Daily Capital

The People Behind Our Tools: Q&A with a Maker of the Savings Planner

We’re pleased to introduce the people who have worked to create some of our most important tools. Today, we’re digging into the Savings Planner.

The Savings Planner is designed to be your complete savings solution by helping you plan your annual retirement savings, build up your emergency fund, and progress towards paying down debt.

Want a clear view of your retirement?

Following is a Q&A with one of the creators of our Savings Planner tools.

Jeff Carey for the Savings Planner


Jeff Carey in his home office

Meet Jeff, a Personal Capital technology lead who helped develop the Savings Planner. The Savings Planner is an efficient savings solution, but we wanted to know what that means for Personal Capital users.

Q: What’s the benefit of using a dedicated savings tool?

With the pace of life these days, it can be difficult and time consuming to make sure you are saving money effectively. Knowing where you stand is the first step to meeting this challenge. We built the Savings Planner to solve this problem.

You can see how much you’re saving right now, and compare that to how much you should be saving.

For our wealth management clients, we offer further guidance on how to optimize where you save your money.

Q: How does the Savings Planner perform these assessments?

It does this by tracking three main areas: long-term savings, short-term emergency fund, and debt.

  • For long-term savings, you can track yearly savings in investment accounts, such as retirement accounts or education accounts such as 529s.
  • For your emergency fund, we help you determine whether you have enough cash on hand to last six months based on your actual spending patterns.
  • For debt paydown, you can see your progress as you pay off student loans, a mortgage, or credit card debt.

Q: Any final thoughts?

I enjoyed being part of the team that built the Savings Planner, and I continue to find it valuable in my personal use. I hope you find it useful in reaching your savings goals!

Get Started with the Savings Planner

  1. Sign up for our free financial tools, where you can access the Savings Planner. You can also use tools like the fee analyzer to see if you are losing money by paying excess investment fees.
  2. Review your Savings Plan so you can make course corrections if needed.
  3. Consult with a fiduciary financial advisor who can help you analyze your savings, identify areas for improvement, and help you plan for a comfortable retirement.

 

Get Your Free Tools Today

Advisory services are offered for a fee by Personal Capital Advisors Corporation (“PCAC”), a registered investment adviser with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. PCAC is a wholly owned subsidiary of Personal Capital Corporation (“PCC”), an Empower company. PCC is a wholly owned subsidiary of Empower Holdings, LLC.© 2020 Personal Capital Corporation. All rights reserved.

The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.

Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.

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