Play the Creating new investment accounts video. Play the Creating new investment accounts video.
Creating investment accounts is the first step in entering your investment portfolio into Money. Create a separate investment account for each brokerage firm statement that you receive. This way, you can accurately compare your investment records with your statements.
Remember that one investment account can contain several different investments (An asset that an investor purchases with the hope that it will grow in value over time, such as stocks, bonds, mutual funds, certificates of deposit (CDs), and money market funds.).
1 Make sure you have all your investment records handy.
Repeat steps 2-4 for each brokerage firm that sends you an account statement.
After you create the investment account, create a record for each investment in that account. Then enter your holdings for each investment and update them as you make trades.
What if I personally hold an investment (rather than through a broker)?
Investments you hold personally, rather than through a broker (Typically a salesperson who makes a commission by helping execute purchases and sales of stocks, bonds, and other investments.), should be tracked in a single investment account. After you've created the investment account, create an individual investment for the actual stock, bond, or other security.
What if I need to create a retirement account?
In Money, you can track retirement accounts such as 401(k)s (A retirement plan into which contributions are made by employees and, sometimes, employers. Employee contributions and earnings from a 401(k) arenÆt taxed, but early withdrawals are.), 403(b)s (A retirement plan in which contributions are made by nonprofit and public service employees and, sometimes, employers. Employee contributions and earnings from a 403(b) arenÆt taxed, but withdrawals are.), Keoghs (A retirement plan for the self-employed. Money invested in a Keogh is tax deductible and earnings from the plan are tax-deferred. Withdrawals from the plan are taxed.), SEPs (A pension plan for owners of small businesses and the self-employed. Money invested in an SEP is tax deductible and earnings from the plan are tax deferred.), Canadian RRSPs (A Canadian retirement plan that allows you to save on a tax-deferred basis. Amounts contributed to an RRSP are tax deductible, and income earned is tax-exempt as long as the funds remain in place. Capital and income from the plan are fully taxable once funds are withdrawn from the plan.), SIMPLEs (A simplified retirement plan for employers who employ 100 or fewer employees who earn $5,000 of compensation or more during the year. The plan can be established either as an IRA or as a 401(k), and contributions to the plan are tax-deductible. Earnings from the plan are tax deferred.), and IRAs (A tax-deferred retirement plan for anyone with employment income. IRAs offer great investment flexibility. Maximum contribution is $2,000 per year. If you have no income but receive alimony, you still qualify for an IRA contribution.). To get started, see Create a retirement account.
Which investment accounts should I set up?
How do I enter my current investment holdings?
How do I use Investment Portfolio views?
Should I create an investment or an investment account?
Can I use the same investment in multiple investment accounts?