In the world of dividend investing, the landscape has drastically evolved, thanks to the digital era. In the days before the internet, investors lacked the wealth of tools and resources available today forcing them to write their dividend income on napkins.
Then came Excel spreadsheets which caused many retail investors to drop a few brain cells due to the repeating errors and time used on maintaining them.
Now, it’s time to put the Excel in to the closet and change the way you view your investments.
However, the question remains: How to choose a dividend tracker to use from the sea of different kinds of tools?
When developing Stockle, we had a vision to build a dividend tracker that is safe, easily manageable, understandable and actually fun to use.
We built the platform using few key considerations. Now we are going to present these considerations to make your decision easier.
1. Trust is Paramount for Your Dividend Tracker
Before diving into the world of dividend tracking, it’s crucial to verify the trustworthiness of your chosen tool.
When it comes to your investment data, you should control how it is processed. Make sure the platform you use plays by the same rules.
Open Banking and available official APIs for establishing a secure, direct connection to your broker are still in their infancy. Many platforms use unofficial libraries and APIs to connect to brokers. From the user’s perspective, it is crucial to verify how the connection to your broker is established. Too many platforms use unofficial libraries without their users’ acknowledgment. Alternatively, you can manually input your investments to ensure the reliable use of the platform.
While exceptional dividend trackers exist, the market also has deceptive and unreliable options. Relying on inaccurate, misleading information can derail your dividend-focused investment journey. Keep those divvies safe!
2. Staying Updated: A Vital Aspect of Dividend Tracking
Your chosen dividend tracker should not only offer features that they’ve had in recent years but should also prioritise ongoing improvement of its platform.
Dependence on a tool that has had it’s last update in the 90s should be avoided. Opting for a platform that receives regular updates ensures prompt bug fixes and the introduction of valuable features, especially when using a dividend portfolio tracker. You want assurance that the service won’t abruptly become inaccessible just as you’ve integrated it into your investment journey.
3. Time Optimisation with a Dividend Tracker
Efficiently managing your time is of utmost importance, especially if you’re accustomed to repetitive and labor-intensive tasks within your investment routine. Seek out a dividend tracker that streamlines your workflow, allowing you to allocate your time more strategically. Remember, time is a finite resource, and dedicating it to meaningful activities, such as identifying lucrative dividend opportunities, should always take precedence over wrestling with spreadsheet errors.
4. Learning and Growth: A Dividend Tracker’s Value
Consider whether your chosen dividend tracker facilitates learning and skill development. If it does, you’re poised for long-term benefits — fewer mistakes, more informed investment decisions, and ultimately, increased profits.
5. Motivation Matters in Dividend Tracking
The world of dividend investing presents both highs and lows. Hence, discovering a dividend tracker that motivates you to become a better investor is invaluable. Such a tool helps you stay committed and engaged, even when faced with challenging market conditions.
6. Alignment with Your Dividend Goals
Finally, assess whether your chosen dividend tracker aligns with your unique investment objectives. Each investor has their unique preferences and investing style so make sure your tracker supports your strategies! If it does, it holds the potential to significantly benefit you. Dividend trackers that help you achieve your goals are instrumental in making your dividend investment journey more profitable.
Stockle — The Best Dividend Tracker On the Market
If you still haven’t found the one dividend tracker that will make you drop the Excel, look no further.
Stockle is here.
- Track your dividends dividend yield and yield on cost:
2. Track dividend yield and income for your positions:
3. Track your total dividends received:
4. Track your upcoming and paid dividends
5. Track your dividend income by year
And a lot more to come! Stay tuned!
Wrap up
When choosing a dividend tracker to be your sidekick, make sure it’s trustworthy, saves your time, and provides you with information that enhances your investing journey. A continuously updated and improved platform is often a solid choice to avoid getting stuck with a platform that ceases its functions after a while.
At Stockle we value our users’ privacy. We focus on providing understandable analytical data for users’ investments while maintaining a detailed focus on each investor’s unique investing style.
So, keep the dividend ball rolling and make well-informed investment decisions!
