Apps

[TammyE934472]

Hello - is Rocket money a safe and secure app? It asks you for your personal information - I realize it's needed to find your subscriptions, but they want all your account info. So do you think this is a safe app?

[fffred]

@TammyE934472    I imagine it's a reasonably safe and secure app for smartphones. Of course, we hear all the time about large companies having been hacked and users' data exposed. So I assume Rocket is no safer than this. 

Their reputation? Rocket has been around for some years, particularly promoting their mortgages. I have heard their advertisements on radio for Rocket Mortgage. Does familiarity mean they are trustworthy?

Finally, I just check their website (rocketmoney.com). It seems that they are trying to be like many other players in this field: your one stop shop to view all your money-related accounts. The trick is you have to provide them with your log in credentials or otherwise link your accounts to them so they can present your money life to you on a single "dashboard". 

Personally, these consolidation views of my situation, available through many vendors, including banks, TurboTax, investment firms, etc, et al, do not interest me. I do not want to share my account information with any of these consolidators.

I maintain my own financial "dashboard" in an Excel file along with ledgers for each account at a number of banks, etc. This has served me well for 30 years. I'm not certain that it will serve me for the next 30, my mind may not be able to handle this. But I am still not trusting of consolidators.