Are you wondering how financial planning tools can help you build your wealth? Then wonder no more. In this post, we’ve compared one of the most popular money managing tools Intuit Mint with our own personal finance software and Internet hosted product GrowthAdvisor.
But instead of doing a head-to-head comparison, we decided to go a different route. Here is why.
Normally, you’d compare your options and pick the best one.
But we want to show you how each of these tools can complement the other. For example, GrowthAdvisor will help you make more money from your Employee Stock Options. Think of GrowthAdvisor as a career- and wealth-builder. On the other hand, Mint will help you with budgeting and tracking your savings and investments.
With that said, let’s get started.
Intuit Mint is one of the best personal finance software that offers web-based personal financial management services for the USA and Canada. As of this writing, it has over 20 million users. Wow. That’s a lot of people.
We think it’s for these four reasons:
Intuit Mint offers great money managing features:
This is Intuit Mint’s best feature. Once you set up your budgets, it tracks them automatically. It also learns how you spend your money and categorizes your transactions accordingly. You can use pre-defined categories or create your own.
Another great feature that’s very useful. Never miss a bill! You can track all your bills in Intuit Mint. And, you can also set up reminders and get warnings when your balance is low. You can’t pay bills from Intuit Mint, though. And that’s a bummer. It’d be golden if you could.
Got the financial goals you want to hit? Presto. You can set them all up in here on one page. It can be short-term goals or long-term goals. And you can even add pictures to them—like a photo of a beach with swaying palms—to motivate yourself to save faster.
You can see charts and graphs of all your investments, but you can’t manage them from here. To compensate for this, Intuit Mint also gives you tips on how to manage your investments better. Some of these tips are very useful, like how to avoid hidden fees and how to work around them.
It’s a great way to see all your money at a glance in a single report. You can get reports on your income, spending, assets, debt, net worth, and more. You can organize the reports by category, time period, merchant or tag. And you can see your trends—how much and where you tend to spend the most. Very helpful.
This is a great feature to help you build your credit history. The credit score tracking service is free and updated monthly. Or as often as your credit score changes. The data is taken from Transunion.
Email or text alerts are the best. You can customize them and get notified about your account summaries, unusual activity, and low balances, or get bill reminders. Alerts give you peace of mind.
As you can see, Intuit Mint offers some great features. And did we mention it’s free?
But if you use only Intuit Mint, eventually you’ll hit a ceiling. Once you start investing, or if you get a job that offers Employee Stock Options, Intuit Mint alone won’t be enough.
That’s where GrowthAdvisor comes in.
GrowthAdvisor picks up where Intuit Mint leaves off.
At the end of this post, we’ll get to the similarities and the differences between both products. And we’ll show you how both can help you grow your money.
But before we get to that good stuff, let’s take a look at GrowthAdvisor.
GrowthAdvisor launched its Internet hosted product in 2019. Our product predicts the cash value of your stock options for up to 10 years from today. That’s like traveling into the future and learning the number of your winning lottery ticket. How incredible is that? We think so too.
Our mission is to educate and empower employees like you to help you grow your career, your company, or your wealth.
Since our launch, we’ve grown impressively in a short period of time.
We think it’s for these five reasons:
GrowthAdvisor offers unique features that no other financial management service on the market offers at the moment (we’re very proud of this fact):
You can browse 800,000+ companies to see which companies offer the best Employee Stock Options packages (and from the biggest options pool). This will help you minimize the risk and maximize the gains. And in the long run, it will help you build your wealth.
Know when and how to negotiate a better Employee Stock Options offer. We help you get more from what you have now (your current position), or get more from a new job offer (if you get one). With our Wealth Guide you’ll never miss an opportunity to make the smartest career move, and then some.
Map out your entire career, down to the month. Know when to switch jobs (if it’s smart to switch jobs) to get the most gains from your Employee Stock Options.
We think we’re the winning choice for you. Why? Because we offer unique features that no other tool on the market offers. Here is why it’s important.
With our product, you get access to the best-performing companies’ data: potential profitability, exit scenarios, and value growth. You can use this data to get better job offers, negotiate more Employee Stock Options, and know exactly when to exercise your options to get the biggest gains. That’s huge. And it can supercharge your wealth growth.
