggestions for some really neat ones: Here’s 8 that made my cut:

1. Minyanville.com
Minyanville says that it provides “Financial Infotainment,” and it IS a very informative and entertaining financial website. The authors target their articles toward three niches of people:

  • Traders in the financial industry
  • Individual investors
  • Families with kids

I find that I learn something every time I read one of their articles. Their editorial and opinion pieces are thought provoking and for an idea on how entertaining the articles can be, try reading their response to Tim Ferris’ book, The 4 Hour Work Week, called the 400 Hour Work Week. Good stuff and pretty funny, too!

2. Choose to Save.org
Choose to Save.org is a “national public education and outreach program is dedicated to raising awareness about the need to plan and save for long-term personal financial security.” On this financial website, I like their Ballpark Estimator where you’re able to figure how much you need to save in order to retire. It has 16 different questions like:

  • What percentage of your current income you would like to receive during retirement?
  • How much do you anticipate your wages to grow?
  • What inflation rate do you want to input?

It’s a little bit of a shock to type in 43 years of age (!) but it IS better to know the truth than to flounder around in fantasy, right?

3. Monte Carlo Calculator
A what? A Monte Carlo calculator lets you figure volatility into your financial and retirement plans.

You’ll get a slightly different outcome each time you run it. That’s what makes this a Monte Carlo calculator: it’s doing the equivalent of running Runs 10,000 simulation iterations covering both the accumulation and distribution phases of your retirement plan.

4. Bankrate.com
Anyone who’s done any searching on the internet for financial websites knows about Bankrate.com. This is one of the premier financial websites for current information on rates for mortgages, credit cards, your savings account, or any other financially related information.

5. Dinkytown.net
Dinkytown has tons of free financial calculators. Want to estimate your tax burden (growing larger, I know)? It’s on there. Want to see what a bi-weekly mortgage payment will do for your individual situation? It’s on there. Should you rent or buy? Check Dinkytown. What about retirement contribution effects on your paycheck? Yep, it’s there!

6. Investopedia
This is a site designed to educate. Here you can learn what those financial buzzwords mean on CNBC, download the annual reports of businesses you might be interested in, use a stock trading simulator, take preparatory exams for different financial designations, or take a tutorial to learn more about anything financially related. If Investopedia is too cumbersome, check out The ABC’s of Investing. Here you can learn investing basics in only two blog posts per week!

$7 Online Trading. Free trading tools. Real-time research. Open a no-fee Roth IRA at Scottrade!

7. MarketWatch
I like to read the Personal Finance section of MarketWatch. Here, I find tons of useful financial information on a broad range of topics including credit cards, banking, real estate, and various consumer issues.

8. Daily Wealth
When it comes to finances, maybe you’re a “contrarian” (someone who zigs when everyone else zags). There is some great money to be made with a contrarian philosophy and Daily Wealth is one of the leaders. One of the recent articles at Daily Wealth claims to be able to predict when a crash is coming in a certain investment sector 100 percent of the time. Yes, 100 percent of the time. Here’s a hint: remember when Warren Buffet said that you should “sell when others are greedy and buy when others are fearful?”

This is by no means an exhaustive list of cool financial websites, but it is a list of some of my personal favorites. Hope you check them out and let me know which ones you like!

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