Thursday, May 23, 2024

Track ALL of Your Assets in One Place


Tracking your net worth and the value of your various financial assets can become complex as you use multiple banking and investing platforms. Kubera is a convenient, all-in-one digital platform that automatically tracks your portfolio performance and stores essential documents related to specific accounts and your estate plan.

Our Kubera review delves into how this platform can be your go-to personal assets tracker for individual and family financial planning.

Kubera home

Summary

Kubera excels in net worth tracking by linking to over 10,00 financial institutions worldwide. It can track investment performance for stocks and physical assets and simulate future projections. Digital document storage is another unique advantage for simple estate planning.

Pros

  • Bank and investment account syncing
  • Customizable net worth tracking
  • Important document storage
  • $1 trial for 14 days

Cons

  • No budgeting tools
  • No free plan
  • Pricey for simple situations
  • Lacks live customer service

What is Kubera?

Kubera home

Kubera tracks traditional and alternative asset values by linking to your financial accounts. By setting up your entire portfolio, you can also add manual accounts and, more accurately, project your future net worth balance.

It can track assets, including:

  • Stocks
  • Bank accounts
  • Real estate
  • Cryptocurrency
  • Precious metals
  • Vehicles
  • Domains

In addition to quickly calculating your liquid net worth, I also like that you can upload important documents for each asset along with your estate plan. This all-in-one platform can make it easier for spouses, beneficiaries, and financial advisors to view your complete financial picture and access the various features. 

While this platform requires a paid subscription, it provides more perks than free net worth calculators, such as document storage and advanced reporting. For only $1, you get a 14-day full-access trial, which is plenty of time to set up your portfolio.    

This platform is best for tracking your net worth and storing digital copies of essential documents in one place. People who are rich or wealthy and have sound money management practices can benefit the most as there are no budgeting features.

It’s most advantageous when you have a high net worth or own multiple types of income-generating assets and are serious about building wealth and visualizing your progress.    

How Does Kubera Work?

Kubera home

First, Kubera can sync to your financial accounts automatically, allowing you to view the current account balance when logging in. Kubera connects to most U.S. and international banking and investment platforms using Yodlee, but you can also add manual accounts.  

After adding your financial assets and outstanding loans, the platform calculates your net worth by subtracting any debt balance from your total asset value. It also breaks down your investable assets, cash on hand, and potential tax burden on your account dashboard.

I didn’t take long to link my various accounts, and the automatic syncing works well. Adding manual accounts is easy, too. I suggest taking a few extra minutes per account to fine-tune the cost basis, cash flow, and acquisition date to determine your investment return. 

You can modify each account for further accuracy. For example, you may include the cost basis for multiple stock purchases. Additionally, you can distinguish if the asset is in a taxable, tax-deferred, or tax-free account to estimate the potential taxes on unrealized gains better. 

What sets Kubera apart from other retirement calculators is its ability to upload documents like account statements, title deeds, and ownership documents. You can also add digital notes to help beneficiaries and financial advisors learn more about the account when reviewing your finances.

How Much

Kubera starts with a 14-day free trial for $1 before choosing an annual plan: 

  • Personal: $150 per year
  • Family: $225 per year

With free read-only access, you can share your account net worth and investment details with your financial advisor, family, and loan officers. Consider upgrading to the family plan when you want other loved ones to have their own login details to access your accounts.  

The platform also utilizes a “dead man’s switch,” where a named beneficiary automatically gains access if you don’t respond to Kubera’s messages or log into your account within a specific period.

Unfortunately, there isn’t a free plan but this is one of the best paid net worth trackers I have used with minimal frustration and ample flexibility. In my opinion, the $1 14-day trial is very affordable, and plenty of time to decide if this is better than your current wealth tracking method.

Key Features

Here are some of Kubera’s best financial assessment tools with every plan. 

Net Worth Tracker

Kubera home

The net worth tracker is the cornerstone benefit, and it’s easy to set up. You can link to nearly any bank or investing platform worldwide for automatic balance updates. 

There are also several ways to add details to synced and manual accounts, such as the asset acquisition date, original purchase cost, and any outstanding loans or credit card debt. 

I find the dashboard easy to read as it highlights financial metrics, including:

  • Total net worth 
  • Investable assets (liquid investments like stocks, crypto, and retirement accounts)
  • Debts
  • Cash on hand

The details become more specific as you fine-tune each account. Moreover, extensive reports start populating as your account remains open since there is more data to populate. 

Along with the simulator, you can generate personalizable reports that break down your net worth and investment allocations.

Investment Tracker

Kubera home

You can also track the investment performance by account, specific asset, or stock symbol. It can also connect to over 20 cryptocurrency exchanges and storage wallets. Physical assets are also trackable, but you may need to manually input the data with the exception of Zillow listings for real estate or vehicle VINs.  

