Future of Personal Investment Strategies

The growth of Fintech has revolutionised the world of finance stated by Bahaa Abdul Hussein. Apart from its use in banking and insurance, Fintech has also offered huge benefits in the area of personal investment. Fintech apps allows individuals to plan and execute their investment strategies with ease. We look at the future of personal investment strategies in 2024.

Personal investment and Fintech

 Fintech has empowered individuals interested in making personal investments. The process of personal investments was cumbersome in the past. It called for meetings with investment advisors, filling forms, and then making an investment plan. All this called for investment of time and money. Fintech made personal investment easy through their online tools and mobile apps.

With a Fintech app, a user can enter their details. The app would then instantly offer investment ideas. The user can choose as per their needs and an investment plan is generated. Investments can then be done through the app with debits happening automatically if the app is linked to a bank account/card. Personal investments have become easy thanks to Fintech.

Personal investment strategies for 2024

Individuals can use Fintech apps for all their personal investments in 2024. There are two major investment strategies to consider – active and passive investments.

Active investments

Here assets (stocks, mutual funds, etc.) can be bought and sold periodically. It calls for active monitoring of the performance of assets. Research and analysis is needed to make investment strategies. An individual may do their investments on their own or take the help of an investment advisor or a robo advisor.

Passive investments

Most individuals do not have time for research, analysis, and regular monitoring. Passive investment strategy is ideal for them. Here, investments are made in index funds or in ETFs (exchange traded funds). Frequent monitoring is not required since the fund value moves in line with the market.

Here are some personal investment strategies to consider for 2024:

  • Use any of the leading Fintech apps to plan and implement personal investments.
  • Take the help of robo advisors to get personalised investment advice instantly.
  • While making investments, consider investing in companies or areas of new technologies like AI, blockchain, etc.
  • Diverse investments across different classes of assets. Such a strategy helps to mitigate risks. Fintech apps can help you diversify your investments based on your profile and risk taking abilities.
  • Invest for the long-term and stop worrying about short term fluctuations in the market.

The article has been written by Bahaa Abdul Hussein and has been published by the editorial board of www.fintekdiary.com.


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