Thursday, May 30, 2013

Backup of personal capital

Make your money work for you – a review of Personal Capital
There are a number of students not burdened by outrageous college expenses that indeed end up as debts. So what do you do when you are cashed up? Well, very much the same as students with debts who are managing their money by attempting to pay both Federal and private loans as quickly and as efficiently as possible.

Students with a considerable amount of money ($100+ net worth) will also have to manage their money, but in a different way. Nothing is very sure nor secure in the current economic climate, so ensuring that your money is safe and secure and indeed working for you is highly important.

As with cash strapped people, banks and financial companies want your business.  There are innumerable options to consider but despite both Mint and Quicken being excellent sites, I believe that these are perhaps not as sophisticated as might be required for a student with significant money to manage and invest. Personal Capital is a strong player in this category and worth further investigation.

  • -          Is a cash flow management fund
  • -          focuses on investment and retiring and as opposed to simple budgeting
  • -         Very good security – and I mean your money needs to be safe
  • -         Personal Capital is free, to establish
  • -         Will recommend financial advisors where are cost will be negotiated
  • -          It is neat and easy site to navigate
  • -          The provision of various graphs enables you to see how your funds and investments are hopefully growing
  • -          Allows you to have access to all of your finances in the one place
  • -          They offer a great service in tax optimisation
  • -          Also a great service with asset allocation
  • -          Simple to use ipad app
  • -          You have a lot of control in moving your money around from account to account
  • -          Asset allocation however is fixed at this point though with plans to give you the investor, more flexibility
  • -          The security is very thorough which aids in precluding others getting your account or indeed identity theft
  • -          The investment fee  varies depending upon the amount of money you have from .95% to .75% (the more money the cheaper the fees)
  • -          Your own personal financial advisor

Personal Capital does not offer the flexibility that serious and into it investors might seek.  For others, this appears to be a trustworthy business that should try and do right by you and money.
It is good site with many options. It a service that is constantly evolving and responding to what its clients want. What might be missing now will surely be included shortly. I like the idea of your own personal financial advisor – this makes them look after your interests, if not just for you, then to maintain and develop their own reputation as a solid and knowledgeable planner. Also remember the importance of word of mouth. If you are happy with Personal Capital and their services you will recommend them to others.
Personal Capital is a serious player in a large and completive fee.

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