4 Ways to Keep Track of Your Investments

In a world of constant change and fast-paced news, staying on top of your finances can seem like a constant struggle. There are just so many things going on during your day-to-day grind that it’s easy for a bill (or a bunch of bills) to go unpaid, which often has the effect of snowballing into an avalanche. Utilizing these few easy steps can make sure you’re making the most of every dollar.

Follow Important Current Events

There’s a lot of information out there. Figuring out which stories relate to your investments directly can save you a lot of time from having to root through news columns. There’s a lot of tools to use, such as signing up for RSS feeds and newsletters or websites that let you choose what stories are of benefit. If you heavily invest in bonds or a particular currency, you can read about those specific investments.

Podcasts can also be another great way to keep an eye on the financial world while driving or sitting at your desk working. There are podcasts for every subject, so finding and picking the right one can sometimes be a little bit of work in the beginning. However, this will save you time (and money) in the end. Even if you don’t find one that’s exactly what you’re looking for, you’re sure to find a few entertaining ones along the way.

Get to Know Your Financial Advisor Personally

If using a financial advisor, it’s important to get to know that person on a face-to-face level. They are, after all, in charge of your financial well-being. Scheduling regular meetings can help you understand more about what’s happening with your money and can help relieve some of the stress of someone new looking after your investments.

As much as you need to be able to trust your advisor, it’s important they know you as well. Scheduling a face-to-face with them at least once every couple months should give you the necessary information and help instill trust in this mutually beneficial relationship. If you live in the Washington area, for example, meeting with your advisor can be an easy trip when you follow these driving directions to the Washington office address.

If you don’t have the time to sit down and talk face to face, a simple phone call can make a big difference.  Finding out your advisor’s opinion is important, so hearing their thoughts on potential new investment opportunities is always good.

Get to Know Other Investors

Networking with other investors can be a great way to increase your financial knowledge. You can gain new insights and tips on hot investments, while also learning new and exciting things about current investments. You can join clubs, go to events in your town or even start your own Facebook group for people with similar financial goals as yourself.

There are thousands of websites out there with individual investors like yourself just looking to make sound financial decisions. Reaching out to some of these people can’t hurt, and most of them are more than willing to help with any queries you may have.

Keep Up with the Latest Technologies.

Though it can sometimes be expensive, getting the latest tech can prove to be financially fruitful. As phones and tablets update and get faster processors, load times decrease and you can see what’s happening in the financial markets faster.

Some tablets and phones are even letting you run two or three apps at once now, so you are able to track different investments at any one time. That way, if you’re reading a story about a particular company you may have stock in, you can find out more about the CEO and their plan to increase shareholder wealth. Maybe you’re just enjoying some down time and reading a book, you can set push notifications on your phone or tablet to alert you to updates on your investments.

Investing properly can be a daunting task.  It may seem like a lot of information being thrown at you at once, but this is your money and it’s important to know where it’s going.

 

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