Investing is important and it is what helps most people attain financial security. However, investing can be daunting, especially for beginners and if done carelessly, it can lead to big losses. Investments come with risks and you have to be careful to come up with ways of minimizing them. Fortunately, there are some apps that have been designed to help you invest smarter. Here is a look at the 5 best apps for smarter investing.
1. Motif Investing
This app for smart investing offers portfolios that are customizable and themed for up to thirty stocks. It is free of charge and available on the Website and on iPhone. Motifs allows you to invest in an extremely narrow sector, such as companies attached to the housing rebound or clean tech, using one of the ninety themed portfolios. The site needs a minimum of 250 US dollars and charges 9.95 US dollars commission per portfolio.
You would not want to utilize Motif for your retirement finance, but it is a fun way of investing your mad cash if you take part in the market. According to Andrew Lo, the MIT finance professor, this service might also be a great beginning to investing for novices.
2. SigFig
This smart investing app puts your investment information on one dashboard and records methods of optimizing your portfolio. It is a free app and is available on the Website, Android and iPhone. This site-and-app combo matches with over 90 brokerages to follow your IRA, 401(k) as well as stock market investments.
SigFig also makes it possible for you to see charts that break down your risk level and asset allocation. What makes this smart investing app stand out from the rest is that it checks your portfolio every week for hidden charges, underperforming funds, overcharges and it suggests alternatives.
3. Personal Capital
This app tracks and scrutinizes your investment, credit card and bank accounts. With it, you can easily get an analysis of your investment, credit card and bank accounts whenever you need to. The service allows you to make transfers and payments. It is free of charge and available on Website, Android and iPhone.
This is the best app for budget and investing. By combining tools of money management with a full record of your investment accounts, the Personal Capital app offers a wide financial picture in just one application. This is according to Jim Breune, the editor of NetBanker.com, which addresses online financial tools. Although Personal Capital provides fee-based financial advice, you do not need to buy in for you to use its website as well as mobile app.
4. Your Broker’s App
This app for smarter investing helps you to keep track of your investments in real time. According to Brett DiDonato of the OnlineBrokerRev.com, mobile offerings differ by brokerage (Fidelity’s edition is still the mainly downloaded), but most of them also allow you to check news and quotes.
5. Bloomberg
This app is free and is available on Windows Phone, Android, iPhone and Blackberry. This is a financial info treasure trove. It allows you to follow your investments concurrently or use interactive charts for getting more detailed information about their performance.
About the Author: Jeffery has a passion for investing and technology, he loves using apps and his iPad to keep up to date with his positive geared property portfolio.
