Add a Net Worth Report [edited] (2 Merged Votes)

lanewinfield

Would love to have a Net Worth over time report—the Net Income alone does not show enough of a broad look at financial health.

I have done a bit of searching through the forums here—I know that at one point, there was a Net Worth Report on the web app but was brought down as late as February 2021.

Would LOVE to see this on both the web app AND the mobile app as well.

bloucks15

Yeah, that was one I was thinking of too. Right along with the net worth number should be a graph that shows net worth over time, or of a range of the users choosing. 

JTerbeek

In the reports or somewhere I would love to be able to see net worth changes over time. Perhaps if you click net worth it would show up, but it probably belongs in reports where I can see spending, savings, income and net income over time but not overall net worth that takes into account all of those plus investments, loans, properties, etc.

Thank you!

Coach Natalie

Hello @JTerbeek,

Thank you for taking the time to post your suggestion to the Community!

We did have a Net Worth Report available in Simplifi, however, it's currently down for maintenance. I can confirm that we will be getting this Report back, although I'm not sure when we can expect to see it. We do have an existing Idea post that can be followed here for updates: [removed self-referencing link]

With that being said, does the existing Idea post cover your request? If not, we can totally leave this as a separate request, otherwise, I am looking to merge this request with the existing one.

Please let me know, thanks!

-Coach Natalie

JTerbeek

Thank you for the response @Coach Natalie that other idea post covers my request as well!

Coach Natalie

Hello @JTerbeek,

Awesome, thanks for confirming! Please be sure to follow along here for updates!

-Coach Natalie

JKK

it’s frustrating net worth reports & trends are still under construction.

charliescarface

So, it's my understanding that the Net Worth report has been under construction since February 2021. If that is accurate, why? Either this is a financial tracking product or it is not. On top of that, it's a subscription product. How can I recommend such an incomplete package to other people?

JaredT

I'd like the ability to generate a report that shows my net worth over time -- YTD, 3 months, 6 months, 1 year, custom. Just the way you can in regular Quicken for desktop.

SeanF

@Coach Natalie any updates on this feature?

Coach Natalie

Hello @SeanF,

Thanks for the inquiry!

It looks like the Net Worth Report is still being worked on and we don't have an ETA quite yet. Hopefully we get all of the kinks worked out in the next few months! 🤞

-Coach Natalie

curious_saver

Adding another vote that I'd appreciate this feature - I just started a Simplifi free trial hoping to switch over from Mint, and overall a pretty good experience but this is one feature that I am still logging back into Mint to use.

ANDERMY

+ 1 more vote for Net Worth report. The sooner the better please. 

Schwil03

+1 vote for some type of net worth report as well

RobWilk

+1 From me : In Quicken, the 'net worth chart' had been a chart of my 'mental health'.  For example, if net worth had been increasing over time (spending less than income), and suddenly I had one or two months of spending MORE than income (net worth decreasing) it often was an indicator of mania and possibly even a predictor of need for hospitalization.   My psychiatrist was talking about writing a paper about it.  

ALSO: For net worth chart to really work over time, I have to have the ability to close and (ideally) 'hide' accounts from the account list.  That is, the transaction history would stay, it would contribute to the net worth history, but it would be 'out of site, out of mind' not in front of me unless i went looking for it.

DannyB

May I suggest that while you are waiting for the Net Worth Report to return to Simplifi, you can set up a free account with [removed], add all the accounts you want to include in your net worth and you will have available a handy Net Worth over time report on the dashboard and if you want you can go deeper into the underlying components.

Coach Natalie

Hello All,

We appreciate everyone's patience as we work to restore the Net Worth Report!

Sadly, we don't have an update or an ETA to provide on this quite yet, however, it is actively being worked on and we hope to see this Report back up and running in the near future.

Please be sure to stay tuned for future updates!

-Coach Natalie

JKK

Sadly, the NW report has been down longer than 1 year.  In internet timing, it is ancient and stone aged.  Imagine Apple would miss its new iPhone launch in 2022!

Tipeknu

@Coach Natalie is there any update?  This is so fundamental to one’s financial health, and therefore should be to the Simplifi platform. The fact that it’s been worked on for over a year tells me it’s really not a priority!?

Coach Natalie

Thanks for the inquiry @Tipeknu!

The last update was provided just a couple of comments above -- https://community.simplifimoney.com/discussion/comment/8141/#Comment_8141

-Coach Natalie

RobWilk

It's funny--- you say there was an update, then point to a message that says "Sadly, we don't have an update".  But I get the "actively being worked on" thing is sort of a status update.

RobWilk

I just want to comment on -this- topic:

There are two issues I'm most interested in having fixed, they are both 'being worked on', but this one is more important.

That is: my two issues of interest are the "second/third/fourth Wednesday of the month" type things for frequency of recurring transactions" and "net worth over time"

The other thing I can manually work around by hand editing dates, but the net worth of time for me is more important.  I need to look back and say, "Is my spending going in the right direction over time."

1. This will affect my spending, I will be more conservative if I see my net worth going down,
2. This for me with mania can be a health indicator which in quicken I have brought to show my doctor who agrees it's a health indicator (he was going to author a paper on it).
3. If net worth is going down, I can go back and review my expenses those months and see what affected it the most (was it one or two big purchases or was it a series of small purchases) which is informational and helps inform me of where my problem is.

Shermani

Coach Natalie, will the net worth report that’s coming capture data from the tim before the report is released? I’m asking because I may go back to another tool if there will be a gap and it’s too large.

Coach Natalie

That's a great question, @Shermani!

Unfortunately, I'm not aware of what all the Net Worth Report will entail, including what it will look like or how it will function. It's possible that the Product Team will share these details with us once the Report is closer to release, however, I'm not sure if or when that will happen. 

Sorry I don't have a better answer for you!

-Coach Natalie

Shermani

Thanks for replying. Wasn’t the answer I was looking for but refreshing to get an honest response quickly as opposed to staying silent to avoid giving not so great news.

Coach Natalie

Hello All,

Great news! Although we still don't have an ETA to provide on the Net Worth Report, we were able to confirm with our Product Team that they have a design for the Report, as well as developers actively working on it, so we can definitely expect to see this Report returned to Simplifi in the near future. 🥳

-Coach Natalie

Tipeknu

Progress!  Thanks for the update!

Shermani

I volunteer to beta test!

DannyB

This is good news!  When you think about it though, tracking net worth can be tricky taking into account the various components that go into it, but I have confidence the developers assigned to this important component!

RobWilk

I very much need this report - though I know simplifi can't even tell me yesterday's balance on any account...  If I ever switched away from Simplifi, this would be what made me leave.  I came close to leaving today, but simplifi's financial institution connections are also hard to beat.

bbertchie

RobWilk said:

I very much need this report - though I know simplifi can't even tell me yesterday's balance on any account...  If I ever switched away from Simplifi, this would be what made me leave.  I came close to leaving today, but simplifi's financial institution connections are also hard to beat.

Agree - we have been asking for things for over two years now and no change.  If it weren't for the bank connections and bill scheduling I too would be gone.