Personal Capital - Net Worth?

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The Wizard
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Personal Capital - Net Worth?

Post by The Wizard » Mon Jul 17, 2017 6:20 pm

On another thread:
CyclingDuo wrote: Why not sign up at Personal Capital so it calculates net worth for you - debts, assets, real estate, etc... .
So I signed up there to see how it works and if it's any better than Mint was.
But I don't see any place to enter my real estate and vehicle holdings.
What am I doing wrong?
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G12
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Re: Personal Capital - Net Worth?

Post by G12 » Mon Jul 17, 2017 6:32 pm

The Wizard wrote:What am I doing wrong?
I dunno, man, I mean you are The Wizard.... :P I really don't know, don't use the service.

The Wizard
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Re: Personal Capital - Net Worth?

Post by The Wizard » Mon Jul 17, 2017 6:35 pm

G12 wrote:
The Wizard wrote:What am I doing wrong?
I dunno, man, I mean you are The Wizard.... :P I really don't know, don't use the service.
You have good points, I may well discontinue this adventure before long.
But I like to be knowledgeable about stuff that's out there, hence my question...
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i<3Investing
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Re: Personal Capital - Net Worth?

Post by i<3Investing » Mon Jul 17, 2017 6:41 pm

I'm definitely no expert. But if you got to the main screen and click the "+" button in the upper right hand corner of the Net Worth side bar it brings you to a "link your account" screen. The bottom of that has a "Add Home Value Zillow" tab. That will add your real estate. Or click "More" and it has Car, Home, Jewelry, Art, etc to link a bunch of other options.

Gadget
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Re: Personal Capital - Net Worth?

Post by Gadget » Mon Jul 17, 2017 6:50 pm

You just hit link account, and at the bottom there is a spot that says add home value from zillow. If you hit the more button, you can add a car or any other random thing if you want to, but I've only done the home.

The Wizard
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Re: Personal Capital - Net Worth?

Post by The Wizard » Mon Jul 17, 2017 6:52 pm

i<3Investing wrote:I'm definitely no expert. But if you got to the main screen and click the "+" button in the upper right hand corner of the Net Worth side bar it brings you to a "link your account" screen. The bottom of that has a "Add Home Value Zillow" tab. That will add your real estate. Or click "More" and it has Car, Home, Jewelry, Art, etc to link a bunch of other options.
Ok, I tried that using the Android app and it's a bit different but I found how to enter other stuff.
Thanks!
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CyclingDuo
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Re: Personal Capital - Net Worth?

Post by CyclingDuo » Mon Jul 17, 2017 7:28 pm

The Wizard wrote:On another thread:
CyclingDuo wrote: Why not sign up at Personal Capital so it calculates net worth for you - debts, assets, real estate, etc... .
So I signed up there to see how it works and if it's any better than Mint was.
But I don't see any place to enter my real estate and vehicle holdings.
What am I doing wrong?
Sounds like other posters addressed your issues and you've got it going now. It's a pretty neat tool.

If you haven't read other threads on Personal Capital, keep in mind that you will eventually receive a phone call or two or three with attempts at getting you to go through a portfolio review with a Personal Capital advisor. There is no charge for that, but obviously if you did turn over your investments for them to manage there is an AUM fee. So politely decline all of the Spiels saying you are a Boglehead and have your index funds and asset allocation already well chosen - and are on track with a plan of your own.

We have never gone through their telephone "review", but have received calls on a few occasions from one of the "assistants" as their job is to lure you in and get you to set up a telephone review. You are under no obligation to, either. So be firm to counter their aggressive sales pitch.
"Everywhere is within walking distance if you have the time." ~ Steven Wright

Wricha
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Re: Personal Capital - Net Worth?

Post by Wricha » Mon Jul 17, 2017 8:52 pm

I really think personal capital is great. You can setup manually, categories for homes, physical gold, or any asset class. Check out how can analyze your portfolio.

imahtob
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Re: Personal Capital - Net Worth?

Post by imahtob » Tue Jul 18, 2017 11:37 am

How do you guys feel about providing Personal Capital with their bank account logins, brokerage logins, etc. I tried to put in some stuff manually, and found it difficult. And for now, I'm not comfortable giving them my account info.

