Money: Net assets

By MARK FRYER

A bundle of internet sites are willing to host you in the search for financial services. I know - I visited them all for you.


All right, so the internet hasn't quite revolutionised everyday life as its disciples forecast.

Online stores haven't replaced shops, most of us are happy to blob out in front of the television rather than the computer, and we still read the news on paper.

But one thing the internet has done is open up new ways of managing your money.

Banking on the net is already commonplace, as is online share trading.

But it goes further than that - you can now compare home loans, apply for a credit card, buy managed investments or plan your retirement on the net.

Weekend Money went browsing and came back with this list of a few of the things you and your money can do on the net.

PLAN YOUR FUTURE

At the Office of the Retirement Commissioner they're keen to get you thinking about life after 65 - or whenever you plan to stop work.

The site's main attraction is a calculator you can use to work out how much income you want in retirement, how big a lump sum you'll need to amass, and how much you'll have to set aside regularly to achieve that goal. There's also some general information on savings issues.

For more on retirement, click over to Gareth Morgan Investments and one of the best retirement calculators around, plus an excellent collection of articles covering the fundamentals of investment.

Remember one question whenever you start playing around with retirement calculators - what assumptions are being made?

A calculator that assumes your savings will earn 5 per cent will give a very different result from one that assumes a 2.5 per cent return.

For more on the principles of investment and retirement planning, try broker Craig and Co and click on "Investor Education."

"You can be your own financial planner," promises Planit, which sells financial planning software to help you make decisions about things like investments and insurance.

If that doesn't appeal, Planit also sells a variety of savings and insurance plans.

FIND A TERM DEPOSIT

For a quick comparison of what's on offer, try www.datex.co.nz, (click on "Free Services" then "Deposit Rates") or www.interest.co.nz (then choose one of the options under "Investing").

GET A MORTGAGE

What we're looking for here are places that allow you to quickly compare what lenders are offering.

For a straightforward list of interest rates and conditions, try the Consumers' Institute and click on "BankCheck" then "Latest interest rates." This site also offers a primer on mortgages, plus tips on how to save on your home loan.

Other places to compare rates are:
www.goodreturns.co.nz (click on "Mortgage Rates"), www.interest.co.nz" (click on "Mortgages"), www.intelmortgages.com(click on "Interest Rates") and www.datex.co.nz (click on "Free Services" then "Mortgages").

For a higher-tech approach, try E-Loan, where you are offered a menu of mortgage choices - floating or fixed, standard mortgage or revolving credit, and so on - then see a selection of loans to fit your criteria. If you like the look of any of them, you can apply online.

E-Loan and the Consumers' Institute site also have mortgage calculators.

WORK OUT YOUR RISK PROFILE

Are you a cautious soul, terrified that your investments will bomb, or a dedicated risk addict? You probably have a rough idea, but for a more scientific verdict, try answering the questions at www.financialpassages.com.au" (click on "Your Risk Profile"), or the simpler version at www.amp.co.nz (click on "Savings and Investments" then choose "My Risk Profile").

BUY MANAGED FUNDS

Investing in managed funds such as unit trusts often means paying an upfront fee.

If you're confident about choosing funds for yourself and want to avoid the fee, or at least have it heavily reduced, try Money Online then click on "Personal Financial Services") or Reuhman & Co then choose "Invest Free of Charge").

Both allow you to choose from a list of funds and can send an investment statement to you so that you can invest directly with the fund manager in question.

Once you've invested, you can keep track of your fund's performance at the Moneyonline site (click on "Fundwatch"), www.ipac.co.nz (click on "weekly fund prices") or www.quicken.co.nz (click on "Investments" then "Managed Funds").

If overseas managed funds are your thing, try www.trustnet.co.uk for information on British listed trusts and other European investments, or www.morningstar.com for US coverage.

CHOOSE A CREDIT CARD

As well as helping you choose a mortgage, eloanz also allows you to compare credit cards. Answer a series of questions and the site comes up with a list of cards that meet your criteria. You can then apply for a card online.

The Consumers' Institute site also has a list of credit card interest rates (click on "BankCheck" then "Interest Rates and Fees"), as does www.interest.co.nz

BUY LIFE INSURANCE

At Money Online you can click on "LifeQuote" to get quotes for term life insurance. Fill in a few details, plus the amount of cover you're seeking, and you'll be e-mailed a quote detailing how much the cover will cost. If you want to go ahead, you can apply by e-mail.

PLAY THE SHAREMARKET

The net has put a major dent in sharebroking's olde worlde image, with many firms now offering online trading.

Too many to mention here - for a list of brokers and their web addresses, go to the New Zealand Stock Exchange and click on "Member Firms."

Most brokers' sites require you to sign up and log in to receive anything beyond a basic service, but a special mention to Access Brokerage, ASB Securities, CS First Boston and Direct Broking, all of which provide services such as share prices (delayed 15 or 20 minutes) and graphs without asking you to sign in, plus a higher level of service for registered users.

Others to try include www.stockwatch.co.nz (free real-time prices if you log in, plus online trading and news), www.quicken.co.nz (free real-time prices, among other services), www.stocknewsmonster.com (delayed share price for free, live if you register).

You can also share market news and gossip at www.sharechat.co.nz, which bills itself as "the first internet discussion group in New Zealand for market investors."

Further afield, try the Australian Stock Exchange, the Nasdaq, New York or London.

* To contact Personal Finance Editor Mark Fryer write to: Weekend Business, PO Box 32, Auckland. Ph (09) 373-6400 ext 8833. Fax: (09) 373-6423. E-mail: mark_fryer@herald.co.nz