Entering RRSP Transaction in GnuCash

[jfjunior]

Hi Mike,

Thanks for the detailed explanation.

cheers.

On 12 April 2015 at 09:09, Mike or Penny Novack <stepbystepfarm at mtdata.com>
wrote:

>
> I'm wondering if someone can help me with a question about the proper way
> to
> register a transaction where my employer makes a direct contribution to my
> RRSP account.
>
> RRSP is more or less the Canadian equivalent of the USA 401(k) and as such
> is a Retirement Fund.
>
> =
>
> These (RRSP's, 401k's, etc.) can be tricky as they can involve all sorts
> of complications. There may be need to keep track of before tax vs after
> tax contributions, employees vs employer contributions, and perhaps
> "vesting" applied to the latter (they may be conditional amounts). Yet such
> funds may represent significant portions of net worth. As an aside, I will
> point out that cash value life insurance may present similar problems,
> especially any "split dollar" policies.
>
> Were I trying to keep "books" for my 401K funds of life insurance values
> (so I could see how they were doing as "investments") I would probably do
> that outside the main books. Not necessarily outside of gnucash! I would
> open a set of books for the 401k, a set of books for insurance policies,
> etc. That way I could track the  "income" of these so could be compared to
> other investments even though not income in the ordinary sense.
>
> Then when desiring "total net worth" could simply add up the parts.
> Expecting our ordinary "books" to be able to do that is an illusion anyway
> (*).
>
> Michael D Novack
>
> * For many of us, the potential capital gain on our residential real
> estate might be a big chunk of the total. But that too is a conditional
> amount.
>
>
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