The world as we know it, and the civilization we have created within it is consistently evolving. These days, consumers, business, and governments rely on technology more than ever before. It has changed the way we do just about everything. Farmers now use advanced hydroponic systems to produce higher quality foods, architects use new technology in order to produce better designs, even investors are using technology, changing the investing landscape as we know it. Today, we’ll talk about how millennials are investing differently, new tools that technology has made available to us, and the drawbacks of using technology when investing.
How Millennials Invest Differently
In the past, investing was a bit of a drag. If you wanted to invest, you had to get in your car and drive to a bank or a financial advisor’s office. However, millennials have changed the game in a big way. These days, millennials have decided to forego driving to an office to make their investments. Instead, they are investing online, using one of the various online brokers available today. This way, there is no driving involved, investments are made in real time, and the only limitations with regard to assets available for investing in are limitations that millennials place on themselves. Essentially, the internet has given millennials a way to change the game in investing, making the process faster, easier, and far less limited.
New Tools Millennials Are Using When Investing
Another thing that the internet has made available for today’s investors is new tools. You see, this technology has opened the door to tools that the average person would have never had just 25 years ago. Some of these tools include…
- Signals In the past, if you wanted ideas on how and where to invest, you would have to speak to a professional. However, these days, there are tons of tools available that give you this information in an instant. These tools are called signaling services, and they provide millennials with clues as to which assets are interesting, when to buy, and of course when to sell.
- Social Tools New technology has also caused a tidal shift away from investing being a singular process to investing being a social process. These days, millennials have access to great social investing tools like Stock Twits, CopyOp, and more! These tools allow millennials to get an idea of what other profitable investors are doing in order to copy the moves or simply spot opportunities.
- Economic Calendars Economic reports were hard for investors to get their hands on in the past. However, these reports are overwhelmingly important to investors. Nonetheless, these days, they are available at your fingertips. More importantly, there are economic calendars that let millennials know when the reports will be released, opening the door to tremendous opportunities!
The Drawbacks Of New Investing Processes
In most cases, the tools and abilities that technology has opened up to investors are overwhelmingly popular. However, there is one draw back in my opinion. As a result of simple access to the market and tools for investors, new comers make blind trades often because they simply don’t understand the market. This is where a financial advisor does come in handy. After all, blind trades lead to losses! In some cases, having all of the control in the world is an incredibly bad thing!
While there is one drawback to the ways millennials are investing these days, for the most part, the new technology that is shaping the investing space is overwhelmingly positive. Ultimately, I’m excited to see what tools, strategies, and investment opportunities come out in the future!
More great articles:
Key things to remember when applying for a loan
Is a membership to National Consumer Panel worth it?
Blue Apron review
Saving on water utilities for pool owners
Which is Cheaper: Keg or Canned Beer?
Feeling Clever? Join our newsletter!
Subscribe to get the latest from "Clever Dude."