Why I love Personal Capital.com: Mint.com For Rich People

PersonalCapital
If you have been searching for an app that focuses on investing: retirement, asset allocation, and tax impact your wishes have been answered. The application is Personal Capital, sign up is available through personalcapital.com.

If you have already used Mint, Pageonce, or some other personal finance software you will already be comfortable with sharing your finances with a aggregation site. If this is a new concept, personal capital is extremely secure. In fact, each time you login from a new device or computer the site forces you to validate via email or phone. This is well beyond what your actual bank asks for. Once you have signed up adding accounts to Personal Capital is easy, all you need to do is select or search for the bank, credit union, credit card, or investment management firm you want to track data for and then enter your current login information for that entity. Personal Capital will then log in to the site and begin aggregating your financial data. If the financial site you’re connecting to requires additional authentication information, like your mother’s maiden name or the first elementary school you attended, personal Capital can handle this too, without any problems.

Key Features

• Universal Checkbook – Deposit checks via their mobile app. Take a picture of your check and the funds are deposited.
• 401(k) Fee Analyzer – Find out how much your retirement plan is costing you.
• Tax Optimization – Are your investments fully optimized for taxes? Though currently Personal Capital does not understand the difference between taxed differed accounts and taxable accounts (another planned feature).
• Investment Checkup – Are you meeting your retirement goal? It is simplistic compared to other planners, but a good starting point.
• Asset Allocation Target – Are you overweight or underweight in any of the major equity categories? This currently lacks customization with adjusting allocations and is currently hard coded to their formula (additional future feature).
• Fund Costs – How much in taxes and expenses does it cost you with each fund you own? Currently it does not understand taxable, and tax differed accounts.
• Stock Option Tracker – Track the value of stock options and exercising from the company you work at.

What's the downside?
Personal Capital is a registered investment adviser and the hope is that you’ll like what you’re getting for free enough that you’ll hire Personal Capital to manage your finances. In order to be a a potential customer you must have assets that exceed $100,000. If you do, you’re assigned an investment adviser who will make some initial contact with you. Interestingly, once that contact is made, there is no hard sell for these services. If you want more guidance you are welcome to contact the adviser with basic questions about your finances, but the onus is on you to pursue Personal Capital if you want them to manage your assets.

Net Worth January 2013

This was a very good month in regards to Net Worth increase. I am up almost 9k. Debts are down 3k and assets popped 6k.

Just the facts:

Assets are up to $97,471.56 from $91,127.43 and debts down to $40,302.88 from $43,366.52 for a new net worth of $56,463.34 up $8,998.24 from $47,812.61.

All in all I am still paying down debts at a good clip and still saving at a good rate as well.

Assets are composed of: $62,758.23 in investment/retirement accounts and $34,713.33 in cash.

Debts are $41,008.20 in student debt. Other liabilities include $705.34 in credit card debt that is paid off in full each month.

Thanks for reading.

-educated debt

Net Worth December 2012

Happy New Year!

We have been at this blog for nearly 2 1/2 years.  Here is the chart of the progress made at this point. Net worth details below.

Just the facts:

Assets are up to $91,127.43 from $89,384.76 and debts down to $43,366.52 from $46,514.06 for a new net worth of $47,812.61 up $4,941.91 from $42,870.70.

All in all I am still paying down debts at a good clip and still saving at a good rate as well.

Assets are composed of: $58,289.37 in investment/retirement accounts and $32,838.06 in cash.

Debts are $43,366.52 in student debt. Other liabilities include $295.81 in credit card debt that is paid off in full each month.

Thanks for reading.

-educated debt

Net Worth November 2012

Time for a much needed update. Things have been busy and I have been slacking.

Just the facts:

Assets are up to $89,384.76  from $82,605.57 and debts down to $46,514.06 from $50,772.66 for a new net worth of $42,870.70 up $11,037.79 from $31,832.91.

All in all I am still paying down debts at a good clip and still saving at a good rate as well.

Assets are composed of: $55,955.65 in investment/retirement accounts and $33,429.11 in cash.

Debts are 95% student debt and 5% credit card debt that is paid off in full each month.

Thanks for reading.

-educated debt

Net Worth July 2012

Hey there readers. I started this blog two years ago and at that point my net worth was negative ($37,638.24) we are now positive $31,832.91.  This means the dial has been moved to the tune of nearly $70,000 ($69,471.11 if we're counting pennies) in the worst recession in decades. Hopefully the pattern of asset growth and debt destruction will continue. 


In the past month I was more aggressive then normal to pay off another private student loan. Assets are continuing to increase do to cash savings and the non-collapse of the equity and debt markets...yet. 


Assets are up to $82,605.57 from $79,700.53 and debts down to $50,772.66 from $53,540.76 for a new net worth of $31,832.91 up $5673.15 from $26,159.76.


Thanks for reading. Charts below.


- Educated Debt

Assets are up around 3k.

Debts are down also around 3k.

Net Worth March to June 2012

Been quite busy, thus the miss of a couple net worth posts. I am still moving in the right direction.
Assets are up to $79,700.53 and debts down to $53,540.76 for a net worth of $26,159.76

DEBTS

TYPE	DEBTS
Total	$53,540.76
Loan	$52,545.30
Credit	$995.46

ASSETS

TYPE	ASSETS
Total	$79,700.53
Investment	$48,275.05
Bank	$31,425.48

Why I love Award Wallet (awardwallet.com)

Award Wallet is a free loyalty points aggregation site. There is also a paid version that will show you expiration information for example. I do not have a loyalty program that award wallet does not support. This includes credit card to supermarkets and car rentals to hotels and airlines. Just like pageonce or mint are the solutions for banking award wallet is the premier solution for rewards programs.

There have been countless times that I have been checking in to a hotel or was rushed checking into a flight and forgot my membership number. The iPhone app resolves all of these issues. All your numbers are stored on your phone in the award wallet app. 

Beyond just tracking your balances awardwallet.com also will track your travel plans that are assoicated with your rewards account. This can be invaluable when a plane is diverted or delayed. Award wallet will send you a notification informaing you of the issue.

In short, this is a go to application for myself and I cannot recommend it highly enough.

Sign up and use the promo code free-xprqad for a free premium membership. Only ten available. 

-Educated debt