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Adding an existing IRA account

 
 
moneyuser101
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      06-24-2007, 09:29 PM
Hello,
I want to add my Dain Rausher IRA to money as a retirement option also my
wife has a retirement plan. How do I go about doing this?


 
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Dick Watson
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      06-24-2007, 10:10 PM
You don't Money mention version/edition. That might be vitally important
here, now that Microsoft has balkanized the product.

The general answer for all but M07 Money Essentials (MEss) is to create an
"Investment Account" for each IRA and/or 401(k). You can define these
specific types of Investment Account and Money will treat it more or less
correctly from a tax estimating and reporting perspective right up until the
time you go to do distributions. Money doesn't really do well with these--at
least in terms of taxes and so forth--but you can get there with some of
your own analysis outside of Money. Once you have defined the Investment
Accounts, you define what Investments these accounts hold. Some investment
vehicles are easier to deal with than others.

Your investment trustee/plan provider may be supported for Money to get the
data online. Your mileage may vary, but some users are really happy with how
this works and others have no end of problems. I don't get the data online
so I have good results at the expense of my time to collect and key in the
data.

401(k)s can be more complicated depending on the features of the plan and
how completely you want to track the investments and things like employer
contribution. You didn't mention the type of retirement plan, but some are
just not worth even trying to account for in Money anywhere but in Lifetime
Planner.

"moneyuser101" <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
> I want to add my Dain Rausher IRA to money as a retirement option also my
> wife has a retirement plan. How do I go about doing this?



 
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