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Too Busy to Invest? Nonsense! Here’s How to Do It in Less Time

29 July 2015 in Investing 101

Pressed for time? Don’t let a busy schedule keep you from investing for your retirement. It doesn’t take long at all if you make the most of technology investors use to save time and boost productivity. Here are a few pointers along those lines.

Use Mobile Apps

Mobile app stores abound with trading tools—so many of them that you could easily waste a lot of time trying to find the ones that work for you. To save you time deciding which to choose, here are a few popular picks.

  • Stock Wars: This app lets you experiment with virtual portfolios and test different stock trading strategies with real-time quote data and automatic refresh. It’s also integrated with Twitter and Facebook.
  • Bloomberg: You don’t need to have a Bloomberg subscription to access news and data on Bloomberg’s mobile application, but the free version has limited features and is deliberately time delayed by 15 minutes or more.
  • Seeking Alpha Portfolio: Get instant alerts and analysis on your stock holdings. Access real-time, succinct news so you don’t have to sift through the clutter. Read through research from industry experts and discuss the latest earnings surprises with fellow investors.
  • FRED Economic Data: Get the economic data you’re looking for faster with the Federal Reserve Bank of St. Louis’ FRED app. It includes data from 79 regional, national and international sources that you can browse by category, source, and keyword. Plus you can create custom graphs.
  • StockTwits: Discover which stocks everyone is talking about. Quickly catch up on sentiment, updates, and analysis from thousands of other traders and investors.
  • Stock Tracker: Access technical indicators, comments, and in-depth stock details in a single view. This app offers free real-time streaming quotes, including prices in after-hours trading. There’s also no limit to the number of stocks you can add to a watch list, the ability to set real-time alerts, and interactive charting.

Multitask With Multiple Monitors

Professional investors typically have three to six monitors on their desk in order to increase productivity.[1] You might find that excessive, but starting with two monitors–or even maintaining separate windows on a larger screen—might be something to consider to help you track investment data from multiple sources.

Access Calendars For Earnings Announcements, IPOs, and Conference Calls

If you like to follow the individual stocks in your motifs, you might find it helpful to tune in to these companies’ earnings announcements. Yahoo Finance and Google Finance are two of many sources that provide this type of information to investors. You can set calendar reminders and notifications a few days or hours before an event to help you keep track and choose to take action with your investments.

Trading doesn’t have to be incredibly cumbersome. Take advantage of technology to help you make the time to become a more proactive investor.

[1] Owens, J.W., Teves, J., Nguyen, B., Smith, A.; and Phelps, M. “Are Two Monitors Better than One,” Usability News, August 23, 2012.

 

  1. Taylor
    1 Aug at 5:53 pm

    I like the Stock Twits and Stock Wars apps. As for monitors I only have one monitor at home because I use a laptop. But since I have two monitors at work I like to keep real time quotes up on one screen while I use the other for projects and email.

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