The stock market is back, but the average American isn?t benefiting from this economic rebound.
Earlier this month, the Dow Jones Industrial Average closed at?14,164.53, the highest its ever performed, beating a record set in 2007 ? before the housing crash and economic recession. A booming stock market hasn?t had much measurable impact in the wallets of most Americans, however. According to the U.S. Census Bureau,?median household incomes fell by about 8% between 2007 and their most recent survey in 2011. Home prices are rebounding, according to the?S&P/Case-Shiller Home Price Indices, but nowhere near where they were in 2007.
In 2011, Gallup conducted a poll of American households and found that almost half of those surveyed, 46%, didn?t own stocks. It?s a figure that?s been on the decline every year since 2007.
With investors excited about the market again, and others looking to get in, here?s a roundup of some of the best websites, apps and other tools to manage your investments.
For Practice?
Those looking to get their feet wet in the stock market should perhaps start with a test run. Available online are quite a few investing simulators. Tech site Mashable.com has a list of ??5 Great Games for Learning Stock Market Strategy? that includes games such as?Wall Street Survivor, HowTheMarketWorks and Young Money Stock Market Game. The great thing about these games, aside from being free, is that they have features?that help simulate a real trading environment like commission fees and market closing times.
Staying In the Know
Every investor needs the latest in economic trends and financial news. Luckily, in this day and age, that information is something you can have at your fingertips. For news, download apps by Yahoo! Finance, Bloomberg and?CNBC to your smartphone. You?ll get more than just a stock ticker. These apps offer?customizable?features that will let you pick news, quotes and headlines based on your investments. For a more in-depth look,?TheUpDown.com,?PredictWallStreet.com?and?FelingBullish.com?are online communities where investors can share analysis, tips and strategies.
Monitoring Your Stocks
Finally, keep constant track of your portfolio?s performance with apps by SigFig, Motif Investing,?Wikinvest and Personal Capital. These tools are among CNNMoney?s best apps to invest smarter?and help you manage your own personal economy by linking your brokerage accounts. A few even?allow?you to import other investments, 401(k) and IRA, all into one central dashboard.
Photo Courtesy,??401(K) 2013.
Source: http://www.farnoosh.tv/financial-basics/investing-financial-basics/best-tools-for-stock-investors/
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