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munemaker
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Re: Personal Capital - Net Worth?

Post by munemaker » Tue Jul 18, 2017 11:51 am

imahtob wrote:How do you guys feel about providing Personal Capital with their bank account logins, brokerage logins, etc. I tried to put in some stuff manually, and found it difficult. And for now, I'm not comfortable giving them my account info.
I did not have any problem giving them the accounts. I do the same thing at Vanguard and Fidelity, and previously I did it at Mint (which I closed). I don't think it is practical to enter the information manually into Personal Capital. Just entering all your checking account information alone would take a huge amount of time, and then there is the matter of accuracy.

MittensMoney
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Re: Personal Capital - Net Worth?

Post by MittensMoney » Tue Jul 18, 2017 3:09 pm

How do you guys feel about providing Personal Capital with their bank account logins, brokerage logins, etc. I tried to put in some stuff manually, and found it difficult. And for now, I'm not comfortable giving them my account info.


They don't store any passwords or usernames, when you link an account it creates an authorization token. However, for home value, cars, etc., I actually enter these manually since Zillow is a bit finicky. I do link my taxable, IRA, 401k, etc., though and after reading through their security measures I feel comfortable doing so.

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munemaker
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Re: Personal Capital - Net Worth?

Post by munemaker » Tue Jul 18, 2017 4:40 pm

The Wizard wrote:On another thread:
CyclingDuo wrote: Why not sign up at Personal Capital so it calculates net worth for you - debts, assets, real estate, etc... .
So I signed up there to see how it works and if it's any better than Mint was.
But I don't see any place to enter my real estate and vehicle holdings.
What am I doing wrong?
Why would you want to enter your vehicles? They depreciate quickly and don't have much value in the long run. Just ignore them as far as your net worth.

bloom2708
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Re: Personal Capital - Net Worth?

Post by bloom2708 » Tue Jul 18, 2017 4:44 pm

munemaker wrote: Why would you want to enter your vehicles? They depreciate quickly and don't have much value in the long run. Just ignore them as far as your net worth.
Many, many threads on this topic. A car is an asset that can be sold for cash quite easily. A $25k or $30k car without a loan should certainly be included in your net worth. :greedy

A $30k car with a $10k loan is not much different. Add the car, add the loan balance :|
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unclescrooge
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Re: Personal Capital - Net Worth?

Post by unclescrooge » Tue Jul 18, 2017 4:50 pm

My biggest complaint with Personal Capital is keep saying I'm not diversified enough.

I'm a slice an dicer, so their assertion is ludicrous.

In actuality, I use CEFs and they're unable to accurately classify them, so my emergency fund is a big unknown.

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munemaker
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Re: Personal Capital - Net Worth?

Post by munemaker » Tue Jul 18, 2017 4:52 pm

bloom2708 wrote:
munemaker wrote: Why would you want to enter your vehicles? They depreciate quickly and don't have much value in the long run. Just ignore them as far as your net worth.
Many, many threads on this topic. A car is an asset that can be sold for cash quite easily. A $25k or $30k car without a loan should certainly be included in your net worth. :greedy

A $30k car with a $10k loan is not much different. Add the car, add the loan balance :|
So you are going to sell your car and go without one?

Maybe if you have a tiny portfolio and want to feel good about yourself, you might include vehicles. But you are just kidding yourself. Insignificant.

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munemaker
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Re: Personal Capital - Net Worth?

Post by munemaker » Tue Jul 18, 2017 4:56 pm

unclescrooge wrote:My biggest complaint with Personal Capital is keep saying I'm not diversified enough.

I'm a slice an dicer, so their assertion is ludicrous.

In actuality, I use CEFs and they're unable to accurately classify them, so my emergency fund is a big unknown.
They think you should have uncorrelated assets per modern portfolio theory. This includes (sometimes very small recommendations): US stocks/bonds, foreign stocks/bonds, US & foreign REITS, gold, precious metals, commodities, etc. Harry Markowitz is on their board, and I think he might have been the father of the Capital Asset Pricing Model and Modern Portfolio Theory. So it is just natural that they would push you toward broad diversification.

http://www.investopedia.com/terms/h/harrymarkowitz.asp

GMT-8
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Re: Personal Capital - Net Worth?

