HOW TECHNOLOGY CAN BEEF UP YOUR INVESTMENT

If you are a tech savvy, use it to your advantage.

Technology is no longer a luxury but a tool being used by everyone to beef up everything, including investing. Based on the 2015 BlackRock Global Investor Pulse Survey, 87% of respondents use the Internet for any financial activity, while 81% of them for routine banking. Here are the other results:

• 61% – Online shopping

• 56% – Travel / hotel reservations

• 46% – Evaluating retirement savings / Tax preparation

• 45% – Assessing investments

• 42% – Searching investment and savings products

• 29% – Buying / selling investments

The inception of the digital age makes investing much easier. Every transaction can be done with just a few clicks. For all things investing, people rely more on the Internet than any other source of information. And with technology, one can gain more knowledge about investing and be updated about the latest market news by using a desktop, laptop, smartphone or tablet.

Over 40% of people research or study investments online. Google Finance and Yahoo Finance are some of the search engines used by investors to gather details. They also turn to banks, media, and fund managers’ websites for information.

Certain financial firms offer online aggregation software, a tool enabling investors to view assets under one system. Using this program, users can link all their accounts and investments in one place. It allows them to figure out if their investments are heading in the right direction and the level of risk is manageable.

A person can tap a robo-advisor if they are not ready to have their own financial advisor. Gaining traction in the industry, four in 10 Americans find this option interesting, citing the following advantages: simplicity, low-cost, and convenience.

However, using the Internet comes with certain difficulties. Around 69% of respondents, including millennials, prefer seeing a financial advisor in person. They still opt for personal guidance as they seek professional help for managing finances.

Technology, if used correctly, can help us manage our investments and maximize its returns. There are endless ways to apply technology in making decisions about your investments. Bear in mind the following factors when using technology in investing: financial goals, risk appetite, and money management.