Last week, I asked you how you are keeping track of your portfolio. There are so many options out there, from simple to extreme, that I thought it would be interesting to hear how real readers are tracking their investment performance. I put no stipulations, and even threw out a few suggestions. I found the results to be very interesting. It seems most readers are still NOT using personal finance software or online apps. Instead, the are choosing to track their portfolios manually using Excel.
Here is the breakdown of what everyone said:
Excel: Excel, or similar spreadsheet program like Google Docs, was the most popular choice by readers by 2-to-1. I was very surprised by this, as I would have thought more people would have transitioned to software or apps. Why were people choosing Excel? Many people wrote things like “I only update things once a month so it is quick and easy”, or “I’m very un-tech savvy”, and finally, “I prefer Excel because I can customize it however I want”.
I hope that some of these individuals do try out a free app like Mint or Adaptu. There are so many great tools out there that can make this process simple and painless, so get out of your old ways!
Broker/Bank Website: Another bunch of individuals relied exclusively on their bank or broker’s websites. Some bank websites have some great systems in place to accommodate other accounts. For example, one reader shared how he could import everything into USAA. Many people stay with their broker’s websites because of the tools their brokers offer. Vanguard was mentioned several times, especially because of their Portfolio Tracking Tool and for the ability to host other accounts in one place.
Yahoo! Finance: Two readers used Yahoo! Finance Portfolios almost exclusively, or in conjunction with Excel. One mentioned it was great for checking day to day positions, since it updates instantly. However, Yahoo! Finance Portfolios can be difficult to track trades and other transactions, so both used it mainly for position monitoring.
The best of the rest. Only one other reader besides myself uses Quicken, although I may have convinced another reader to use it. I love Quicken because it integrates everything into one spot. The reader who used it mentioned the easy to access and print reports, which I also love at tax time. Another user used Mint, and liked how it instantly updates everything in the cloud. And the free price doesn’t hurt either.
Readers, will these suggestions or uses make you consider a different way of keeping track of your portfolio? Are you happy with your method, or are you looking for something easier?
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This post was written by...
Robert – who has written 317 posts on The College Investor.
Robert is the founder and editor of The College Investor, a personal finance site dedicated to young adult and college student finances. You can learn more about him here and connect with him on Twitter or Facebook.
{ 9 comments… read them below or add one }
Interesting how many people use Yahoo Finance. That surprises me. As far as the other two, I figured as much. I still like using Quicken and checking our statements with our financial companies.
Thanks for mentioning Adaptu. I don’t plan on switching my method of keeping track of investments currently since I really like how I do it. And it’s one of your mentioned methods. Guess which one?
I keep track with excel (I update our net worth once a month or so), but mainly by going to the broker firm’s website.
I also like a site called NetworthIQ which I update once a year. It tracks all of my other years, and I have been amazed with our growth!
For maximum flexibility nothing beats spreadsheets!
I like Excel and I also use Mint. I use Excel to portion out my paycheck to the penny, but I like Mint to keep track of expenses once they’ve gone out.
I’ve used Excel. It’s allowed for flexibility, but I’m looking to revisit the whole thing actually. It’s on the list of personal finance things to do:)
We use Quicken AND Excel. We can’t get away from the flexibility that Excel offers, especially when my husband is such a pro at utilizing it.
I’ve been looking into using Quicken since it integrates with the tax system I use, but I keep putting it off. Think I’m a bit set in my old ways. Who knows maybe a new years resolution!
I use yodlee.com for everything. I log into one place to view all my accounts, transactions and networth. Such a time saver