Ability to contribute to Savings Goals from investment accounts [edited] (2 Merged Vote)

under_crtl Member ✭✭
edited March 8 in Feature Requests

I have part of my savings in the stock market. I think I should be able to account for those assets when I analyze my savings goals. It seems like now I cannot contribute to a goal from my brokerage account

23 votes

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  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @under_crtl That's a great suggestion! Right now, our Investments module is being upgraded to provide a lot of new services and features, and we appreciate any comments on ways to make it better. The Savings Goals function doesn't actually move any money from one account to another, just asks as a reminder of a pledge you've made to set aside funds, but you should be able to designate your brokerage accounts when you set up a savings goal.

  • under_crtl
    under_crtl Member ✭✭
    edited August 2020

    Any update on this? I have a significant part of my savings in a brokerage account, so the savings goal feature is not very helpful/meaningful. I guess other users might benefit from this too.

  • Coach Nicole
    Coach Nicole Administrator, Moderator admin

    Hi @under_crtl,

    Thanks for reaching out! Sadly, this feature request is still under consideration, so we don't have an ETA. Once we have more info, we'll post on this thread.

    Coach Nicole

  • under_crtl
    under_crtl Member ✭✭
    edited September 2020

    Thanks Nicole for the update. This should be very straightforward to implement though, it probably involves a minor change in the back-end, just adding brokerage account to the account types you can contribute to a savings goal. I don’t understand what was the logic to exclude brokerage accounts in the first place, they are a common account type where people put their savings. This was probably overlooked. Moreover, rather than a feature request I would argue this is something that is not working as designed. Did you exclude brokerage accounts intentionally when this was designed?

  • jsy42
    jsy42 Unconfirmed, Member

    It would at least be nice to create Savings Goals with Investment type accounts. However, Savings goals currently only accept 'Savings' accounts.

  • It'd be great to be able to have investment accounts considered for Savings goals, as many folks have "goal money" there. Also, you should also consider having the ability to add more than one account to a goal (similar to Mint).

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited September 2020

    Hello @jsy42 & @Thats_MrHope,

    Thanks for posting! I have gone ahead and merged both of your posts with an existing Idea thread for this same feature request.

    Please be sure to add your votes, everyone! :smile:

    -Coach Natalie

  • whorneff310
    whorneff310 Unconfirmed, Member

    I'd like to see this used. It really doesn't make sense to not count savings in Retirement accounts if you are making a retirement savings goal.

  • stampejd
    stampejd Member
    Currently, I can only link my savings goals to banking accounts, but I want the ability to link the goal to any account that I have. Even multiple accounts so that their total is compared to the savings goal
  • DavidM
    DavidM Member
    I too desire to have my brokerage account be considered for my savings goals. Having cash lying around for it is expensive! for a savings goal of 25k (a year of expenses for me) will cost me $750 in inflationary costs. My plan is to have it invested in a market index, so I can earn money on my emergency fund, and also avoid inflationary costs.

    For more practical stuff, you could track just the transactions used to fund the account, instead of the account itself if the variability is the problem. That would be fine with me.
  • I would also like to express interest in this feature. It seems like it should be a consideration when incorporating investment accounts that some of those investment accounts could be considered liquid enough to contribute to savings goals as having a brokerage account with money put aside for mid-term savings goals like vacations is not uncommon.

    So far it's been a bit challenging working with the investment features in Simplfi and as a user who is not yet fully committed to the platform and trying some different personal finance tools, I feel like the fact that managing investments is a bit awkward is something that makes me less enthusiastic about Simplifi.
  • Jared
    Jared Member
    Just chiming in to say that I would like to have this feature so I can track my 529 plan as a part of my goal to save for college.