How do you add a CD as an investment option in an already existing IRA fund?

psolera

I have an IRA account which has several stocks and a cash sweeps account. Nothing exceptional. I've been monitoring it for years. Now, my investment advisor suggested we take some of the sweeps account and invest in a CD which was getting really good rates right now. But, there is no option within the ACTION dropdowns that allows me to add a CD. The closest I could find was a Buy Bond option. I thought maybe I could use it to "transfer" money from the sweeps account to the "Bond". That way the cash sweeps account would reflect the correct amount and the overall value of the account would be maintained. But, that only removed the money from the sweeps account and did not show the corresponding value transferred the "Bond". Does anyone have a good solution to this issue? Thanks for listening

Rocket J Squirrel

Go to the Security List and create a new security of type CD. Then go into your account register and Buy shares of that security, priced at $100.00 per share.

psolera

Thank you - Rocket J Squirrel. I used that work-around and it worked out. I was hoping Quicken Support had a more formal solution. But, I guess not. Anyway - - thanks for the help. Much appreciated.

Rocket J Squirrel

psolera said:

I used that work-around and it worked out. I was hoping Quicken Support had a more formal solution.

I don't know why you consider this a workaround. This is the way brokered CDs are handled.

What else did you expect from an investment as simple as a CD?