Keeping track of your full financial picture is no small task. There are a lot of moving parts. You set up a budget, track your expenses, and then review. Plus, you make investment decisions and monitor your net worth. In this Empower review, we explore one platform that can help you do it all–or at least get really close!
Empower is the new name for a personal finance favorite: Personal Capital. It's been a long-time favorite in the personal finance community. It's time to find out why!
In this Empower review, we take a deep dive into everything Empower offers, especially now that it has a fresh facelift. Explore how Empower works and then discover the various tools within it that can help you build wealth for free by focusing on your finances today and your future goals.
If you’re looking for a free way to track your net worth, investments, and overall financial picture, Empower is one of the most popular tools out there.
Formerly known as Personal Capital, Empower has been a go-to platform for millions of users who want a clear view of their money without paying a monthly fee.
I personally used Empower for nearly a decade as my wife and I grew our net worth from -$50,000 to over $1 million. During that time, it became one of the most important tools in our financial journey.
But in 2026, things have changed.
The tool hasn’t evolved much over the past few years, and it’s starting to show. The experience feels dated, and newer apps like Monarch Money and Boldin have clearly raised the bar when it comes to usability and features.
So is Empower still worth using today?
In this Empower review, I’ll walk through what it does really well, where it falls short, and whether it’s still the best free net worth tracker available.
Empower Review (2026): Quick Verdict
- Best for: Free net worth tracking and investment analysis
- Not great for: Budgeting or modern user experience
- Cost: Free with optional advisory services
My take:
Empower is still the best free net worth tracker available today. But if you are willing to pay for a better experience, tools like Monarch Money are a noticeable step up.
What Is Empower?
Empower is a free financial dashboard that allows you to connect all of your accounts in one place so you can see your entire financial life at a glance.
Once everything is connected, you can track your net worth, monitor your investments, review your spending, and analyze your cash flow without needing multiple apps or spreadsheets.
While it often gets compared to budgeting tools, that is not really where Empower stands out. Its biggest strength is giving you a clear, big-picture view of your finances, especially when it comes to your investments and long-term progress.
Why I Used Empower for 9 Years
For nearly 9 years, Empower was my go-to financial dashboard.
During that time, my wife and I went from a negative net worth of $50,000 to becoming millionaires. Having one place to see everything made a huge difference in how we approached our money.
👉 Read our full story here: https://marriagekidsandmoney.com/podcast/become-young-millionaire-in-10-years/
Here’s a look at our actual net worth growth over nearly a decade using Empower (with sensitive details removed):
What made this so powerful wasn’t that Empower told us what to do. It didn’t.
It simply showed us the full picture.
That clarity changed everything. Instead of guessing how we were doing, we could see our progress month after month. Even in the early years, when the growth was slower, that visibility kept us motivated and consistent.
Over time, those small gains compounded into something meaningful.
That’s where Empower still shines today. If you want a simple, free way to track your net worth and stay motivated on your financial journey, it’s hard to beat.
What’s Changed Since Personal Capital Became Empower
This is where things start to get a bit frustrating.
Since the transition from Personal Capital to Empower, the platform feels like it has shifted priorities. The free tools are still there, but the overall experience now feels more focused on converting users into advisory clients.
There are also some noticeable usability issues.
The login process is clunky and often redirects you across different domains before you can access your account. The app naming is confusing as well, with variations like Empower, Empower Personal Dashboard, and Empower RET floating around.
On top of that, the dashboard increasingly nudges you toward meeting with a financial advisor, even if that was never your intention when signing up.
My take:
It feels like the free product is no longer the main focus. It still works, but it has not kept up with newer tools that are investing heavily in user experience and innovation.
Empower Free Tools (What It Does Well)
Even with those frustrations, Empower still delivers real value in a few key areas.
Net Worth Tracker
This is the reason most people use Empower, and it is still the best feature in the platform.
Once your accounts are connected, Empower automatically calculates your net worth and updates it in real time. Instead of juggling spreadsheets or logging into multiple accounts, you get a clean snapshot of your financial progress in one place.
For beginners especially, this is incredibly powerful. It turns something abstract into something you can actually see and track over time.
