An estimated 10,000 U.S. baby boomers turn 60 every day, and they need money to rebuy the entire Beatles catalog in whatever new format we’re using this year. They’ve been doing this roughly once a decade since age 10. Bless your heart, planned obsolescence.
A silly way to introduce PYMNTS’ latest Provider Ranking of Personal Finance Apps? Perhaps, but if you’re still reading, then it worked. Silliness has its place in the financial world.
There’s nothing funny per se about the new rankings. Just lots of evidence that folks are making moves of their own with digital investing tools that turn dollars into more dollars, digitally.
The Top Five
Ringing out from the No. 1 position, it’s still challenger bank Chime (incidentally, we’re supposed to stop calling it a “bank” — some regulators don’t approve).
Next up at No. 2 is Acorns Invest, dropping one spot and breaking a tie for No. 1 last cycle.
Big doings at No. 3, as the Stash app comes flying out of the blue to land the third spot after not charting at all last month. It could be all the recent talk of Stash going public.
Slightly different story at No. 4, where sits the Current app, falling two chart positions but sticking to the top five. Much the same for No. 5: Albert Save and Spend Smarter dropped one rung from last time, but kept its seat at the table of tip-top personal finance apps.
The Top 10
Here among the top five hopefuls for future provider rankings, we find the mighty Fidelity app continuing its journey up and down the charts, dropping three spots to land at No. 6.
Another surprise (that isn’t very surprising, considering recent events) is the appearance of the Robinhood app at No. 7, after an absence from the Provider Ranking of Personal Finance Apps.
Mint Personal Finance & Money drops three spots this go around, netting No. 8.
Also falling a bit, but definitely in it to win it, is the myWisely Financial Wellness app at No. 9, a drop off of two spots since the last cycle.
Rounding out the rankings at No. 10 this month is the Empower financial management app, taking No. 10 and living to fight another day. So goes it in the world of personal finance apps.