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Updating investment / retirement accounts?

I have a Roth IRA and a 401(k), each with a different institution. IMO, I should be able to hit the "Update Transactions" button and have it suck in all of the details. Nope... for both, I have to go to the web site and manually download the transactions. Makes no sense. People at both institutions have made some vague claim that because it's a retirement account, or an investment account, or whatever, that that just can't work, and that if I were to set up the account as a savings account, it would. Huh? Is this some weird Quickenism, or are the people in charge of this stuff at both institutions just too stupid or lazy to set it up right? Can anyone else update their retirement accounts? Is there a way to click on something in Quicken so that this will magically start to work? Is there some fact I can hit them with that will make them, "Oh, yeah, OK, set it up like this..."?

Reply to
John Oliver
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Yea, I update my retirement accounts at Hewett, Fidelity, and Vanguard. They all update with direct connect with no difficulty at all. But, there is no magic incantation that makes everything work for everyone.

The people are probably not stupid or lazy. Heck, you are probably not stupid or lazy either, but you didn't set it up right either. They just have a job to do, and this is one small part that doesn't get much attention or education, and won't ever get them a raise or promotion.

What are the retirement account investment companies? What version of Quicken do you have? That would be the place to start if anyone is going to help.

-- Jim

Reply to
JimH

I can update my Roth IRA, my Rollover IRA, and my 403B with Fidelity (and Netbenfits for the 403B). Fidelity at one point only allowed direct downloads only for companies that paid extra, not certain if this still exists. I also have direct download from TIAA-CREF. What FI are you have difficulties with? If I were you I would set up a temporary free account at Yodlee or some other personal finance web site to see if it can work with the FI.

I doubt if it is a quicken issue and I am just as confused as you about the claim you should change it to a savings account

Reply to
Art McClinton

USAA and Principal. My Quicken is 2008 Deluxe.

Reply to
John Oliver

I doubt it's a Quicken problem, per se, as well. At least one of the companies I use (USAA and principal) told me that about the savings account, and maybe both.

Reply to
John Oliver

I have many accounts with USAA, including checking, savings, credit card, regular (non-tax-deferred) brokerage, and IRA (Regular and Roth) accounts (I have had IRA mutual fund accounts; now they're all IRA brokerage accounts). Never have any problem downloading to any USAA account ... they're all "Direct Connect" downloads.

If you purchase a CD at USAA in other than a USAA Brokerage Account, I believe you must create a Quicken savings account to deal with the downloads for the CD. Other than that, I can't recall any restrictions for downloading from USAA to retirement accounts.

But you can designate a Quicken savings account as "tax-deferred"; and I believe you will get the essentially the same Quicken tax treatment as you would in an IRA (investment) account (assuming your real-world CD is in a tax-deferred account). You can also tell Quicken to put a savings account in the Quicken "Investing:Retirement" location (See Edit Account Details) to get it treated like other retirement accounts for reporting.

Reply to
John Pollard

So, you just hit "Update Now" and all USAA accounts get updated?

Are you using the same login as for their website?

I don't have any CDs with them.

So... are you saying that I *do* need to create a savings account instead of a retirement account? Or just that that's possible? Did you? Are your IRA accounts with USAA set up as Savings or as Retirement?

Thanks...

Reply to
John Oliver

I do a One Step Update and all my USAA accounts get updated during the same OSU as all my other financial institution's accounts.

Not exactly. Quicken Customer-id is USAA account number (my USAA web site user-id is not my USAA account number). Quicken password is USAA pin.

Just that it might be possible.

I changed all my USAA retirement accounts to USAA brokerage accounts (at USAA); you can own a USAA CD in a USAA brokerage account. None of my Quicken USAA retirement accounts are savings accounts.

Reply to
John Pollard

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