Whether you’re a newbie to the world of investing or have been dabbling in the stock market for some time, you likely find yourself checking your portfolio at least once a day; after all, you want to find out if your Starbucks or Target stock has risen in value or if it’s time to get out of that investment.
While investors have traditionally checked the stock section of a newspaper for this information, many now rely on their smartphones and computers to get updates in real time. Indeed, there are a number of must-have, handy electronic tools that make keeping tabs on your money and portfolio easier than ever. Here are a few prime examples.
An iPhone SE
While all smartphones allow you to make calls, send texts and take selfies, the iPhone SE goes beyond these functions with a user-friendly feature for investors. The smartphone, which comes equipped with the built-in Stocks app, allows you to easily keep track of everything in your portfolio from the palm of your hand.
In addition to keeping apprised on your various investments, the Stocks app also allows you to check the opening and closing numbers on the Dow Jones Industrial Average and S&P 500, as well as how well particular stocks have performed over the past two years.
Thanks to the iPhone SE, you don’t have to keep a folded-up newspaper in your purse or briefcase; instead, you can easily check your investments while standing in line for a latte. Now, how cool is that?
A Financial Calculator
When it comes to figuring out your finances, you can’t go wrong with a financial calculator. Sure, your smartphone’s built-in calculator or the one sitting on your desk can handle simple arithmetic, but a financial calculator is better for computing statistics and analyzing your cash flow.
A great and reasonably affordable option is the HP 12C Financial Calculator that’s sold on Amazon.com. At around $50, plus shipping costs, this slim and sturdy financial calculator will allow you to more easily calculate and track annual percentage rates, net present values and more.
A Fast and Reliable Laptop
In addition to owning a state-of-the-art smartphone, a laptop is also a great tool for investors. While smartphones offer more convenience, a laptop’s larger screen size will allow you to more easily read about your stocks, pull up your accounts, and check the markets. Technically, any laptop that connects to the internet will do, but to make your investing life easier and less stressful, you’ll want to find a laptop that’s lightning fast, reliable and that offers an amazing battery life.
After all, the last thing you want is to be in the middle of buying low, only to have your computer crash or the battery shut down. Additionally, because you might have multiple tabs open at once, you’ll need a laptop that can handle the activity, along with trading software apps.
As StockstoTrade.com notes in its reviews of the best laptops for trading, the MacBook Pro is a fast laptop with a battery life that lasts nine hours. Spring for the model that offers more gigabytes. And, since it’s lightweight, you can take it with you on the road. The Dell XPS and Surface Pro are also ideal laptops for investors.
Good Luck, and May Your Portfolio Steadily Grow
To become a prolific investor, you’ll need a number of key tools in your arsenal. By using your smartphone to check your portfolio, buying a financial calculator to handle the often-tricky mathematics of investing, and buying a laptop that will allow you to buy and sell when the iron is hot, you will be well on your way to watching your investments grow into a nice nest egg.