Net Worth Feature: Share your feedback here!
Comments
-
Are the HELOC accounts connected to the bank? Does the balance show as positive in the account itself? I think some screenshots showing the issue would be helpful.
Thanks!
-Coach Natalie
0 -
Yes, the HELOC account are connected to the bank. Yes, the balance does show as positive on both the bank website and in Simplifi. I'll DM some screenshots to you.
0 -
I like it, but the Debt to Asset Ratio doesn't seem to be working — it's saying "You have more debt than assets. Consider ways to pay down what you owe or build up your assets." This is not true.
0 -
@ronshapiro, thanks for confirming!
No need to send data yet. It sounds like this is an aggregation issue with the bank versus an issue with the Net Worth feature specifically. You will want to create a separate post to work on the balance issue. Once that's corrected, Net Worth should also display correctly.
-Coach Natalie
0 -
I am legally blind and use a screen reader to navigate. Typically the site works pretty well, but right now over the Net Worth page there must be a dialog for the feedback button as this is all I can select. I cannot close this by hitting Esc or clicking elsewhere on the screen. Since I am not totally blind I can see there are things on the screen, but I cannot tab to them or hover over them with the mouse as I believe the overlay for the feedback link is blocking them. Would be interested in importing more accounts if you could get this working asn add the MetLife retirement plan through Alight solutions I requested about a year ago.
0 -
This should now be fixed!
-Coach Natalie
1 -
As others have mentioned, why are these two numbers different???
I do not have any accounts excluded from the "New Worth" graph
0 -
I love the new Net Worth report both on the dashboard and stand-alone. Please add a decimal point to the left axis. As it is now, it is not very useful. See screen shot.
0 -
Hey! This difference may be due to the balance type you've selected in your accounts list. You can choose between Bank Balance or Balance with Pending in the main accounts list (using the 3-dot menu next to the "+ New" button), however, by default, the new Net Worth feature displays only your Balance with Pending. This could be the cause in difference between the two that you're seeing.
If that's the cause, is that something you'd like to see? i.e., having your selected balance type also control what's used in the new Net Worth feature?2 -
Understood, that was the difference. I had it set to "Bank Balance", not "Balance with Pending". And yes, that is definitely something I'd like to see. Otherwise it causes confusion with differences in values, making you question if one or both are incorrect. I think it should adjust with the main "Balance type" setting.
The only reason they are so significantly different is because my Venmo connection is broken which has been offline for almost a month. It incorrectly shows shows a -$7,046 balance with pending (It should be +$28). Hopefully, someone at Quicken can escalate that connection issue - it seems to be causing other issues, as seen in this example
3 -
I'm seeing a small discrepancy between my "All Accounts" total and my Net Worth with all accounts selected. It's a small difference, but the totals should be consistent:
0 -
I think your issue was addressed in the previous comments from me and Coach Matthew.
2 -
The statement "You have more debt than assets" feels incorrect when the Debt-to-Asset ratio is below 100%.
0 -
I think their percentage formula is incorrect. I believe 50% is meant to be, for example, $50 assets & $50 debt.
Currently though, it would show 50% if you have $100 assets and $50 debt.
It should be anything above 50% means you have negative net worth and anything under 50% means you have positive net worth. I assume your 67% comes from, for example $100 assets and $67 debt, $67÷$100=67%.
Looks like Quicken needs to take $100 assets and "subtract" the -$67 to get $167 total dollars. Then the $67÷$167=40%, which is I think what their intention is.
That way, if you have $100 assets and $100 debt (Net worth $0), it's $100÷$200=50%
0 -
Hey! Thanks for flagging this. It appears we just have the text description for this debt to asset ratio range incorrect, which we'll fix. The calculation itself should be working properly, but definitely let us know if you're seeing otherwise. Thanks again!
1 -
As Coach Matthew mentions above, I think the formula is correct (& simpler than laid out here, although I enjoyed your more complex thought process…lol).
DTA ratio = Total Debt / Total AssetsI calculated mine and the percentage showing is correct. Hopefully they can get the text updated, though. It scares me every time I see it.
2 -
@Coach Matthew Actually, thinking about this logically, the way the percentage is calculated and the "Risk by percent range" does make more sense than what I mentioned… because if you have more debt than assets, that's always a huge issue.
However, the "Risky" area range should probably say "80-99%+" because if you do have a negative net worth, it will be over 100%. The way this is showing, it appears that you cannot have over 100% debt-to-asset ratio… but you certainly can with the way it is calculated and intended.
@nicolekiamichi , you beat me to it! I have a tendency to overthink things 😂 I did realize how their formula was calculated in the more simple terms, but assumed with their ranges not showing it possible to go over 100% that maybe the percentage formula was wrong LOL.
1
