Why Personal Capital is the Best Tool to Empower Your Retirement

Introduction

Retirement planning is crucial for ensuring a comfortable life after you stop working. However, planning for retirement can often be a daunting task, with various tools and platforms available in the market, each with its own features and benefits. Personal Capital, a digital wealth management platform, is an excellent tool that can help you plan and manage your retirement better. In this article, we will discuss why Personal Capital is the best tool to empower your retirement.

What is Personal Capital?

Personal Capital is a digital wealth management platform that provides users with a suite of financial tools and resources to help them manage their investments, track their net worth, plan for retirement, and more. The platform offers a range of features such as investment management, financial planning, account aggregation, and retirement planning, all accessible in one user-friendly dashboard.

Why is Personal Capital the Best Retirement Planning Tool?

Here are some reasons why Personal Capital is the best tool to empower your retirement:

1. Holistic View of Your Finances

Personal Capital’s retirement planning tool provides a comprehensive overview of your retirement planning status. It enables you to view all your accounts, including your 401(k), IRA, Roth IRA, brokerage, and other investment accounts in one place. The platform also provides cost and asset allocation analysis for each account, highlighting any fees or expenses that may be impacting your investments.

2. Projection of Retirement Income and Expenses

Personal Capital’s retirement planner projects how much income you will need in retirement, based on your current savings rate, expected Social Security benefits, and other sources of retirement income. It also estimates your expenses in retirement, including healthcare costs and inflation, to help you plan your retirement budget better.

3. Investment Management

Personal Capital’s investment management service provides professionally managed portfolios tailored to your investment objectives. The service is available for accounts with balances over $100,000 with an annual advisory fee of 0.89%. The portfolios are diversified across asset classes, and the platform uses tax-loss harvesting to help maximize after-tax returns.

4. Retirement Fee Analyzer

Personal Capital’s Retirement Fee Analyzer enables users to compare the fees they are paying across their 401(k) and other retirement accounts, with industry benchmarks. The tool can help users discover hidden fees in their accounts and identify ways to reduce their costs.

Conclusion

Planning for retirement can be overwhelming, but Personal Capital offers a comprehensive suite of tools and services to help you manage your investments, track your net worth, plan for retirement, and more. With Personal Capital, you have access to an all-in-one platform that can help you achieve your retirement goals. So, if you want to empower your retirement planning, Personal Capital is the tool for you.