Poverty Consciousness to Wealth Consciousness

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Once a month I will be answering a question from my readers. Please submit your question to me by e-mail at fern@wholeheartedway.com. I will pick one each month to answer.

QuestionHow do I keep track of all the statements and accounts that I have?
Deb R.

AnswerAs a former Wealth Manager who oversaw the management of millions of dollars of individual and corporate accounts, I had access to very sophisticated software that tracked asset allocation, risk ratios, tax efficiency, fee expenses, weighted total returns and more. As an individual doing it yourself, I can understand that the task of keeping it all together is daunting to say the least. But there are many inexpensive on-line tools that can help you. It’s just a matter of picking the right one for your needs.

Some software will just keep track of your cash flow while others will integrate a portfolio, too. Below are a few tools that I have found:

  • www.QuickenOnline.com –  A tool that I use for my personal accounts. I also recommend QuickBooks for business accounts, but prepare for a steep learning curve.
  • www.mint.com – A tool to aggregate all of your accounts into reports that will tell you if you are on track or not.

If you have any experience with the above tools, I would love to hear from you about it.

Click here to see a special report on portfolio tracking tools. Subscribers will receive a free PDF of the report that they can download.

Coaching Question – How do you keep track of what you own?

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