Monarch Money vs Empower for budgeting, net worth, and retirement in 2026
By Nicolas StrautTweed is committed to editorial integrityNo link on this page is a referral or affiliate link, and Tweed is not paid when you open an account or sign up through them.
Our evaluation is independent all the same: every fee, rate, and rule on this page comes from the provider's own terms, observed on the date shown under the headline, and our verdict would read the same either way. Providers can change or end their offers without notice, and they do not review our pages before we publish.
The investing information provided on this page is for educational purposes only. Tweed does not offer advisory or brokerage services, and does not recommend or advise investors to buy or sell particular stocks, securities or other investments.
Key takeaways
- Empower's Personal Dashboard, including its Retirement Planner, is free,1 and Monarch Money costs $99.99 a year for Core and $199.99 for Plus, which adds a retirement forecast.2
- When choosing between Monarch Money and Empower, start with what you'll use every week. Monarch runs a detailed budget, and Empower tracks investments and retirement for free.
- Monarch Money fits a household that budgets together. Empower fits an investor who wants a free net worth and retirement view, and many people use both.
In this article
Key takeaways
- Empower's Personal Dashboard, including its Retirement Planner, is free,1 and Monarch Money costs $99.99 a year for Core and $199.99 for Plus, which adds a retirement forecast.2
- When choosing between Monarch Money and Empower, start with what you'll use every week. Monarch runs a detailed budget, and Empower tracks investments and retirement for free.
- Monarch Money fits a household that budgets together. Empower fits an investor who wants a free net worth and retirement view, and many people use both.
Monarch Money is a paid budgeting app that tracks your net worth and investments, with a retirement forecast on its Plus plan. Empower's Personal Dashboard is free and covers net worth, portfolio analysis, budgeting, and a retirement planner. This guide compares budgeting, investments, retirement planning, and cost, including what Empower charges for advice.
Monarch Money vs Empower at a glance
Monarch Money vs Empower comes down to a paid budget for your household or a free investment and retirement dashboard.
| Feature | Monarch Money | Empower |
|---|---|---|
| Best for | A household that wants a detailed monthly budget | An investor who wants free net worth and retirement tracking |
| Price | Core $99.99 a year or $14.99 a month, Plus $199.99 a year | Personal Dashboard free, advice from 0.89% a year |
| Budgeting | Two budgeting approaches, rules, and alerts before you overspend | Budgeting and cash flow, automatic categorizing, savings and debt planners |
| Investments | Performance and diversification on Core, more depth on Plus | Portfolio analysis of risk and where your money is invested |
| Retirement planning | Plus only | Retirement Planner in the free dashboard |
| Sharing | One or more household members, each with a login | Not described on Empower's tools pages |
Tweed read Monarch's pricing page and Empower's tools and fee pages on October 26, 2026.
What is Monarch Money?
Monarch Money is a paid personal finance app for budgeting, cash flow, and net worth, with Core at $99.99 a year and Plus at $199.99 a year. It earns from subscriptions, not ads. Plus adds a retirement forecast, life-change scenarios, and business tracking, and our Monarch Money review covers both plans.
What is Empower?
Empower is a retirement and wealth company whose free Personal Dashboard tracks your net worth, investments, spending, and retirement plan in one place. Empower also sells investment advice through its Personal Strategy service. Our Empower review covers each advice tier and the sales calls that come with it.
Monarch Money vs Empower features compared
Monarch Money vs Empower features split on four things: budgeting, investments, retirement planning, and sharing. Each section opens with the app that comes out ahead.
Budgeting and cash flow
Monarch Money wins on budgeting, because it builds a budget from your real spending, offers two budgeting approaches, and alerts you before you overspend. Empower's dashboard tracks budgeting and cash flow, categorizes transactions automatically, and adds a Savings Planner, Debt Paydown, and Emergency Fund tool. If you set category budgets and check them weekly, Monarch gives you more control.
Investments and net worth
Empower wins on investments for free, because its portfolio analysis shows your risk level and where your money is invested at no cost. Monarch Core tracks investment performance and diversification, Zillow home values, and Coinbase crypto, and Plus adds unrealized gains and a deeper look at allocation. To see where your total stands, compare it with net worth by age.
Retirement planning
Empower wins on retirement planning for most readers, because its Retirement Planner is in the free dashboard.3 The planner lets you test retiring at different ages and plan withdrawals for retirement income, and Monarch's forecast and life-change scenarios need Plus at $199.99 a year. The Tweed Retirement Calculator is also free, and our ProjectionLab review and Boldin review cover dedicated planners.
Sharing with a partner
Monarch Money wins on sharing, because you can invite one or more household members at no extra cost, each with their own login. Empower's tools pages don't describe a shared household budget, so a couple who budgets together gets more from Monarch.
Monarch Money vs Empower cost
Monarch Money vs Empower cost starts at $0 for Empower's dashboard and $99.99 a year for Monarch Core. Empower earns from advice, not from the dashboard. The figures use list prices and fees from October 26, 2026, with no promo codes, prices held flat, and Empower's advisory fee shown before fund expenses.
