Paycheck purchases shares in retirement account?

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Gabby1983
Gabby1983 Member
edited August 2022 in Investing (Windows)
How do I prevent my pay check from purchasing shares in my retirement account? I would rather it make the deferment as a deposit into the account instead of purchasing shares as the price/share is never correct using this automated method. It used to transfer the deferment as a deposit into the retirement account which is preferred for my needs. This account has 1 position/Investment

Thanks

Answers

  • Sherlock
    Sherlock Member ✭✭✭✭
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    A paycheck transaction may not purchase shares in an account.  So, we can not prevent what can not be done in the first place.  A paycheck transaction may only transfer cash to an account.  I suggest you examine the paycheck transaction as a split to confirm: select the paycheck transaction in a register and press Ctrl + Shift + S
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
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    I suspect the retirement account somehow changed into a Single Mutual Fund account. If so, any cash transfer in will automatically buy shares because such an account cannot contain cash.
    This account attribute can be turned off and the cash will transfer in as desired.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

  • Gabby1983
    Gabby1983 Member
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    Sherlock, it started to do it after I added a new account. Yes, it actually purchases the shares when I enter my paycheck. It used to transfer into the retirement account as a deposit. Rocket Squirrel, you are correct, there is only one position in this particular retirement account. Its a 459 Account. I have used quicken for 20+ years so I am very familiar with Quicken. It started when I added a new Roth account so I will change the highlighted area as you suggest and see if that makes a difference for the next check. Thanks!
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