<topic sku="core" tNum="254641" author="sallyh" xmlns="x-schema:hhTopicSchema.xml"><index><title>Create a retirement account</title><category fLocale="cdn">investing</category><klink type="prcdr">How do I create a retirement account?</klink></index>
<content>
<!-- This file included Canadian-specific markup -->
<extend>
<tease>Why?</tease>
<reveal>
<p>Money can help you track your retirement accounts so you can plan for the future. You can track retirement accounts such as <glossary tNum="286928">401(k)s</glossary>, <glossary tNum="286929">403(b)s</glossary>, <glossary tNum="287025">Keoghs</glossary>, <glossary tNum="287084">SEPs</glossary>, <glossary tNum="287078">Canadian RRSPs</glossary>, <glossary tNum="287080">SIMPLEs</glossary>, and <glossary tNum="287023">IRAs</glossary>.</p>
</reveal>
</extend>
<ol>
<li>On the <emph>Accounts & Bills</emph> menu, click <emph>Account Setup</emph>.</li>
<li>Click <emph>Add a new account</emph>.</li>
<li>Enter the name of the investment firm or bank that holds the retirement account, and then click <emph>Next</emph>.</li>
<li>Click <emph>Retirement</emph> as the type of account you want to create, and then click <emph>Next</emph>.</li>
<li>Enter a name for the account, and then click <emph>Next</emph>.</li>
<li>Click the specific type of retirement account you're creating, and then click <emph>Next</emph>.</li>
<li>Follow the instructions on the screen.</li>
</ol>
<extend>
<tease>Tip</tease>
<reveal>
<p>If you make regular contributions to your retirement account through your paycheck, you can enter the pretax contributions by setting up your paycheck as a scheduled recurring transaction and itemizing it.</p>
</reveal>
</extend>
</content>
<footer>
<extend>
<tease>What are some helpful hints for using retirement accounts?</tease>
<reveal>
<p>You can quickly update your 401(k) and 403(b) accounts with Money's 401(k) Manager on the <emph>Investing</emph> menu.</p>
<p>Update non-401(k) or 403(b) accounts, such as IRAs, with the Update Retirement Account wizard.</p>
<ul>
<li>To use the Update Retirement Account wizard, open the retirement account you want to update. Click <emph>More investing tasks</emph> in the left pane, and then click <emph>Update retirement account</emph>.</li>
<li>If you withdraw funds from your retirement account or change your mix of investments, you'll get more accurate reports if you enter the buy and sell transactions before going through the Update Retirement Account wizard.</li>
<li>If your retirement statement doesn't show prices or quantities of shares, when you use the Update Retirement Account wizard, enter the number of shares as <emph>1</emph> and enter the total value of your holdings as the price. Money then automatically calculates the correct market value. However, some reports won't be complete because Money won't have the exact price and quantity of the shares.</li>
<li>If your retirement statement shows the gain or loss for your investments, don't enter it in the Update Retirement Account wizard. The wizard calculates this for you.</li>
