How do I update 401(k) holdings using quarterly statement?

wade206

Is there a 401(k) wizard for Mac?  I would like to easily update holdings, including loan payment and inter fund transfers.

John_in_NC

My first question to you would be is if the holder of your 401k provides Quicken support? That would be your easiest option to let it download and setup your holdings.

But in answer to your question, no, there is no Wizard. You certainly can enter things manually, but you would have to setup all your holdings and download the price histories. That isn't hard, but I don't know how interested you are in doing that. And, you would have to stay on top of it. You could use Add shares if for each holding if you didn't want to worry about how cash got into the account. Or, use Buy shares if you do.

I know people who aren't as interested in the details, and they simply setup an asset account and adjust the balance to the quarterly value simply to track the amount. That works if you simply care about the present value at that point in time.

I have not taken a loan out against my 401k, so I don't know the precise details on how that works. But, from what coworkers say, the loan doesn't sell off any holdings, so I don't know if you would see any details in your 401k account. My guess is that you would represent that as a liability account separate from your investment account. The transfers would be to the account where the money went/paid back. Others can provide respond with more details.

John_in_NC

My first question to you would be is if the holder of your 401k provides Quicken support? That would be your easiest option to let it download and setup your holdings.

But in answer to your question, no, there is no Wizard. You certainly can enter things manually, but you would have to setup all your holdings and download the price histories. That isn't hard, but I don't know how interested you are in doing that. And, you would have to stay on top of it. You could use Add shares if for each holding if you didn't want to worry about how cash got into the account. Or, use Buy shares if you do.

I know people who aren't as interested in the details, and they simply setup an asset account and adjust the balance to the quarterly value simply to track the amount. That works if you simply care about the present value at that point in time.

I have not taken a loan out against my 401k, so I don't know the precise details on how that works. But, from what coworkers say, the loan doesn't sell off any holdings, so I don't know if you would see any details in your 401k account. My guess is that you would represent that as a liability account separate from your investment account. The transfers would be to the account where the money went/paid back. Others can provide respond with more details.

wade206

Thanks for the reply! I recently moved from the PC version to the Mac version and am finding some of the PC features are not available on Mac.  I'll try your suggested work arounds.