Investments are of different types. If you are looking to grow your wealth, you make long-term investments in the form of buying stocks, certificates of deposits or bonds. The returns on these investments increase your revenue and improve your financial situation over time. Or, it could be investing in a mediclaim. It will help you reimburse your medical bills during an emergency.

While these investments are highly beneficial, constantly tracking them can be arduous. To help you move on from traditional methods like filing documents and maintaining spreadsheets, we suggest you download an investment tracker app. Following are the advantages of using it.

1. Stores all types of investment details

An investment app understands that you have details from multiple investments to store. Therefore, the app lets you save 18 investments, making sure you never fall short of space.

As far as uploading these details go, it is hassle-free. You can upload them in two ways - fill the requisite rows or upload the image/PDF file of your investments. Once you upload, all the data will be at your fingertips. Therefore, you can quickly produce these documents whenever necessary.

The app also allows visibility to individual family members. We will elaborate on this in our next point.

2. Manage your family

While tracking investments is important, it is also essential for your family members to know about these investments. Let us take the example of a mediclaim. In case you meet with a mishap, your family members need to have your mediclaim details for reimbursement or cashless payment of your medical bills. But, you also prefer to share these details with a very few given the sensitivity of the information.

An investment app understands your concerns. Therefore, you can add as many members you can but give preference to a selected few. After verifying their contact details, you can customize the type of notifications they can receive. Thus, you can keep your family in the know about the details you are comfortable sharing.

3. Provides timely reminders

After adding your investment details and family preferences, you will receive reminders from the app to make sure everything is fine on your end. You can also configure the type of reminders and the frequency at which you want to receive.

4. Secured platform

With modern security features encrypting investment apps, a third party can't access it. Therefore, it eliminates the risk of data hacking or data leak. Thus, your investment details in the app are safe and sound.

We hope that these advantages convinces you how an investment app could be beneficial to you. By using it, you can bin your worry of how to keep a record of investments to the app and just focus on smart investments for great financial gains.

Author's Bio: 

Investments are of different types. If you are looking to grow your wealth, you make long-term investments in the form of buying stocks, certificates of deposits or bonds. The returns on these investments increase your revenue and improve your financial situation over time. Or, it could be investing in a mediclaim. It will help you reimburse your medical bills during an emergency.