

Show HN: Wealth+ – always know how much you're worth - aalittle
http://wealthapp.ca

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JacobAldridge
Installed!

One of the best things I did last year was updating my monthly financial
reports to include a Personal Balance Sheet. It suddenly refocused us on "what
will impact our wealth" rather than "how much income did we make this month".
I write it longhand in coloured pens because I like that tangibility, but
having some graphs etc would be nice as well.

I also add two other metrics (haven't played with the app yet, still
downloading, so you may have these / others). I got them both from Kiyosaki's
_Cashflow Quadrant_.

The first is a ratio of Net Wealth to Total Liabilities. Doesn't tell us much
by itself, though it's good to see it trending upwards.

The second is the percentage of monthly Passive (eg, Rent) and Portfolio (eg,
Dividends) Income to monthly expenses. So if it costs you $10k/mth to live and
you have rental income of $2k you'd be 20% of the way to covering your life
costs without 'actively' working. Also nice to see trending upwards.

~~~
aalittle
Love the Net Wealth/Liabilities ratio - will add that to the backlog. Other
idea is good, too, but would need some time to think about how this could be
worked into the existing app. Thanks for the suggestions!

