manual entry of annuity

Mathew Krejci

Met Life does not support Q.  Is it possible to download my Met-Life anniuty statement into Q?

J_Mike

I too have an annuity account with MetLife and am currently taking monthly retirement distributions.
No, MetLife does not support any downloading of the data to Quicken - other than pdf files of statements.
Fortunately they do provide a wealth of data at their web site and I visit the site weekly/monthly to keep my Quicken account updated manually.

Mathew Krejci

JM said:

I too have an annuity account with MetLife and am currently taking monthly retirement distributions.
No, MetLife does not support any downloading of the data to Quicken - other than pdf files of statements.
Fortunately they do provide a wealth of data at their web site and I visit the site weekly/monthly to keep my Quicken account updated manually.

JM, Thanks for your answer.  What I need help on is how to manually enter it into an new investment line. Specifically: how to do it.  Can you guide me, please?

J_Mike

JM said:

I too have an annuity account with MetLife and am currently taking monthly retirement distributions.
No, MetLife does not support any downloading of the data to Quicken - other than pdf files of statements.
Fortunately they do provide a wealth of data at their web site and I visit the site weekly/monthly to keep my Quicken account updated manually.

There are many 'flavors' of annuities - not all of which I fully comprehend.

My particular case is a Deferred Variable Annuity. At origination, cash was transferred over from other retirement accounts (e.g., IRA's & 401k's). The funds were invested in various MetLife institutional funds (not publicly traded funds).
The investment purchases were recorded simply as Buys - using data (units and unit prices) from ML's web site.
ML does an annual reallocation - doing Sells and Buys to balance the fund allocation. Again, I get the info for these transactions from the site statements and manually enter them into Quicken. Same for annual fees.
Monthly distributions involve Sells of a portion of each holding to generate the cash - which is automatically transferred to my checking. Again, I manually enter these monthly Sell transactions in Quicken.

There is another aspect of this annuity that I do not track in Quicken. That is the death benefit - a figure based on the maximum market value of the account.
I track only the current market value in Quicken.

One last point - in setting up the account in Quicken, I used IRA as the account type as this fits with how the tax related info is reported to the IRS.

Any other questions ??