How to Create a Pension Plan in Microsoft Money

Microsoft Money allows users to track personal finances.

Microsoft Money is a personal finance software that was discontinued by its manufacturer in 2009 because "personal financial-management software has changed considerably in the 17 years since Money was first established." But many Windows users still have an operational version of the software and can track pension plans with it.

Instructions

1. Launch Microsoft Money on your computer. Using the desktop icon or quick-launch icon located at the bottom left of the task bar, click on the Microsoft Money icon and then enter your user name/email and password. If you wish to work offline, check the "Work Offline" box situated under the sign-in boxes.

2. Find the "Account List" icon. At the top of the Home screen in Microsoft Money, there are icons to the right of the browser navigation buttons; the "Account List" button is the fifth icon. You may also select "Account List" on the left pane under "Microsoft Money." Click on either the icon button at the top or the left pane link to enter the "Account List".

3. Scroll to "Add a new account." Under "Common Tasks" in the left pane, select the first link titled "Add a new account."

4. Select "Investment." The next screen will ask you to "choose account type" and gives four options: "Banking," "Credit card," "Investment" and "Other account type." Select the "Investment" option, then click "Next."

5. Choose "Retirement" from the list. Microsoft Money will now prompt you to "choose account type" again. Click on the third option labeled "Retirement." Click on "Next" and choose a name for your pension plan if you wish, or leave the default name of "Retirement." Choose the currency and click "Next."

6. Follow Microsoft Money's instructions. Money will ask you to select an account type ranging from 401k to 403b to IRA. Select the appropriate account type and click "Next." Microsoft Money will create your pension plan. Go back to the "Account List" on the Home page and begin entering your monetary information.

Tips & Warnings

• Microsoft Money has a tracking feature that allow users to select whether their employers match contributions. You may select this feature by going to the "Bills" page and setting up your pension plan account as a recurring deposit.

References

• Dummies: How Microsoft Money Can Help You with Your Finances
• Vanguard: Technical FAQs---Downloading Transactions to Microsoft Money
• Smart Computing: Microsoft Money
• Microsoft: Microsoft Money FAQs