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IRA Tracking

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1. 1 Angie Rauscher on 14 Dec, 2012 08:16 PM

   David,

   Yes, Moneydance does allow tracking of multiple IRA accounts. I encourage you to download our free trial version and experiment with the program before you decide if you would like to purchase it.  The demo version is fully functional and allows you to manually enter 100 transactions. Imported transactions are not limited, so you'll be able to fully test connections with your bank and import data from another program.  If you decide to purchase the program at a later date you can keep all your data, the license key simply unlocks the ability to manually enter more transactions.

   For more information on how to get the most out of your trial period, check out our blog post on the subject.

   Please let me know if I can be of further assistance, and thank you for your interest in Moneydance!

   Angie Rauscher
   Moneydance Support

2. 2 dadingler on 15 Dec, 2012 03:49 PM

   Hi Angie, Thanks for your reply,

   The MoneyDance program has file set up for Banking, Investments, Credit
   Cards, Networth and Assets. What I don't see is a set up for RETIREMENT. I
   would like to see a file for Retirement that could be expanded for both
   spouses. Sub-Accounts if you wish. My vision is that it would be
   structured as shown:

   Retirement Accounts:
       Spouse 1:
           IRA Accounts:
               Investment firm 1
               Investment firm 2
               Bank 1 (CD's & Cash accts)
           401 K account (if working)
               investment 1
               Investment 2

       Spouse 2
           (Same setup as above)

   The main reason for this suggestion is that for those of us that are over
   the age of 70 1/2 we must take a distribution from our retirement accounts.
   The problem with the current setup of MoneyDance and also Quicken is that
   all these accounts are lumped in together with regular investments and
   values have to be manually separated for each spouse in order to calculate
   the required minimum distribution for each spouse. It would be nice if you
   could go to your record keeping program and select those files and use the
   bottom line number to use for the calculation.

   Thanks for listening,

   Dave

3. 3 dwg on 16 Dec, 2012 11:16 PM

   I doubt if a structure like that would work as it is combining Bank and Investment accounts together, it may be possible if Moneydance had a concept of custom "views" but I do not see that sort of capability.

   As a thought have you looked at customizing a report and seeing if that can display what you want?

4. 4 dadingler on 17 Dec, 2012 02:43 PM

   Thanks for your reply, dwg,

   The structure that I described in my previous post may not be currently
   available in MoneyDance or Quicken, but is possible since it was available
   in Microsoft Money and I have used it in that program. I'd still be using
   it if they would have kept the online tools.

   Dave

5. 5 -Kevin N. on 17 Dec, 2012 04:46 PM

   Hi Dave,

   There are some very clever people who have put together a couple of programs so that MS Money users can continue to use online banking and update price quotes.

   https://sites.google.com/site/pocketsense/

   http://code.google.com/p/hle-ofx-quotes/

   I've been using both of these programs to keep the sunset version of MS Money running in parallel with Moneydance.

   http://www.microsoft.com/en-us/download/search.aspx?q=money%20plus%...

   HTH -Kevin N.

6. 6 dadingler on 17 Dec, 2012 05:40 PM

   Hi Kevin,

   I will look into those links that you provided. I haven't kept Money files
   up to date since I converted to quicken back in mid 2010. I had been
   updating my money files manually until I learned the process from the
   Quicken program which makes the process a snap.

   Thanks,

   Dave

7. 7 Tom Freeman on 08 Feb, 2013 07:08 PM

   Dave,

   Looking at your spread of investment accounts, I am assuming that they are each distinctive accounts with separate account numbers. In Moneydance you would set up each as a separate account and map them with your brokerage for direct download. You can group them on the sidebar with a prefix name (see attached screenshot).

   I believe you may get the functionality you wish for determining necessary distributions by editing the portfolio or investment reports to only include the retirement funds. You can them memorize these reports to be part of the report list on your side bar. I am not sure as to how these distributions are determined so I may be wrong. My assumption is some portion must be transferred out to a taxable account each year. If you can be more specific as to how this needs to happen, I may be of better assistance.

   Tom

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8. System closed this discussion on 31 Mar, 2015 03:51 PM.