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Ghostfolio: Open-source wealth management software

ghostfol.io

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Re: Ghostfolio: Open-source wealth management software

#81

Post by zeagle »

xur17 wrote: post #26
westonplatter0 wrote: post #18

Earlier quoted context omitted.

nah. Most of wealthy people I've interacted with have refined/specialized workflows that are something similar to 5 excel spreadsheets. Build a tool that allows people to organize their 5 spreadsheet and you win.

I've tried a number of tools that promise to "automatically" pull all of my transactions and assets in and create a dashboard for me, but I always end up back with a group of spreadsheets. My current setup is: 1. Overview spreadsheet that shows my current net worth (fed from my other spreadsheets), a monthly snapshot of spending, income, and assets, and number of months until FIRE based on my trailing 12 month spend…

That's cool. I'll try out Lunchmoney.app!

Re: Ghostfolio: Open-source wealth management software

#85

Post by olejorgenb »

berkes wrote: post #66
olejorgenb wrote: post #58

Earlier quoted context omitted.

Can ledger track performance over time (which I assume Ghostfolio can). Does ledger (or the eco-system around) come with integration towards sources which categorize assets, and can it easily give a breakdown of the exposure according to such categorizations (per industry, per region, etc.)?

Yes, no. Yes, Ledger can do all those things. No, it doesn't do this "out of the box". I do most of these things. Simple, by adding meta-tags to my ledger. I'm just now working on consolidating on all my willy-nilly scripts and tools. And then plan to turn this into an actual "investment dashboard" ala ghostfolio but using the ledger as source. In the end, a plain-text-ledger is just a of database. And the ledger que…

Of course it's possible to implement these features on top of any system which stores the transactions... but I'm sure you agree that to a user it matters that these things are accessible without writing lots of willy-nilly scripts, and preferable not having to add such meta-tags manually when other sources have already categorized them.

Thus I suspect there's space for more specialized solutions like Ghostfolio. Although I myself would prefer if my accounting system could also do these things. (I'd be interested in these willy-nilly scripts. I also enjoy writing willy-nilly scripts, but time is limited)

EDIT: saw the link you already posted

Re: Ghostfolio: Open-source wealth management software

#86

Post by toolz »

ebiester wrote: post #52
skippyboxedhero wrote: post #46

Earlier quoted context omitted.

Worked in wealth management (and am now building something similar to the OP but from a totally different direction), it is a complete scam. The original comment says that no-one is using apps...what do you think wealth managers use? Wealth managers are usually the same products that are re-skinned for professional use with a few added features that most advisors should know how to do themselves...but usually don't (…

So, then, who are the right people for the kind of financial questions that require experience but don't need an ongoing relationship? (For example, someone who has an existing IRA but would like to convert it as to later take advantage of backdoor Roth conversions - it's a complex modeling exercise that's probably simple for an expert but hard to get right for someone who will need to do it precisely once in their l…

For me personally, half the benefit of handling your finances correctly is that with the knowledge of one thing often comes learning about something else that might tweak your financial strategy or at the very least increase your options in life. For something like a backdoor roth strategy or when it might make sense to utilize isn't something I personally would want handled for me. I would want to understand the decisions I make and potentially learn something important along the way.

Financial literacy doesn't seem optional for the wealthy from my perspective. There's too much to gain by having it and too much to lose by neglecting it.

Re: Ghostfolio: Open-source wealth management software

#88

Post by basch »

ghostpepper wrote: post #87

Maybe I'm just getting old but it always makes me skeptical when something is introduced as "Open Source" and then the main landing page includes a pricing tab.

Is there a lot of free cloud hosted open source software as a service that isnt ad supported?

Re: Ghostfolio: Open-source wealth management software

#89

Post by [deleted] »

systemvoltage wrote: post #76
wing-_-nuts wrote: post #22

Call me old fashioned but I just add everything under 'other accounts' on vanguard, and call it a day. It's close enough for my taste. I imagine other brokerages offer this feature too and vanguard has pretty much the worst reputation for ux out there.

Yeah, Schwab can track other accounts from Fidelity, Vanguard, etc. I’m probably a minority but I don’t micromanage my wealth. General account level information is good enough. I also do not trust wealth managers, usually their advice is terrible. Schwab automatically assigns a person on your account after a certain wealth threshold. They call me occasionally to make sure I’m aware of the risks which of course I am.

[deleted]

Re: Ghostfolio: Open-source wealth management software

#90

Post by mirzap »

ghostpepper wrote: post #87

Maybe I'm just getting old but it always makes me skeptical when something is introduced as "Open Source" and then the main landing page includes a pricing tab.

What's wrong with paying for the software? You get the source code, they provide you the service if you don't want to handle it by your self.
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