Quicken 2017 [Caution about upgrading]

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Re: Quicken 2017 [Caution about upgrading]

Post by Germack » 05 Aug 2017 21:11

I use Mint now.

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Peculiar_Investor
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Re: Quicken 2017 [Caution about upgrading]

Post by Peculiar_Investor » 14 Aug 2017 08:53

Bylo Selhi wrote:
03 Aug 2017 15:25
Just posted on Quicken's support forum
Thanks Bylo for your tireless efforts to convince the Quicken management team of the errors of their ways in the previous policy and for keeping the FWF community updated with the latest developments.

For a while I was involved in providing feedback to Quicken about the change, but their support forum software made tracking the new posts very difficult and since I figured I'd clearly made my viewpoints clear I stopped visiting. I admire your diligence in carrying on and not letting the Quicken team get away with making this lousy decision.

Since I'm currently running on Quicken 2016, I've got a couple of years to wait and see how the transition to Quicken 2017 and beyond works out before making a decision.
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Re: Quicken 2017 [Caution about upgrading]

Post by Seawinds » 16 Sep 2017 10:03

I am considering buying Quicken and understand they now have a subscription service, but have a number of questions. I would use it mainly to just track investments, ACB, Capital Gains, ROI etc.

Does the fact that it is subscription this mean the data is stored online now?
Can you download software that runs as a stand alone application on a home computer?
From what Bylo posted it seems that if I don't renew I can still enter transactions and update prices manually. Is that correct?
Could I just buy an older version of Quicken somewhere and enter things manually?
If I buy the US Quicken version and update transactions and prices manually will it work for Canadian investments?

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Re: Quicken 2017 [Caution about upgrading]

Post by Peculiar_Investor » 17 Sep 2017 10:40

Seawinds wrote:
16 Sep 2017 10:03
I am considering buying Quicken and understand they now have a subscription service, but have a number of questions. I would use it mainly to just track investments, ACB, Capital Gains, ROI etc.

Does the fact that it is subscription this mean the data is stored online now?
No, Quicken's data file resides on your computer. It has the ability to download transaction data from a variety of financial institutions. Quicken does have a sunset provision with older, non-subscription versions, that prevents the downloading of financial data and stock quotes.
See Currently Supported Quicken Products (Discontinuation Policy) for details.
Can you download software that runs as a stand alone application on a home computer?
Yes, that's how it works. Whether Quicken changes their model going forward remains to be seen.
From what Bylo posted it seems that if I don't renew I can still enter transactions and update prices manually. Is that correct?
That appears to be the change that Quicken has promised based on all the feedback they received.
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Re: Quicken 2017 [Caution about upgrading]

Post by Seawinds » 21 Sep 2017 17:14

Thanks Peculiar_Investor for your comments. I am wondering if I plan on inputting everything manually... would I be just as well off buying an older used US version of Quicken and using that. Will the US version work fine for Canadian investments and tax purposes?

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Re: Quicken 2017 [Caution about upgrading]

Post by tedster » 21 Sep 2017 22:31

I am using Quicken 2002 deluxe. Have done for years. Input everything manually. Have had no difficulties as yet.

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Re: Quicken 2017 [Caution about upgrading]

Post by AltaRed » 22 Sep 2017 01:03

tedster wrote:
21 Sep 2017 22:31
I am using Quicken 2002 deluxe. Have done for years. Input everything manually. Have had no difficulties as yet.
The question is how a new user might secure original copies of earlier versions of Quicken.
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Re: Quicken 2017 [Caution about upgrading]

Post by adrian2 » 22 Sep 2017 10:26

Seawinds wrote:
21 Sep 2017 17:14
Thanks Peculiar_Investor for your comments. I am wondering if I plan on inputting everything manually... would I be just as well off buying an older used US version of Quicken and using that. Will the US version work fine for Canadian investments and tax purposes?
No, the US version is based on US tax rules.
Some significant differences are:
- in Canada, the cost base is always the average, in US one can pick FIFO / LIFO? / specific lots.
- handling of return of capital distributions / phantom distributions from ETF's.

Get a Canadian Quicken. FWIW, I'm using the 2012 version, Home & Business, and I've always input all data by hand.
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Re: Quicken 2017 [Caution about upgrading]

Post by Spudd » 22 Sep 2017 15:45

AltaRed wrote:
22 Sep 2017 01:03
tedster wrote:
21 Sep 2017 22:31
I am using Quicken 2002 deluxe. Have done for years. Input everything manually. Have had no difficulties as yet.
The question is how a new user might secure original copies of earlier versions of Quicken.
eBay would probably work.

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Re: Quicken 2017 [Caution about upgrading]

Post by AltaRed » 22 Sep 2017 15:51

Spudd wrote:
22 Sep 2017 15:45
AltaRed wrote:
22 Sep 2017 01:03
The question is how a new user might secure original copies of earlier versions of Quicken.
eBay would probably work.
IIRC, one has to register the product before it will even let you into it. Might even need a product key but I don't recall. Best one knows for sure first.
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Re: Quicken 2017 [Caution about upgrading]

Post by adrian2 » 22 Sep 2017 17:34

AltaRed wrote:
22 Sep 2017 15:51
Spudd wrote:
22 Sep 2017 15:45
AltaRed wrote:
22 Sep 2017 01:03
The question is how a new user might secure original copies of earlier versions of Quicken.
eBay would probably work.
IIRC, one has to register the product before it will even let you into it. Might even need a product key but I don't recall. Best one knows for sure first.
My 2012 version does not ask for a key, just installs straight out of the box.
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“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]

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