QUICKEN

Re: The Risk Thangy

go for the most you can afford, with bundles and/or rebates of course. ask boghie for particulars, he is the wizard at that stuff.

also a generic tip for any purchase: find the number for customer service and call them, tell them the deal you are considering/advert you are looking at and ask if there are any incentives. they will usually offer you a sweetener to get you to buy. then tell them you are already a customer of an old version but you don't have that machine or documentation anymore but you would like to stay with their brand but you're not sure and would just like to quit if can't speak to a manager who can help you, thank you. your goal is to get transferred to the 'retention department' but don't ever say that or the line worker will catch on to what you are doing. the retention dept. holds the keys to their corporate world and have mass authority to overide any common transactions. the supervisor there can override any thing except the buying and selling of souls.

play dumb at first but don't cave in. if you hear lots of voices in the background then you know got a cubicle farm at first and don't buy anything they offer. they are recorded or fear being recorded and have to transfer you higher up if you refuse to get off the line. spray them with compliments and/or ask a question about where they are located and the weather. then lay it on thick. if you can tell by the voice they are a fat chick then double up they love compliments or anecdotal stories. this alone can wipe several $100 off your 'accidental' overcharge cell phone bill. remember two things: the person on the other end of the line must do everything in their power to resolve your issue or else transfer you up or else lose their job; and they're human so find something anything in common and compliment and thank them. it's an old trick. i used to be in sales.

also keep them on the line as long as possible, stall if you have to. they have to repeatedly churn many customers fast or else find a big solution for one customer. the clock is always running so make it nice for them and give them a justifiable time break from the salt mine grind. give them a reason to laugh. or at least smile, you can hear smiles over the phone you know.

happy holidays and good shopping.
 
Thanks. Especially burro. This is an on line transaction. I was kinda hoping stoplight, boghie, frixxxx, rmi would comment.

Thank you scout for the comment. Do you use it for your TSP account?

The difference is about $16. I should stop being so cheap.

PO
 
Thanks. Especially burro. This is an on line transaction. I was kinda hoping stoplight, boghie, frixxxx, rmi would comment.

Thank you scout for the comment. Do you use it for your TSP account?

The difference is about $16. I should stop being so cheap.

PO

I prefer the deluxe version. But I use it for forecasting as I find my wife needs "attitude adjustments" on spending.

Sorry for the delay in response, I am at my second job and unclass network has been sketchy at best.

Good Luck!
 
PessOptimist,

Sorry about the delay. I have been trying to finish a final Geographic Information Systems (GIS) project using remote sensing images. Been a real pain in the @ss. My instructor is having us include two to five peer reviewed scholarly papers that we base our stuff on. Because we are using the free imagery from USGS all that scholarly stuff tells me is that my stuff (and probably everyone elses stuff) is not scholarly. Anyway...

The 'Premier' edition wins hands down. I own it and have not owned the Deluxe for quite some time. I think only the Premier edition incorporates the allocation, performance, and risk stuff I use often. One thing you have to know is that our 'Funds' are not funds - so you have to fake it in Quicken. There is no download of TSP data. And, because they when to a very pretty picture you can no longer copy it to a file. Oh well. I generally make entries on Friday for the non-pay Friday and make entries on pay Fridays using Thursday data saved to Thursday for my contributions - and then make entries on Fridays using Friday data for my loan repayment. Yup, contributions on Thursday, loan payments on Friday. Yuk and double yuk.

Based on the fact that you are obviously interested in investments I would strongly recommend the Premier edition...
 
So I just create 401K/403b accounts named TSPX and choose manual entry right?

Yup, to the very conflicted guy... Just beware not to use an actual symbol... That happened to me and I got penny stock returns, yowser :p

How about a Quicken tip. Have you ever wanted to see what kind of return you need (Average Annual Return - Not IRR/CAGR) to meet your retirement goals? Let us take a hypothetical GS11 sitting at $70K who wants to be collecting the same amount in retirement. Here are the assumptions:
  • Current Gross Salary: $70,000
  • Years of Service at retirement: 25 (He/She is quitting right now and living on the street for twenty years:nuts:)
  • Current Retirement Savings: $150,000
  • Age: 45
This chap wants to bring in $70,000 at age 65 from Social Security, Pension, and TSP. How can you use Quicken to figure out the annual return necessary to meet those goals?

