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After hearing good things about investing app Personal Capital, I tried out its free features to see if it could help me with my money.
Running my investments through its fee analyzer made me realize I was paying 10 times more in fees than I would for similar accounts, and inspired me to switch to lower-priced options.
I also tried the budget tracker, which saved me the time I usually spend managing our spreadsheets. At this point, Personal Capital has saved me time and money.
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Whenever people rant and rave about a service, I tend to roll my eyes. I can’t help it — I’m a skeptical person by nature.

Personal Capital came onto my radar after seeing a bunch of websites and social media accounts rant and rave about it, so naturally I was curious … but skeptical. It was free (although you can pay for portfolio management) and offered a bunch of interesting features like the ability to see all my financial accounts in one place.

Its retirement planning tool was also intriguing, since my husband and I had a whole bunch of random retirement and brokerage accounts and weren’t sure what we were paying in fees, or whether it made sense to consolidate our accounts.

After trying Personal Capital for a few weeks, we know exactly what we’ve been paying in fees — and how we’re going to save thousands in the future.

The investment fee analyzer showed us we were paying 10 times more than we had to

After a simple sign-up process, we linked our retirement and brokerage accounts to see what was going on. We knew our investments had fees, but we wanted to see just how much we were paying … and, more importantly, how much we could be losing.

What we saw shocked us. Most of our accounts were fine — we didn’t pay much in expense ratio or management fees — but there were a few mutual funds that we opened ages ago we hadn’t bothered to look at.

With these accounts, we were paying more than 10 times what we were paying for similar ETFs elsewhere. A fraction of a percent didn’t seem like a big deal until we saw Personal Capital graph in its fee analyzer, which shows just how many years of retirement we could be losing out on if we continued the way we …read more

Source:: Business Insider

      

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I ran my investments through Personal Capital’s free tool and was shocked by how much money I’d been wasting in fees

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