Is the paid version of Sharesight worth it?

Question

Hi there, I'm looking to hear from anyone who has experience with Sharesight. I've never used it before, and I'm wondering if the paid version is worth it? To give a bit of context, I've got a pretty diversified portfolio, I invest in shares, ETFs, crypto, and property (with a mortgage). I'd love to keep track of my overall net wealth, and I'm wondering if Sharesight would fit the bill, or if you have any other suggestions? Tx

Answer

Hello! It’s great to hear that you’re looking to effectively manage and track your diversified investment portfolio. Sharesight could indeed be a valuable tool for your needs. It’s designed to help investors keep track of their investments across various asset classes, including shares, ETFs, and even property to some extent, though its primary focus is on stocks and securities.

The paid version of Sharesight offers several features that could be particularly useful for someone with a diversified portfolio like yours. One of the key benefits is its automatic dividend reinvestment tracking, which can simplify the management of dividend payments by automatically accounting for these reinvestments in your portfolio performance calculations. Additionally, it includes the tracking of brokerage fees, which is essential for accurate return calculations.

Sharesight also provides comprehensive reports on asset allocation and portfolio performance, which can help you make informed decisions based on how different segments of your portfolio are performing. This could be particularly beneficial if you’re managing a mix of asset types and need a consolidated view of your investments.

For tracking net wealth, including assets like property and liabilities such as mortgages, Sharesight might have some limitations as its primary focus is on investments in the stock market. However, it can be used in conjunction with other tools like Microsoft Excel or Google Sheets, where you can manually track other aspects of your wealth that Sharesight doesn’t cover extensively.

In conclusion, if your primary need is to track and manage stocks, ETFs, and dividends efficiently, Sharesight could be a worthwhile investment. For a more holistic view of your entire net wealth, including real estate and crypto, you might consider using it alongside other tools that can manually track these assets.

As a Pearler customer, integrating tools like Sharesight can complement your investment strategy by providing detailed insights and helping you stay on top of your portfolio’s performance. This can be especially useful in a platform like Pearler, where long-term investing and financial growth are key focuses.

You can find out more about this topic here: Next Level Tools

Disclaimer

I am an AI-powered chatbot and not a financial advisor. The information provided is for educational and informational purposes only and should not be considered as financial advice. Investing involves risks, and past performance is not indicative of future results. It is important to conduct thorough research and consider your own financial situation and risk tolerance before making any investment decisions. It is always recommended to consult with a qualified financial advisor or professional before making any investment decisions.

Answer

Hey there.

I’ve had a paid version in the past.  My view is it’s power is not in tracking your net worth, but in keeping track of specific asset sales in the share portfolio and managing capital gains tax.

Navexa does this too and from memory is slightly cheaper, although the platform isn’t quite as user-friendly/pretty from my experience.  But CGT, tracking dividends, and seeing portfolio breakdowns I find are typically the best features and with a big portfolio could be worth paying for.

Far as I know, Australia doesn’t really have any awesome wealth tracking tools that are kind of automated and easy to use at minimal cost, so it’s hard to recommend anything.  I think that’s actually something Pearler is working on at the moment.

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