This is my first complete Fidelity guide for beginners. Thus far, I think I’m doing well on my Roth IRA. By the end of this video you will know How to start a Roth IRA for beginners in 2021. Let me know your questions down below.
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Thanks for watching How to Start a Roth IRA on Fidelity For Beginners
Episode Recorded On 08/22/2020
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🚧DISCLAIMER🚧
I am not a CPA or a financial advisor. The content in these videos shall not be construed as tax, legal, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY based on Oscar’s personal experience and opinions. IF stocks or companies are mentioned, Oscar may have an ownership interest in them — DO NOT make buying or selling decisions based on Oscar’s videos. If you need advice, please contact a qualified CPA or financial advisor, or the appropriate professional for the subject you would like help with….(read more)
LEARN MORE ABOUT: IRA Accounts
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REVEALED: Best Gold Backed IRA
If you’re considering saving for retirement, a Roth IRA could be a great choice. A Roth IRA allows your money to grow tax-free, and as long as you follow the rules for withdrawals, you won’t owe any taxes on your distributions in retirement. One of the best places to start a Roth IRA on Fidelity Investments.
Whether you’re new to investing or have a bit of experience, setting up an IRA on Fidelity is pretty straightforward. Here’s a step-by-step guide to help you get started:
Step 1: Open An Account
To open an account with Fidelity, head over to their website and click on the “Open an Account” button. Once you create an account, you’ll need to provide some personal information such as your name, address, and Social Security number.
Step 2: Explore The Roth IRA Options
Once you’ve created your account and logged in to Fidelity’s platform, you’ll be able to choose which type of retirement account you want to open. Select a Roth IRA and review the available options to choose the account with the features, tools, and fees that suit your needs.
Step 3: Fund The Account
After you’ve selected your account, you’ll need to fund it. You can do this by making a transfer from another account or by transferring some of your savings. You can also choose to set up automatic contributions when you open your account. Either way, make sure to fund at least the minimum amount required to open the account.
Step 4: Choose Your Investments
With Fidelity, you have many investment options, which can be overwhelming at times. A Fidelity representative can help walk you through the investment possibilities if you are in doubt.
Step 5: Monitor Your Account
Good investing should be monitored and supervised. Even after your account is completely set up, it is still important to keep an eye on its performance.
In conclusion, setting up a Roth IRA on Fidelity is a simple process that can have significant long-term benefits. Start early to ensure the best possible outcome for your future retirement. Remember that reaching out to other financial professionals such as Certified Public Accountants can also aid in making the best financial choices for your future.
Do you have a video of what happens when you buy? I noticed that like the 401k that does automatic investment, here is not like this.
This was very helpful!! Subscribing
Is this for US residents only?
I’m 19 I don’t need this
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I'm just getting started in all of this and learning slowly. If I have a Roth IRA set up with fidelity and I want to invest in say an index fund like FZROX do I invest into FZROX with the money that's in my IRA or with my linked bank account? Also, do the returns from investments into FZROX go straight to my IRA? These may be dumb questions but hey, gotta learn one way or another.
I'm 46 years old and just started a Roth IRA. I don't how to choose the best investment for my age. My company 401k is in the freedom 2040. What do you suggest? I want to retire early.
A very informative video for beginners. Gaining consistent profits as an independent trader has always been the goal with the assistance of CONS. Edwin Earl I know that is achievable.
This is amazing! Could you do this video in spanish?! That would be amazing!
What core position did you choose when opening your fidelity account?
Your video doesn't stay on topic for setting up an ira. Descent video otherwise
Great video. If i am already 59 which funds would be best for me over the next 15 years for maximum growth?
Can you buy fractional share etfs on fidelity ?
How to i fund my ROTH IRA account?
Can you invest in different Mutual Funds in your ROTH IRA?
Which core position should I choose for a beginner?
First of all thanks for answering my ?s. My next question Is if I waited my five years but I’m not 59 1/2 do I get penalized?
Hi Oscar , I accidentally opened two ROTH IRA’s. How do I delete 1? Thanks
Thank you so much for this helpful video!
Helpful video! I actually opened a Roth IRA but I chose Fidelity Go so that they manage it for me… thoughts?
Do we get charge any fee for roth ira acc !?
So do I made an account and opened a Roth IRA. Now do I go to mutual funds and open another account there?
I have a few questions. So for your Roth IRA, are you only invested in those three mutual funds? The NASDAQ, OTC and 500? Do any of those funds have fees* you mentioned something regarding fees.
thanks for this video help me learn alot about different options
I started today with $100 do I have to buy something or just keep putting $100 every month?
So are you able to buy regular stocks or REITs with your Roth and potentially live off dividends one day?
Hi, how do I switch my "cash" that's hanging out in my Fidelity account over to my Roth IRA. Not the money in my bank account. The money that is transferred over from my bank account that's just hanging out in "SPAXX" account.
Jesus I really wish someone would just make a 3 minute video to show how I can take my current balance on my account and put it into a Roth SMP500. I have already watch enough explanation in other videos. What a waste of time. I will just call them and find out how to put my current balance that just came from my bank to the smp roth.
Hey I just made my account last week and still trying to figure out how things work. Could you do a video of you buying the stocks and the process of that ? Thank you for the content too.
What happens if you don’t put the maximum or minimum of 6k each year,,?
I just turned 25 in November & even though I feel like it's a late start, I want to start investing in a Roth IRA as soon as possible. I'm currently in grad school getting my doctorate & i have 2 years left. I don't have any reliable income or job, but I do have some money to invest. Am I able to open a Roth IRA? What do you suggest I do?
Do you buy more bond as you close to retirement so instead of buying fxaix or fncmx you buy bond. What type of bond you suggest. If currently age 50.
I need some fund that would yield money
With how much can I start? It’s a minimum required ?
Thank you so much for your insight!!
I put a small amount of money in Fidelity roth ira 2 year agos and i still have the exact same amount. Why?
great video man, can you do more fidelity vids
How long did it take you to be able to fund your account?
When can you start maxing out in 2021?
Hello, just opened up an account with fidelity. Does fidelity make it easy to spread your allocations? Like if I start off with 1k and I want to spread it into different mutual funds do they make it easy to spread in percentages?
I want to start a Roth IRA but I might not be able to put money in every month since I’m in college and I go off and on with jobs. Is there an inactivity fee for fidelity Roth IRAs? I don’t want them charging me if I can’t put in money every month.