Video Review and Walkthrough of Personal Capital

We’ve done a review of Personal Capital in the past.

But sometimes there just isn’t a good way to put into words how well a new financial tool works.

Being able to show Good Financial Cents readers exactly how to sign up for an account with Personal Capital, look at what the tool looks like, and giving an overall walkthrough would require a video.

“But Jeff, I’ve never done a video!”, I explained… mostly calm.

“You can figure it out. Just give it a try. I think this is really important for readers to see.”, he retorted.

And that’s how we got here.

Hi, I’m Kevin Mulligan. I’m the newest contributor to Good Financial Cents. You can read a brief Q&A Jeff did with me, but don’t hesitate to leave a comment to get the conversation going.

Back to the video. Yes, I know I need to light up my face better the next time I’m putting together a video.

Besides that, I hope you enjoy the video and learn something about Personal Capital. I’ve really enjoyed the tool since I put this video together.

Don’t know what Personal Capital is?

Personal Capital is a unique tool designed to give you the true picture of your total portfolio even if it is spread out over several 401k, IRA, Roth IRA, and other investment accounts.

It was always a big frustration of mine to try to see the true investment picture when my financial accounts look like this:

  • my work 401k
  • my Roth IRA
  • my wife’s Roth IRA
  • my wife’s rollover IRA
  • a Lending Club portfolio I am building (more on that in a future video)

Then Personal Capital came on the market. Seeing the total picture has never been easier. Once you import all of your accounts it gives you a full snapshot of your allocations across the entire portfolio.

This is truly a powerful tool. The craziest thing? It is absolutely free. Open an account with Personal Capital. Try it for yourself. I don’t think you will be disappointed.

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Comments | 9 Responses

    • Kevin Mulligan says

      Thanks, Mike! Should have more like this in the future. Even if I have to tape a flashlight to my desk to light up my face ;)

  1. Rebecca says

    Kevin,
    Nice video and Personal Capital is a good concept. However, what happens if your Personal Capital account is hacked and they clear out your accounts? I know financial institutions will cover it if they are hacked and your money is taken. Would they cover this or would Personal Capital? I’m just been weary of giving my passwords to a third-party source.
    Thanks, Rebecca

    • says

      @ Rebecca Personal Capital is just for viewing purposes only. If someone were to hack your account, yes they could see your personal information, but they couldn’t do anything with it.

      Personal Capital also uses multiple levels of security and multi-factor authentication when you sign in making it extremely difficult for hackers to get in.

      Hope that helps!

      • says

        If they hack your personal capital account they have 100% all of your passwords AND some of your security question answers. These are all of the things stored in your Personal Capital account (to allow updating).

        Plain and simple, you are completely at risk and must trust them not to get hacked (just as we trusted target, sony, etc.).

  2. Sadie says

    I wholehaeartedly agree with Rebecca saying: I know financial institutions will cover it if they are hacked and your money is taken. Would they cover this or would Personal Capital? I’m just been weary of giving my passwords to a third-party source

    HOPEFULLY SOMEONE WILL PROVIDE AN ANSWER.

      • ThomasB says

        That doesn’t help at all. I’ve been following this company for over a year, and I have not seen a single review of its security that does anything other than parrot the company’s assurances. The company asks for ALL the credentials necessary to log into ALL of a person’s financial accounts. It’s not a question of “trust” in the company or its founders: I have to assume that sooner or later it will get hacked, and ask what the fallback protections are. I don’t see any. Although many people tell me the company has read-only access, the company itself doesn’t say that, and there’s nothing “read only” about the credentials they ask for. This is a massive security risk, as far as I’m concerned, and until they address it I wouldn’t go within a mile of this service.

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