401K questions

I just started a 401K at work and I'm wondering how to deal with it in Money.

I've got my paycheck split into different categories currently and now I 
have to put the 401K amount into a category as well.  I didn't see one 
specifically for this.  What do other people use?

Should I start using the 401K Manager?  I haven't gone through it yet I'm 
just wondering if it works well and how much benefit I'll get from it.

Thanks in advance!

Mike
0
Mike1154 (1216)
5/28/2005 3:14:01 AM
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You will want to create an investment account for the 401(k) and TRANSFER 
your contributions from your checking account to the 401(k) account.  The 
category will be Transfer and the sub-category will be the account name.

Then, you'll probably want to use the 401(k) manager when you get your 
statement to convert the cash you have put into that account into 
investments.  You can find the manager at Investing: Investing Tools: 401(k) 
manager.


-- 

"Mike" <Mike@discussions.microsoft.com> wrote in message 
news:9FB44CC4-D50C-47B7-9792-2FDB9E0478C2@microsoft.com...
>I just started a 401K at work and I'm wondering how to deal with it in 
>Money.
>
> I've got my paycheck split into different categories currently and now I
> have to put the 401K amount into a category as well.  I didn't see one
> specifically for this.  What do other people use?
>
> Should I start using the 401K Manager?  I haven't gone through it yet I'm
> just wondering if it works well and how much benefit I'll get from it.
>
> Thanks in advance!
>
> Mike 


0
bollar (385)
5/28/2005 3:29:42 AM
Transferring from checking doesn't sound right to me.  It never makes it into 
checking.  It is withdrawn from my check as "before tax" money and I never 
see it.

"Richard Bollar" wrote:

> You will want to create an investment account for the 401(k) and TRANSFER 
> your contributions from your checking account to the 401(k) account.  The 
> category will be Transfer and the sub-category will be the account name.
> 
> Then, you'll probably want to use the 401(k) manager when you get your 
> statement to convert the cash you have put into that account into 
> investments.  You can find the manager at Investing: Investing Tools: 401(k) 
> manager.
> 
> 
> -- 
> 
> "Mike" <Mike@discussions.microsoft.com> wrote in message 
> news:9FB44CC4-D50C-47B7-9792-2FDB9E0478C2@microsoft.com...
> >I just started a 401K at work and I'm wondering how to deal with it in 
> >Money.
> >
> > I've got my paycheck split into different categories currently and now I
> > have to put the 401K amount into a category as well.  I didn't see one
> > specifically for this.  What do other people use?
> >
> > Should I start using the 401K Manager?  I haven't gone through it yet I'm
> > just wondering if it works well and how much benefit I'll get from it.
> >
> > Thanks in advance!
> >
> > Mike 
> 
> 
> 
0
Mike1154 (1216)
5/28/2005 4:59:01 AM
That's why you put Transfer:401k on the Before Tax tab of your paycheck. 
Yes, the check gets into your checking account. No, the Transfer:401k is 
never seen as having been there.

"Mike" <Mike@discussions.microsoft.com> wrote in message 
news:E521E8A3-C8F8-41CC-8911-4972584D1F44@microsoft.com...
> Transferring from checking doesn't sound right to me.  It never makes it 
> into
> checking.  It is withdrawn from my check as "before tax" money and I never
> see it. 


0
5/28/2005 5:34:54 AM
"Mike" <Mike@discussions.microsoft.com> wrote in message 
news:E521E8A3-C8F8-41CC-8911-4972584D1F44@microsoft.com...
> Transferring from checking doesn't sound right to me.  It never makes it 
> into
> checking.  It is withdrawn from my check as "before tax" money and I never
> see it.
>

You're correct that the transfer would be entered on the "Before Taxes" tab 
of the paycheck transaction, but cash flow would show it as a transfer from 
checking (or whatever account received the paycheck) to 401k 
(contributions).

-- 
Scott Tyler
agent_scotty-at-hotmail-dot-com


> "Richard Bollar" wrote:
>
>> You will want to create an investment account for the 401(k) and TRANSFER
>> your contributions from your checking account to the 401(k) account.  The
>> category will be Transfer and the sub-category will be the account name.
>>
>> Then, you'll probably want to use the 401(k) manager when you get your
>> statement to convert the cash you have put into that account into
>> investments.  You can find the manager at Investing: Investing Tools: 
>> 401(k)
>> manager.
>>
>>


0
Scott
5/28/2005 5:35:28 AM
And so?

"Scott Tyler" <agent_scotty-at-hotmail-dot-com> wrote in message 
news:uRE%23xb0YFHA.3164@TK2MSFTNGP09.phx.gbl...
> You're correct that the transfer would be entered on the "Before Taxes" 
> tab of the paycheck transaction, but cash flow would show it as a transfer 
> from checking (or whatever account received the paycheck) to 401k 
> (contributions).


0
5/28/2005 12:33:13 PM
Are you talking about your personal contributions, or contributions by your 
employer?
-- 
Chris Cowles
Gainesville, FL


"Mike" <Mike@discussions.microsoft.com> wrote in message 
news:9FB44CC4-D50C-47B7-9792-2FDB9E0478C2@microsoft.com...
>I just started a 401K at work and I'm wondering how to deal with it in 
>Money.
>
> I've got my paycheck split into different categories currently and now I
> have to put the 401K amount into a category as well.  I didn't see one
> specifically for this.  What do other people use?
>
> Should I start using the 401K Manager?  I haven't gone through it yet I'm
> just wondering if it works well and how much benefit I'll get from it.
>
> Thanks in advance!
>
> Mike 


0
NoSpam1246 (979)
5/29/2005 2:28:05 AM
Reply:

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