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A Summary of

My Financial Stack as a Millennial

by
Sachin Rekhi
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Sachin Rekhi shares the applications he believes to be effective for his finances.

Checking/Savings Account: Capital One 360

  • Decided to switch to Capital One 360, an online bank, due to convenience when moving
  • Advantages include a mobile app and online statement notices that are all in one place
  • It has competitive interest rates, but interest rates are not worth chasing anyway

Credit Card: Chase Sapphire Preferred

  • Chosen for the value of the rewards
    • Used Mint to see an overview of his habits and then found that this card provided the most benefits

Investments: Vanguard and Wealthfront

  • Found that it is difficult to beat market returns, so he invests in index funds
  • Did not like using wealth managers to access this passive income stream because of the fees, so Vanguard was the best option
    • For retirement accounts, Vanguard has the 401(k) and Roth IRA 
  • Taxable investments he uses Wealthfront
    • Pay an advisor fee to Wealthfront for additional benefits and management

Spending Management: Mint

  • Easily analyze monthly spending patterns between accounts
    • Breaks down spending into categories such as groceries, rent, bills, clothing
    • Can have some issues with discrepancies

Net Worth Management: Personal Capital

  • Provides an aggregate for all financial accounts and is a complement to Mint

Insurance: Geico

  • Has not had any issues with Geico
  • Good customer support, and competitive prices

Tax Preparation: Turbo Tax

  • He would rather use software over humans and taxes are no exception 
  • It does a great job finding all available tax savings
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