Investment Checkup
Empower’s investment tools are still some of the strongest free tools available.
You can review your asset allocation, analyze your diversification, and identify fees that might be eating into your returns. For a free platform, this level of insight is impressive.
This is one area where Empower still competes well, even against paid tools.
Budgeting and Cash Flow
Empower does offer budgeting and cash flow tracking, but this is where it starts to fall behind.
It can categorize your transactions and show you where your money is going, which is helpful at a basic level. You can quickly see spending by category and get a sense of your monthly habits without much setup.
Here’s what the budgeting dashboard looks like inside Empower:
It gets the job done for tracking spending, but it lacks the flexibility and user experience you’ll find in more modern tools.
If budgeting is your main priority, tools like Monarch Money or YNAB offer a much more robust and customizable experience.
Savings and Retirement Planning
Empower also includes tools to help you project your retirement readiness and future income.
These features can give you a rough idea of whether you are on track, which is helpful. But they are not as flexible or intuitive as newer planning tools on the market.
Pros and Cons
Pros
- Completely free to use
- Excellent net worth tracking
- Strong investment analysis tools
- Great starting point for beginners
- Syncs most financial accounts
Cons
- Outdated user experience
- Confusing login and app structure
- Weak budgeting tools
- Frequent push toward advisory services
- Limited innovation in recent years
Empower vs Monarch vs YNAB vs Boldin
| Tool | Best For | Cost | Strength | Learn More |
|---|---|---|---|---|
| Empower | Net worth tracking | Free | Investments | This Review |
| Monarch | All-in-one money management | Paid | UX and budgeting | See Review |
| YNAB | Budgeting system | Paid | Control | See Review |
| Boldin | Financial planning | Free and paid | Projections | See Review |
Empower vs Monarch Money
Using Empower is free and it offers strong investment tracking.
Monarch, on the other hand, is a paid tool but delivers a much better overall experience. The dashboard is cleaner, the budgeting tools are more powerful, and the platform feels modern and easy to use.
My take:
If you are serious about managing your money long term, Monarch is worth paying for. It is the tool I personally use today.
Empower vs YNAB
YNAB is built for people who want total control over their budget.
👉 Read our YNAB review: https://marriagekidsandmoney.com/ynab-review
Empower is built for tracking your overall financial picture.
If your goal is detailed budgeting, YNAB is the better choice. If you want to see everything in one place, Empower is more useful.
Empower vs Boldin
Boldin focuses on long-term planning and projections.
👉 Read our Boldin review: https://marriagekidsandmoney.com/boldin-review/
It helps you answer bigger questions about your financial future, like when you can retire or how different scenarios impact your plan.
Empower is better for tracking where you are today. Boldin is better for planning where you are going.
Is Empower Worth It in 2026?
Yes, but it depends on what you are looking for.
If you want a completely free tool to track your net worth and investments, Empower is still one of the best options available.
But if you are expecting a modern, polished experience with strong budgeting features, you will likely feel the gaps pretty quickly.
My Recommendation
If your top priority is using a free tool, Empower is still a solid choice and a great place to start.
But if you are ready to upgrade your financial life and want a better overall experience, I recommend Monarch Money.
It is what I personally use today, and it is a noticeable improvement in usability, design, and day-to-day functionality.
FAQ
Is Empower really free?
Yes. All of the core tools are free. Empower makes money by offering optional advisory services.
Is Empower safe to use?
Yes. Empower uses bank-level encryption and security protocols to protect your data.
Do I have to link my accounts?
Yes. Empower requires you to link your financial accounts for the dashboard to work properly.
Is Empower good for beginners?
Yes. It is one of the easiest ways to start tracking your net worth and understanding your finances.
Why did Personal Capital become Empower?
Personal Capital was acquired and rebranded as Empower as part of a broader financial services platform.
Does Empower still call users about advisory services?
Some users do receive outreach, especially as their assets grow, but you can decline and continue using the free tools.
What is the best alternative to Empower?
Monarch Money is the best overall alternative. Boldin is a strong option for planning and projections.What is Empower?
Leave a Reply