tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/46-how-to-reflect-a-change-in-value-for-a-401k-accountInfinite Kind: Discussion 2018-10-18T13:53:41Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/1295042009-04-13T17:41:41Z2009-04-13T17:41:45ZHow-To reflect a change in value for a 401(k) Account<div><p>Good afternoon Brian,</p>
<p>Thank you for your reply (see previous discussion with the same
name - closed too soon if you ask me - and below).</p>
<p>"Jerome, From within your investment account, choose
tools->edit securities and edit the price for 401(k) from $100
to $50."</p>
<p>Unfortunately this doesn't help me at all since the "securities"
screen is empty. Now, maybe I didn't setup my account 401(k)
account correctly and somebody can help me with that.</p>
<p>I creates a new account (a Bank Account if I remember well). Put
my 401(k) balance as of 12/31/08 (let's say $100).</p>
<p>Since then, I withdrawal some money from my checking to this
account every month.</p>
<p>Few days ago, I received a new statement and the global value of
my account dropped from, let's say, $100 to $75 even including
money I added since January.</p>
<p>How to reflect this change of value. Or I just did it plain
wrong and created the wrong kind of account to begin with?</p></div>Jerome Istintag:infinitekind.tenderapp.com,2009-01-14:Comment/1295042009-04-16T14:16:29Z2009-04-16T14:16:29ZHow-To reflect a change in value for a 401(k) Account<div><p>Jerome, As the original author of a conversation, you may
re-open it at any time. We mark convesations as "resolved" more as
our own accounting. It let's us quickly know that we have responded
and are awaiting reply (if necessary) from the user.</p>
<p>It would have been more appropriate to set up your 401K in an
investment account. In that case you would have edited the value of
your 401K as I described. But I believe you can continue to use
your account as you have set it up if you wish. I would create a
new category (tools->edit category) titled "401K increase in
value" (an income category) and a new category "401k decrease in
value" (as an expense category). You could then enter transactions
to reflect changes to the value of your account that are not
determined by you either adding or withdrawing funds to the account
but instead reflect changes to the underlying value of the account
itself. However, while I believe this would work. It would probably
be preferable to set up your account as an investment account and
add the cash and securities to that account. Then, the changes to
the cash balance could be reflected by deposits/withdrawals and
changes to the 401K itself could be reflected by changes in value
to the securities represented in your 401K.</p></div>Brian Adlertag:infinitekind.tenderapp.com,2009-01-14:Comment/1295042009-04-17T01:20:15Z2009-04-17T01:20:16ZHow-To reflect a change in value for a 401(k) Account<div><p>Hello Brian!</p>
<p>Thanks for the tip about reopening a discussion.</p>
<p>Anyway, I tried to follow your advice and created a
investment<br>
account. It's when I came to the securities thing that things
became<br>
complicated. I'm a zero in finance and I'm not interested in it.
I<br>
paid a company to manage my account and these guys are investing
with<br>
401 (k) in 15, 20 different funds.</p>
<p>I'm guessing the securities will be all these funds, since I'm
asking<br>
some weird questions about length, %...</p>
<p>I'm not interested in a close follow-up of all these funds. I
just<br>
want to have a balance at the beginning of the quarter, add my
monthly<br>
withdrawals and change the value of the account at the end of
the<br>
quarter, that's it.</p>
<p>I guess I will use the first solution which fit my needs
better.<br>
Thanks for trying to help me anyway.</p></div>Jérôme Istin