401k wizard

Unknown

When will Quicken for Mac have the same capabilities to update 401K's as Quicken for windows dos with the SUPER EASY 401K Wizard that Quicken for windows has????  it is absolutely the ONLY feature Quicken for Mac seems to be lacking now.

Unknown

jacobs

Unknown

Unknown

Unknown

Swede123

So I'm a user who moved over from Windows to Mac and am also frustrated by lack of 401k wizard in Mac.  Here's how I work around it to simulate a similar update as the Windows wizard used to provide.  

Note: 401k statements and tracking work differently in different accounts.  I do not and have never tracked specific investments but just periodically (quarterly) updated values of each type of investment and used the Windows functionality that set share values to $1/share and instead adjusted the number of shares.  If you do it similarly the following should work.  For others, maybe it will give you an idea that works for you.

New cash invested:
- if you or an employer have added cash to your account during the period, you need to use that cash to "Buy" new shares of each investment you hold (enter a new transaction in the 401k register using the "Buy" transaction).  You should see on your statement how much each additional investment you have purchased with cash.  If your statement breaks down if it was your cash vs. employer contribution cash, you can enter one combined transaction or two separate ones.  Use the date of your statement for the date. Do this for each security/fund you own until you have gotten rid of all the cash in your account.  

At this point, your account will show a value equal to the value at the end of last period + new cash you put in which has now been allocated to different investments.  However, you are still missing changes in value to your investments during the period.  

Update Values of Existing Holdings:
- To update values in the holdings from the prior period, my statements show "Gain/Loss" by investment instead of a change in a share value or similar for each fund.  Its just an aggregate gain/loss.  To reflect these gains/losses, use the "Add Shares" for gains and "Remove Shares" for losses (again, enter these using new transactions in the 401k transaction register).  Use the full dollar value of the gain / loss for both the amount AND the number of shares added/removed (this will make them equal to $1/share).  This will simply adjust the value of your holdings.  

at this point, your Portfolio view should show a value that matches your statement as of the statement date.  Good luck, I hope this helps someone.