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Ghostfolio: Open-source wealth management software

ghostfol.io

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Re: Ghostfolio: Open-source wealth management software

#31

Post by matthewtse »

xur17 wrote: post #14

Very neat, excited to take a look, and especially excited that it is self hostable / open source. I've tried a number of services like this, and always end up back on a spreadsheet because: 1. I hate giving my data to a third party 2. There always ends up being some limitation that forces me to exclude part of my assets, doesn't let me handle something the way I wish, etc

Yes same! I've always wanted some "simpler" net worth tracker, still on a spreadsheet at this point.

I never liked the big heavy ones with all the bells/whistle integrations that want your password so they can log directly into your financial accounts. And the integration would always break, causing my net worth to swing by double digit percentage points. I ended up spending more time nursing the integration than actually watching my net worth.

Re: Ghostfolio: Open-source wealth management software

#32

Post by toolz »

xur17 wrote: post #17
FrustratedMonky wrote: post #16

Isn't "wealth" a misnomer. Do people with real wealth really use open source tools? Or do they have meetings with their accountants, bankers, brokers. This is really "wanna be wealthy" tools.

What do you define as wealthy? If you read bogleheads / fire blogs, there are plenty of people I would define as wealthy that self manage their assets. A lot of them use spreadsheets, some use free / cheap software online.

Everyone in my family with a net worth over 5MM self-manages their assets. Many financial advisors/managers are percentage based commission which ends up being about as close to a scam as you can get without it being unethical. (very much just my own opinion here)

I don't trust industries that use ignorance to line their pockets, which is why I manage my own wealth.

Re: Ghostfolio: Open-source wealth management software

#33

Post by matthewtse »

FrustratedMonky wrote: post #16

Isn't "wealth" a misnomer. Do people with real wealth really use open source tools? Or do they have meetings with their accountants, bankers, brokers. This is really "wanna be wealthy" tools.

Would argue a surprising number of millionaires+ don't have any bankers/brokers, as the fees are usually % based and they really add up.

Re: Ghostfolio: Open-source wealth management software

#34

Post by jollyjerry »

matthewtse wrote: post #31
xur17 wrote: post #14

Very neat, excited to take a look, and especially excited that it is self hostable / open source. I've tried a number of services like this, and always end up back on a spreadsheet because: 1. I hate giving my data to a third party 2. There always ends up being some limitation that forces me to exclude part of my assets, doesn't let me handle something the way I wish, etc

Yes same! I've always wanted some "simpler" net worth tracker, still on a spreadsheet at this point. I never liked the big heavy ones with all the bells/whistle integrations that want your password so they can log directly into your financial accounts. And the integration would always break, causing my net worth to swing by double digit percentage points. I ended up spending more time nursing the integration than act…

I expanded my spreadsheet into a webapp https://jch.app. My original thinking was to avoid broken bank syncing, but one problem I still have is how to include assets that aren't publicly listed. For example, have funds in a retirement account that's specific to that institution and can't fetch updated prices. Currently getting around that by using a similar target date fund as a proxy for the price.

Re: Ghostfolio: Open-source wealth management software

#35

Post by reidjs »

matthewtse wrote: post #31
xur17 wrote: post #14

Very neat, excited to take a look, and especially excited that it is self hostable / open source. I've tried a number of services like this, and always end up back on a spreadsheet because: 1. I hate giving my data to a third party 2. There always ends up being some limitation that forces me to exclude part of my assets, doesn't let me handle something the way I wish, etc

Yes same! I've always wanted some "simpler" net worth tracker, still on a spreadsheet at this point. I never liked the big heavy ones with all the bells/whistle integrations that want your password so they can log directly into your financial accounts. And the integration would always break, causing my net worth to swing by double digit percentage points. I ended up spending more time nursing the integration than act…

Have you dabbled with plain text accounting systems at all? They seem like the next step after spreadsheets because ease of version control and pipelines to/from.

Re: Ghostfolio: Open-source wealth management software

#36

Post by breakds »

FrustratedMonky wrote: post #16

Isn't "wealth" a misnomer. Do people with real wealth really use open source tools? Or do they have meetings with their accountants, bankers, brokers. This is really "wanna be wealthy" tools.

There are quite some wealthy people who happens to understand technology well and use and contribute to many open source tools.

Re: Ghostfolio: Open-source wealth management software

#40

Post by mushufasa »

jollyjerry wrote: post #25
otoburb wrote: post #10

The GitHub link is: https://github.com/ghostfolio/ghostfolio The premium hosted edition of this service isn't inspiring confidence if their front page, presumably residing within the same cloud infrastructure, can't handle the HN hug of death. Operational issues aside, I love seeing open source self-hosted breaking into retail wealth management. Right now, it seems everybody I speak to that isn't a professional or in…

Curious to hear what you're looking for from a wealth management product. With banking / brokerage platforms like Alpaca, it's possible to create an open source roboadvisor, but I'm not sure who the market would be. Someone who is interested in algorithmic trading would go directly access the API's, and someone who wants a hands off experience could choose from existing products, or get bundled services from a big ba…

Yes I've done a lot of customer discovery interviews in this space, and what resonates is a quote: "People like spending their money, not spending time with it."

Outside of people who money manage for a living, most analysis tools seem to fit into a "low frequency, low pain" problem for individuals in the "retail" segment. UHNW have so many assets they need tailored help. And people with huge pain in debt don't have much time, or lack the wherewithal to manage spreadsheets or analysis apps.

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