Adding an existing IRA account

Discussion in 'Microsoft Money' started by moneyuser101, Jun 24, 2007.

  1. moneyuser101

    moneyuser101 Guest

    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?
     
    moneyuser101, Jun 24, 2007
    #1
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  2. moneyuser101

    Dick Watson Guest

    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" <> wrote in message
    news:...
    > 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?
     
    Dick Watson, Jun 24, 2007
    #2
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