Optimize Your Investments with Personal Capital

personal capital investment tool review

Many my friends want to get their investments squared away without having to track every small dip and tick of the market. They are living busy lives and they don’t have the time (or really the desire) to nitpick their investments. They’re also tired of all the crazy fees that seem to be tacked on.

I feel the say way and I think you probably do too. (After all, that’s why you’re here – to save time and money, right? )

Free Financial and Investment Tools with Personal Capital

If you are looking at optimizing your accounts, Personal Capital has some wonderful tools to get you ready. One of our goals is to retire early. I’ve been using them because I was looking for a more robust tracking tool to gauge how our investments were doing. We have several accounts between the two of us and I wanted one place I could log into to get a snapshot of our progress.

We also wanted to see if there were some ways we can optimize our portfolio so we could minimize fees and instead use that money to grow our net worth.

I first heard about Personal Capital from Financial Samurai and I’ve been pleased with their service so far.

Portfolio Check-Up

Even if you think things are going well, it’s also handy to do a check up on your portfolio to make sure things are truly squared away. Besides making sure that your asset allocation meets your plan, you should also see if there is a way you can lower your fees. Personal Capital offers a free portfolio review so you can eliminate excess fees from your 401(k) like us.

Personal Capital will review your portfolio to make sure your investments are reaching their potential. You have the flexibility of tracking your portfolio by account or asset class.

401(k) Fee Analyzer and Mutual Fund Fee Calculator

Nobody wants to their hard earned money working for someone else when it could be put to better use (like growing for your retirement). Besides typically having fewer investment options than an IRA, 401(k)s can sometimes have higher expenses with their funds. That’s a double whammy.

The money comes from you, so you’re the one losing out. If you have a 5.75% front load instead of investing $500 a month, you’re investing $471.25. That might not sound like a lot, but it adds up over time. There is also no proven advantage into getting a loaded fund versus a no load fund with the same performance level. How can you avoid such a waste?

Personal Capital will also benchmark your 401(k) for free so you have a clear idea of whether or not, you need to update your holdings. It’ll be a change that will speed up your portfolio’s growth as the years pass.

Stay in the Loop with Personal Capital

You can set it up so Personal Capital can give you helpful and informative weekly updates on your finances, allowing you to know right away if you need to make any adjustments.

We’ve been using them for about a year now and I enjoy how easy it is to get a snapshot of our finances with them. With the free tools that they offer, it has been a great solution for us. Since most of our financial system is automated, Personal Capital is a tool that keeps us in the loop without having to log on everyday. If you’re in a similar boat, I recommend checking them out and signing up today.

For those who have already tried out their service, please share your feedback in comments.


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