Transaction category for retirement, HSA contributions etc.

Moving 2wards FIRE
edited February 26 in Investments

Hello All,

I've been using Simplifi for over a month and have linked my bank, CC, retirement accounts, etc. It's great to see individual transactions (i.e. contribution deposit from the employer and contribution getting invested into the selected fund) for retirement, HSA, etc.

How are folks categorizing these transactions? i.e. Are you categorizing contribution deposits from the employer as something under "Personal Income" category? How is contribution getting invested into selected fund transactions categorized?

Appreciate any ideas and insights.

Best Answer

  • Wedo778
    Wedo778 Member ✭✭✭✭
    Answer ✓

    I have an "Employer Contribution" subcategory for their additions to my account. I hide it from spending plan and reports, as I don't want it included in my income personally.

    Then I leave all the fund transactions as their default stats. Actions are generally Buys, and then the category defaults the stock/fund I am buying. I'm not trying to do any specific tracking of where the employer contribution was invested. I really just use that section for a combination of a broad view of overall investment performance and tracking net worth.

    Its always all about what you want to get out of the tool, for how you are going to wind up using it. I do my more elaborate investment analysis elsewhere, because I have a "strange" way of evaluating it that doesn't match any tools out there. So my needs in Simplifi in this regard are pretty simple. If you're looking to get deeper, would help to know what you are hoping the end state is.

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