Morningstar Investor Review | Is It Worth The Cost?
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- Опубліковано 15 чер 2024
- Morningstar Investor replaces the old Morningstar Premium subscription service for retail investors. It brings a much needed facelift to Morningstar's portfolio tracker. While it offers features that may be valuable to some investors, it still has a long way to go before being the type of tool most investors will find useful for the money.
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ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (amzn.to/3by10EE)
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Here's my article reviewing Morningstar Investor: robberger.com/morningstar-investor-review-and-users-guide/
Have you reviewed Vanguard's digital advisor yet?
Thank you.
I’m a subscriber to Morningstar Investor. Rob nailed all the key pluses and minuses. I’m hoping they build more on the service and the iPhone app. However as time goes on not much has happened. If the right product comes along I would switch.
I have used Quicken for years. It's investment tools are similar to Morningstar Investor. It does an X-Ray but it only gives the top 50 percentage holdings in it's stock intersection. But I can also keep track of my budget, etc. Certainly something to consider as it will track every detail you give it.
Empower is great for analyzing the allocation and the detail it provides. Didn't know about Stockrover. Thanks Rob! Learn something new today.
I thank you to be direct on your review. I clearly understood Morningstar investor and its price.
Thank you. I hope I finally finish thinking about start using this service after watching this video. I will let you know if I get or not
Hi Rob
Thanks for your instructive videos!
Is there a way to use the empower website without linking to my account? I am uncomfortable with giving my personal ID and password information to this website.
When I try to set up an account with Empower, there is no option to enter things manually.
Thanks
I might add- Morning star premium is free if you have 100k + in T Rowe Price.
Yea Fidelity doesnt doesnt even do that..they are tight wads.
I took a look and today, 10/22/23, they list $250k as the minimum level that provides free access to Morningstar Investor. That not to say that they might not grandfather existing accounts in at the lower level.
Great review!
Thanks Rob. For the price, this tool seems underwhelming. I stopped using them around the time they cratered their once good forum feature and stayed away as they started pushing ESG down the throat. I do enjoy your videos. Always thoughtful and practical.
My library subscription offers online access to Morningstar investment research center, I can use the portfolio xray but can't save it on the service provided. Not sure if it's a common service of libraries but worth a look.
Do any of these support the Thrift Savings Plan? TSP
Since Im in France can you do a comparision on the best broad market european etfs and historic returns. We get tax benefits on buying european stocks here. We can still buy amundi sp500 and world and tns of blackrock etfs but no vanguard. you can buy vanguard but you pay 30% flat tax. I only have berkshire, alphabet and cocacola in my non euro stock section of the portfolio. the rest is german daxx, eurostoxx, sp500 and nasdaq 100. Fees are a little bit higher in those american etfs but thats still better than the 11% they tax you extra. Love your videos, I found your channel not too long ago and I did a small rally in your channel and got tons of knowledge, you made me change strategies and future decisions. I thank you for that.
Just discovering your channel, Rob-really great stuff. Question: I worry that although Empower is charting performance, it's not taking into account the purchase date/price of all the lots. I have the same worry with the other tools that connect to brokerages automatically. Maybe they're not allowed access to the lot data? Perhaps Morninstar made the decision to only allow performance charting when all the data is available, instead of tossing out some fuzzy numbers like the others. That's my worry, please let me know if it's unfounded! I haven't yet seen any of the lot data in Stock Rover or Empower, but maybe I missed it. How could performance charting be accurate without it?
Morningstar used to have a feature that let you see how mutual funds were doing on a YTD, 1, 3 5 and 10 year basis. It was just a good way of seeing how components of your portfolio had performed on a quick view basis. However, M* eliminated that feature a couple of years ago. Does Empower allow you to do this? Thanks in advancee
Thats weird that they dont do it anymore.
Does anyone know what percentage of times Morningstar is correct when it says that a company is cheap and has to go up?
I've tried to use it but can't believe it doesn't track performance without hand entering data .I"ve shared my feedback with them when it was considered BETA....overall would love to sit in their product planning session. This was a huge miss..on the positive I do like that is shows me overall allocation if I have a stock/ETF/MF/cash in multiple accounts.
.morningstar information is available elsewhere...I've decided to move on and try other tools
Went to Empower and it’s not totally free. You need to share some very valuable information to get it. Call me conservative but I wasn’t about to give a third party my login credentials to my retirement nest-egg to continue. Would be perfect of we could sign up and manually enter data without compromising security.
If I’m wrong maybe someone could help me?
A few words of warning of Empower (recent personal experience)
- Zero “live person” support
- It would not link up with my retirement account (Alight) and nobody there to help
- They had plenty of time to call me numerous times to talk to an advisor, but zero time to support link my accounts
- Link to my bank account would not sync up to beginning of month (again, no support there)
- Nice option to list your properties and link up with Zillow home values - only to then figure out Zillow had value updates, that were not syncing up in Empowerment
- Finally agreed to talk to an advisor, only to show up 15 minutes late to our appointment (I did not pick up the phone.
So a lot of good “bells and whistles” but most don’t work correctly. And if talking to a live person is important to you, then avoid it like the plague!!
Idk if you use the free version. But for free i aint complaining
CAn you input individual bonds, CD's, myga's , cost of stock rover?
Stock Rover cost ranges from free to I believe $279 a year. They have a couple different plans. And yes, you can enter bonds. CDs and MYGAs may be a bit more difficult. Possible as a bond, but I haven't tried.
Morningstar Investor has great promise but I can not figure out how to keep it synchronized with T Rowe Price or vanguard accounts. Worthless for that.
Rob-I agree, the paid version is not worth it for most. However, I was told that the free version is no longer offered so they are trying to force a few more bucks from everyone .
Rob!
Does morningstar investor advise me on "what and when to buy or sell" so I can make some money? If not, it's just another organizer to me. Giving my id/password away for linking is a security risk. Hackers love to hack these small size companies because their IT structure is usually inadequate. Also, not all financial institutions support the linking feature. So, I still cannot combine all my assets in one place unless I enter them manually. In that case, a simple spreadsheet will do the job just fine.
For a retirement planner, I prefer On Trajectory over New Retirement.
Went to your website to subscribe to your newsletter, but couldn't find the link. Is there a special browser setting that's needed?
There’s a newsletter link in the description of this video.
On the website it’s the first link under the Menu option in the upper right-hand corner. Hope that helps!
@@AnnAmbler Thank you
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Don't remember of Rob mentioned it but Morningstar is only $99/year for K-12 and university educators. A no-brainer at that price and it only took a few minutes for them to confirm my university employment
They updated this, now it is $25 annually not $100.
So for students and teachers this is definitely the best bang for the buck.
Both Empower and Morningstar are lacking features in each. After empower, I wouldn't even touch morningstar. Stock Rover is good, but you need to be more into stocks than mutual funds, etf.
X-Ray was cool-when it was free. I’d be willing to pay about $1 per use.
I’m using Morningstar in my swab retirement fund. Their return is 5.7% right now. VOO is at 11.8%. Yikes. Not impressed.
Hey Rob, can you say hi to your two boys, Fisch and Cheez, for me.....
Hi there Rob, I really like your content; it's on point and very informative👏 🔥. Do you have a business mail and are you open for feedback? I just want to share my thoughts regarding on your videos if that's okay with you.
30 Sec into it, I am going to guess no, it's not worth it. I assume that most of us that follow Rob's channel are either Bogleheads or have strong Boglehead characteristics with most funds invented into low cost index type funds. However, there is nothing wrong with paying for a service if you get some value or education out of it.
You are getting tan?
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