Step by Step Guide to Setting Up Your Fidelity 401k

by | Apr 10, 2024 | 401k




In this video I go over step by step instructions for setting up your employers / work 401k. I show you what to look for when selecting an investment fund to help you get the best return on your investments.

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Setting up a Fidelity 401k account is a wise decision for anyone looking to start saving for retirement. Fidelity is a well-known and reputable financial institution that offers a variety of investment options to help individuals grow their retirement savings. If you are interested in setting up a Fidelity 401k account, follow these step-by-step instructions to get started.

Step 1: Gather Your Information
Before you can open a Fidelity 401k account, you will need to gather some important information. This includes your Social Security number, date of birth, contact information, and employment details. You will also need to have a valid form of identification, such as a driver’s license or passport.

Step 2: Contact Your Employer
If your employer offers a Fidelity 401k plan, you will need to contact your HR department or benefits administrator to enroll in the plan. They can provide you with the necessary paperwork and guide you through the enrollment process.

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Step 3: Set Up Your Account Online
Once you have received the enrollment paperwork from your employer, you can set up your Fidelity 401k account online. Visit the Fidelity website and click on the “Register” button to create a new account. You will need to enter your personal information, create a username and password, and set up security questions.

Step 4: Choose Your Investments
After setting up your account, you will need to make investment decisions for your Fidelity 401k plan. Fidelity offers a wide range of investment options, including mutual funds, exchange-traded funds (ETFs), and target-date funds. You can work with a financial advisor or use Fidelity’s online tools to help you choose the right investments for your retirement goals.

Step 5: Set Up Contributions
Once you have selected your investments, you will need to set up contributions to your Fidelity 401k account. You can choose to make regular contributions from your paycheck, set up automatic transfers from your bank account, or make one-time contributions as needed. Be sure to review your contributions regularly to ensure you are on track to meet your retirement goals.

Step 6: Monitor Your Account
After setting up your Fidelity 401k account, it is important to monitor your account regularly to track your progress and make any necessary adjustments. Fidelity offers online tools and resources to help you manage your investments and stay informed about your retirement savings.

By following these step-by-step instructions, you can set up your Fidelity 401k account with ease and start saving for a secure retirement. Remember to consult with a financial advisor if you have any questions or need assistance with your investment decisions. With proper planning and diligence, you can build a solid foundation for your future retirement.

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