Ability to contribute to Savings Goals from investment accounts [edited] (4 Merged Votes)
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Workaround I have found for your first point is creating a new temporary saving school with some initial funding from that second account with drawing the full amount that you initially put in and then contributing that amount to your actual intended savings school. This creates net zero impact on spending plan.
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This functionality seems to work as expected - very easy to use and super helpful feature to have. Really nice to be able to contribute to savings goals that are too far out to justify using a HYSA only.
The workaround above does an effective job at enabling an initial contribution without it counting against spending plan (while still allowing the goal to be visible within spending plan for future contributions).
One thing to consider for the future (to eliminate need for this workaround), is to add the ability to make one-off contributions to savings goals without it docking spending plan. This would be useful as investments grow. For example, if you have $100 in an investment account, and that account grows to $105, adding the extra $5 into the savings goal shouldn't be a debit against spending plan since it's a non-cash contribution.
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Please add this feature! I think it would be very useful. I do not have a traditional HYSA, I use a Money Market Fund instead, and keep majority of my savings in there. I would like if I could track the savings in Quickens
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Hi there,
I know this may seem like a strange request but I've recently built a treasury ladder in fidelity that I want to be included in my savings goal calculations. Treasuries are fixed income, similar to savings and checkings, and thus it kinda makes sense that I should be able to include it as an account for my savings goal.
Thoughts?
Thank you
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Would like to vote for this feature - coming from mint, where my main goals are to track my spending and save for retirement. I'm surprised this product doesn't have an option to link Investment accounts to a retirement goal! (or other goals like 529 accounts toward a college savings goal)
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The ability to contribute to Savings Goals from Investment Accounts is now live for Early Access! 🎉
-Coach Natalie
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One of my Savings Goals is "Surprise & Miscellaneous" - it's our contingency or emergency fund. 2/3s of our monthly contribution to this SG goes into a HYS account and 1/3 goes into an investment account that mirrors our grandkid's custodial accounts. With this newly added ability to contribute from Investment Accounts, I was able to add the balance of this investment account to this Savings Goal and moving forward will be able to include our monthly transfer into this investment account as part of my contribution to the Surprise & Miscellaneous SG.
Looking forward to when we will be able track spending associated with Savings Goals.
Danny
Simplifi user since 01/22
”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer1