Post by GMT-8 » Tue Jul 18, 2017 5:02 pm

Whether or not you track value of cars, yachts, Monets, etc. depends on your style and their worth.
It's unkind to say cars are trivial to a car guy.

I've got 8 vehicles; 4 of them depreciating and 4 collectables increasing in value.
If I didn't consider them in my net worth I think I would also have to ignore roughly a million in other saleable assets.

It's fair to say they aren't investments that matter to an investment advisor, as he/she can't buy or sell them for a commission.
But they are not worthless per se. And they represent a different asset allocation.

On the other hand I wouldn't give a third party any of my logins or account numbers. Not even Vanguard. I'm astonished people do that.

Just my 2 cents.

GMT-8

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munemaker
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Re: Personal Capital - Net Worth?

Post by munemaker » Tue Jul 18, 2017 5:09 pm

GMT-8 wrote:Whether or not you track value of cars, yachts, Monets, etc. depends on your style and their worth.
It's unkind to say cars are trivial to a car guy.

I've got 8 vehicles; 4 of them depreciating and 4 collectables increasing in value.
If I didn't consider them in my net worth I think I would also have to ignore roughly a million in other saleable assets.

It's fair to say they aren't investments that matter to an investment advisor, as he/she can't buy or sell them for a commission.
But they are not worthless per se. And they represent a different asset allocation.

On the other hand I wouldn't give a third party any of my logins or account numbers. Not even Vanguard. I'm astonished people do that.

Just my 2 cents.

GMT-8
I would agree that collectible cars are in a different category and should be considered. I am talking about cars people drive for transportation and depreciate quickly.

aceoperations
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Re: Personal Capital - Net Worth?

Post by aceoperations » Tue Jul 18, 2017 5:15 pm

I used to have a Personal Capital account for viewing my portfolio. Then, they keep calling me to offer financial "advice" and have one of their "experts" look over my portfolio. They said, "It can't hurt to have someone look over it, just to see if you're missing something, right?" I deleted my account with them. No more calls. :mrgreen:

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CyclingDuo
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Re: Personal Capital - Net Worth?

Post by CyclingDuo » Tue Jul 18, 2017 5:42 pm

munemaker wrote:
GMT-8 wrote:Whether or not you track value of cars, yachts, Monets, etc. depends on your style and their worth.
It's unkind to say cars are trivial to a car guy.

I've got 8 vehicles; 4 of them depreciating and 4 collectables increasing in value.
If I didn't consider them in my net worth I think I would also have to ignore roughly a million in other saleable assets.

It's fair to say they aren't investments that matter to an investment advisor, as he/she can't buy or sell them for a commission.
But they are not worthless per se. And they represent a different asset allocation.

On the other hand I wouldn't give a third party any of my logins or account numbers. Not even Vanguard. I'm astonished people do that.

Just my 2 cents.

GMT-8
I would agree that collectible cars are in a different category and should be considered. I am talking about cars people drive for transportation and depreciate quickly.
At the end of owning a car, you usually sell it. Adjusting the value in one's Net Worth as it depreciates is typical. We just sold one older car for $5500, another for $5000, and one is going on the block where we hope to get $4K to $4500 for it. That's real cash that you may or may not want to track in your own personal NW, but many of us have a different opinion about it. When it comes to estates and settlement, it matters.

If we want to only track the portfolio, cash and debts - that's fine as well. Typical though is to include all assets, cash, investments, real estate, debt/liability to get the value (which is constantly adjusting as things depreciate, and other things appreciate).
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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munemaker
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Re: Personal Capital - Net Worth?

Post by munemaker » Tue Jul 18, 2017 5:58 pm

CyclingDuo wrote:
munemaker wrote:
GMT-8 wrote:Whether or not you track value of cars, yachts, Monets, etc. depends on your style and their worth.
It's unkind to say cars are trivial to a car guy.

