How to add annuities?
How do we add annuities? I'd assume they have to be added manually, but don't see them in any of the asset lists or anywhere else. Either for deferred ones not paying out yet (future value?) or ones that have started payments.
Best Answer
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Hello @Diver4242,
Thanks for confirming!
I'd suggest creating an Idea post requesting that an "Annuities" account type be added to Simplifi so other users can vote on it and our Product Team can review it.
-Coach Natalie
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Answers
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Hello @Diver4242,
Thanks for posting your inquiry to the Community!
I was hoping another user who's tracking annuities in Simplifi would come along with great advice for you, but I will take a crack at this. To clarify, are you looking to connect the account in question to the bank, or would you be tracking it manually? If the latter, are you wondering how you'd track the transactions, which account type to use, etc.?
I'm not personally familiar with annuities, and I'm not sure how this type of account would be added if connected to the bank, but from what I've read, it sounds like a form of investment. Have you looked at possibly adding the account as an "Other Investment" type? This would allow you to add Cash Holdings to track the value of the account. Otherwise, there is also an "Other Asset" option.
Here's a list of all of the account types currently supported in Simplifi:
Please let us know so we can best assist!
-Coach Natalie
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Right, we haven't started payments on the two annuities, so they're just "assets" right now. I didn't see annuity under the assets list, so I guess we'll just put other. It would be good for Simplifi to add them proper. They actually need to be adjusted for present value, as they consist of a lifelong series of payments when they start.
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