Here are the Top 10 Best Financial Resources to Build Wealth

If you want to build wealth quickly and effectively, you need the best personal finance resources for the job.

If you are new here, you stumbled on the best website that helps the average American live happily and wealthy. The Neighborhood Finance Guy is a powerful resource. We cover financial literacy topics, financial planning, Budgeting, Cash Management, Investing Strategies, and much more.

We have over 400 blog posts and resources to prove it. Especially helpful for first-generation wealth builders. These resources scale from beginners making less than $40,000 per year to families making as much as $250,000 per year. I can tell you right now, if you part of the top 10% of earners, you might want to skip to the point where you hire a financial team. That team needs a certified public accountant, CPA for your taxes, a Lawyer, and a certified financial planner, CFP.

Table of Contents

Picking the Right Wealth Tools for the Job

Mastering Personal finance transforms people into millionaires and then multi-millionaires. I used to think it was difficult however it is only difficult at the very beginning. Here are some of the most powerful personal finance resources known for helping people set budgets, make plans, tackle goals, enjoy travel, and make memories; all while becoming automatically wealthy.

To help contextualize these resources, please read the summaries.

TNFG’s Best Personal Finance Resources for Beginners:

Mint.com by Intuit LLC
Investment Calculator by Calculator.net
Personal Capital by Empower Company – $20 for $20 Referral Link
M1 Finance – $10 for $10 Referral Link
Portfolio Visualizer
Financial Independence / Retire Early (FIRE) Calculator
ETF.com
Federal Income Tax Calculator by SmartAsset
MarketWatch or CNBC for quick business news
SSA.gov by the US Federal Govt.

Making Money, Make More Sense With these Personal Finance Resources

There’s never been a better time to learn something new about money. Unfortunately, most Americans are working backward. They are spending more, saving less, and doing it all on credit for social media aka the modern Jones.

The Neighborhood Finance Guy's Top Ten Personal Finances Resources to Help You Get Your Wealth Journey Started. Knowledge is Truly Power.

To avoid a lifetime of indebtedness, you would be better served understanding how to structure your money beyond merely spending it. Instead, see how your time and money can create more money for you to spend and live off of, for the rest of your life.

These resources can help you at different stages of your life and for every money goal, whether you want to retire early, build wealth for the long term, start conversations about money with your family, or just see money from a different point of view.

1. Mint.com by Intuit LLC – Makers of Turbotax

Mint is an exceptional personal finance service that has won multiple awards. Connect to all of your online financial accounts: set a budget, review your credit score, and estimate your net worth. I’ve been using it since 2012.

It works well for beginners and helps you get your head out of the sand.

Track your spending: Mint allows you to track all of your spending, including cash, credit cards, and investments. This can help you identify areas where you can cut back on spending.
Budget: Mint can help you create a budget and stick to it. It provides you with a detailed overview of your income and expenses and then helps you allocate your money to different categories.
Investments: Mint can help you track your investments and make sure you are on track to reach your financial goals. It also offers a variety of investment tools and resources to help you make informed investment decisions.
Bill payment reminders: Mint can help you avoid late fees and penalties by sending you reminders when bills are due.
Credit score: Mint can help you monitor your credit score and identify any areas where you can improve your credit score.

2. Investment Calculator by Calculator.net

Investing is the act of using money to make more money. The Investment Calculator can help determine one of many different variables concerning investments with a fixed rate of return. It’s one of the most powerful calculators out there. I visit this site when helping out clients or verifying investment opportunities. You can calculate the End Amount which is the most common or even investment length.

Here are more reasons to invest:

Helps you outpace inflation. Inflation is the rate at which prices for goods and services increase over time. If you do not invest your money, it will lose value over time due to inflation. Investing can help you keep up with inflation and maintain the value of your money.
Provides you with income. When you invest in certain assets, such as stocks or bonds, you can earn income from those assets. This income can be helpful in covering your expenses or providing you with a cushion in case of an emergency.
Helps you reach your financial goals. Whether you are saving for retirement, a down payment on a house, or your child’s education, investing can help you reach your financial goals faster.

3. Empower, formally known as Personal Capital by Empower Company

Personal Capital is a financial technology company that offers online financial tools and services. The company was founded in 2009 by Joe Duran, and it is headquartered in Redwood Shores, California. Personal Capital has over 2 million users, and it has been praised by financial media outlets such as The Wall Street Journal, Forbes, and The New York Times.

The company has also been recognized by industry awards such as the Fintech Breakthrough Awards and the American Business Awards.

Personal Capital offers a variety of products and services, including:

Dashboard: A free online tool that provides users with a comprehensive view of their finances, including their investments, retirement planning, and debt management.
Investment Management: A fee-based investment management service that offers users access to a team of investment advisors.
Retirement Planning: A fee-based retirement planning service that helps users create and manage a retirement plan.
Cash Management: A free online savings account that offers users a high-interest rate and FDIC insurance up to $1.25 million.

4. M1 Finance for Investing and Auto Allocations

M1 Finance is a financial technology company that offers a robo-advisory investment platform with brokerage accounts, digital checking accounts, and lines of credit. The company was founded in 2015 by Brian Barnes, and it is headquartered in Chicago, Illinois.

