Is Personal Capital An Excellent Way To Manage Your Money?

manage money use personal capital

How to manage money for the future? The best solution is Personal Capital. It is one of the easy to use financial management software that provides its users with a platform to deal with all their finance solutions in one place.

This corporation was founded by Rob Foregger, Bill Harris, Paul Bergholm, and Louie Gasparini in 2009 in the USA San Carlos, California. The company aimed to provide digital financial advice to its users and introduce a secure platform to keep an eye on their finance.

By July 2018 corporation has more than $8 billion in assets under management, which is now dealing with over $10B in 2019 and more than 2 million active users who are taking advantage to manage their financial lives.


About Personal Capital

Personal capital is designed to provide an easy way to manage all your financial problems on a single platform and successfully build trust by more than 2 million active users who are managing finance just by using the free service.

Signup is free with essential tools to monitor all your financial activities, Personal capital offers some free finance managing tools, and you can do some activities for free like:

  • Tracking your net worth
  • Investment portfolio analysis for excessive fees
  • Asset allocation
  • Manage and track your income as well as expenses at one place
  • Retirement plans to ensure a secure feature

Without paying any charges, you can link all of your bank accounts one by one. It takes a short time to verify bank account information; once accounts are linked, it remains linked until you change login credentials.

In case the user is unable to find their bank listed in the database, then there is an option available to connect the bank by typing the name and addressing the website of the bank. New members are required to enter a valid email address, password, and mobile contact number under the signup option.

What will you get after signup?

Personal Capital is combining two services into one that we have already discussed. The first is the finance tracking system, a free version that will let you monitor all the spending, and a free Financial Dashboard where no fee to use multiple services.

The second, which comes with paid advisory service that furnishes a Robo-advisor and a team of dedicated personal investment advisors to manage your wealth, this paid service is “wealth management.”

How To Manage my money with a Personal capital free plan?

Financial Dashboard is mainly an expense managing app. In this dashboard, the option of budgeting is limited. However, the investment tool has not bounded. If you are not interested in using the budgeting, this free version will provide you valuable investment support.

A financial aggregator is also available in this dashboard, which allows the user to add all their bank accounts and link them to apply. Financial aggregator incorporates investments, loan accounts, credit card details, overall savings, and investment checkups. Even Personal Capital free account offers its users to create multiple retirement plans.

Features exclusively available in Free account: After you successfully signed in, all the information provided in graphs and charts will help you to understand your income, investments, and expenses better.

How to manage my money with financial tools for fee account holders are:

  • Net worth (Net worth calculator)
  • Budgeting
  • Fee Analyzer
  • Plan For Retirement
  • Education Planner

Track and manage money. (Free tools):

  • Notification Services
  • Upcoming Bills
  • Cash Flow
  • 401(k) fee analyzer
  • Personal Advisor
  • Investment Checkup
  • Personal Capital Cash

And how to manage my money with paid service of Personal capital:

  • Wealth Management Advisory/Service
  • Smart indexing
  • Supported accounts
  • Fees saving plan and recommendation
  • Tax management on taxable accounts
  • Socially Responsible Personal Strategy

Let’s Find out the total functionality of the free tools and then paid version.

Net worth (Calculator):

Net worth financial software calculates assets and liabilities to determine net worth. This finance management company help the user to understand net worth by a simple mathematical equation:

“The asset of user – what you owe.”

The most important to know overall financial strength just by merely adding the remaining amount you have in cash after selling your asset to pay liabilities, furnish your overall financial condition and stability.

By submitting all necessary information, the figure of your net worth can either be positive or negative.

For the demo watch this video

What liabilities are including in net worth: debts or you may owe on behalf of your assets, such as a vehicle, any loans, credit card debt, and mortgage.

The asset you have is understood like: total amount in cash you have in your bank saving accounts, any investment, your retirement accounts, stock and bonds, and other holdings such as jewelry and car.

  • Measure your performance over time
  • Keep an eye on the debts
  • Accomplish your goals

With the help of this free unlimited time access tool, you can compare your worth to others; also, it is easy to compare the average income bracket or net worth of your age. In the dashboard under net worth details, a generated portfolio shows all-important figures on how your net worth is changing periodically, and it made it easy to meet your long and short-term financial goals.

A portfolio view of your net worth allows you to examine the monthly, yearly, or lifetime performance of your account with Personal capital easy to use portfolio tracking tool.


For having full control over your daily spending and cash flow, then this tool is made for you. You can quickly analyze your cost of living with categories such as health care, groceries, and clothing also as individual transactions by using the cash flow tool.

The budgeting tool provides you monthly statements with all details on how you have been spending your money and indicates your upcoming bills. However, this digital finance management platform does not allow you to pay directly through the application, so you have to pay those bills manually from your bank account(s).

Cash Flow Analyzer:

The cash flow analyzing tool can create a budget for the user according to their requirements and needs. It let the user track income and expenses in the form of cash flow by synchronizing daily data from all your bank accounts that are linked to this software.

Regardless of a free plan of personal capital financial dashboard limits the budgeting side, is a fantastic service for investment managing.

401(k) Fee Analyzer:

A massive number of employers sponsored their retirement plans and only a few people know the cost of investment fees hidden under the terms and conditions. Those plans cost higher than this financial management support.

401(k) analyzing tool works to calculate the exact amount that is charged annually in your policy. If you are aware and the cost of the retirement plan is exceeding your expectations, then the tool suggests alternative allocations into lower-cost funds to save more on the retirement.

