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15 Must-Have Apps For Investors

15 Must-Have Apps For Investors

Today, the whole world is going mobile and fast. The role of mobile technology is increasing and has major impact on people’s day-to-day lives. Now, investors trust on their smart phones and tablets more than their laptops. Because of the increasing usage of mobile technology, app developers are working hard to meet the needs of these investors. There are a lot of great investment apps on the market; here are some worth checking out to stay on top.

1. MarketWatch

    Gather important financial news, global market stories, prices in real time and daily analysis of the market, this free app keep you updated with the stock market news, even when you’re on the go.

    Pros:Quick access to new stories with MarketWatch makes it that much easier to remain up to date with all that you need to know – required for any investor.

    Cons:This app requires to swipe up and down to check out the latest market update, which is spontaneous compared to swiping left and right and usual in other apps.

    2. Forbes Intelligent Investing

      If we talk about some trusted names in the financial world, there are few that can compete with Forbes. With video interviews, panel discussions, investment articles, and features relevant to the market, this is one app you can’t neglect.

      Pros:This app gives a good insight about the world of finance from valued professionals. It’s up to date and current news features and enables the user to save favorite videos and features.

      Cons:This app takes a disappointingly long time to open; with screen freezing issues, some sections are empty. The interviews with top experts in the field aren’t lively but just as you become captivated in an interview, the video freezes.

      3. Bloomberg

        When it comes to up-to-the-minute information on stocks, bonds, commodities, and currencies all over the world, few apps do it better than Bloomberg. Besides trackers for this info, which you can customize as you see fit, the app also offers breaking news and headlines from Bloomberg’s global journalism network. The app presents these features in an easy-to-use, highly eye-pleasing package.

        Pros:Bloomberg provides lots of customization options; Stock summary and Graphs that help investors make an informed decision.

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        Cons:Users with wide portfolios probably need more information than what Bloomberg app provides. User can’t hide news sections that are not relevant.

        4. SigFig

          SigFig stands out for going the extra mile to provide such service that could make it your most trusted adviser. SigFig will give all the information about the hidden fees, overcharges, drifting funds, and other problems that you might use to neglect. SigFig also offers suggestions to optimize your gains.

          Pros:This app gives you the best way to look at your stocks and other investments. Shows everything clearly, in the best format, suggests better investments according to their automatic algorithms.

          Cons:Many other investment apps offer complete services for storing and checking investment data and updating your portfolio; SigFig is no exception.

          5. AnalystRT

            If you’re one that uses analyst ratings as part of your research, check out AnalystRT. This app includes analyst ratings for thousands of stocks and allows you to create a watch-list for stocks that you’re considering to buy.

            Pros:With Analyst Rating Tracker, you can track Buy, Sell, Hold stocks ratings given by research analysts from world’s largest banks and research firms in the palm of your hands.

            Cons:There is no website interface for the data; you cannot access the same info from website.

            6. StockTouch

              This app features a unique view of global stocks and ETFs. You can change the way it categories the stocks between percentage gains, market capitalization, volume, and alphabetical.

              Pros: This app has very attractive, responsive graphical interface that provides a quick view of market trends and charts and summary information.

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              Cons:You can’t monitor ETF’s, mutual funds, or stocks not categorized in the top 100 of their sector.

              7.ChartIQ

                Technical traders would love this app. In this app you can view, bar, line, candlestick or wave charts with various indicators. You can even include trend lines, remarks, rays, sections, and zig zags.

                Pros: all the news, posts and opinions from more than 200,000 users of ST can be viewed at the right of the screen.

                Cons: Some functionality just doesn’t respond

                8. E*TRADE

                  This is exactly an all-in-one app, that not only allows you to get real-time price quotations for almost any stock, ETF, mutual fund, or option, but you can also buy and sell them.

                  Pros: voice recognition, barcode scanning, educational videos, research reports and additional chart features are added in this app.

                  Cons: Once orders executed, there is no functionality available to easily close out positions from the menu.

                  9. Motif

                    Motif Investing helps you in making your investment strategies in a safe environment. The app uses themed portfolios to explain the ups and downs of function markets and gives a valuable learning experience.

                    Pros: Motif does offer investors the opportunity to essentially create their own ETFs.

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                    Cons: Motif doesn’t offer the trading tools and research opportunities of some traditional brokerages

                    10. Personal Capital

                      Personal Capital simplifies procedures by giving you a platform to organize all of your investment information in one suitable place. The app’s greatest deal is its simplicity and effectiveness; it will shorten your broad financial status in into a concise summary.

