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-Fern

How To Keep Track Of It All

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

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

Answer- As 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 online 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.Menvelopes.com- a tool that Financial Advisors have recommended for years.

www.wesabe.com- Lots of valuable information on how to save, reduce debt, and build wealth.

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.

Send your questions to me at fern@wholeheartedway.com and I will pick one a month to respond to.

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

News Flash! - I will be holding a FREE teleclass,

The 7 Steps to Creating Your Own Financial Plan on Wednesday, April 16th, 6 p.m. PDT. Email me (fern@wholeheartedway.com) with teleclass in the subject line to register and you will receive the call in number.

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Fern respects your privacy and DOES NOT give out or sell subscribers' names and/or e-mail addresses. August 2007-- this column is produced by Whole-Hearted-Way and provided by Fern Alix LaRocca CFP® EA