Do we see our self in a year or so working for the same company that we put all your mind and soul day in and day out? We have seen companies are finding ways to cut costs and reach the market as fast that makes us think that sooner or later, our current job will become obsolete or redundant.
Do you feel the urge to diversify and consider investment? Choosing the type of investment can be a complicated decision to make. How can we take advantage of modern technology to help us make a wise decision?
Should I Invest or Not
If we still ask this question to ourselves, we will surely regret it if we have not decided to invest now. Saving a portion of our monthly income is not enough. The money kept at home or on a savings account will not yield enough interest to support our retirement plans, dream vacations, or worse if we get unemployed. We must decide to invest.
High-Speed Internet – Fiber To The Home (FTTH) or 4G/LTE Wireless Access
Today everyone enjoys the high-speed internet access at home with FTTH or on the go with wireless broadband 4G / LTE on mobile devices and Wi-Fi Hotspots. We enjoy being connected all the time, almost anywhere we go.
This modern technology has kept us connected in real-time and empowered us to manage our investments as we do our regular daily jobs, either from the comfort of the office environment or while we are on the go to see a client or even, we are on our vacation. Modern technology enables everyone to have access to any form of investment.
Corporate Websites and Online Application
Looking for an investment opportunity has become effortless. With just a few strokes of the keyboard and click on the mouse, we can browse on hundreds of corporate web sites offering different investment plans.
The choices are numerous, from regular local banks, private / government institutions to international organizations that can offer different solutions and portfolio that can suit our financial capability and appetite for risk.
Furthermore, some investment company makes it stress-free to apply for investment by allowing us to fill-in online application forms and provide our preferred payment options (e.g., Direct Debit to Credit Cards, PayPal, etc.).
When we hear the word social media, what comes to mind is Facebook, a platform that attracts millions of users per day. Facebook is a Social Networking Site like Instagram and LinkedIn. These platforms started by connecting friends, families, and acquaintances but slowly evolving to connect brands and have become a platform for advertisement.
There is a lot of investment and business advertisement posted on social media. Although one must be very careful and thorough on investments in social media as there are a lot of crooks and fraudulent investments offering high returns. As the saying goes, anything that looks too good to be true, then it must be a scam.
Social Networking through trusted friends and colleagues can be a good reference to decide on a good investment, especially if the friend has firsthand experience of particular investment plans.
Mobile devices have evolved from a normal voice communication and text messaging device, to become a user’s interface to the rest of the world without the need to use a personal computer.
An individual can perform banking transactions, online bill payments, share photos/videos, accessing the internet, etc. Without a doubt, a mobile device is a powerful tool to manage your investment portfolio either through web access or via Mobile Application.
Mobile application software simplifies access to the internet, which avoids the use of a normal PC that usually requires an environment from the office or home. The software application is specifically designed to run on handheld devices such as smartphones or tablets.
Investing in FOREX or Foreign Currency Exchange using a mobile application such as MetaTrader 4 (https://www.metatrader4.com/en/mobile-trading/android) gives the advantage to the user to monitor and manage the investment almost anywhere and anytime.
Given the volatility of the FOREX market that the price of a currency can change, for example, by a mere tweet from key figures (e.g., the US President Trump), one can quickly react either to cut the losses or profit on the price action.
Data Storage, Historical Data and Simulation Tools
Data storage on the cloud is one of the advantages of modern technologies that provide instant access to historical data. Online simulation tools take advantage of such data to run predictions and create models for a better decision on investment strategy. An investor will be able to see the historical performance of a product and make an intelligent decision.
Modern technology provides an excellent opportunity for a person to make a sensible decision on a particular investment. Although equipped with all the technological tools and data analytics, a person’s appetite for risks defines the amount of return possible, and correspondingly the amount of money can be lost.
High yielding investment requires a proportionate risk that needs to be considered. Technology is a tool to aid an investment decision and must not be used as a guarantee of a profitable investment. If you want to know more about tips and guides about finances, you can visit Live Well Financial to know more.