Personal Capital Review: The Best Portfolio Management Software?

After one year of using Personal Capital, I am writing a review to help readers understand more about how to use Personal Capital to manage, track, and understand their financial portfolios.

This review is going to be about my thoughts of the Personal Capital Portfolio Management Platform and how anyone can use it more efficiently.

Want to know what I think about it? Read on!

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How I Stumbled Upon FI and What I’m Doing to Reach It Faster

A few years ago, if you asked me what I would do with a million dollars, I would generally respond with “buy a house, a nice car, and probably some nice tech gadgets”. The purchase of a house, a nice car, and some tech gadgets would drastically reduce the million dollars to a small amount and I would have very little left over.

However, after the discovery of Financial Independence (FI), my answer has changed and I would put all of it into the stock market.

What exactly changed in my thinking? Why and how was I influenced?

Well, this is the story.

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Why You Should Understand the Difference Between Wants and Needs

There it is.

The clear, sharp, and vibrant screen from one edge to the other. The smooth surface that flows over the edges. The uniform and smooth silhouette encompassing it’s entire back.

It’s the Samsung Galaxy S8, the latest and greatest tech available in the mobile space.

The phone that everyone wants and luckily enough, it’s right in front of you because you were among one of the first to pre-order this magnificent and splendid gadget.

But let’s pause for a moment and think.

Did you need or want it?

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Is A New Car Purchase Really That Bad?

When purchasing an automobile to transport yourself from Point A to Point B, one of the most controversial things to think about is whether you should a new or used car.

Typically, people would recommend you to go with the used car so you won’t get hit with the depreciation once you drive off the lot, a loan (if you pay with all cash), and increasing your lifestyle to suit that brand new car.

On the opposite spectrum, people would recommend a new car so you can have a peace of mind on the possible maintenance costs that come with a new car, a factory warranty, being the only owner of the car, and just in general, having something new.

To give you some preface, I’ve been on the market for an automobile for the last few months, given that my car was stolen a few months ago.

So for today’s article, I’ll be looking into and analyzing whether or not a new car purchase would be bad for a “financially literate” person with “trustworthy credit”.

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