Well, start by selecting ‘Planning | Calculators | Retirement Calculator’
It defaults to ‘Annual Retirement Income’. You can use that and play with the return. The key fields are:
  • Current Age: 45 (Default is 30. I’m always turning 30 so this is good, but not real accurate)
  • Retirement Age: 65 (Default)
  • Croaking Age: 85 (Maybe I should use Passing Age to be politically correct)
  • Current Savings: $150,000 (Work the numbers, much worse than expected if chap is not dumb like me)
  • Annual Yield: 8% (Default)
  • Annual Contribution: We will get this number
  • Inflation Rate: 3% (Defaults to 4%, but long term stats say 3%)
  • Other Retirement Income:
    • We will assume a pessimistic Social Security so: 75% of (1,300/month X 12) = $11,700
    • Again we will assume a pessimistic Pension so: 75% of 30% of Current Salary = $15,750
    • Total: $27,450. This goes into ‘Other Retirement Income’.
The results are rather awesome for our individual. Click on the ‘Annual Contribution’ radio button on the top and place $70K in ‘Annual Retirement Income After Taxes’ field (and make taxes 0% - because I just want Gross and who knows how high taxes will be with President Howard Dean… And, make certain to increase with inflation). All this chap has to invest is $5,600/year – or $215 per pay period to reach that goal at 8%. If this chap invests %4 of his salary to retirement he/she will make it at 8% (5% over inflation). That is, this chap is required to provide $190 toward retirement. To boot, that $190 will feel like $140 in a take home cut.

Playing with the annual return now gives you a means of changing risk and matching that to expected return and expected retirement income. For example, changing the ‘Annual Yield’ to 7% results in our chap being forced to contribute $10,000/year ($250 per pay period after match). That will feel like $190 per pay period in take home income.

So, a chap making $2,700 per pay period has to 'pay himself first' $250 and earn a whopping 7% a year (average) to bring home the same bacon as he/she did during his/her working life. And, that $250 will feel like $190 in after tax income to this chap.

As an aside, the 7% and 8% returns are BEFORE INFLATION – but the results incorporate the expected inflation. Now, one can use the Investing tab to set up an allocation. The resulting number in the ‘Allocation’ tab are AFTER INFLATION. Don’t ask me how I figured it out, it was a lot of research – trust me. Just add 3% to the expected return to match the Calculators expected return. Thus, a 7% expected return in the calculator requires an Allocation that returns 4% in the ‘Allocation’ Tab of the ‘Investment’ Tab. My rather conservative 25/0/32/17/26 allocation centers at an 8% average return. An example of an allocation returning 7% would be:

G: 45%
F: 0%
C: 25%
S: 10%
I: 20%​

And, in a normal –non bond bubbly – market you do not even need 55% equities at age 45 to make the goal. The ‘F Fund’ doubles or triples ‘G Fund’ returns. I’m not using it because it is in a current market bubble. Dumb@ss market timing warning here - see my record in this years AutoTracker!!!
 
Thanks. Especially burro. This is an on line transaction. I was kinda hoping stoplight, boghie, frixxxx, rmi would comment.

Thank you scout for the comment. Do you use it for your TSP account?

The difference is about $16. I should stop being so cheap.

PO

Dang ! I'm REALLY late to this party :nuts: Sorry, PO...just saw this when it floated to the top of the forum posts again...

It's probably all a moot point, since you probably already purchased whatever version...but for the record :

I'm using Deluxe, and it does everything I want it to...I'm still learning certain things about it, too, that I didn't know it could do !!! I'm NOT a sophisticated investor, so I really haven't dug much in to the bells and whistles...I might "upgrade" to Premier when I do my next upgrade !

One mistake I made ? When I set up my TSP payroll deductions (years ago, in a previous version of Quicken...'99, I think !) I created my TSP tracking accounts using a "property and asset" label, rather than as an "investment" account. I created an "asset" account for each of the funds, and tracked my payroll allocations and IFTs by entering transactions. When I took out a loan for the house down payment, it was tracked merely as a reduction ("decrease") in my TSP account balances...paid back by deposit (an "increase"). Thus, I've never had any fancy reports or calcs to look at !!!

When I rolled the Wife and my accounts into our IRAs, I was smart enough to set those up as "investment" accounts, so I CAN use features in Deluxe for tracking investments.

Anyway...sorry, again, for the late comments...hope you have a Merry Christmas, and a fruitful New Year in 2014 !!!


Stoplight...
 
Re: Whoops: Forget the easy way to get your average return risk...

No worries Stoplight. Thanks everyone for the tips. I have only gotten as far as creating some accounts with balances. That was a couple weeks ago. I haven't looked at it since. Everything in it's own time. Merry Christmas.
 
Back
Top