Keeping Track of Investments

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  • Idea
  • Updated 4 weeks ago
  • Not Planned
Since large portions of my income go towards investment accounts, I think it would be a major step forward if Goodbudget could "sync up" with my brokerage / Roth IRA / etc. other accounts. Obviously funds like my Roth IRA are technically not "unallocated" since I technically shouldn't allocate these even in emergencies... Has there been thought given towards doing something like this?
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Allen Chen

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Posted 4 years ago

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Karisa Russell, Official Rep

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Hi Allen, 

Good question! I can't recall your specific request ever being suggested before, so it's definitely not something that's on our radar at this point. But, I'll add it to our request features tracker for future consideration. 

Can you explain more about how you'd imagine a feature like this working? 

Thanks!
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Allen Chen

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Thanks for the response!

Here was what I was thinking. Since the account to account transfer exists, my brokerage account or Roth IRA would simply be another account. However, since Roth IRA is not touched until we retire, we can simply make transfers to this account but not count it as unallocated. Instead it can be some sort of savings account. The difference would be that it would need to communicate with the servers of the banks and/or investing firm such that anything you do on those servers can automatically be tracked on goodbudget. Besides any privacy issues that can be signed off beforehand, I don't see any big problems with these investment firms or banks to disagree to the idea... As long as it helps them drum up revenue.

The same idea would apply to my brokerage account. Except in this case, it WOULD count as unallocated funds.

The main idea is to reduce the amount of manual re-entry of account value every month, day, or minute. This would serve as a powerful reminder of how much actual money we have in our life, not just the amount that's in our bank accounts.

There are probably other things that I didn't think of... Please feel free to reply with questions thoughts or concerns! I love the app and hope to see it grow. I believe it's important for people to be financially responsible!
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Karisa Russell, Official Rep

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Hi Allen, 

Thanks for the extra details! I've included this to the note I made for your feature request. 

Thanks again
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Jennifer Serrano

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hi! not sure if any headway has been made on this feature, but this is what i came to the forum also looking for
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Karisa Russell, Official Rep

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Hi Jennifer, 

Thanks for posting! We aren't working on an investment tracking option at this time. If you'd like, you can stay updated on what we are working on by taking a look at our Roadmap. In the meantime, I've added your vote to our tracker for a feature like this.

Thanks again
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Paul

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Hello - please add a vote for me as well. I think this would a very helpful feature.
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Alex Park, Official Rep

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Hi Paul, I've added your vote too!
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Sebastian Poulsen

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I second that.

As I am starting to invest, my mutual fund investments are beginning to constitute part of my savings towards buying a home. In terms of features, I'm not talking about fancy integration with daily mark to market or anything to that extent. I'm imagining it as sort of inverted version of what you have done with the debt accounts, so you can track money invested and periodically insert values for gains, whilst still keeping an eye on the originally invested amount. I'm a very big fan of GB, however this feature is what is what could make me look elsewhere for a slightly more comprehensive solution.

I hope the above makes sense and happy to elaborate

-Sebastian
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Alex Park, Official Rep

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Hi Sebastian,

Thanks for sharing your perspective. It's valuable for us to hear why these sorts of features are important to you, and how you imagine them working. I've added your notes to our tracker.

Since you mention the Debt Accounts, allow me to mention one possible "hack" you can do to track your investment accounts. One thing that I do to track my own investment accounts in Goodbudget is to add them as Debt Accounts with "overpaid' balances, so they're off-budget but can still be tracked and updated. You can even "pay" your investment accounts (like IRAs, for instance) through Debt Payment transactions.

I should note that I'm sharing this in a personal capacity, as a fellow user of Goodbudget, and this is not a workaround that Goodbudget is officially committing to maintaining. But currently this should allow you what you're looking for: a solution to track investments in Goodbudget without needing to account for that money on the Envelopes side of the household.

Hope that helps!
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Wayne Bird

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Personally I just create a savings account for my investment account and a recurring envelope fill from my paycheck to automatically fill my investment account. In order to prevent all this "money" showing as unallocated I create a related envelope, ie, Wells Fargo IRA and allocate all the funds to that envelope.

The OP asked for Goodbudget to connect directly to the account. It seems that Goodbudget's philosophy is not to have any direct connections to financial institutions, so you still have to enter everything manually or at least download a statement to import into Goodbudget.