Investments play an essential role in your life. Whether it is subscribing to a mediclaim policy or buying stocks, the investments you make will set you and your family financially for the future.

However, storing these details is as important as placing the right investments. While investors still use traditional methods such as filing printouts and making spreadsheets, an investment tracker app acts as a great substitute for the same. All you have to do is fill in your details, and have them at the tip of your fingers.

But since using the app isn’t a common practice yet, we have listed down some frequently asked questions which will clear a lot of your doubts.

1. How does the app work?

The primary purpose of an investment tracker app is track your investments. But, a good investment tracker app also notifies your family of your investments in-case you meet with an unfortunate incident. Let’s take an example of the Investment Safeguard app to understand it.

Mr X has bought a medical-claim, added its details in our app and also shared it with his wife. Due to an unfortunate event, he meets with an accident and is admitted in a hospital with no access to his phone. In such an emergency situation, his wife can use her login details and access the investment details of her husband. This means along with Mr X, his family members can access his details and use them in such situations.

2. How is it different from using printouts/spreadsheets?

Generally, people tend to forget where they have kept details or records at the time when they need such information the most. Nobody would want their hard-earned money to go down the drain. With an investment tracker app, you can be assured that all the details of your investments will be properly made available in due time to your family members/friends. In addition, you get periodic reminders to revisit your investment records and ensure that details are up-to-date.

3. Is it safe?

Totally! The app will encrypt all your investment data before transferring it to the application servers. So, only you and your appointees will have access to your investment details.

4. Can you discontinue your account in the future?

In case you plan to deactivate or delete your account, contact the support team on the app or through email. The entire process will conclude in 7 days, and all your data will be wiped out of the system.

An investment tracker app is the answer to the question ‘how to keep a record of investment?’. Use it to good effect and make your life much easier.

Author's Bio: 

Investments play an essential role in your life. Whether it is subscribing to a mediclaim policy or buying stocks, the investments you make will set you and your family financially for the future.

However, storing these details is as important as placing the right investments. While investors still use traditional methods such as filing printouts and making spreadsheets, an investment tracker app acts as a great substitute for the same. All you have to do is fill in your details, and have them at the tip of your fingers.