5 Things You Didn’t Know Personal Capital Can Do For You

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I’ve been using and recommending Personal Capital for longer than I’ve been a blogger. I’ve watched my net worth grow and have seen the performance of my investments with their intuitive tools for six or seven years now.

You probably already knew that you can track the detailed balances and holdings in all of your accounts, including investment, checking, savings, and credit cards with one login.

#1: Track Your Spending

Tracking spending is vitally important to any plan to pursue financial independence or simply to get a handle on your own finances.

If you’re stuck with high-fee funds in an old 401(k), rolling those dollars over to a current 401(k) or into a rollover IRA might save you some serious money, although doing the latter could preclude you from doing the backdoor Roth. The solution may be as simple as selling those funds in exchange for lower-fee index funds you didn’t know were available or have become newly available) within the account.

#2 Analyze Your Investment Fees

#3 Break Down Your Asset Allocation in Detail

I use a spreadsheet to track my asset allocation into broad categories: US stocks, international stocks, bonds, and alternatives. While that’s helpful, Personal Capital’s breakdown is far more detailed and more accurate.

#4 Track Your Retirement Readiness

Personal Capital’s Retirement Planner combines your current assets with several inputs that you can alter and displays your present status along with a projection of future assets.

If you like a more automated solution that requires less work on your part, Personal Capital has an impressive suite of continually updated tools that can all be used at no cost.

#5 Track Your Debt Paydown Progress

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