Personal Capital Review 2024

Personal Capital Review 2024: Personal Capital is a personal finance management app that allows users to track their investments, expenses, and net worth in one place. It offers a wide range of tools, including budgeting and retirement planning, to help users take control of their finances.

In this article, we will take a detailed look at Personal Capital and its features, as well as its pros and cons, to help you decide if it’s the right app for you.

What is Personal Capital? | Personal Capital Review 2024

Personal Capital is a personal finance management app that allows users to track their investments, expenses, and net worth in one place. It offers a wide range of tools to help users take control of their finances, including investment tracking, budgeting, and retirement planning.

The app is designed to provide users with a complete picture of their financial health and to help them make better decisions about their money. With Personal Capital, users can easily see all of their accounts, including bank accounts, credit cards, and investments in one place, which can save them time and hassle of switching between multiple apps.

Personal Capital’s investment tracking feature is one of its strongest points. Users can link their investment accounts, such as 401(k)s and brokerage accounts, to the app and see all of their investments in one place. This includes stocks, bonds, mutual funds, and more. Users can also see their investment performance over time and get real-time updates on their portfolio’s value.

This can help them make better investment decisions and ensure they’re on track to meet their financial goals. Additionally, Personal Capital’s budgeting and retirement planning tools are also very helpful, giving users the ability to budget, plan for retirement and see their net worth all in one place, giving them a clear picture of their financial health.

Features | Personal Capital Review 2024

Personal Capital offers a variety of features to help users manage their finances. Some of the most notable include:

Investment Tracking

One of the main features of Personal Capital is its investment tracking. Users can link their investment accounts, such as 401(k)s and brokerage accounts, to the app and see all of their investments in one place. This includes stocks, bonds, mutual funds, and more. Users can also see their investment performance over time and get real-time updates on their portfolio’s value.

Budgeting

Personal Capital also offers budgeting tools to help users track their expenses and stay within their budget. Users can link their bank and credit card accounts to the app and categorize their transactions. They can then see how much they’re spending on different categories, such as groceries and entertainment, and set budget goals for themselves.

Retirement Planning

Another important feature of Personal Capital is its retirement planning tools. Users can see how much they need to save for retirement and create a plan to get there. The app also offers a retirement income planner, which helps users estimate how much income they’ll need in retirement and how to generate that income.

Net Worth Tracking

Personal Capital also allows users to track their net worth, which is the total value of all their assets (e.g. cash, investments, property) minus their liabilities (e.g. loans, credit card debt). This gives users a clear picture of their overall financial health and can help them make better decisions about their money.

Pros | Personal Capital Review 2024

Personal Capital is a great app for anyone looking to take control of their finances. Some of the benefits include:

All-in-One App

Personal Capital is an all-in-one app that allows users to track their investments, expenses, and net worth in one place. This makes it easier for users to see the big picture of their finances and make better decisions about their money.

Investment Tracking

Personal Capital’s investment tracking feature is one of its strongest points. Users can see all of their investments in one place and get real-time updates on their portfolio’s value. This can help them make better investment decisions and ensure they’re on track to meet their financial goals.

Budgeting

Personal Capital’s budgeting tools are also very helpful. Users can see how much they’re spending on different categories and set budget goals for themselves. This can help them stay within their budget and save more money.

Retirement Planning

Personal Capital’s retirement planning tools are also very useful. The app helps users estimate how much they’ll need to save for retirement and create a plan to get there. This can give users peace of mind and help them achieve their financial goals.

Cons | Personal Capital Review 2024

While Personal Capital is a great app, there are some downsides to consider:

Limited Investment Options

Personal Capital only supports a limited number of investment options. While it supports most major investment accounts, it does not support all of them. This may not be a problem for most users, but it’s something to keep in mind.

Cost

Personal Capital is a paid service, and while it offers a free version of the app, it has a cost for its more advanced features. Some users may find the cost too high for their needs, especially if they’re only looking for basic budgeting and investment tracking tools.

Limited Budgeting Features

Personal Capital’s budgeting features are basic compared to other budgeting apps on the market. While it allows users to categorize their transactions and set budget goals, it doesn’t offer more advanced features like bill tracking or automatic savings.

No Tax Planning

Personal Capital doesn’t offer tax planning tools, which may be a dealbreaker for some users. If you’re looking for an app to help you with your taxes, you may want to look elsewhere.