I've got 8 vehicles; 4 of them depreciating and 4 collectables increasing in value.
If I didn't consider them in my net worth I think I would also have to ignore roughly a million in other saleable assets.

It's fair to say they aren't investments that matter to an investment advisor, as he/she can't buy or sell them for a commission.
But they are not worthless per se. And they represent a different asset allocation.

On the other hand I wouldn't give a third party any of my logins or account numbers. Not even Vanguard. I'm astonished people do that.

Just my 2 cents.

GMT-8
I would agree that collectible cars are in a different category and should be considered. I am talking about cars people drive for transportation and depreciate quickly.
At the end of owning a car, you usually sell it. Adjusting the value in one's Net Worth as it depreciates is typical. We just sold one older car for $5500, another for $5000, and one is going on the block where we hope to get $4K to $4500 for it. That's real cash that you may or may not want to track in your own personal NW, but many of us have a different opinion about it. When it comes to estates and settlement, it matters.

If we want to only track the portfolio, cash and debts - that's fine as well. Typical though is to include all assets, cash, investments, real estate, debt/liability to get the value (which is constantly adjusting as things depreciate, and other things appreciate).
So do you track your furniture too? Your flat panel TV? Your home theater system? Your fine China and silverwear? Your crystal glasswear?

When you sold those cars, you likely bought replacements. So you cycle through buying a $30,000 car and selling it for $5,000 some years later, and make some guesstimate every year of what it may be worth. It would be such a small fraction of my net worth, it is negligible to track. To each, their own, I guess.

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CyclingDuo
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Re: Personal Capital - Net Worth?

Post by CyclingDuo » Tue Jul 18, 2017 8:34 pm

munemaker wrote:So do you track your furniture too? Your flat panel TV? Your home theater system? Your fine China and silverwear? Your crystal glasswear?

When you sold those cars, you likely bought replacements. So you cycle through buying a $30,000 car and selling it for $5,000 some years later, and make some guesstimate every year of what it may be worth. It would be such a small fraction of my net worth, it is negligible to track. To each, their own, I guess.
Even if our current vehicles added together equal a small percentage of net worth, it is pretty standard practice to include vehicles in net worth calculations.

From this thread and others like it at Bogleheads.org, there are most likely several ways - all of which include a myriad of debating and opining on the correct or incorrect way - to calculate one's net worth.

A few examples:

http://www.kiplinger.com/article/saving ... worth.html

http://www.investopedia.com/university/ ... e-vertical

http://planning.flagstar.com/page.php?b ... 0-0&c=1448

http://www.thesimpledollar.com/how-to-c ... net-worth/

We mentioned in another thread why we keep track of most of our belongings. We were hit by a tornado in 2010 and when the insurance company wants to know what you owned before the twister hit, we found out the hard way that it is very important to have a detailed, itemized list if you want replacement compensation for all the things that were blown away or damaged. Since then, absolutely everything is on a list, and stored in a safe digital place online. Until you've been through such an experience (be it flood, fire, hurricane, tornado, etc...), feel free to do whatever works for you. We'll keep our vehicles in our calculation. :mrgreen:

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unclescrooge
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Re: Personal Capital - Net Worth?

Post by unclescrooge » Tue Jul 18, 2017 8:38 pm

munemaker wrote:
unclescrooge wrote:My biggest complaint with Personal Capital is keep saying I'm not diversified enough.

I'm a slice an dicer, so their assertion is ludicrous.

In actuality, I use CEFs and they're unable to accurately classify them, so my emergency fund is a big unknown.
They think you should have uncorrelated assets per modern portfolio theory. This includes (sometimes very small recommendations): US stocks/bonds, foreign stocks/bonds, US & foreign REITS, gold, precious metals, commodities, etc. Harry Markowitz is on their board, and I think he might have been the father of the Capital Asset Pricing Model and Modern Portfolio Theory. So it is just natural that they would push you toward broad diversification.

http://www.investopedia.com/terms/h/harrymarkowitz.asp
That is absolutely correct.

And it also accurately represents my portfolio.

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