What is the online money market and what are the benefits???

[Margaret 003]

Hi everybody, one of my cousins was saying about making some good profits in the online business and was doing well in that (but he won’t let me know!!!). I have heard about people making some good cash in that but have other doubts as some demand some deposits and other things. What are your views on the online money biz?

 

[adrian14752]

Your question is very, very general. (That may have been your intention)

Are you talking about a massage/bodywork website for your business? Or selling massage/bodywork products? Or is this non-massage/bodywork related?

In general, I believe that just like many other things in life, if you put in the time, research, energy, etc. you can be successful with an online business. But you have to find the right business for you and know that really is no such thing as 'get rich quick'.

 

[Julie D.]

Online investing?

As a former investment professional, I would recommend staying away from any online trading/investing, especially those who "promise" immediate/high profit. There is a lot companies out there who prey on unexperienced investors. Our friends recently lost their entire life savings, $30,000 to an unscrupulous "firm".

When you invest with a legitimate broker/dealer, they will have procedures in place to protect you as a client (required by law). Each transaction will have to be reviewed by a principal (my old job). They have a compliance department. They can be randomly audited by SEC and NASD. They have insurance. They must disclose all their fees in writing.

Little Internet firms often flying under radar? I am not so sure.

Seriously, don't do it unless you know what you are doing and don't listen to friends or relatives who supposedly made huge bucks. The risk is too high especially if you like a lot of MT's are not exactly rich.

Market is unpredictable; we don't know what is going to happen tomorrow or even a few hours from now. Millions of factors determine the cost of each security. therefore, anyone promising guaranteed returns is lying through their teeth.

If you would like to start investing, I would recommend meeting with an investment rep. As an inexperienced investor you should stick with well known firms (Charles Schwab, Robert W Baird). IMPORTANT: The rep should meet with you FOR FREE and review your investment goals. Stay away from reps who will charge you upfront and when you are meeting with someone, resist sales pressure or guilt trips (That they spent a lot of time meeting with you and now you HAVE to buy from them). There will be fees to invest with a rep (either loads on mutual funds - upfront fees OR a flat fee).

You can also educate yourself by visiting web sites of companies like Vanguard or Fidelity. Both are very reputable companies and have very good information on their web sites as well as hundreds of mutual funds to choose from. And low fees!

Another good resource is morningstar.com - this web site rates mutual funds and stocks/bonds etc.

Good luck and be careful out there!