![]() ![]() I already liked Mint and have been recommending it for years, so I was initially skeptical when Personal Capital joined the scene and asked me if I would try out their product. ![]() Net worth, every spending transaction, and investment allocation and performance. Instead of keeping track of 10 passwords and trying to make the rounds of every financial account on a regular basis, I now just tap the Personal Capital icon on my phone, enter a numerical PIN, and begin scrolling through the colorful graphs and pie charts of the family’s financial details. I find both Mint and Personal Capital to be significant life simplifiers, because they make things automatic. You can then log in very quickly and review all your financial transactions at both the high and low levels, to see what you’ve been earning and spending. Somewhat similar to Mint at first glance, this is one of those smooth and glossy programs that automatically collects all your account balances, investments, and spending in one place. You must invest your savings productively, rather than just stuffing them under the virtual mattress of a 1% savings account or certificate of deposit.įor several months, I’ve been using a new service called Personal Capital that addresses all of these things in a fairly motivating manner.You should have a good idea of your net financial worth.You must know how much you are spending.But each one is missing one of the key nuts and bolts of wealth and early retirement: These people have got the savings rate thing down, and thus they are able to accumulate money. The problem is, I have no idea if this is enough to see us through retirement. Because of this, we’ve saved up a comfortable nest egg of just over $1 million, invested in a mixture of 401(k), IRA, and taxable account Vanguard index funds. ![]() “My profession pays well, and I have always lived at less lavish standards than my coworkers. Is it really a good idea to dump all this into investments that I know nothing about?Ĭase B: The High-Earning Sensible but Oblivious Guy My house is paid off and I have $125,000 in CDs yielding 1% right now and another $150k in the savings account. I have been leading a very efficient lifestyle for most the past eight years, and I’ve mastered the year-round bike commute and the year-round garden. “I can Save like a Madwoman, but I’m afraid to Invest. ![]()
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