Personal Capital Review What You Need To Know

Personal Capital is a rapidly growing digital wealth management company that provides free state-of-the-art financial tools to help people better manage their finances.

Personal Capital’s digital wealth management arm provides comprehensive services with personalized financial advisors working with you on your investment wealth strategies.

Pros In Depth

Easy To Open An Account Connecting Your Financial Accounts For The Best Experience Opening your account is straightforward, starting with providing your personal information. For the best experience, users should connect all their essential financial accounts, notably banking, retirement, investment, mortgage, credit cards, and other loans.

Connect Your Accounts To View Finances In One Place

You are linking all of your accounts to get a 360-degree view in one place. This action is not only convenient but smart as it may highlight problems you may not readily realize when you review your accounts separately.

Personal Capital Innovative  Free Money Tracking Tools The money tracking tools are in Banking, Planning, and Investing, containing several money tracker tools when you sign up for an account. Each area has differentiated tools designed to give you a deeper perspective. The free planning tools are well worth your attention and reap several benefits.

Cash Flow Tool Provides Another View Cash flow gives you a picture of your income and expenses. To be financially secure, you need to spend less than you earn so you can accumulate more savings, pay off debt and invest more to build wealth.

Savings Planner The savings planner uses three inputs: emergency funds, retirement, and debt paydown to calculate your annual savings. You can compare them to the previous year’s level and your savings goal when answering a questionnaire.

The retirement planner has a retirement calculator that allows you to run simulations based on your portfolio and other significant financial events. You can input buying a home or simulating a recession.

Personal Capital uses a “Smart Weighting” approach using low-cost passive indexing, which provides excellent investment with low expenses.

Personal Capital uses Monte Carlo analysis to project potential outcomes of Current Allocation and Target Allocation they recommend for your portfolio. The research involves a computer running thousands of simulations to identify probabilities to identify various outcomes. These allocations come from the efficient frontier.

Personal Capital encourages you to meet with a financial advisor to get a review of your investment portfolio for free. This free perk gives you a chance to get a professional view of your assets and possible recommendations. Choosing a financial advisor is a significant decision, and don’t be afraid to ask questions of your prospective advisor.

If you are serious about managing your personal finances and building your wealth, you will want to consider Personal Capital. The company provides an excellent entry for an average person to take advantage of its superb free suite of budgeting and other financial management tools.

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