If my kid is wanting to go into engineering or another STEM field I’d love for them to be able to take calculus in HS
I’m sure there’s a way schools could work a finance class in
My high school had multiple finance classes. I’m sure a lot do nowadays
I made a CSV file tonight with 14.5 million rows.
Halp.
While I would agree that you can do what you want with a spreadsheet I think there are real advantages to using an app. There are really 3 out there that standout. Quicken, Mint and Personal Finance. They will all import from all of your accounts -- bank accounts, brokerage accounts, retirement accounts, credit cards, etc. This saves you the time to enter all your transactions. They will guess at what category the transactions should be charged to and most of the time the guess will be correct. Sometimes the guess will be off and once you correct one transaction it will remember the correct category for the future.
I use Personal Capital. It has the Instream Monte Carlo built in. This may not mean much to most. It's a very powerful retirement planner that is used by many of the top financial planning firms.
All of these will let you quickly see your asset allocation and provide a personal balance sheet along with details of your spending. All of the transactions can be exported to a csv file. I do this annually to help prepare some reports for my wife to review.
We live in Canada for 4+ months annually. Here I used Mint as it allows import of my Canadian accounts.
Give one of these a try and see if it doesn't lessen the drudgery.
I use Mint, but am intrigued by Personal Capital. Are most of the tools free? Looks like you have to pay for some of the wealth management stuff.
Mint works for me right now, but curious if anyone has used both Mint and PC, and what advantages either one has over the other.
Good lord, I already have a complicated job that makes my head spin. The last thing I want to do when I get home is be an accountant. With the hours you're likely spending on that level of management, my guess is your making only a few bucks an hour for the work.
Hide your money from yourself by moving it immediately into all your retirement/savings accounts, invest in some real estate that will pay for itself, pay a financial advisor and a tax professional and spend as much time as possible with your family is my advice.
I use Mint, but am intrigued by Personal Capital. Are most of the tools free? Looks like you have to pay for some of the wealth management stuff.
Mint works for me right now, but curious if anyone has used both Mint and PC, and what advantages either one has over the other.
My financial advisor has tools way better than some manual spreadsheet that has to be babysat 10 hours a month.Wasn't seeking financial advice, but thanks.
I use both. The budgeting tool on Mint is better. The Personal Capital retirement tool and asset allocation tools are great.
It is free to sign up and use the tools, but they will contact you to do some investing with them. I did and pay .90% in management fees which is reasonable. They are somewhat of a robo-adviser, but depending on how much you invest, you get two advisers that are assigned to your account. Mine have been very good. I love what they do in regards to tax loss harvesting. They automatically balance your asset allocation according to your risk tolerance which is nice.
Personal Capital offers the app for free. They will pester you about scheduling an appt with an advisor. This will end in the advisor trying to get you to use their advisory service. I don't use their advisory service as I was an RIA for 15 years so I'm comfortable with just continuing the passive approach, primarily DFA funds, that I advised on.
I think PC has better reporting and is easier to navigate. Mint's hook is budgeting. Mint pesters you with on screen credit card and other offers. I just ignore these but they take up real estate something PC doesn't do.
As I said in an earlier post either of them will capture all your transactions and simplify the job. I only export transactions annually and then just for archival and analysis. You could do this more frequently if you thought that working with the detail helps you.
My financial advisor has tools way better than some manual spreadsheet that has to be babysat 10 hours a month.
My financial advisor has tools way better than some manual spreadsheet that has to be babysat 10 hours a month.
Cool story. Maybe some people, you know, actually enjoy managing their own finances? What a concept.
Can't we have one thread on this board where we don't bag on other posters.More super valuable information. Great contributions here, keep them coming.
Can't we have one thread on this board where we don't bag on other posters.
My financial advisor has tools way better than some manual spreadsheet that has to be babysat 10 hours a month.