Tracking Networth and performance

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Buster65
Posts: 217
Joined: Tue Jun 19, 2012 4:13 pm

Tracking Networth and performance

Post by Buster65 »

Is their off the shelf software to track networth and performance over time or is Excel the best way to do this?
amitb00
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Joined: Sun Jan 01, 2012 9:04 am

Re: Tracking Networth and performance

Post by amitb00 »

Personal Capital is free. Quicken is another popular one.
dbr
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Joined: Sun Mar 04, 2007 9:50 am

Re: Tracking Networth and performance

Post by dbr »

Yes, lots of software, but I would argue for Excel if working with a spreadsheet is practical for you. The advantage of your own spreadsheet is that you can do almost anything you want with the data and know exactly what you have done. In addition my experience is that inevitably there are awkward items that just don't fit or don't fit the way you want in a predesigned app. Also an app may calculate things in a way you don't understand or is not the way you wanted to do the math.

The disadvantage of using your own spreadsheet is that you have to populate the data. While there are various ways to download data electronically you will inevitably end up manually inputting some items. You will still have to do that with some daga in some apps unless you are happy to take what they give you and not worry about it. Unless you have a very complicated situation and are quite fastidious about accuracy this is probably not that big a chore. The fastidious person can also go crazy trying to reconcile what some app says they have and what some other table or report says it is.

The situation is also affected by how often you want to update your data. Many people are happy with an overview prepared annually while others might add data monthly. If you want an automated daily view for some purpose that is a different proposal.
csmath
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Joined: Sat Oct 13, 2018 11:32 am

Re: Tracking Networth and performance

Post by csmath »

Buster65 wrote: Fri Dec 04, 2020 1:10 pm Is their off the shelf software to track networth and performance over time or is Excel the best way to do this?
If knowing the "end of month" balance is frequent enough, take a look at the BogleheadsReturns spreadsheet by Longinvest.
Here is the thread: viewtopic.php?f=10&t=150025
Here is the wiki: https://www.bogleheads.org/wiki/Calcula ... al_returns

Personally I prefer using a spreadsheet because you can customize it and don't have to share any information with an aggregator. One quick addition I made to the BogleheadsReturns spreadsheet is that on the first tab I added the following formula to a single cell:

Code: Select all

=INDEX(Calculations!E6:E989,COUNT(Calculations!E6:E989))
That will show the total portfolio balance.
jebmke
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Location: Delmarva Peninsula

Re: Tracking Networth and performance

Post by jebmke »

Excel will work fine. I use Google Sheets. I only total NW once a year so I can send something to my estate attorney. I don't bother tracking performance. It has no influence on anything.
When you discover that you are riding a dead horse, the best strategy is to dismount.
just_learning
Posts: 18
Joined: Sat Aug 03, 2019 2:44 pm

Re: Tracking Networth and performance

Post by just_learning »

You could try FundManager.
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