If you want a budget
If you want a budget, you'll pay $0 for Empower's dashboard or $99.99 a year for Monarch Core, which is $499.95 over five years. Monarch's monthly billing costs $179.88 a year.
If you want a retirement plan
If you want a retirement plan, you'll pay $0 for Empower's Retirement Planner or $199.99 a year for Monarch Plus.
| Retirement planning | Empower dashboard | Monarch Plus | Tweed Retirement Calculator |
|---|---|---|---|
| One year | $0 | $199.99 | $0 |
| Five years at today's prices | $0 | $999.95 | $0 |
| Also includes | Net worth, portfolio analysis, budgeting | Full budget, business tracking, a will through Trust & Will | Projection only |
If you want an advisor
If you want an advisor, you'll pay Empower 0.89% a year from $100,000, and Monarch doesn't offer advice.4
| Balance managed | Empower annual advisory fee |
|---|---|
| $100,000 | $890 |
| $250,000 | $2,225 |
| $500,000 | $4,450 |
Monarch lets you give a financial professional read-only access instead, so you can pay a planner separately. For a flat-fee adviser that reads your accounts, see Mezzi vs Empower.
Should you choose Monarch Money or Empower?
Choose Monarch Money if you want a detailed budget for your household, and choose Empower if you mainly want free investment and retirement tracking. Many people use Empower's free dashboard for investments and pay for Monarch's budget. For more free options, see Empower alternatives, and for a stricter budget, read Monarch Money vs YNAB.
Choose Monarch Money if
- You want a monthly budget with rules and alerts before you overspend
- You share money with a partner and want separate logins
- You want an app that earns only from your subscription
- You'd pay $100 more for Plus to keep your budget and retirement forecast in one place
Choose Empower if
- You want net worth and portfolio analysis for free
- You want a retirement planner without paying for it
- You may want a human advisor later and have $100,000 or more to invest
- You budget lightly and don't need category rules
If a lower first-year price matters more, Monarch Money vs Quicken Simplifi compares an app that includes a retirement planner. Before you pay $199.99 a year for Monarch Plus, run the Tweed Retirement Calculator to see whether you're on track. Then add up what you own and owe in the Tweed Net Worth Calculator.
Frequently asked questions about Monarch Money vs Empower
Is there a better app than Empower?
A better app than Empower depends on what you need. Monarch Money gives you a more detailed budget for $99.99 a year, and dedicated planners like ProjectionLab go deeper on retirement. If you want free net worth and portfolio tracking, Empower is hard to beat. Our Empower alternatives guide compares more options.
Is Empower a good financial advisor?
Empower can be a good financial advisor if you want a team managing $100,000 or more for 0.89% a year. That's $890 a year at $100,000. Lower-cost options exist, so compare its tiers and its sales outreach in our Empower review before you link large accounts.
Is Empower free?
Yes, Empower's Personal Dashboard is free, and Empower says its financial tools cost nothing. That includes net worth, portfolio analysis, budgeting, and the Retirement Planner. Empower charges only if you sign up for its investment advice, which starts at 0.89% a year with a $100,000 minimum.
How does Empower make money?
Empower makes money from investment advice and the other financial products it sells, not from the dashboard. Its affiliate page pays partners when a visitor links accounts worth $100,000 or more, the level where its advice starts. Monarch Money earns only from subscriptions and shows no ads.
Is Empower safe?
Empower says it protects your data with industry-standard encryption, multifactor authentication, and fraud protection. The dashboard connects to your accounts so it can show balances and transactions. Turn on multifactor authentication, and expect Empower's advisors to reach out if your linked accounts total $100,000 or more.
Can Empower help with tax filing?
Yes, Empower can connect you with full-service tax filing providers from inside the Personal Dashboard, including help if you need an extension. Empower doesn't prepare your return itself. Monarch Money's Plus plan exports tax-ready reports for a side business or rental property instead.
Can you use Monarch Money and Empower together?
Yes, you can use Monarch Money and Empower together, and it costs only Monarch's $99.99 a year, since Empower's dashboard is free. Many people budget in Monarch and use Empower's portfolio analysis and Retirement Planner. You'll connect your accounts twice, so check that both support your bank.
Sources
- https://www.empower.com/tools
- https://www.monarch.com/pricing
- https://www.empower.com/tools/retirement-planner
- https://www.empower.com/products-solutions/personal-strategy
Personal finance writer, former Forbes contributor and This Week in Fintech writer. He isn't a financial advisor or a CPA.
Related posts
Brokerage reviews
7 best Empower alternatives in 2026
Seven apps that replace Empower's free dashboard or its paid advice, compared on yearly cost, SEC registration, and what each one tracks.
Nicolas Straut · Published Oct 25, 2026
Retirement planning
What is the median and average net worth by age?
Median net worth by age runs from $33,000 under 35 to $504,900 at 75 and older in the Fed's 2025 survey. See the median and average for each age group.
Nicolas Straut · Published Oct 10, 2026
Brokerage reviews
Mezzi vs Empower for investment advice and net worth tracking in 2026
Mezzi's flat $399 a year vs Empower's 0.89% of assets. Compare free dashboards, who places your trades, human help, and cost at three balances.
Nicolas Straut · Published Oct 13, 2026