Ability to contribute to Savings Goals from investment accounts [edited] (4 Merged Votes)
Comments
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After moving to Fidelity where my savings account is in a Brokerage account I REALLY want my Savings Goals to show that I have saved funds in the Brokerage Account (My savings account). Since I am using this particular brokerage account as a savings account, I would really like to move the account to the Brokerage account to the Banking > Savings section to more accurately show the use of the account. Simplifi by Quicken does not allow me to move the account outside the brokerage section.
Quicken for Windows user since 1994 (After MYM for DOS)
Simplifi by Quicken since 20239 -
Thanks for the feedback, @RiversideKid!
It sounds like you may be looking for a different Idea post —
-Coach Natalie
-Coach Natalie
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Thank you Coach Natalie, I am still learning the format as a new Simplifi by Quicken user. (This is not nearly as simple as Quicken is.)
Quicken for Windows user since 1994 (After MYM for DOS)
Simplifi by Quicken since 20230 -
I ended up with another 'savings account' under "other banking" and manually keep the balance that of my brokerage account. This way I can see when I have enough funds to cover my savings goals.
Although, this creates a whole new issue: My savings account is now counted twice in my net worth. Is there a way to restrict one of the two savings accounts (other banking or this single brokerage account, but not all brokerage accounts) my fake savings account from my net worth?
Quicken for Windows user since 1994 (After MYM for DOS)
Simplifi by Quicken since 20230 -
Any update on this? This seems like a reasonable feature. Most people use a brokerage account for long term savings.
I got around this by categorizing my brokerage account as Other Banking, but now the account won't show in the investments section, which I am fine with
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This is a no-brainer with low effort, high impact. When will this feature be released? First post was 2020 and it is
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I'm hoping to get an update on this. With high interest rates, I'd assume many are like me and moving savings from a traditional savings account to CDs, bonds, and treasuries. It would be helpful to be able to track things like CDs as part of a savings goal. Has this been discussed or considered in H2 2023?
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This functionality is truly fundamental and cannot be ignored. MOST people save for their goals in a brokerage account. Without the ability to link Savings Goals to Investment accounts, the entire Savings Goals functionality is useless to MOST people.
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I agree. How hard can it be to implement this?
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Another voice asking for this feature. It's important to be able to set up saving goals for IRA, 529 and other accounts. Alternatively, there should be a way of making scheduled "transfers" between account count against the available balance for the month (e.g., I schedule a monthly $500 transfer from my checkings to my kid's 529, the spending plan automatically removes that amount from the cash available that month for other expenses).
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Upvoted. How is anyone tracking retirement goals without being able to select multiple (and investment) accounts? Multiple brokerage, IRA, and 401k accounts all contribute to my retirement savings goals.
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Just recently created a Simplifi account (Mint user looking for a new home). It would be great if you could select any account (including investment and manually added accounts) and use its balance to count towards a savings goal.
Also, being able to select multiple accounts to count towards a single savings goal would also be a great addition.3 -
I want this as well - goals don't have to just exist for banking or savings accounts, they can exist for investments too
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Another upvote from me for being able to include investment accounts in savings goals. This is an essential feature, please prioritize; savings goals aren’t usable for many of us without it.
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I'm curious. In general, you can have (for example) 50 goals and say you are contributing to the goals from two accounts— Would you want to be manually adding and subtracting contributions (fixed numbers) from your investment account(s) (which is how it works with banking accounts) as the balances shrink and grow, or would you somehow expect it (as the investment account grew and shrunk) to adjust its contributions to one or more goals? I imagine either one is possible, though the latter may be more complicated because you'd have to identify which goal(s) are affected by value changes of which investment account.
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Rob Wilkens0 -
I can't speak for others, but I just want a tracker for total balances across all my retirement accounts. To do be honest, I haven't used the Savings Goal feature because that's all I am saving for at this stage of my life. So if there are other limitations that prevent that – like manually adding and subtracting things – then I'd love to see those resolved as well. If I have an account (or multiple accounts) dedicated to a single goal, I shouldn't have to do anything to be able to see the progress. I don't want to be a computer. That's what these expensive machines are for. :)
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That doesn't sound like savings goals. That sounds like some kind of report similar to a net worth report, but just for the investment accounts. What savings goals are is, let's say I want to save $2000 for a new computer, and I set a goal of 1 year. It will figure out I need to contribute around $167/month to reach my goal on time and reserve that money in the spending plan. I can have many savings goals depending on what I'm saving for (such as annual expenses I'd rather save for monthly). You're looking for more of a total "what i saved" which is different.
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Rob Wilkens0 -
I feel you are being a bit presumptive about what I'm looking for. If a Savings Goal supported multiple accounts (and all account types) I could certainly use it for my intended purpose. It also sounds like it would be a great help to large number of others. That's why I'd like to see it implemented.
If someone at Simplifi decides to instead create a brand new retirement tracking feature that adds more flexibility and functionality, that's great. I don't know that I need that or am asking for that. And I don't suspect it will arrive as quickly (if it ever does).
But, hey, I'll take whatever I can get. I just want to see my retirement savings goal in Simplifi – whatever that means to you or anyone else.
Cheers!
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I'm not against the idea (I never voted against it), I'm just trying to understand it before I vote for it. It's not important to convince me obviously, I am just one vote like everyone else.
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Rob Wilkens0 -
@Coach Natalie any update on this? As others have mentioned, I don't really keep the bulk of my liquidity in checking/savings accounts - would love to be able to more accurately track my progress toward my savings goal by showing contribution to those goals coming from brokerage accounts.
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This is one of the features in Mint that is not available in Simplifi. It seems like it should be straightforward. Why has it been three years since this was first raised and we still cannot budget/plan for goals in this way?
One wrinkle: multiple accounts often are used to save for one goal. For example, we have two savings accounts and a brokerage account for which we are saving for a particular goal. Would love an update on the progress on this (or not). As a potential new user switching from Mint, it is this type of Mint-like functionality that will be key as to which product I (and others) use.2 -
Hey everyone, thanks for sharing your interest in this topic! We don't have any updates to provide on this request as of yet, but we'll be sure to post back and let everyone know as soon as we do. 🙂
-Coach Natalie
-Coach Natalie
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Many long term savings goals will be associated with investment rather than bank accounts. For example college, weddings, new roof etc. I have put all my cash in to a high yield money market fund (brokerage account) but can not link the savings goals to that account. That seems liek an oversight.
Linked to this: How do you move goals over from one account to another as you shift funds between one and the other (say for better interest rates)?
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I would love to be able to contribute to savings goals from an investment. I have an HSA and this would allow me to track how much I am eligible to withdraw without removing the money from my investments.
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Please implement this request asap!!!!
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Also voting for this! I have 2 different savings accounts I use for my emergency fund, but I can only track my goals against one of those accounts.
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Coming from mint, this is kinda sad. I want to be able to add a retirement goal and select which accounts should count toward that goal. I also want it to estimate progress. just like mint, just copy paste their feature. thanks
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I agree. Please add this feature. Former mint user looking for a new home. I like simplifi but I’ll likely use another option if I can find one that can do this.
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Just switched over from Mint too, requesting this feature as well to connect goals to my investment accounts.
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Putting in my vote for adding investment accounts to Savings Goals. I thought Simplifi could easily help me track my investment and retirement contribution goals as a total. Instead, I have to constantly filter reports to show the amounts…and then calculate that against my goals.
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