Personal Capital Financial Tools: Are They Really Free?

Home » Personal Capital Financial Tools: Are They Really Free?


Should you funds your cash, analyze your investments, and save for retirement, you’d doubtless profit from with the ability to observe your finances in one place.

That’s the place Private Capital may help. Private Capital is a digital wealth administration firm that gives funding advisory companies for a price. Private Capital additionally gives a safe, complimentary, on-line monetary Dashboard. And sure, Private Capital’s monetary instruments are fully free. The vary of instruments — from the Net Worth Calculator to the Retirement Planner — can be found to anybody wanting a clearer image of their monetary life.

“I’m an beginner private finance geek, and I really like watching my internet price develop,” shared Melanie L. in a Private Capital software person’s testimonial from February 2021. “Your instruments have helped me grow to be a better investor and helped me be extra motivated to save lots of for the longer term.”

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Right here’s How Private Capital Can Supply Instruments for Free

Tens of millions of individuals use the Private Capital Dashboard to remain on high of their funds, on their very own time and with out cost. This providing is core to the ethos of Private Capital: Getting readability in your cash ought to be straightforward, accessible, and free.

Learn Extra: How I Use Personal Capital

How can Private Capital afford to supply this useful resource?

The corporate makes its cash by offering wealth administration companies for a price through a group of fiduciary monetary advisors.

Learn Extra: What is a Fiduciary? Here’s Why It Matters in Money Management

In case you have over $100,000 in investable belongings, you might be eligible for Private Capital wealth administration companies. These companies are fee-only, which means you received’t get caught with costly investments hidden with commissions.

As an alternative, wealth administration shoppers pay an annual price primarily based on the scale of their funding portfolio. In alternate, Private Capital’s funding advisory companies group manages shoppers’ investments utilizing a proprietary indexing method known as Smart Weighting and different monetary planning companies, akin to tax optimization, property planning, and worker fairness steering. Learn more about investing with Private Capital.

Now let’s get on to the free monetary instruments.

Overview of the Free Monetary Dashboard

Private Capital’s free instruments are constantly acknowledged as a high monetary useful resource for individuals who spend money on the inventory market.

Learn Extra on CNBC: The Best Budgeting App for Investors in 2021

However there are a lot of methods you should use Private Capital’s free instruments.

To get began, you hyperlink a number of of your financial institution and funding accounts. As an illustration, folks generally combination knowledge from their checking account, financial savings accounts, IRA, and 401k accounts, in addition to their house mortgage, artwork, and — newly — cryptocurrency.

Syncing up all your monetary accounts is a course of that takes minutes and pays off in two large methods:

  1. You get a whole image of your monetary life in a single place.
  2. You’ll be able to take full benefit of the suite of award-winning monetary planning instruments.

Security Comes First for Your Information

Like every web site with entry to delicate monetary data, safety is important.

Private Capital secures your knowledge with AES-256 encryption, the identical rigorous requirements utilized by the U.S. navy.

It additionally has multi-factor authentication (MFA), which means that everytime you login from an unknown system (or clear your browser cookies), you’ll be required to enter a one-time code despatched to your registered system. If you wish to up-level your account safety, you may replace your settings to ensure you MFA earlier than each login.

Learn Extra: Is Personal Capital Safe? Our Financial Security Explained

High Monetary Instruments Inside Your Dashboard

When all your monetary accounts are aggregated, you should use the instruments to funds your cash for short-term objectives and put together for the lengthy haul. Following are 5 in style free Private Capital instruments.

1. Investment Checkup

This software reveals you the way properly your investments are performing – and the way they may do even higher. You’ll be able to examine your present portfolio allocation to the perfect goal allocation designed to attenuate danger and maximize returns in your monetary objectives.

2. Fee Analyzer

You possibly can be paying hidden charges in your mutual funds and 401k. This software uncovers hidden charges in your mutual fund, investing, and retirement accounts. Monetary establishments regularly cost annual charges, and over time, these charges add up and might dramatically cut back your lifetime financial savings.

Get a step-by-step plan for minimizing funding charges.

3. Savings Planner

This software reveals you the way a lot you’re saving, plus how a lot try to be saving. You need to use the Financial savings Planner to funds your annual retirement financial savings, work out your emergency fund, and make progress towards paying down debt.

4. Net Worth Tracker

Your internet price is an equation: each important factor you personal (belongings) minus what you owe (your money owed and different liabilities).

Every time you log in to the Dashboard, on desktop or cellular, you’ll see a whole view of your internet price. Over time, you may make sure that your internet price is trending positively by adjusting your spending and financial savings habits.

Learn Extra: Why It’s Important to Know Your Net Worth

5. Retirement Planner

Tens of millions of individuals use this software to make sure they’re on observe to the retirement they need. And in the event that they’re not, they will learn how to enhance their probabilities of retirement success.

You need to use the Retirement Planner to match totally different eventualities side-by-side. Should you like a brand new retirement choice — like saving extra and retiring early — you may even flip the state of affairs into your precise plan.

The software additionally offers peace of thoughts. You’ll be able to see how your retirement plan would have fared in a market occasion just like the Dotcom Crash or the 2008 Monetary Disaster.

And when you’re questioning how a lot you’ll have the ability to spend in retirement, this data-driven characteristic tells you simply how a lot you’ll have the ability to afford every month.

Better of all? The instruments within the Private Capital Dashboard are safe, visible, and — sure — free.

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