Explore These 7 Fantastic Alternatives to Personal Capital Worth Your Attention
PERSONAL FINANCE
Exploring Top Alternatives to Personal Capital
By Lorraine Smithills
Updated: November 30, 2022
Personal Capital is a popular financial management application that boasts a range of handy features like budgeting, net worth tracking, and retirement progress tracking. However, for some, it may fall short of their specific needs. Today, let’s look at seven alternatives to Personal Capital.
Personal Capital 101:
You can use Personal Capital to manage your finances, track your spending and saving, and even plan your retirement. It’s helpful for those who’d like a single tool to view and manage their various financial accounts (like checking, savings, credit cards, investments, etc.). They offer free and paid versions, but do note that their wealth management services require a minimum investment of $100,000. That said, the free version is available for everyone and includes a plethora of useful tools.
Top Personal Capital Rivals:
1. Mint: This one’s for you if you need budgeting tools. Mint has been helping people track their spending and budget for over a decade and a half. It also provides a complete overview of your finances by pulling together all your accounts. Plus, it offers free credit score monitoring.
2. YNAB: If you’re done with basic budgeting and want something more advanced, YNAB is a perfect pick. It not only organizes your spending but also helps you allocate funds for achieving your financial goals.
3. Betterment: For new investors who can’t afford Personal Capital’s $100,000 minimum investment, Betterment is an appealing low-cost automated investment management tool.
4. Wealthfront: A competitor to Betterment, Wealthfront is ideal for semi-experienced investors. It offers automated investment management and additional features like a portfolio line of credit and tax-loss harvesting.
5. Vyzer: It’s a specialized tool for high-net-worth folks who need to manage diverse investments. Vyzer can track unconventional assets like real estate and partnerships, making it unique among these apps.
6. NewRetirement: If you’ve found Personal Capital’s retirement planning subpar, NewRetirement steps up. It is a comprehensive financial planning tool suite that helps you draft a detailed retirement plan.
7. Facet Wealth: If you want constant access to financial advice, Facet Wealth might be your choice. It offers portfolio management and personal advice from fiduciaries, but with a flat annual fee.
Takeaway:
Personal Capital is a good all-rounder, but depending on your needs, you might find a better fit among these alternatives. Before jumping in, make sure to read their terms and conditions to avoid unwanted surprises. Consider your current and future needs while choosing the best platform for you.
The platforms like Public, Moomoo, and Webull also offer decent investment features such as commission-free trades, powerful tools, and user-friendly interfaces. Depending on what you’re looking for, you can choose the platform that suits your preferences the most. Remember, it’s all about finding what’s right for you!