Investment Checkup:

An investment checkup might be one of the most reliable investment tools in the free dashboard. Once a user aggregates their investment accounts on this platform, this tool can help to optimize linked accounts.

It can also recommend how you can adjust portfolio mix to the betterment of overall investment efficiency.

Personal Capital Cash:

The Personal Capital Cash and savings planner account was launched mid of the year 2019, this high yield account with aggregated FDIC insurance is offering a complete savings solution.

PC’s piggy bank covers balances up to $1.25 Million and a savings planner, which is a saving tool that helps people to plan annual retirement savings and emergency funds and pay down debt.

There are no specific requirements to open an account, and only you have to apply through your capital account. The company has no provisions for minimum balance, as well.

The annual percentage of yield (APY) is 23 times bigger than the national average you would get with a typical savings account, with no limits of withdrawal and aggregated insurance protection up to five times more than what most banks offer to you.

“We have more than 2 million registered users who together keep more than $41 billion in cash or money market accounts, “says Jay Shah, CEO of Personal Capital.

“If those people are earning a national interest rate on that cash, that amounts to hundreds of millions of lost interest each year. We saw that, and we knew right away that we had to do something. So we built Personal Capital Cash to put that money back into the hands of American consumers.”

According to the report on the economic well-being of U.S. Households, published by the Federal reserve, Stats that a large number of Americans couldn’t cover an unexpected $400 of their expenses with cash, illustrating the need for savings support beyond retirement or vacations planning.

Savings Planner:

Personal capital’s approach to finance management and with the team of experts, the company is planning to launch a new tool under the basic dashboard to the original yield account: savings planner.

Savings planner calculator breaks down and tracks annual savings goals for retirement and emergency fund by taking into account everything from monthly expenses to taxable versus tax-deferred accounts.

“Too many financial firms are trying to tell Consumers that investing is easy–that they can just make coffee at home instead of purchasing the latte,” says Shah.

“But we know better than that. Saving, whether for retirement, a short-term goal, or in the event of an emergency, may cause anxiety. Personal Capital is building growing, transparent solutions to help people feel comfortable in their money choices.”

This piggy bank, reinvented.

  • 1.55% APY1
  • No fees
  • FDIC insured2
  • Unlimited monthly transactions4
  • No minimum balance
  • Earn 17x the national rate3

Note: ** Please read the disclosures.

Personal Capital Cash Disclosures

Last updated on 23/3/20

*Personal Capital Cash is offered through Personal Capital Services Corporation (Personal Capital). Personal Capital is not a bank. Bank deposit products provided by UMB Bank n.a., Member FDIC.

To participate in the program, you must open an account at UMB Bank, through which your funds will be placed in the account at participating program banks. . . . . . Read More

Notification Services:

At the registration time, you are required to verify your credentials, such as valid email and phone number.

When you click on sign up, then to confirm both email and phone number company asks for verification by going to the verification link and security code. Every time you logged in to your account, you may ask for a security password send to your registered number.

Personal capital entertains users by sending them a monthly statement of portfolio and spending.

Education Planner:

This simple but helpful tool will help the user to compare the fees of specific colleges and calculate your annual expenses so you can better manage your savings without calculating manual or gathering data for educational expenses.

Plan For Retirement:

Personal Capital offers free access to plan retirement under the main dashboard.

The best wealth analyzing tool for those who are looking at the answer to how can I manage my money. In the main window, you will see all of your financial activities to track them every day.

By taking advantage of this plan for retirement, you will be able to access spending goals, income events, and project future portfolio value.

Then the retirement Planner gathers all the data you have entered automatically and tells you what kind of advantages are going to have on your retirement.

Perhaps this retirement planner is the most comprehensive of many free and paid tools out there.

Video Guide: How You Can Save For Your Children And Retirement Plan

The planner has a series of what-if scenarios to help you according to your situation. You can play with it.

Wealth management Services of Personal capital

The software is free for the user, and you are not under any obligation to take benefits.

But if you have $100,000 to 1 million deposit amount, then they offer Robo and dedicated human advisors sometimes that consists of a team of experts to guide you to save more of your money.

The major part of the WMS. Financial experts are available at live support by phone call, email, live chat, or web conference 24/7.

How To Manage My Money With Wealth Management Service?

This paid service includes; smart indexing of incorporates modern portfolio theory and equal sector/size weighting.

  • Support accounts for traditional IRA, Roth IRA, Joint Accounts, trust, and Taxable accounts.
  • Minimize fees by direct investing in stock instead of ETFs you can reduce annual costs.
  • Tax Loss Harvesting minimizes taxes in taxable accounts.
  • Personal capital directly cannot manage 401(k) and 529 plans but will give advice.
  • A socially responsible personal strategy is a new service that allows you to personalized investment strategy for their portfolio.

Free Access To Download Your Data:

If you are willing to collect all your data and take the printout, then there is an option available under “All Transactions”  to download in the “CSV” format no matter what browser you are using on any platform.

To make prints directly from the browser or application option is not live yet. However, Personal capital has news to add this feature shortly.

Pros & Cons



- 360o  View of your finance — All your bank and cash details at one place.

- For wealth management service you need at least  $100,00 to 1 million to deposit for Robo and dedicated expert advisor.

- Best Free Application to manage Retirement plan without paying a penny.

- Access via mobile application and pc (online).

- No hidden charges in the wealth management version that charges annually for paid service.

- Personal capital new savings account that pays more than the national average with unlimited and emergency withdrawal.

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