Finance News

Harnek Kang and Useful Software for Investors

 Financial success depends on a number of factors. Contrary to the popular belief, however, one’s earnings are only a small portion of how financially stable they are. In fact, knowing how to manage money is likely the most important aspect of one’s wealth. For those who receive passive income, understanding this concept is even more important. Not only do they have to research investment opportunities, they must also know how to forecast their returns. Luckily, there is no shortage of technological developments that make it easy to manage funds well. 

Mobile Investing

Since almost every professional relies on mobile devices, apps that enable phone-based investing are dominating the market. These include popular platforms like Stash and Acorns. The way they operate is based on mostly stock investments and mutually traded funds from high-risk corporations. People are just required to open an account and they can purchase shares directly within the app. Once they do so, the middleman-like provider will initiate and complete the actual transaction on the market. Thus, the investor will not have to deal with finding a seller who holds the stock. 


Keeping track of certain expenses related to business activity is necessary in order to be more efficient, save on taxes, and understand gains. The problem, however, is the fact that nearly anything could constitute a business expense. For instance, someone who uses the aforementioned apps and pays a subscription to them has a business expense. In order to keep all such costs in one place, investors should consider software like QuickBooks. 

It is commonly used by product-based sole proprietors who track their sales and costs of goods sold. Nevertheless, the software also features tools like mile tracking, cloud storage, and many accounting functions. According to Harnek Kang, a property developer from Sheffield, the United Kingdom, QuickBooks also aids with productivity and resource management. In fact, with the help of QuickBooks, Harnek Kang has been able to oversee a plethora of projects with ease.

Budgeting and Tracking Software

Earning money through passive activity requires a lot of back-end dealing. For example, investors can sometimes increase their after-tax returns by simply waiting to sell. This usually takes place when someone waits for the capital gain to become long-term and, in turn, bring preferential tax treatments. Since tracking this type of information for every investment can be overwhelming, it is useful to have a budget

The reason why is that budgets provide a list of clearly defined spending that can be used in the future. Consider, for example, an investor that sells their stocks for $20,000. In order to pay tax on this income, they must deduct the basis of the stocks and only use the gain for their calculations. Well, having a budget would make it easy to find the base as the person can look up how much they bought it for in the past. 

Penny Investing

Another benefit of phone investing revolves around the user’s ability to purchase incomplete assets. For instance, bonds and stocks used to be sold as certificates in rounded units. Meaning, there was no way to buy half of one stock or place any fractional order. Nowadays, however, phone investing allows people to manipulate the amount of their investment completely. For instance, buying shares on Stash can be done with nothing more than $5. Although this will not give one much ownership of any major corporation, it will get them started. 

Similarly, saving money through penny investment has been made popular by Acorns. It functions on a principle of bank account integration. The app asks for access to one’s banking institution and then takes away cents that would round up their purchases. Harnek Kang recognizes this as one of the most groundbreaking ways to increase savings. 

Research with Robo-Advisors

Since investing revolves around ratios and long-term trends, using computers is almost always required. For those unfamiliar with the notion of robo-advisors, consider every website that providers automated chat service. In a way, they are employing robo-agents that engage with the customer. Additionally, the number of different apps that provide this service is quite high. So, people looking to rely on high-quality research handled by complicated algorithms can choose from numerous alternatives. 

Additionally, robo-advisors can even help people take their investing careers to the next level. Besides offering an invaluable insight on current growth and expected returns, these tools also provide tangible advice. For example, software that helps one build their portfolio will suggest the best purchasing options. That way, individuals that may not know how to go from a medium to an advanced level of investing can finally make the transition!

To Top

Pin It on Pinterest

Share This