If tracking your net worth feels like it should be free, Empower agrees. Formerly known as Personal Capital, Empower has long been the standout free option for users who want comprehensive net worth visibility, investment tracking, and retirement planning in a single platform. With the budgeting app landscape shifting and many former Mint users searching for replacements, Empower has become a go-to recommendation. Is it actually the best free app for tracking net worth? After thorough use, here is the complete review.
This post focuses specifically on Empower's net worth tracking capabilities — what it does well, what it lacks, and how to get the most from it.
What Empower Is
Empower is a free personal finance app that aggregates all your accounts to deliver a comprehensive financial dashboard. Its strongest feature is net worth tracking, supported by investment monitoring, retirement planning, and basic budgeting.
Core Features Relevant to Net Worth
Free account aggregation across all types
Real-time net worth calculation
Historical net worth charts
Real estate and vehicle valuation
Investment account tracking
Asset allocation analysis
Net worth goal tracking
Cost
Free for budgeting, tracking, and planning tools. Optional paid wealth management services for users with significant assets.
What Empower Does Well for Net Worth
Free Comprehensive Aggregation
Links bank accounts, credit cards, investment accounts, retirement accounts, mortgages, real estate, and more — all free.
Real-Time Net Worth
The dashboard updates as account balances change. Always see the current picture.
Historical Net Worth Charts
Visualize net worth trends over months, quarters, and years.
Multiple Asset Types
Includes real estate (with Zillow integration), vehicles, and other physical assets alongside financial accounts.
Asset Allocation Analysis
Reveals whether your portfolio is appropriately diversified.
Strong Retirement Planning
Projects retirement readiness based on net worth growth, savings, and contributions.
Where Empower Falls Short
Real Estate Valuation Limitations
Empower uses Zillow estimates. Take them with skepticism, especially in fast-moving markets.
Manual Asset Entries Need Updates
Vehicles and other manual assets need periodic value updates.
Less Detailed Budgeting
Budgeting is light compared to dedicated tools.
Sales Outreach for Higher-Asset Users
Users with significant assets may get contacted by Empower advisors. Some find this intrusive.
Who Should Use Empower for Net Worth
Wealth Builders
If you want to see your wealth grow over time, Empower's net worth tracking is unmatched among free tools.
Investment-Focused Users
If investments are a major part of your finances, Empower handles them better than most budgeting apps.
Retirement Planners
The retirement planner alongside net worth tracking is powerful.
Multi-Account Users
If you have many accounts, Empower aggregates them all.
Former Mint Users
The comprehensive view is closest to Mint's experience among free apps.
Who Should Skip Empower for Net Worth
Privacy-Focused Users
The sales outreach can feel intrusive.
Pure Budgeters
Go with YNAB or Monarch for daily budgeting.
Users With No Investments
The net worth tracking is still useful but less impactful without investment accounts.
How to Set Up Empower for Net Worth Tracking
Step 1: Link All Financial Accounts
Checking and savings
Credit cards (negative net worth contributors)
Brokerage accounts
Retirement accounts (401(k), IRA, Roth IRA)
HSA accounts
Loans (mortgage, student loans, auto loans)
Step 2: Add Real Estate
If you own property, add it manually with Zillow's suggested value. Verify the estimate quarterly.
Step 3: Add Vehicles
Add cars with their estimated values. Update annually as they depreciate.
Step 4: Add Other Assets
Collectibles, business equity, and significant possessions can be tracked manually.
Step 5: Review Net Worth Monthly
A monthly check-in reveals the trajectory. Long-term trends matter more than daily fluctuations.
Reading Your Net Worth Trends
What to Watch For
Steady upward trends (good)
Sudden drops (market volatility, large purchases)
Stagnation (lifestyle inflation eating savings)
Liability growth outpacing asset growth (warning sign)
Use the data to inform decisions, not panic about short-term fluctuations.
Empower vs Other Net Worth Tools
Empower vs Monarch
Monarch is paid but more polished for couples and budgeting. Empower is free with stronger investment tools.
Empower vs Kubera
Kubera handles unique asset types (crypto, art) better. Empower is free; Kubera is paid.
Empower vs YNAB
YNAB recently added net worth tracking but is primarily a budgeting app. Empower is the stronger pure net worth tool.
Empower vs Spreadsheets
A spreadsheet is free and customizable but lacks automatic aggregation. Empower wins on convenience.
Combining Empower With Other Apps
Most engaged users run Empower alongside a dedicated budgeting app.
Common Combinations
Empower + YNAB: Free net worth tracking plus methodology-driven budgeting
Empower + Monarch: Net worth depth plus polished budgeting
Empower + Goodbudget: Free everything
This stack costs $0–$110/year and covers nearly every need.
A Sample Empower Setup
Meet Pat, mid-career professional with significant savings and investments.
Pat's Setup
Linked checking, savings, credit cards
Linked 401(k), Roth IRA, brokerage, HSA
Manual entry for home (with Zillow estimate)
Manual entry for two vehicles
Monthly net worth review
Quarterly asset value updates
Net worth grew from $80,000 to $185,000 over three years. Visibility was a key motivator.
Common Empower Mistakes
Trusting Zillow Estimates Blindly
Real estate values vary widely. Use estimates as ballpark, not gospel.
Forgetting to Update Manual Assets
Vehicles and other manual entries need annual updates.
Obsessing Over Daily Fluctuations
Market-driven changes are noise. Focus on quarterly trends.
Engaging With Sales Outreach Reflexively
If an advisor contacts you and you do not want services, politely decline.
Privacy and Security
What Empower Does
Bank-level encryption
Read-only account access
Two-factor authentication
Strong privacy policies
Regulated as a financial advisor
Security is robust.
Beyond Net Worth: Other Useful Empower Features
Investment Fee Analyzer
Reveals hidden investment fees. Often saves users hundreds per year.
Retirement Planner
Projects whether you are on track for your target retirement.
Cash Flow Analysis
Light budgeting features that complement net worth tracking.
Asset Allocation
Visualizes diversification across asset classes.
All of these features come at no cost.
When Empower's Free Tier Is Enough
For most users, the free tier covers everything they need.
You Probably Do Not Need to Pay If
Your investments are below $100,000
You manage your own portfolio confidently
You use low-cost index funds
You do not need personalized financial advice
The managed services are niche. The free dashboard is the main product.
Conclusion: The Best Free Net Worth Tracker Available
Empower is the best free net worth tracking app available today. The combination of automatic aggregation, comprehensive asset support, historical charts, and retirement planning is unmatched among free tools. For wealth builders who want to see the big picture, Empower is essentially mandatory.
The budgeting features are not the strongest, but used alongside a dedicated budgeting app, Empower completes the financial dashboard.
Take action today. Sign up for Empower at no cost. Link all your accounts. Add manual entries for real estate and vehicles. Check your net worth. By the end of an hour, you will have a complete financial picture — for free.
