![]() Notice how the Projected cash flow is short about $800/month in retirement if the simulated recession plays out according to the variables. The new free tool provides users and clients the ability to view their current portfolio during past recessions such as the Dotcom Crash and the Global Financial Crisis of 2008. The idea is to allow users to see what might happen if the next recession is like the past.īelow is an example of the Recession Simulator at work. In June 2020, Personal Capital came out with its Recession Simulator. ![]() This is what free wealth management is all about. Here’s a snapshot of the command center when you first log on.Īre you on the right retirement path? Click to find out for freeįor example, you can input different life events such as a wedding or home purchase in your cash flow statement and recalculate your financial future to see how you’ll do. The better you can track your net worth, the less stress you will feel. It’s important to have a holistic view of your overall financial health so you know where to allocate resources. Now I can just log into Personal Capital to see how everything is doing in one place. My finances were a mess, and I’m sure your finances could use some organization as well. These accounts ranged from brokerage accounts, money market accounts, CD accounts, checking accounts, IRA, and my 401K. 1) Helps You Reduce Financial Stressīefore Personal Capital, I had to log into eight different financial institutions to track over 30 different financial accounts. Here are 10 reasons to use Personal Capital today. ![]() Free Wealth Management Using Personal Capitalĭespite being free, Personal Capital has the best free wealth management tools to help you build your net worth. With uncertain times, it’s more important than ever to keep track of your finances. Do not waste all those hard-working years building wealth only to see it disappear because you weren’t paying attention! The last thing you want to do is wake up 10 years from now and wonder where all your money went. Until this day, I still keep in touch with senior management and use their free product weekly. From 2013-2015, I spent time in their offices consulting for them on a part-time basis. It was founded in 2011 by Bill Harris, former CEO of Intuit and Paypal. Personal Capital is based right here in my hometown of San Francisco. In addition, the tool aggregates all your financial accounts in one place so you can get a holistic view of your money. Today, thanks to technology, everyone has access to free wealth management to help you manage your wealth.įor all of you who want to optimize your finances, I recommend signing up with Personal Capital. They are the best free wealth management tool today. You would have to pay an advisor a fee to get some advice. In the good old days, there was no such thing as free wealth management. ![]()
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