# Empower Review: Is This the Best Free Financial Planning Tool?

Wondering if Empower is the right tool to help you track your net worth, budget, and investments? This Empower Review will break down everything you need to know. Keeping track of your money can feel overwhelming, especially when you have multiple bank accounts, credit cards, and investments. That’s why I love using financial tools and money apps that help simplify the process. One of the best free sites for managing your finances in one place is Empower (formerly called Personal Capital).

**My Empower Review**

Below you will learn what I think about this popular financial planning tool.

**What is Empower?**

Empower is a financial services company that provides the free Empower Personal Dashboard financial tracking tool and helps over 18 million people. Whether you’re saving for your honeymoon or for retirement, Empower can help you save smarter and spend better. The platform gives you a complete financial snapshot by allowing you to link all of your bank accounts, credit cards, loans, and investment accounts in one place.

Empower is best for:
– People who want to track their net worth without spreadsheets.
– Budgeters who want to see where their money is going.
– Investors who want to analyze fees and portfolio performance.
– Anyone planning for retirement and looking for projections based on real data.

Empower also provides wealth management services, which is a paid financial advising service for users with over $100,000 in investable assets. However, you don’t have to sign up for that to take advantage of their free tools.

**Pros and Cons of Empower**

Pros:
– Free to use for tracking net worth and spending.
– Great for investment and retirement planning.
– Helps identify hidden fees in your investments.
– Easy-to-use dashboard with helpful images to see how you’re doing.

Cons:
– Financial advisors from Empower may reach out if you link more than $100K in assets.
– Budgeting tool isn’t as detailed as other apps.
– Some people may not feel comfortable linking their accounts.

## Frequently Asked Questions About Empower

**Is Empower safe to use?**
Yes! Empower uses bank-level encryption and two-factor authentication to keep your data secure. They can’t move your money – they just track it. I have personally connected and added my own information to the Empower dashboard, so I do trust it.

**Does Empower cost money?**
The financial dashboard is 100% free. If you choose their wealth management service, there is a fee. I personally choose to not pay as I don’t use their wealth management service.

**Is Empower a good app?**
Yes, it’s one of the best free financial tracking tools available. Many users (including myself) love it for its net worth tracking and other features.

**What are some common Empower complaints?**
Some users don’t like that Empower advisors reach out to upsell wealth management services if you link over $100K. Also, people who want more out of a budgeting tool may think it’s too basic, such as when compared to tools like YNAB.

**Did Empower used to be called Personal Capital? Why the change?**
Yes! Empower acquired Personal Capital in 2020 and rebranded to be under one name.

## Conclusion

I hope you enjoyed my Empower Review. If you’re looking for a free, easy way to track your finances, then you may want to try Empower. Even if you don’t have a large portfolio, the budgeting, net worth tracking, and retirement planning tools can be really helpful. Personally, I love that I can see all my finances in one place without having to manually enter data. It’s a great tool for staying on top of your money and making smarter financial decisions. Have you used Empower? Do you prefer to use an Excel sheet to manage your finances, or do you think a tool is better?

Note: To protect my privacy, the images in this Empower Review are not mine – they were all provided by Empower.