Tracking CDs

[B2B_Investing]

Hello Mark,

Do you have any recommendations for how to track certificates of deposit? They are held in banking institutions (i.e. standard banks, credit unions) and not investment institutions. If it has to be manually managed, what is the least cumbersome way? The primary value is knowing the amount at each institution and in each certificate. The rate of return, while important, is a secondary concern.

search.php?keywords=certificates+of+deposit

Thanks,

Jason

[Mark]

Hi Jason,

If it is held in a banking account, you won't be able to retrieve the information, but you can manually enter them. I would just treat them like cash, where the share price and all transactions are done at a price of 1. The shares equal the value. So, for example, if you bought a $10,000 CD, record a buy of 10,000 shares, at a price of $1. It would also be a good idea to turn off "Investment Properties... / Internet Retrieve / Retrieve Price", to make sure the price stays at 1.

[B2B_Investing]

Thanks Mark,

I figured that would be the answer. Just to make the search easier for others, if done this way, adding a distribution for interest income could be used to update upon closing/renewing.

If it is held at a brokerage house, in an IRA for example, it should just be pull down as any other security when transactions are retrieved, correct?

[Mark]

Hi B2B_Investing,

Yes, if you have a CD as part of an investment account, it should retrieve with the rest of your investments.