Money

Friday Financial Quickie #3 – Personal Capital Review

The third in a series of quick hitter Friday personal finance posts. Full disclosure: I’m not affiliated whatsoever with Personal Capital (other than I use the app), and simply want to share a great tool. 

About Personal Capital

Personal Capital is a personal finance app and website that allows you to see and analyze all your accounts in one place (and it’s free!).

If you’re like me, you have a few different bank accounts, a couple credit cards, a brokerage account, a 401k (or two if you’re married), and a smattering of other financial accounts.

It’s hard to know how all your accounts fit together and whether you are on the right track to achieving your goals.

Well, Personal Capital makes it easy and you only have to remember 1 password (or a 6-digit pin for the app)! I’ve enjoyed exploring their app and website, and wanted to share it with you. 

3 Things I Like Most: 

1. User Friendly!

They make it super easy to link all your accounts and navigate through the different menus.

I thought it was going to take forever to link all my accounts, but there were no hiccups.

There is a menu on the side which lists all your accounts. From there, you can select an individual account and see specific account holdings, activity and performance. 

2. Net Worth Snapshot

Are you working towards a specific number? The app will provide you with your current net worth based on all the accounts you have linked.

3. Allocation analysis

Based on all your investments, Personal Capital will tell you the percentage you have invested in each asset class

For example, I linked all my investment accounts and was able to see the percentage of my portfolio invested in U.S. stocks, bonds, cash, international stocks, etc., and it displays in a color coded table or graph.

I’ve always looked at my allocation from individual sites, so this was the first time I’ve seen everything in one spot. Great feature!

 

Other features: 

  • Budgeting
  • Retirement Planning
  • Performance Analysis

I was initially hesitant to provide my usernames and password, but that was before I read their security info here. The website says they use a variety of encryption methods and:

“Personal Capital operates under SEC (Securities and Exchange Commission) jurisdiction and is audited for compliance with SEC cybersecurity regulations”

Based on what I’ve seen so far, I recommend giving it a try. You can sign up for free at the Personal Capital website. 

Let me know how you like it! For anyone that already uses Personal Capital, what are your favorite features?

Have a great weekend, 

TWH

Quick Review of Finance App/Website: Personal Capital
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2 thoughts on “Quick Review of Finance App/Website: Personal Capital

  • December 30, 2017 at 1:16 am
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    Very nice app. I liked the feature of being able to add my homes estimated value from Zillow. Including real estate values allows you to get a more accurate picture of your net worth. The apps I have used in the past only allow you to see bank and investment accounts.

    Reply
    • December 30, 2017 at 1:51 pm
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      I think I remember seeing that option, but since we’re renting I glanced over it. You’re right, though. Your home equity should be included. Glad you like it.

      – Jason

      Reply

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