IRA Allocation question

I have an IRA that doesn't have shares. My initial purchase has four different indexes. The website shows the percentage value of each one for $70,000 initial purchase and the cash value of each. And the interest rate. My financial person at the bank says I'll be receiving monthly statements. I'm not sure how I should enter this information in Quicken if there are no shares. Thanks!

Best Answers


  • It's a little embarrassing that made my head spin, considering I am a free lance bookkeeper :smile:. You might have to break it down a little more. As for contributions I don't plan on making any for now. Not wanting to relay too much personal information, but I feel good with what my financial adviser has set up for me. I'm just wanting to show whatever I can in Quicken. Thanks!
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    OK, here is more detail. From what you have said, your account does not have a publicly traded security such as a mutual fund so we will create a special security in Quicken to track it and pretend that it is a mutual fund.

    -- Go to Tools > Security List and click on Add Security.
    -- Give the new security a name like My IRA that does not match any real security.
    -- Click on the Click Here link at the bottom to create the security manually
    -- Enter the name again as My IRA and set the security type to Mutual Fund, click Next
    -- Specify the asset allocation mix and click OK
    -- Un-check Download asset classes
    -- Click OK

    You now have a security in Quicken that you can buy in the IRA account.

    -- Set up the IRA account with no initial balance or securities (I assume you know how to do this) 
    -- Go to the account and transfer in the cash from where ever it came from. I think you said $70,000.
    -- Buy 70,000 shares of My IRA, using up the $70,000 in the account.
    -- When you get the April 30 statement, say it shows your balance as $70,123. In Quicken Add 123 shares at $1.00 per share, total cost $123 on 4/30.
    -- Say the next month your balance is 69,900. In Quicken Remove 223 shares at $1.00, total cost $223 on 5/31

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  • Thanks to Jim_Harman and Rocket J Squirrel for your responses! I think I'm going to go with Rocket's idea. It does seem weird to me that major financial institutions like BBVA Compass and Global Atlantic are not in Quicken's list of available downloads. 
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