Taxable Retirement Accounts

Aaron Garnett

Quicken Classic for Mac offers ten (10) options for classifying Investment & Retirement accounts. Six (6) of these - 401(k), 403(b), Roth IRA, SEP IRA, SIMPLE IRA, Traditional IRA, and Roth 401(k) are automatically grouped in the "Retirement" sidebar account group, while 529 accounts are grouped with "Education." Brokerage and Other account types are grouped within "Brokerage."

However, many investors use regular Brokerage accounts as part of their retirement savings portfolio. (For example, investors who have maxed out their 401k or IRA contributions and/or with to diversify the tax treatment on their investment gains).

I am suggesting a new feature enabling users to specify that a brokerage account is specifically earmarked for Retirement, so that it is listed in the Investing > Retirement account group. This could be achieved by simply adding another account type called "Taxable Retirement" or enabling the user to toggle an account settings for any individual "Brokerage" type account that it should override the normal grouping and instead be grouped with "Retirement."

I am aware that Quicken enables users to deliberately misclassify their taxable Retirement account as another type, for example, a Roth IRA, but this disables the capital gains reporting features since the only allowed Retirement account types are exempt from capital gains taxes. Likewise, Quicken enables users to classify these are Brokerage accounts, but then the balances are excluded from the Retirement investment subtotals. Without this feature, Quicken Classic for Mac does not satisfy the financial planning needs of users who invest some of their retirement savings in taxable brokerage accounts.

jacobs

Essentially, this feature is a fully or mostly subset of the long-desired feature request to allow users to customize their left sidebar however they want, placing accounts in the groups/subgroups that fit their needs (including custom subgroups, such as grouping tax-deferred and tax-free retirement accounts). Add add your vote for this existing feature request:

https://community.quicken.com/discussion/7907965/add-an-option-to-re-order-accounts-in-the-sidebar-q-mac-1-merged-vote

Quicken Anja

Hello @Aaron Garnett,

Thank you for taking the time to reach out with your request.

I went ahead and changed your post to an Idea so other users who have the same or a similar request can vote on your idea by clicking the up arrow (see below).

Ideas are also reviewed by our Development and Product teams in order to improve Quicken and implement new features requested by customers.

Thank you!