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Importing Existing Portfolio Data / Importing Historical Data
« Last post by Ldygatr on October 05, 2021, 09:54:07 PM »
This software application looks outstanding! However I have hundreds of transactions I would need to import in order to have historically accurate data. Is there a way to import data? Thank you!
Talking Stocks, Funds and ETFs / How to Get Rich
« Last post by Peter Willms on September 14, 2021, 01:27:03 PM »
How to Get Rich

So, I got your attention!

How would you do it? Buy gold, Bitcoin, NFTs, a lottery ticket?  Might work, but a slow and steady approach has a better chance of success. And what sort of financially rich – rich enough to not worry about money, or rich enough to sail the world? Either way, here are a few tips that will help you reach your goal.

Save, save, save.

If you do not have enough income, you cannot possibly save.  Income also allows you to manage your expenses, keeping outflows less than inflows, i.e., living below your means. Make a budget and follow it. Your budget will help you understand your cashflows, and help you save. Many apps are available to help, but a simple spreadsheet is all that is needed. Likewise, a personal balance sheet listing all your assets and liabilities, will show your current financial condition.

Pay yourself first.

Pay yourself first is a time-tested method for accumulating wealth, and it is simple to setup. Every pay period have money automatically withdrawn from your check to be deposited in a special savings account, and/or into a retirement account before any other bills are paid. Since its automatic, you do not have a chance to use those funds on any other spending.  And, thanks to the power of compounding, it does not take long before you will notice how your savings have grown.  As an example, if you save $100 per month for 50 years and increase the $100 each year by 2% to account for inflation, and you grow your money at 8% for 50 years, you will have $1,000,000!

Invest in yourself.

Warren Buffett has said “Invest in yourself. Your knowledge is the engine of your wealth.” No truer words have been spoken.  An investment in yourself will help you succeed. Knowledge is power, and it will help you work better. If you do not know, find out. Listen to smart people. Believe that you can be more than you are today. The harder you work to learn to improve yourself, the more future benefits will follow. Perhaps you will even start your own business.

Invest in the stock market.

The long-term return of the S&P 500 US stock market index for the past 30 years is approximately 9%. Mind you, the worst 1 year return over that period was -37% (2008), and the best 31.50% (2019),   showing the importance that long term less risky investing is the key to building long term wealth. Smart investing requires keeping goals in mind, utilizing diversification, understanding risk, and avoiding get rich quick schemes. Avoid trying to hit the home run, and rather aim for consistent singles. Read and study financial press. Get sound advice - finding a good, licensed advisor can be as simple as checking with a trusted friend or family member. Always keep an eye on investment expenses.

Invest for multiple income flows.

Diversification of income is as important as diversification of assets; luckily, they often go hand-in-hand. Examples of multiple income sources include your salary, your spouse’s salary; investment income including dividends, interest, capital gain income; rental property income, and royalty income.  Since each type of income is unrelated to the other, this diversification helps to reduce income risk. And, since these all are different sources of income, chances of success increase too.

Understand taxes!

The U.S. income tax code is more than 70,000 pages long.  Some believe that no one has read it front to back. Regardless, a general understanding of how income is taxed, and at what rate depending on the type of income, is essential for accumulating wealth. As taxpayers, we attempt to legally defer income recognition to delay taxation, we shelter income in various retirement accounts, we carefully gather and report legal offsets and deductions. Careful record keeping is necessary to pay the correct tax since many people pay more federal income tax than necessary because they misunderstand tax laws and fail to keep good records. Note: tax avoidance is perfectly legal in contrast to tax evasion which the IRS defines as the failure to pay or the deliberate underpayment of taxes.  So, when in doubt, turn to an expert such as a CPA.

And here are a few wise considerations when seeking your riches:

Honesty: “Whoever is careless with the truth in small matters cannot be trusted with important matters.”
― Albert Einstein

Charity: “If you’re in the luckiest one percent of humanity, you owe it to the rest of humanity to think about the other 99 percent.”
― Warren Buffett

Modesty: “There is no limit to the amount of good you can do if you don't care who gets the credit.”
― Ronald Reagan

Richness: “No man is rich enough to buy back his past.”
― Oscar Wilde

Good luck!

Transactions / Charles Schwab Broker Downloads
« Last post by Forum Administrator on September 10, 2021, 12:33:01 PM »
As of September 9th 2021, Charles Schwab has adopted a new file format for automatically downloading brokerage investment activity. This new method is no longer supporting the current OFX (Open Financial Exchange) method that remains the standard and utilized by most financial institutions.  Given this change, users of IAM can no longer automatically access their Schwab brokerage accounts for automatic transactional downloads.  As we work on restoring this automatic functionality for our users, we have in the meantime developed an alternative method for users of IAM to easily import their transactional data.  Attached to this post is a resource guide with step-by-step instructions.  These instructions are also included on our website under the IAM Menu | Guides and Resources. 
If any add'l questions, please contact our technical support team directly:
« Last post by Forum Administrator on September 01, 2021, 09:22:25 AM »
With the NFL 2021 season nearly underway,  we here at Investment Account Manager thought to offer an approach for managing your investment portfolio, much like the general manager of an NFL team manages their team roster. Considering the holdings in your investment portfolio as your ‘roster’ may help you to identify the role of each holding within your portfolio.

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« Last post by Forum Administrator on August 02, 2021, 10:19:35 AM »
Investing for the “long-run” is a very compelling mantra—at least for those who have a long-run ahead of them.  For the investor who is currently 105 years old this article may be somewhat less useful.  If you’re younger than 80 years old—I think it will apply.  The question is simply this:  just how long is the “long-run”?  Is it 2 years?  5 years?  10 years?  Or even longer?

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Seems to be sorted.  All good.  Thanks  :)
Roger, this was a temporary issue, now resolved.  Give it another go, should be all set.

Have they changed their symbols?

What is the best way to correct this?  Thanks.

Announcements / Blog Post - Mid Year Portfolio Rebalancing
« Last post by Forum Administrator on July 01, 2021, 10:27:50 AM »

With the calendar having just passed the midway point of 2021, now might be an ideal time to review your portfolio, and identify if any rebalancing changes may be necessary to stay consistent with your long-term goals....

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General Discussion / Re: Entering Buy/Sell Transactions
« Last post by Forum Administrator on June 14, 2021, 09:29:21 AM »
When entering your buy/sell transactions, you have the check box option to 'deduct from' or 'deposit to' selected in the lower left hand corner, prior to selecting the save button.  If you uncheck this offset, no deposit or withdrawal will be recorded. 

If you have add'l questions, please contact our technical support team directly at:

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