                      Pros: Personal Capital can be used on your computer, smart phone or tablet. This makes it easy to check or track accounts on the go.

                      Cons: There really isn’t much bad about this app. It’s exceptional for a free tool.

                      11. Stock Twits

                        StockTwits is just like Twitter for traders. Along with the Twitter-style feed, there are some traders who also post charts and videos offeringfree technical analysis. If you’re a short-term broker, this is very useful app to watch and top of all, it’s free.

                        Pros: StockTwits is ideally suitable for those who need a social network to keep them updated in to what other investors are thinking and doing.

                        Cons: Twitter feed doesn’t update often enough, the stream doesn’t automatically update.

                        12. CNBC Real-Time

                          The CNBC Real-Time app gives you free access to real-time stock prices – before, during and after market hours, straight from both the New York Stock Exchange and NASDAQ Marketplace.

                          Pros: In this app, additionally you will receive CNBC breaking news alerts, top news stories & analysis, and access to the latest CNBC business video clips, interviews and market updates.

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                          Cons: The ads in this app are problematic and exhausting. The previous version was reasonably good as the ads used to take a very little space. However the current version has the 10 percent of the content space and ads never disappears.

                          13. Daily Stocks

                            The Daily Stocks app can provide you all the technical updates of the market and is aimed to focus on trends in the marketplace built on some technical analytical techniques. This kind of information is mainly the field of fairly serious traders.

                            Pros: Daily Stocks works great in landscape and portrait mode, but landscape mode shows you a little more information and it’s very easy to use.

                            Cons: There is lack of international markets data information; means that non-US investors will find it somewhat inadequate.

                            14. Yahoo Finance

                              Yahoo Finance app is a complete finance place. It delivers breaking news, related market synopses, lending rates, and other financial news. In this app, there are segments for investing, news & estimation, personal finance, and tools for chasing the market and creating an online portfolio.

                              Pros: Yahoo Finance is complete and has information for every investor, regardless of experience or knowledge.

                              Cons: The data loading issues and the overall usage make it not nearly as user friendly.

                              15. Stock Guru

                                Stock Guru is a robust engine that delivers real time study for nearly 7,000 stocks. You can analyze risk, drive, financial power and a exclusive guru rating that sums up all of the data for those who don’t want to dive into the details.

                                Pros: This is the only hedge fund holding tracking app in the market to view hedge funds.

                                Cons: One downside in this app is that it doesn’t have enough hedge funds in their database.

                                Featured photo credit: Simon Cunningham via lendingmemo.com

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                                Tayyab Babar

                                Tayyab is a PR/Marketing consultant. He writes about work, productivity and tech tips at Lifehack.

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                                Last Updated on June 6, 2019

                                The Average Retirement Savings and How to Save Wisely

                                The Average Retirement Savings and How to Save Wisely

                                Are you on track for retirement?

                                If not, don’t worry, I’m not sure either. I save each month and hope for the best.

                                Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

                                But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

                                If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

                                What Does the Average American Have Saved for Retirement?

                                Saving for retirement is tricky.

                                Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

                                Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

                                Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

                                Here are the average savings Americans hold by age bracket:

                                20’s – $16,000

                                During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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                                Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

                                30’s – $45,000

                                At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

                                Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

                                40’s – $63,000

                                This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

                                50’s – $115,000

                                During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

                                60’s – $172,000

                                By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

                                Ways to Save Money on a Tight Budget

                                The sad reality is that most Americans aren’t saving enough for retirement.

                                Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

                                First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

                                Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

                                Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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                                How to Save Money Each Month

                                By this point, you know the average amount of money you should have saved for retirement based on your age.

                                But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

                                Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

                                Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

                                Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

                                Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

                                Top Money Saving Challenge Tips

                                To prepare for your financial future and not be another statistic you need to be different.

                                How?

                                By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

                                Automatically Contribute Towards Retirement

                                If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

                                Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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                                Use the Right Tools to Know Where You Stand

                                Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

                                When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

                                Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

                                Bring in Experts to View Your Blind Spots

                                If you have too little or too much money saved, you should consider hiring financial experts.

                                Why?

                                You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

                                Regardless of the reason, getting help may help improve your financial situation.

                                Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

                                Speed up Your Retirement Contribution

                                After learning how to manage your money well, the next best thing is to earn a higher income.

                                You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

                                By starting a side-business.

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                                This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

                                The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

                                So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

                                Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

                                Reach Financial Freedom with Confidence

                                What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

                                My guess is that you’d feel happy and relieved.

                                Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

                                For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

                                If you do, you’ll save money and pay debt faster.

                                Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

                                Featured photo credit: Huy Phan via unsplash.com

                                Reference

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