Quicken for Mac 2018 Review – A Huge Improvement

Robert from The College Investor here. I am really excited today to dive into Quicken
for Mac 2018. Now if you remember last year, I kind of ripped
on Quicken for Mac. It was a really bad product and I gave it
a one star review and a lot of you guys thanked me for saving you from buying it, and I really
appreciate that. And so I don’t know if you guys knew this,
but I shared it with a few of our readers, but the CEO of Quicken reached out to me after
that terrible review last year and he said, “I promise to make it better. We’re working hard on it and you should really
see some awesome results next year”. And so I was really excited to see Quicken
for Mac 2018 go live and here we are, and I want to give them props. It is much better this year than it was last
year. And it’s actually something that I would buy. Now I don’t know about their real price points
in the year, but honestly right now at their 40% off price points and I think they’re going
to have these deals throughout the year and I’ve seen it at good prices on Amazon as well. I recommend it at it’s current pricing. So let’s dive in and I’ll share with you the
biggest features of it, and the biggest thing that I am super excited about is investment
portfolio view and investment lot tracking and the price point. So those are the biggest things that really
changed in 2014, so you can see here there’s three different versions this year. There’s a starter version for Mac, there’s
a deluxe version for Mac, and there’s a premier version for Mac. And I recommend that most people are going
to go with the deluxe version. The only difference between deluxe and premier
is that you get bill pay and you get priority access to customer support. You can see all the way down that everything
else is the same except for bill pay and priority support. Now I don’t ever recommend that you use bill
pay in these programs. I think there’s a lot of glitches. I think your banks charge you for bill pay
and these companies charge you for bill pay and so I don’t really think it’s necessarily
worth the $15 or more a year if it goes back to full pricing that you would have to pay
to get just bill pay and priority support. I think deluxe is a great deal at $29.99,
but if you notice this, per year. So Quicken did change their model to a software
as a service model where you do have to pay an annual license fee for it. And that’s why price does matter. At $50 year here, you know, you’re going to
start paying $100 for two years, and I would say most of us that use Quicken religiously,
we would upgrade every 2 to 3 years, so I don’t think it’s unreasonable that they have
a software as a service model, because most people were upgrading anyways. But you know, the price can really make a
difference when your is a service, so you know, if you’re paying $30 right now, and
then you pay it again next year, so you’re at $60, and I think this product is still
a good deal at $60 for two years, but you know, the hard part with Quicken is that you’re
competing with free. And so I’m always judging them against what
I see at mint.com and personalcapital.com. And so, the big thing is is Quicken really
does improve, so what’s new this year is you can see, you know, it track principal and
interest to pay off their loans, that was a big miss. The customizable investment portfolio, the
assigned lot assignments to investments. You know, these are all good, but their income
and expenses is all much better. So they really made some big improvements. So let me know you exactly what they improved
on. So let’s pull up what Quicken looks like. So here we are. Here is the home page of Quicken for Mac 2018
and I linked some of the accounts up here so that you guys can get a good sense of what
it looks like and how it’s changed. So I would say a few wins right off the bat
is that they do have this really nice spending tracker. Their spending tracker really updates everything
well, and what I’ve always loved about Quicken is that they have a ton of categories here. So unlike mint or personalcapital, which personalcapital
recently added custom categories, you know, mint still is a little finicky when it comes
to categories, but Quicken has always been known for its tracking. And so you have a lot of categories that you
can choose from. You can edit the categories and it’s really
great when it comes to budgeting. And this is really improved from last year. You can look at your income, you can look
at your expenses, you can see a list of all your transactions. The only problem I’ve always found is that,
you know, it’s hard to get back to. You have to remember it’s these buttons right
here are your navigation now, and then you can view your spending by category right there
on the home screen. You know, I haven’t figured out quite where
to find it in some of these reports. You can get an account summary, I think it’s
category spending … no, that’s not quite it. Spending over time, maybe that’s it. Yeah, that’s it. There you go. You can kind of see those categories which
I always love this tool when I was using the regular Quicken as well. Of course you can create your budgets and
everything, so much improved. The other area that is significantly improved
this year is the investing page. And it is much much much much better. So I imported a few of my accounts right here. And it did a really good job. You can see the price, the shares, the cost
basis, the market value, the gain and loss. The only hard part is is it didn’t import
all the cost basis automatically for you. So I don’t know quite what it does to get
the cost basis, because all these are reported at Fidelity, but for some reason, you know,
it’s putting zero value in for the cost basis for some stuff, which is weird that it didn’t
import all the data. But that’s not a big deal because I can go
in and I can add these cost basis pretty easily in this, but that’s a big difference from
the last one. And then you can see the lots, which is huge. So, you know, all the way through you can
see all the different lots, if I have any different lots in there. Which, you know, once again, much improved
over 2017. Then you can see your portfolio over different
time periods, you can see it year to date, you can see all your transactions for it,
and it is just such a better report. You know, let’s see here, you can see your
net worth over time, which that’s huge. And then your tax schedule which was always
an important one that I feel like was not very good last year. Where was the last thing I wanted to show
you guys? The internal rate of returns by portfolio
value. Oh, performance. So then you can see your performance. I just imported all this, but if you go to
the performance tab on this, you know, it has everything on there which is really just
awesome. Once again, super significantly improved from
last year, and I’m really excited. I am actually kind of probably going to use
this for at least a year and see how this thing pans out over the long run. I’ve updated some transactions, I’ve categorized
my spending and it’s honestly so much improved. Now can I give it a full five star review? No. I think I’m going to go with a four star review
for Quicken for Mac 2018. It does have those few things that are holding
it back. You know, this isn’t the most intuitive menu. You could see me struggling where to find
some things, and I know some of that comes with time, but honestly I’ve been using it
now for about three or four days, I should be able to know where things are. I still don’t know where things are. You know, I also am really leery about the
price. So if it’s at the discounted price I think
it’s a good deal. I don’t know about paying full price for that. So I think you should definitely shop around
when it comes to the price on this because you’re now moving to the subscription model. So if it was just a one time fee of paying
$49.99 and you got to just sit on this software for as long as you wanted to, I would say
go for it. But that subscription model really complicates
things when it comes to pricing, and so I think you just need to be careful with that. So anyways, should you get Quicken for Mac? If you really want a desktop software version,
I think you should try it out. I don’t … I think you’re going to be very
happy with how improved it is versus prior years. I think you should also note though that I
created a whole thing from scratch. I did not try to import anything from the
past, so I’ve heard in past versions that importing has always been a challenge with
Quicken, so I haven’t rated that. I couldn’t tell you if the import was successful
or not, but, you know, hopefully that works well if you’re importing your past stuff. So hopefully anyways you saw this, you found
it helpful and honestly I’m giving Quicken for Mac 2018 four stars, much improved. Nice job, Quicken.