This platform calculates an internal rate of return (IRR) and compares it against various benchmarks, such as the S&P 500, Vanguard total market index funds, Bitcoin, and Apple stock.

The in-depth tracking tools update frequently throughout the day to view the current and historical portfolio values. Designating if the account is taxable or tax-advantaged helps estimate your potential tax liability.

Additionally, you can adjust the ownership percentage and committed capital to personalize your returns and portfolio value. The platform separates your investments into separate sheets to easily compare liquid assets like stocks and funds to physical assets such as investment property.    

Other portfolio analyzers are a better fit when you want to focus on optimizing your asset allocation or screening stocks. 

Multi-Currency Support

In addition to connecting to over 10,000 financial institutions worldwide, Kubera supports multiple currencies within the same portfolio. The correct currency automatically displays with linked overseas accounts. For instance, a particular asset value will be in euros if it’s a Swiss bank account.

You can quickly change the currency for manual accounts by typing the currency abbreviation before the balance. The wealth tracker calculates the conversion rate so you see the account value in your preferred currency. Currently, the net worth dashboard can display in 10 currency denominations.  

Document Vault

Another valuable feature is the ability to store account-specific documents and estate planning documents. This is a useful perk for many long-term planners who want to make it as easy as possible for beneficiaries and family members to view essential documentation along with the current account balances.

Examples of documents that you may upload include:

  • Bank account details
  • Business contracts
  • Contact information
  • ID cards
  • Insurance policies
  • Last will and testament
  • Power of attorney
  • Treasure map
  • Trust documents

Just ensure your uploads don’t mention account login information or passwords. Kubera encrypts your online data, but sensitive details can still fall into the wrong hands. 

Net Worth Simulator

You can estimate your future net worth with customizable assumptions while tracking your financial progress. You can add adjustable rules related to assets, debts, income, and expenses to realistically paint how your portfolio, income, and debts will change.

Some of the filters you may employ include:

  • Inflation rate
  • Portfolio withdrawal rate (i.e., the 4% rule)
  • Valuation change for a particular stock or retirement account
  • Taking out new debt
  • Social Security income

You can save multiple scenarios to compare the possibilities. Each scenario displays the projected changes for one month up to 20 years into the future.  

Customer Reviews

Below are several positive and negative Kubera reviews from paid users.

“Kubera is one of those services that you can’t live without. I’m able to track real estate, vehicles, crypto prices, stocks, credit card balances, banking, and much more, all with bank-level security. I’ve tried many services, including a plain old Excel file, but nothing else compares.”—Jared W. 

“​​I specifically like the ability to hit “refresh” and have it populate. Personal Capital (now Empower) does that for free but only for one aggregator so for half my stuff it breaks.” —ManlyMatt83

“Kubera is a great idea. Some of the connections and automated charts can be clunky/inconsistent and I think user-friendliness could be better.” — Holly

“Almost great. Very good at connecting to my accounts. I do not need budgeting, but a list of recent transactions would be really helpful. I wish they were able to show simple calculations like subtracting credit card debt from my current bank account balance to display on the home screen.” — Steven L.

Alternatives to Kubera

Kubera can make net worth tracking and estate planning easier, but you may prefer other platforms offering budgeting features and personal finance tools.

  • Empower: This free net worth tracker links to most financial accounts and supports manual accounts to protect your retirement savings. It also offers free investment portfolio analysis tools and optional wealth management services.  
  • YNAB: This robust budgeting app helps you create a zero-sum budget to assign every dollar a job to cover bills, pay off debt, and save money. It also has net worth tracking abilities. 
  • Tiller: Create a customizable budget spreadsheet to track your daily transactions and plan for future goals. You can easily create several sheets and implement different budgeting strategies for your personal and business finances. 

Frequently Asked Questions

Here are several commonly asked questions about how Kubera can track your wealth.

Does Kubera track spending?

No, Kubera doesn’t track purchases or bill payments and only tracks the daily account balance changes. You must use a budgeting app to track purchase spending and make a household budget. 

Is the Kubera app safe?

The Kubera mobile app for Android and iOS devices uses bank-level security to encrypt your personal data. Additionally, the service doesn’t store your login details for linked accounts or sell your information. However, you shouldn’t upload documents or write notes that include sensitive information that could become compromised through data breaches or if the wrong person accesses a read-only link.

What are the Kubera customer service options?

From the website or app, you can send an email or open a query in the chatbox. Unfortunately, on-demand live chat and phone support are unavailable.

Summary

Kubera is an effective option for people who own multiple assets or want a digital estate plan to monitor their wealth. The net worth tracker and digital document storage can make long-term financial planning easier.

Finally, automated account syncing can save lots of time versus using a traditional spreadsheet that requires manual updates.

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