Estimated Income-Bank CD's and Bank Money Market accounts

Gary R

This topic has been discussed previously, but just wanted to know if Quicken made any change to this issue.

Is there a way to set up each bank CD in the security view in order to view the estimated income in the Portfolio View? The report below is from my Vanguard Brokerage. The brokerage list each security and CD's. However, I would like to be able to add CD's purchased at my bank to this report to get a better "estimated income number".

Jim_Harman

The problem is that unless you are tracking them manually in a brokerage account, CDs purchased directly from a bank are in Banking accounts and cannot be displayed in the Investing > Portfolio views. This applies even if you have set the Account Intent to Investing.

With the Account Intent set to Investing, Quicken tries to include them in reports such as the Investment Performance and Asset Allocation Reports, but it does not work correctly.

There is a related Idea post here

https://community.quicken.com/discussion/7950001/total-portfolio-allocation

Gary R

Thanks Jim for your reply

I was hoping that maybe Quicken had made some changes to this issue.

I guess I can always set up an Excel spread sheet showing the estimated income for each CD.

mshiggins

Have you considered using income reminders to estimate your income?

Gary R

Reminders —waste of time—not what I'm interested in

I would like to see all interest and dividend estimated income on the portfolio view shown above

volvogirl

Hi, How do you get to that portfolio screen? I have Q2013 so I might not have the same features. I do not have "estimated income" in the drop down for the show box. I did add the Estimated Income column but it shows zero for everything. How do I get it populated with amounts?

Jim_Harman

How do you get to that portfolio screen? I have Q2013 so I might not have the same features. I do not have "estimated income" in the drop down for the show box. I did add the Estimated Income column but it shows zero for everything. How do I get it populated with amounts?

In your version, go to the Security Details view for each security, click on Edit details and Other info, and enter the annual income amount in $/share. Quicken multiplies that by your current holding to get the Est. Income amount. You will be limited to 2 decimal places.

Current versions allow 4 decimal places and can set the income automatically using the Annual Div/share quote data (not available for all securities).

Jim_Harman

@Gary R One workaround to get the bank CD income to show in the Portfolio views, asset allocation, etc. would be to create an offline brokerage account and one or more fake mutual funds.

Set the account to Separate so it will not affect your net worth. or other reports.

In the fake fund(s), set the asset class to Cash. Go to the Security Details and set the estimated income to an estimate of the interest rate of your CDs, i.e 5% = .05. If you have several CDs with different rates and you want to go to the trouble, you could make several corresponding fake securities.

Then in the brokerage account, Add shares of the fake fund(s) = the value of your CDs with a share price of 1.00.

This should be pretty low maintenance once you have it set up, you only need to adjust the share balance(s) from time to time to match the value(s) of your CDs, and adjust the interest rates.

q_lurker

@volvogirl I suspect @Gary R customized a portfolio view to those columns and customized the name of the view to Estimated Income. I am pretty sure you can do that also in QW2013. Later releases allow more such saved and customized views.

Jim_Harman

I forgot to mention that if you click on the Customize button in a Portfolio view, there should be a column called Estimated income. You can add that to any view.

Ps56k2

nope - zero - and the Estimated Income would be for …. what period ?
my Schwab online has it at the top of the screen for the Annual Income, and the Remaining yearly income -

Jim_Harman

@Ps56k2 As described above, you must set the annual income per share manually on the Security Detail page by clicking on Edit details then Other info for each security you own.

On current versions of QWin, there is an option to have it use the data from the quote feed to set the income automatically. This is at Investing > Portfolio > Options > Portfolio preferences. Check the "Use annual dividend from quote feed" box to enable this option. The dividend data is only available for publicly traded stocks and ETFs, not for mutual funds.

Ps56k2

tnx .. I’ll look at it later

yup - just tried it with the Preferences set - works great -

Gary R

Well, I found a solution to my issue. I simply only wanted to view my "estimated income" on my portfolio view as shown in my original post. Solution——Don't buy CD's from brick and mortar banks——buy only from brokerage firms. All my CD's bought from brokerage firms are listed separately with the estimated income. PROBLEM SOLVED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Jim_Harman

Well, I found a solution to my issue. I simply only wanted to view my "estimated income" on my portfolio view as shown in my original post. Solution——Don't buy CD's from brick and mortar banks——buy only from brokerage firms. All my CD's bought from brokerage firms are listed separately with the estimated income. 

That would be a good way to do it. Also at banks, each CD is in its own account in Quicken, so if you have a bunch of CDs, you will have a lot of accounts. At a brokerage, they are all in the brokerage account like other securities. See this discussion for info on tracking brokered CDs.

https://community.quicken.com/discussion/7937772/how-to-record-a-brokerage-cd

Or if you have an account at Vanguard, you could simply leave money in the Federal Money Market settlement fund VMFXX, currently yielding 5.27%. At Fidelity, SPAXX is currently yielding 4.96%. These rates are not fixed like CDs and not FDIC guaranteed, if that matters to you.