19 thoughts on “Quicken for Mac 2018 Review – A Huge Improvement

  • Not sure sure you are being honest.  Being a Quicken user since 2014 through today, Quick 2017 is not much different than 2018 and you now claim to love 2018 where 2017 doesn't hold up.  Not many households care about the investment module except maybe those in the industry or are investment savy.  And you being an investor find $15 a year between packages as some kind of large expense.  Since Quicken broke away from QuickBooks, the product has been much more stable and usable from the beginning.

    Now if you claim your review is investment focused, you may make more sense.  But bill pay and expense tracking has always been there.

  • Longtime Quicken for Windows user (last version 2015); just bought Q for Mac and found it will not import my 2015 qdata file because there are transactions on it from a sufficiently old version of Quicken (the error said Quicken 2003). This comes from Quicken customer service. So if you're considering Quicken for Mac, be sure you haven't been a Windows version user for more than a couple of years…

  • I've pretty much been a daily QM2007 user since it launched in '06. I've used it to import my checking account transactions as that is the only account I run my budget from. I very rarely have difficulty downloading transactions and my register goes back to Sept 2005. In fact I haven't had a single snag in over 6 years. QM2007 was always lacking in the investment department and from what I can see, Q2017/Q2018 is no different. If I was to "upgrade" to QM2018, I'm sure I would only use it as I'm currently using QM2007 and continue to get my investment information from my broker. With the click of a button I can get asset and performance information and that's all I really need.

    Also, it's amazing the price for the Mac version is the same as the Windows version as the latter is much more feature rich. I've played with both and the Win Version has 50% more functionality. The Mac version should be at least 30-35% less expensive than QW2018.

    I haven't made up my mind on whether I'm going to support Quicken on this new subscription endeavor. I get that they need the revenue source to continue development and support, and there is probably no other way around it if they are to stay in business. Software sales is not going to be able to sustain them going forward. Simple as that.

  • I still can't figure out how to add a paycheck or income to this Mac version. When I click on the, "Bills @ Income Tab" I can add a bill but I see and haven't found how to add income this stuff yet. I think it's a step back. No tutorials on the software. No tutorials on their website. Probably should have stayed with Windows version. So far I'd barely give this a 1….. Any help would be greatly appreciated. I might just be missing the secret hiding place!

  • Will quicken automatically update investments for dividends (I automatically reinvest my dividends). Do I have to manually enter them or will it automatically invest dividends

  • My eyes glaze over with talk of investment support. I try to use Q for some very simple comparisons of actual expenditures with budgets or spending plans. Q 2007 for Mac did this easily and I thought surely Q has improved their Mac product by now. Nope. Still doesn't do what Q 2007 did. I have to write in pencil on the report that Q generates.

  • Still using the 2013 Quicken ….it's all I want or need, just can't move it to a new computer. I purchased Q Deluxe but it doesn't do what I need -budgeting, reconciliation, account history. I don't need investment tracking..bill pay, etc, etc. It's very disappointing when it didn't need improving but got polished up with unnecessary functions and now a monthly fee? Huh? Help!

  • My review IT BLOWS!!! There I said it! I have limped with this software for years now….. YEARS! To date Quicken has NEVER tracked my credit card with my bank. A year ago I called tech support and was walked through a fix 4 times before it finally took, it lasted a week. Oh well I said it tracked my checking and savings account ok. I would like to track a 401k if it would do it…..no sale! Now the software rent thing really , really, I mean really.

  • I got the deluxe 2019 version of Quicken and cannot find where I can get a running balance. Can you help? Also, my reconcile is grayed out. What??

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