Empower

Empower is a free personal finance dashboard for tracking wealth and planning retirement. It links your bank, investment, and loan accounts into one live view of your money. The retirement planner answers the big question of whether you are saving enough, and lets you test different saving ages and spending levels. You also get net worth tracking, portfolio fee analysis, and budgeting tools. Empower also sells paid wealth management for larger accounts, but the dashboard itself costs nothing. Check empower.com for current features and terms.

Key Features

1. Retirement Planner

Model different retirement ages and saving rates to see your odds of hitting your goals, including a recession simulator for stress tests.

2. Net Worth Tracking

Link checking, savings, investment, loan, and mortgage accounts to watch your total net worth update in one place.

3. Portfolio Fee Analyzer

The tool scans your investments for hidden fees and shows how much those costs could drag down your returns.

4. Asset Allocation Checkup

Investment Checkup compares your current portfolio mix to a target and flags when holdings drift off track.

5. Budgeting and Cash Flow

Track income and spending across all linked accounts to see where cash goes and where you can save more.

6. Savings Planner

Set goals for retirement, an emergency fund, and debt payoff, then watch progress toward each target over time.

Frequently Asked Questions (FAQ)

What is Empower used for?

Empower is used for wealth tracking and retirement planning. The free dashboard covers net worth tracking, portfolio analysis, budgeting, cash flow, and retirement scenario modeling.

Is the Empower dashboard really free?

Yes. The Personal Dashboard costs nothing to use. Empower makes money from a separate paid advisory service for accounts with $100,000 or more in investable assets.

Is Empower the same as Personal Capital?

Yes. Empower acquired Personal Capital, and the app was rebranded to Empower Personal Wealth. Existing users kept their free dashboard and features.

How does Empower make money if the dashboard is free?

Through Personal Strategy, its paid wealth management service. Qualifying clients pay an advisory fee for fiduciary advisors, portfolio management, and financial planning.

Does linking accounts move my money?

No. The dashboard only reads balances and transactions in real time. Your money stays exactly where it is at your banks and brokerages.

Who should use Empower?

People saving for retirement who want a full picture of their investments, fees, and net worth without spreadsheets. It suits savers more than day traders.

Conclusion

Empower fits savers who want a serious retirement planner without paying for one. Its dashboard tracks net worth, fees, and cash flow in one place. The recession simulator and scenario tools help you plan with confidence. Paid advisory is optional and only for larger accounts. If you want a clear view of your financial future, start with the dashboard.