QLP (Quicken Life Planner) expert advise wanted

[wanaberetiree]

I know we have real experts in this area, so looking for advise...

In QLP right in the middle pane, these Current Saving value next to Your retirement plan

I have no clue what this number correlates to or came from?!

Any clues?

 

[pb4uski]

It looks to be the sum of your Accounts that are Personal and Retirement in the Accounts pane.

 

[wanaberetiree]

Left pane "Plan assumptions" shows correctly investments and assets.

Current Savings shows some bogus number

What do you mean by "your Accounts that are Personal and Retirement in the Accounts pane"?

 

[pb4uski]

On mine there is an Accounts pane along the left side. Within that there are (in the middle on mine) investment accounts that are also Retirement accounts (401k, IRA, Roth IRA, HSA). On mine, the sum of those accounts is the same as the current savings your refer to.

Or alternatively, do a Portfolio Value report and Customize it to only show Retirement accounts in the Accounts tab in the customization window.

 

[wanaberetiree]

On mine there is an Accounts pane along the left side. Within that there are (in the middle on mine) investment accounts that are also Retirement accounts (401k, IRA, Roth IRA, HSA). On mine, the sum of those accounts is the same as the current savings your refer to.

Or alternatively, do a Portfolio Value report and Customize it to only show Retirement accounts in the Accounts tab in the customization window.

What Quicken version do you use?

BTW, new Quicken 2015 will be out next week!

 

[rodi]

Left pane "Plan assumptions" shows correctly investments and assets.

Current Savings shows some bogus number

What do you mean by "your Accounts that are Personal and Retirement in the Accounts pane"?

To the right of Plan Assumptions there is a box labeled Event Status - that has a column marked current savings.

For me - it has my investment accounts (vs cashflow accounts like checking and normal savings) in the column for current savings for retirement savings. It has the kids 529 account values for each kids college savings.

One thing I noticed - you have to be careful with QLP - it will include hidden accounts and things you've marked to exclude from net worth, unless you also mark it in QLP as something not to use. It assumes EVERYTHING in quicken is up for grabs... In our case, this wasn't so good... We have an account with our tenants security deposit - obviously we don't want that used in QLP. I also keep track of accounts in my sons' names - it's their money... I don't want that used either..., but do want quicken to know about them. I had already removed them from networth - but I had to uncheck them in QLP to have them not included in the lifetime plan.

 

[Hermit]

In my 2013 version in the Plan Assumptions pane "Current Savings:" equals the total of savings and checking accounts.

 

[wanaberetiree]

In my 2013 version in the Plan Assumptions pane "Current Savings:" equals the total of savings and checking accounts.

In my case it shows ~$900K which is simply wrong and I am trying to understand what's going on. Is it possible to include/exclude what you see in this number?

 

[Hermit]

Click on "Savings and Investments" to the right of that entry to see and change what is contained in the number.

 

[Hermit]

Sorry, to the left of the entry.

 

[wanaberetiree]

I see No Savings but investments show correctly.
However they do not agree with the Current Savings number !

 

[rodi]

In my case it shows ~$900K which is simply wrong and I am trying to understand what's going on. Is it possible to include/exclude what you see in this number?

I have 2014 version... but the savings & investments line on Plan Assumptions has a clickable link (the words "savings & investments")... From there it brings up a list of accounts - broken into "savings" tab, "investments tab" (and a third tab to set the expected return rate.)

If you click "show excluded accounts" - you will see all your accounts. You can determine, account by account what is included and excluded in your plan.

You can do the same thing - with some extra steps, but going through the plan assumptions and editing the savings and investment accounts.

 

[pb4uski]

What Quicken version do you use?....

Home & Business 2014