I am new to Praline. I entered "Fidelity" and "UBS" as taxable account names, ROR's, and initial balances. But UBS does not show up in "Allocate initial unralized LTCG". What am I doing wrong?
Pralana seemed to auto correct to Praline, sorry.
@santella Welcome to Pralana and thank you for subscribing. You are not doing anything wrong! But, please see the info at the top of the Taxable account initial balances page:
"Pralana will aggregate the amounts you enter into two “virtual” accounts and model their growth, credits, withdrawals, and balances through the end of the plan:
- a Taxable Cash Account, and
- a Taxable Investment Account."
More generally, Pralana aggregates all the individual accounts you enter into 11 virtual accounts (8 for single-person plans):
-
Cash account (for cash-equivalent accounts like checking and savings)
-
Taxable investment account
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Tax-deferred accounts (for traditional IRAs and 401Ks, etc.) for you and (if married) your spouse
-
Roth
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inherited traditional and Roth IRA accounts for both you and (if married) your spouse
-
Health Savings Account (HSA)
-
529 College Savings Plan
Imagine if Pralana did not do this aggregation and you enter 8 taxable investment accounts, 8 IRAs for yourself, 8 IRAs for your spouse, 8 Roth accounts..etc...setting up asset allocations would be quite tedious indeed, not to mention the Balance Sheet would explode along with Roth conversions. Its just too much complexity!
