5 Best Investment Apps For Managing Your Portfolios – myfi new shortcodes

Keeping track of your investment accounts is no small task. Between your employer’s 401(k) plan, one or more individual retirement accounts (IRAs), a health savings account (HSA) and taxable investment accounts, you could end up managing more than a few investment portfolios. My wife and I have more than a dozen.

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Juggling multiple accounts is a big job that comes with big challenges. Chief among them is creating an asset allocation plan that covers all of your separate investments. Tracking performance involves logging into multiple accounts and then aggregating the data. Keeping an eye on expenses across accounts can involve serious mental gymnastics.

One effective solution is to use software or an app to manage the process. Over the years I’ve used several, ranging from fintech solutions to spreadsheets. In this article, I’ll cover what I think are the five best investment tracking apps available today.

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Personal Capital’s Free Financial Dashboard

Personal Capital offers a free financial dashboard that I’ve used for many years. In my opinion, Personal Capital is the best overall investment tracking solution available today.

Begin by opening a free account, and then link your various financial accounts to the Personal Capital platform. For me, this includes not only my 401(k) and individual retirement account, but also taxable investment accounts, bank accounts and credit card accounts.

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Once your accounts are linked, Personal Capital’s dashboard aggregates all of your financial data and provides a wealth of information and analysis. Focusing on its investment tools, Personal Capital provides the following high-level information:

• It classifies your investments between retirement and taxable accounts.
• It displays your investments by account or by individual holding.
• It tracks your investment performance over time, comparing your returns to several benchmarks.

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How Does Personal Capital’s Retirement Planner Work?

Personal Capital offers a robust retirement planner that incorporates all of the holdings in linked accounts, along with spending data from the linked bank and credit card accounts. The retirement planner enables you to add specific income events, such as Social Security and planned pre-retirement savings. You can also add spending goals, such as a trip around the world that you plan to take after you retire.

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