Christine Paterson Shirley Lew Haidee Parker Richmond Public Library

Netting a Profit: Investor Education on the Web

GICS or mutual funds? Stocks or bonds? It's the time of year for financial decisions, but novice investors may find the process intimidating. Fortunately, investment know-how is as near as the closest Internet hook-up.

At the non-profit Investor Learning Centre of Canada site (www.investorlearning.ca), beginners can test their investment expertise or take courses. The site also has a handy list of more than 100 frequently asked financial questions. If a question isn't answered there, the Learning Centre staff will research the topic and respond by e-mail free of charge within five business days. E-mail them at toronto@investorlearning.ca.

For people interested in the stock market, the Investment FAQ Home Page (invest-faq.com) cautions beginners to study budgeting and the financial world carefully before taking the plunge. A list of recommended books and other sources is provided. Those who want to try investing can test themselves by investing 100,000 virtual dollars in the risk-free Stock Game at the InvestSmart site (library.thinkquest.org/10326/market_simulation/index.html).

There are dozens of investing newsletters on the web, but not all provide unbiased advice. For quality Canadian content, see the Globe and Mail’s globeinvestor.com web site (www.globeinvestor.com/), offering “stocks, investing and financial news from a Canadian perspective.

Seeking professional advice is something many people plan to do but don't quite know where to look. Help is available from the Canadian Association of Financial Planners. Its web site (www.cafp.org) has questions that investors should ask when looking for a financial planner. The "Find a Planner" search engine (www.cafp.org/search) locates planners by region and area of expertise.

As with any topic, would-be investors must evaluate web investment information carefully. For the basics of Internet safety, see Richmond Public Library's "safe surfing tips" at www.yourlibrary.ca/webinfo/safetyadults.html. The U.S. Securities and Exchange Commission has posted warnings about investment scams at www.sec.gov/consumer/cyberfr.htm.

The links in this article are available on Richmond Public Library’s Web page at www.yourlibrary.ca. For those without Internet at home, free use Internet stations are available at all three branches. For details, call or drop by the Library or visit the web site.