4 Cutting-Edge Tools For The First Time Investor

Saturday, September 3, 2016, 6:00 AM | Leave Comment

Investing your money is an intimidating prospect, but your money is doing very little for you if you simply place it in a savings account.

It is time to have your money do work for you. Fortunately, it is much easier to jump into investing with the right tools.

4 Cutting-Edge Tools For The First Time Investor

  1. Acorns

    Acorns is a great, easy way to get your feet wet when investing. The app allows you to link credit and debit cards into the app and will invest spare change into a portfolio by rounding up.

    For instance, if you make a purchase that costs $7.23, the app will then deposit 77 cents. This makes the process of investing less shocking since money is invested a little at a time, while still being invested consistently.

  2. Stock Market Simulator

    If you need practice with investing into the stock market, consider getting a virtual stock market simulator.

    These programs create simulated versions of the stock market that allow for you to invest simulated funds. Then, you can see how well your investments would have performed based on the performance of the real stock market.

  3. SigFig

    As you add more investments, it can be difficult to manage them without an excellent app such as SigFig. You are allowed to manage your investments entirely through the app.

    SigFig also comes with tools that are designed to track, manage and optimize existing portfolios.

  4. MagicPlan

    When you plan on investing in real estate, you will be dipping your toe much more deeply into the world of investments.

    It will be a good idea to use one of the many apps that can make your life easier, such as MagicPlan.

    This app allows for you to create custom floor plans, which can be very helpful if you will be renting out your property and would like to include a floor plan in your online posting.

    While real estate investing can be very lucrative, if you plan on diving into this area, it is a good idea to consult with a securities attorney such as Carter West to assist you in your real estate transactions.

The great thing about managing investments through an app is that you can easily handle your investments from anywhere.

If you have a busy lifestyle, but also have a great 4G plan, these tools will allow you to not only take the plunge into investing, but make it highly lucrative.

Author BIO

Meghan Belnap is a freelance writer who enjoys spending time with her family. She also enjoys being in the outdoors and exploring new opportunities whenever they arise. Meghan also enjoys researching new topics that help to expand her horizons. You can often find her buried in a good book or out looking for an adventure. You can connect with her on Facebook and Twitter.

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