It has been praised for its innovative platform and its low fees. The company has been featured in The Wall Street Journal, Forbes, and The New York Times. M1 Finance has also been awarded the Best Robo-Advisor for 2022 by The Financial Times.

M1 Finance offers a variety of features, including:

Automated investing: M1 Finance allows users to create portfolios of stocks, ETFs, and bonds, and then automatically invest their money according to their risk tolerance and investment goals.
Borrowing: M1 Finance allows users to borrow money against their investments at low-interest rates.
Spending: M1 Finance offers a digital checking account that allows users to spend their money and earn interest on their deposits.

5. Portfolio Visualizer – Can’t Say no to free resources!

Portfolio Visualizer is a free online tool that allows you to analyze your investment portfolios. You can use it to track your performance, compare your portfolio to other portfolios, and identify areas where you can improve.

The Portfolio Visualizer modules offer a variety of features, including:

Backtesting: You can backtest your portfolio to see how it would have performed in different market conditions.
Factor analysis: You can use factor analysis to decompose your portfolio into its component parts. This can help you understand how your portfolio is performing and identify areas where you can improve.
Asset analytics: You can use asset analytics to find funds based on asset class, style, and risk-adjusted performance, and analyze asset correlations.
Monte Carlo Simulation: You can use Monte Carlo simulation to see how your portfolio would perform under different economic conditions.
Portfolio optimization: You can use portfolio optimization to find the optimal allocation of assets in your portfolio.
Timing Models: You can use timing models to predict when to buy and sell assets in your portfolio.

6. Financial Independence Retire Early (FIRE) Calculator

Financial Independence / Retire Early (FIRE) is a personal finance milestone where you have accumulated enough assets that the returns on your investments are enough to cover your cost of living. Once you have reached FIRE, you can live off the returns from your investments indefinitely and you have the freedom to spend your time however you like, without the need to work for income.

You don’t have to wait until the conventional retirement age to gain complete freedom over your time. Adjust the inputs on this calculator to see how soon you can reach FIRE and how much you need to accumulate to reach this milestone.

Your FIRE number is the amount of money you need to have invested such that the returns from your investments are enough to cover your ongoing living expenses. This number is based only on your estimated annual spending in retirement and your Safe Withdrawal Rate (SWR):

FIRE number = (annual spending) / SWR

7. ETF.com – multiple stock resources rolled into one

ETF.com is the leading authority on ETF news, data, and analysis. It’s one of my go-to resources when explaining what ETFs are.

They provide diverse, fact-based analyses on ETFs and the current financial markets.

It’s an educational tool for investors looking to make informed decisions with the goal of achieving better investment outcomes for themselves.

8. Federal Income Tax Calculator by SmartAsset

SmartAsset is a financial technology company founded in 2012 by Michael Carvin and Phillip Camilleri. The company’s mission is to “empower people to make smart financial decisions.” It provides free, automated, and personalized tools to help consumers make decisions about personal finance, including home buying, retirement, taxes, life insurance, student loans, investing, and credit cards.

SmartAsset’s tools include:

Financial calculators: These calculators can help consumers estimate their monthly mortgage payments, retirement savings, and more.
Articles and guides: SmartAsset’s articles and guides provide information on a variety of personal finance topics, including home buying, retirement, and taxes.
Reviews: SmartAsset reviews financial products and services, such as banks, credit cards, and investment firms.
A marketplace: SmartAsset’s marketplace connects consumers with financial advisors.

9. For Business News and other resources, Try MarketWatch, CNBC, or MarketBeat

MarketWatch is a popular destination for financial information and advice. The website has over 20 million unique visitors per month. If you need to shift to financial understanding, you have to keep up with the financial news. This site and many others provide real-time stock market quotes, financial news, and analysis.

MarketWatch offers a variety of features, including:

Real-time stock market quotes
Financial news
Analysis
Stock market data
Personal finance advice
Investing tips
Retirement planning tools
Mortgage calculators
Credit card calculators
Car loan calculators
Student loan calculators

10. SSA.gov – Checking out Multiple Resources

SSA’s website provides information about the programs it administers, as well as how to apply for benefits.

Personally, I review my estimated social security benefits annually.

Retirement benefits are paid to individuals who have reached full retirement age.
Disability benefits are paid to individuals who are unable to work due to a medical condition.
Survivor benefits are paid to the families of deceased workers. Survivors of workers who have died may be eligible for benefits, including children, spouses, and ex-spouses.
Supplemental Security Income (SSI): SSI is a program that provides cash assistance to low-income individuals and families. To be eligible for SSI, you must have limited income and resources.

Disclosure: This post is brought to you by the Neighborhood Finance Guy. We highlight financial literacy information, resources, and more on your way to money management goals and personal wealth. Our goal is to help you make S.M.A.R.T decisions with our money. We do not give investment advice or encourage you to adopt a certain investment strategy. Your personal finance is up to you. If you take action based on one of our recommendations, we earned $200 in ads as of 5.2022. We operate independently.

Receive a selection of my favorite finds every week by subscribing to the newsletter. Make the Neighborhood Finance Guy website your trusted source for great content that will audit your life and rebalance your happiness and wealth.