There are a wide-range of investment opportunities out there. You can invest in cattle farms in Kansas, tech companies in China, a retail outlet in Germany, and a gold mine in Peru.
Even with so many different investments, every investor is looking for a return on their investment. But how does one track their investment earnings year-after-year?
With a few simple tips, you can go from confused investor to investment professional.
Keep a Ledger.
Creating a ledger book for each investment statement can be a tremendous help in keeping track of earnings over time. Create a section for each investment you have, taking note of any earnings and loss, and the date of the statement. Placing all of the earnings in a single page can make it easier to determine if an investment is paying off. You can often also check your earnings online, so make sure that what it says on paper and online matches.
Investment software has become a popular tool for savvy investors. Depending on the program, you can key in the figures from a statement or simply scan the page. The software will break down all of the entered data, showing rate of return or loss, total earnings, and the percentage being returned. This software can quickly determine which investments are worth their weight in gold. This is a great option who have many different investments to track or people who aren’t good with tracking it themselves.
Hire a Financial Planner.
A professional financial planner may be the best solution for the novice investor. A financial planner can help explain the earnings statement, answer questions about the investments, talk about new opportunities, and even help shape a strategy for the future.
Tracking earnings and investment management in Phoenix or in any other city can get complicated. Financial planners can even prepare customized, easy-to-read reports spotlighting the figures you’re most interested in from your investments.
Organize Your Files.
Do you have a filing system for your earning reports, or do you toss them into a drawer after looking at them?
Creating a filing system to keep the original statements can help keep track of your investments. Start by making a folder for each investment. After you are finished reviewing the statements when the come via the mail, file them away into the appropriate folder. Periodically, look through each folder to compare older statements to newer statements. This can help you figure out if your investments are growing over time. You’ll also need to keep track of your statements for tax purposes.
Just like what you invest in, how you track your investment opportunities is up to you. Choose the method that works best for you and be consistent. No strategy can work if it is only used from time-to-time. Tracking your investments properly is an important step to becoming a smarter investor. Knowing what is earning you money and what isn’t can help you make wise investments in the future.
Yakezie Carnival at Personal Finance Utopia
Fin. Carn. for Young Adults at Lisa Vs. The Loans
Carnival of Retirement at Your PF Pro
Lifestyle Carnival at PF Carny
Carn. of Fin. Camaraderie at Save and Conquer
Carn of MoneyPros at Money Pros