Want to open a Roth IRA at Fidelity? We’re here to help. Check out this video for steps on getting started.

00:00 Welcome to FidQs
00:11 What is a Roth IRA?
00:33 How do you open a Roth IRA at Fidelity?
01:17 How much can I contribute to my Roth IRA?

Questions? Drop them below 👇 and we’ll reply right in the comments.

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Max of $6,500 a year is for combined contributions.

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Hey everyone, welcome to FidQs. The place where our top Fidelity customer questions are answered so you never, ever have to pick up the phone.  
 
Ok, today we are talking about everything Roth which leads me to my very first question…What exactly is a Roth IRA?   

Well, it’s actually pretty simple. 

A Roth IRA is an account used to save for retirement which allows you to contribute after-tax dollars and the earnings are tax free.   

So, in layman’s terms…it’s just another great way to save for retirement…whether that’s cruising the Caribbean, climbing Mount Everest, or just hanging with monkeys all day…that’s what I want to do.

Ok, now that we know what exactly a Roth IRA is, let’s tackle our next question…how do I open a Roth IRA at Fidelity?

So first thing you’re going to do is click “open an account”.

You’ll then see a list of IRAs. From there you’ll choose “Open a Roth IRA”.

Ok, then assuming you’re not already a Fidelity customer, select no and continue to the next page.

Now it’s time to fill out a little bit of information about yourself…

Then a little more about your employment status

Answer one last legal question.

Verify your info. And take some time to really read through the agreements. This is important…

Once you do just click open account and BOOM. You’re all set. Easy right? 

Ok…it’s time for our final question…how much can I contribute to my Roth IRA?

Well, I’m really hope you are asking this because you’ve just got a huge raise at work. Whatever it is, the answer is, you can contribute a maximum of $6,500 this year. Just keep in mind that the maximum amount may increase in $500 increments based on inflation.   
 
Ok that’s it for today. If you’ve got any questions, leave them in the comment below.   
  
Please like the video and if you enjoyed what you saw please subscribe and hit the bell so you can be notified for future videos.

Ok that’s all for now, see you next time….(read more)

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How To Open A Roth IRA | Fidelity Investments

retirement planning is an essential aspect of one’s financial journey. While there are various retirement investment options available, one that stands out is a Roth IRA. A Roth IRA offers numerous advantages, including tax-free growth and tax-free withdrawals during retirement. If you are considering opening a Roth IRA, Fidelity Investments provides a user-friendly platform and exceptional services to make the process simple and straightforward. Here’s a step-by-step guide on how to open a Roth IRA with Fidelity Investments.

Step 1: Determine Your Eligibility
Before opening a Roth IRA, it’s important to determine if you meet the eligibility criteria. To qualify, you must have earned income, whether from a job or self-employment, and your modified adjusted gross income (MAGI) should fall within the limits set by the Internal Revenue Service (IRS). For single filers, the MAGI limit is $140,000, while for married couples who file jointly, the limit is $208,000.

Step 2: Research Fidelity Investments
Once you have ensured your eligibility, research the various investment firms that offer Roth IRA accounts. Fidelity Investments is a trusted provider known for its excellent customer service, a wide range of investment options, low fees, and innovative tools for retirement planning. Consider exploring their website or contacting their customer service representatives to understand the services they provide and how they align with your retirement goals.

Step 3: Gather Required Information
To open a Roth IRA with Fidelity Investments, you will need some necessary information, including your Social Security number, employment and income details, and information about your previous retirement accounts (if any). Collect these documents beforehand so that you can smoothly complete the application process.

Step 4: Visit Fidelity Investments’ Website
To open a Roth IRA, visit Fidelity Investments’ official website. The homepage will have a “Open an Account” or “Get Started” button, leading you to their account opening portal. Click on it to begin the application process.

Step 5: Fill Out the Application Form
Next, you will be prompted to fill out the application form. The form will require personal information, employment details, and the type of IRA you wish to open (in this case, a Roth IRA). Additionally, you will need to specify your investment preferences, such as your desired asset allocation or risk tolerance. Fidelity Investments offers helpful guidance at each step, making it easy to understand and complete the form accurately.

Step 6: Nominate Beneficiaries
A crucial step in opening a Roth IRA is nominating beneficiaries. This ensures that in the event of your passing, your investments will be transferred to your chosen beneficiaries. Fidelity Investments allows you to specify primary and contingent beneficiaries, and you can allocate different percentages of your investments to each.

Step 7: Fund Your Account
After completing the application form, you will be asked to fund your Roth IRA. Fidelity Investments allows various funding options, including electronic transfer, check, or transferring funds from an existing retirement account. Choose the most convenient option for you and follow the instructions provided on the screen.

Step 8: Review and Submit
Before finalizing your Roth IRA application, take a moment to review all the information you have provided. Ensure accuracy and make any necessary changes. Once you are satisfied with the details, click the submit button to complete the process.

Step 9: Manage and Monitor Your Roth IRA
Congratulations! You have successfully opened a Roth IRA with Fidelity Investments. Now, it’s essential to actively manage and monitor your account. Fidelity Investments provides a range of tools, resources, and educational materials to assist you in making informed investment decisions. Regularly review your contributions, investment performance, and adjust your portfolio if needed to stay on track towards your retirement goals.

In conclusion, opening a Roth IRA with Fidelity Investments offers a reliable and convenient way to plan for your retirement. By following these simple steps, you can establish your account and enjoy the benefits of tax-free growth and withdrawals during your golden years. Start your retirement journey today with Fidelity Investments and secure a comfortable future.