You can also access data on salaries, the number of shares, revenue, and equity growth trends. Of any company. That’s right. That’s data from any company from a list of over 800,000 that we’ve analyzed. And we’re adding new companies every day.
Imagine what you can do with this information.
Not only will you know what your Employee Stock Options are worth today, but you’ll also know what they’ll be worth in two, three, or even ten years from now. And how to make more money with your Employee Stock Options.
In short, GrowthAdvisor is your new powerful career navigator.
Let us illustrate with our Snowball Technique.
When you were little, you probably heard a story about a kid who made a huge snowball and then rolled it down a hill to make it even bigger. As it rolled down, that snowball doubled in size every 100 feet or so. Heck, maybe you even tried to roll your own. It was exciting to watch it grow, wasn’t it?
This is similar to the investment advice of putting $100,000 into a mutual fund. Your initial $100,000 will “roll down a hill” and double in size every 7 years or so. The point of this advice is to get you to start investing. Over time, your investment will grow bigger and bigger. Just like a snowball.
Now, let’s say you want to roll the biggest snowball you possibly can.
If you start rolling a snowball down the hill that’s only 1 foot wide, the snowball will double in size every 100 feet. Yet it won’t be as big.
But if you start rolling a snowball down the hill that’s 10 feet wide, the snowball will double in size every 100 feet and will be much bigger.
To compare this to investment, your investment in the mutual fund will double every 7 years. That’s 3 to 6 times total over your entire working career.
Sam has just graduated from college and got his very first job. But Sam didn’t have any savings and hadn’t yet built up an investment portfolio. So when he began savings from his salary, he had only to $5,000 to start investing.
Here is Sam’s “Slow Growth Snowball Track”:
Sam was happy that his money doubled every 7 years. But Sam has started with a “Small Snowball” of only $5,000. So at 45 years old Sam ended up with only $40,000.
Angela also has just graduated from college. And Angela also didn’t have any savings and hasn’t yet built up an investment portfolio. But Angela chose to use GrowthAdvisor to help her grow her wealth. So instead of simply getting a job and saving money from her salary, Angela decided to use Employee Stock Options.
Age 24. Angela starts a company with Employee Stock Options (ESOs). She hasn’t used GrowthAdvisor yet.
Age 26. Angela uses GrowthAdvisor.
GrowthAdvisor shows Angela that her current company will earn her only $9K per year in ESOs.
GrowthAdvisor finds the many other companies that can earn her $60K to $100K per year in ESOs.
Angela interviews at a technology startup that GrowthAdvisor recommended. The startup makes her an offer that will earn her $26K per year in ESOs.
GrowthAdvisor creates for Angela a Negotiation Chart that she uses to get more ESOs in her grant, bumping up against her earnings from $26K per year to $70K per year.
Angela gets the job and earns $70K per year in ESOs.
Age 30. The company that Angela has started is acquired.
The acquisition payout to Angela is $400,000 for the 4 years that she worked there. She expected $70K per year but got a bit more—$100K per year.
Angela invests $400K in mutual funds.
Age 37. Angela’s $400K doubles to $800K.
Age 44. Angela’s $800K doubles to $1.6MM.
Angela was very happy that she started a company right after she graduated from college. And she was even happier that she decided to use GrowthAdvisor early in her career. So at 44 Angela ended up with a whopping $1.6MM.
Sam is 45 years old with $40,000. Sam is very sad.
Angela is 44 years old with $1.6M. Angela is very happy.
Now, this is the Snowball Technique kicking arse.
So you see, if you decide to use GrowthAdvisor, you can earn $200,000-$400,000 more from your Employee Stock Options. If you then invest that extra $200,000-400,000 and let it double every 7 years, you’ll make a lot more.
Let GrowthAdvisor methodically plan your Employee Stock Options earnings so you can win big. The advantage is obvious.
With GrowthAdvisor you can retire 10-15 years earlier.
If your focus is on monitoring your budget and credit score, then Intuit Mint is the clear winner.
If your focus is on career and Employee Stock Options expertise, then your best choice is GrowthAdvisor.
But if your focus is on building the most wealth, then it’s best if you use both Intuit Mint and GrowthAdvisor.
The final decision is simple. It all depends on how big do you want your earnings to be, and how fast do you want to retire.
Ready to give us a try? Get started here.
Questions? Email our team at email@example.com
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