Personal Capital Review for 2022: Is It the Smartest App for Planning Your Retirement and Investing?

It’s handy to use budgeting applications since they integrate with your credit cards and bank accounts so that you can monitor your spending.

The software you use to track your daily spending generally won’t allow you to thoroughly examine your assets if you have funds in the markets.

For the most part, budgeting apps don’t come with extensive financial planning features. However, Personal Capital is an exception to the rule. Let’s learn more about Personal Capital in today’s review.

What is Personal Capital?

Personal Capital is a program that combines financial planning, managing money, and investing all into one convenient package. As a result, you’ll be able to monitor all your accounts in one spot via the app’s dashboard. This covers your financial statements, such as your checking and savings accounts, credit cards, and anything else you may have.

Furthermore, Personal Capital provides users access to solid technologies that speed up wealth accumulation. A retirement planner uses your portfolio to analyze your objectives for retirement and the likelihood that you will achieve them. Checking your assets’ performance using an investing checkup tool might help you identify areas for improvement.

Additionally, you may use it to keep tabs on your total wealth and observe whether it’s increasing or decreasing. Additionally, Personal Capital provides wealth management services if you have at least 100k in financial assets and don’t want to work with a typical stockbroker to handle them.

How to start using Personal Capital?

You may join Personal Capital by going to their website and filling out the registration form. Once you’ve entered your email and phone number, you’ll be prompted to create a password.

As part of the process, you’ll be asked various personal questions, like your name, age, and how much wealth you have saved for retirement. 

Integrating your accounts will begin when you’ve filled out the necessary information. There are over 12,000 financial institutions that can be synced with Personal Capital. They will also examine your past one to three months of financial records. To help you get started, Personal Capitals has provided you with a free dashboard that includes all the tools you’ll need and suggestions for your investing accounts.

How does Personal Capital work?

To begin using Personal Capital Cash, just download their app. You’ll be able to see your current net worth when you’ve connected all of your bank accounts. Users may begin tracking their assets, budgeting, and preparing for retirement from the dashboard.

To get a free assessment with a financial counselor, users need to connect investable assets worth at least $100,000. Intake questions are asked, and a customized approach is presented to the buyer.

Those who decide to sign up for wealth management services will have their cash transfer securities accounts held at a third-party custodian called Pershing. Once this is done, a wealth management specialist will review your portfolio to cut costs and minimize your taxable income.

How much can you save using Personal Capital?

Users can save hundreds of bucks monthly using the Personal Capital Budget Analyzer feature. Personal Capital this feature will cancel unnecessary subscriptions and tell you where your funds are going and how to use every penny efficiently. If you’re considering buying a home or a vehicle shortly, you may also use its other features like the Savings Planner.

Pros and Cons

Here are some Pros and Cons of Personal Capital


  • Personal Capital is a one-stop shop for all your financial management needs, including budgeting and investing.
  • The Financial Dashboard of Personal Capital is a fantastic resource that offers a wide range of investing and budgeting options. 
  • Their Wealth Management service employs various tax-avoidance techniques to reduce your taxable income.
  • The Wealth Management service’s two financial consultants may manage your complete economic life.
  • Personal Capital is an excellent tool if you value social responsibility and want to ensure your investments reflect your beliefs in this area.


  • There is a $100,000 minimum investment for the Investment Service and a $200,000 minimum investment for the Wealth Management service, which excludes small and medium-sized investors.
  • Current returns are much below those offered by their competitors’ financial institutions.
  • Debit cards and bill payments aren’t included in the account, making it a lesser product than the competitors.
  • Wealth Management is an option for those who register for the basic version of the program. This has been labeled as “annoying” by specific users and readers.
  • An excessively high management charge of 0.89 percent of AUM.

Final Review of Personal Capital

Personal Capital’s retirement planning, budgeting, and investing features are among the finest available among the top budgeting applications. Personal Capital can assist you regardless of whether you are interested in determining if you are on schedule to retire, identifying areas where your investment strategy might be improved or comparing various retirement plans. 

When it comes to increasing your net worth as quickly as possible, characteristics like this come in handy.

Budgeting is a breeze with this software, thanks to the well-designed dashboard. Personal Capital offers much, but its retirement and investing tools are outstanding.


Is there a cost to using Personal Capital?

You may use Personal Capital’s free app to monitor your net worth. However, certain functions are only accessible to those who invest with the firm. Paying an annual charge for their wealth management services will depend on how much money you have in your account. Investing up to $1 million pays a rate of.89%. Fees are cheaper for more significant investments.

Is Personal Capital hosted on the cloud?

Yes, Personal Capital is hosted on the cloud. Despite the inherent dangers of cloud storage, this organization employs AES 265-bit encryption. This encryption is favored by most federal agencies and is military-grade encryption.

Does Personal Capital work beyond the United States?

Personal Capital is only available to U.S. citizens and residents. You also need a functional phone number in the United States.

Are online services available from Personal Capital?

A net wealth calculator and a savings and retirement plan tool are available via the Personal Capital app. Additionally, you can have your interest payments deposited into your bank account directly. Personal Capital doesn’t charge for transactions or wires above $1 million, even if you use it a lot.

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