Fidelity Roth IRA For Beginners | Step By Step Tutorial

For anyone viewing this in 2024, the "Set Up Recurring Investments" is now under "Invest & Trade" not Transfers. Great video!

I recently opened a roth ira through fidelity. I made a deposit and distributed it amongst a few funds , do I have to distribute my deposits every time or would they automatically drop into those previously funded funds

Is an index fund the same as a mutual fund? When I select an index fund like FXAIX to buy it says "mutual funds" at the top in the trade section. What does that mean?

Hello first off great content as always I have learned quite a bit from your videos I have a question I have a Roth IRA with fidelity and a bloom account would you advise I keep the gloom account and the money market spaxx and invest with my IRA? Or should I invest my spend or save account on bloom are just one of the accounts? Because first I thought of investing my save account in the Fidelity 500 index fund? Then I thought maybe leave it in the money market and invest only the IRA? I'm currently putting $350 a month from my brick and mortar Bank to my fidelity bloom. Any advice or suggestions would be greatly appreciated thank you and have a blessed day.

can you lose money in a roth ria? Any information would be greatly appreciated.

So if you are barely starting off with your ROTH IRA, do you set up automatic investments from your bank account to your ROTH IRA? And then when your ROTH IRA grows, you can start investing with the money already in your ROTH IRA?

Great video and well presented 👏🏿👍🏿

Very helpful!

Can I trade leaps inside the Roth Ira and withdraw tax free at 59 years old? What other instruments can be traded through Fidelity?

Can you be my financial adviser

Just in case i have fedility investment

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

Can I open a Roth IRA even though I already have 401k ?

Can I open a Roth IRA even though I already have 401k ?

Excellent information! Like so many, I wish I'd known about this 5 years ago but I'm learning now and feel confident for my retirement.

So what if you filed your taxes in February for the previous year but can still contribute for that year up until April 15?

IRAs are just peachy until you read the fine print. "You can't do this, you can't do that, etc..." It's only a matter of time until you realize the taxes you would have paid for a regular brokerage account would actually cost less than all the questionable "penalties" that come with IRAs.

Fire video brother! New sub

Your videos are so awesome, thanks for showing how do all this step by step. I've been SO CONFUSED by IRA's in general and all your videos on fidelity and roth ira's have been awesome.

this whole investment thing is scary

I opened my fidelity account 3 years ago and was so overwhelmed I had no idea how to even use it. Now I do! Thank you

Can I seek the stocks in my Roth IRA

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2023 is a high goal. I have about $135k in salary earnings, what could I do with this money to bring in more revenue? Please any directives or pointers is greatly appreciated.

Great tutorial, thanks!

Can you invest and contribute at the same time?

Can I transfer from brokerage account to ROTH IRA ?

It's just a scam. Never have someone holding money for you. Find a place to save your money in your backyard or invest in gold or silver.

Wow I was so excited to learn this only for you to say single above &144k cant contribute (valid in 2023?). This is a disappointment and as a Chemical Engineer I earn more than that and I am single 😭😭. This isnt fear same thing happened during covid and the stipends the govt sent out. I will subscribe to your channel, you provide high level financial teaching which i need, Thanks for making these videos, this will be my 3rd in 40 mins today.

I just opened a Roth IRA but didn’t know there was an income limit… last year i made over 180k… what will happen to my Roth IRA in that case? What other options do i have if i make more than the income limit?

I was trying to lonk my bank wirh mu fidelity account and it requested my bank login password and id. Has anyone else experienced this?

If I open a Roth IRA now and am within the income bracket, no problem. What happens, when in 10 years, I am making more than 150k a year… I can no longer contribute but my Roth IRA will still grow?

If I already have an open Roth IRA account that i chose to invest on my behalf but I want to change it to where fidelity starts to manage my investments how can i do that from their web page?

I bought fxaix and it says prospectus under separate cover. What does they mean?

Can I change existing investments within a Roth IRA?

For the automatic investment, do you have to schedule an automatic transfer as well or does the automatic investment automatically pull from your bank account and invest all in one swing?

I initially planned to retire at 62, working part-time while saving money. But high price increases have disrupted my plan. I wonder if those who experienced the 2008 financial crisis had it easier than my current situation. The declining stock market has lowered my income, and I'm worried that my reduced contributions will leave me with insufficient retirement savings.

Warning: stay away from Fidelity. We are leaving Fidelity Investment, as we are disgusted by some of their policies. While Fidelity has good tools, and good investment options, they will make your life miserable - even when you've been a customer for over 10 years - because you decided to sell your home and travel the US full-time. No, the Patriot Act doesn't force banks to do this, see page 480. Disgusting behavior from Fidelity, so we are leaving Fidelity Investment.

I heard that with roth IRAs, it grows every year by a certain percentage. Does only the money in the core of the account go up? or does all of your investments go up every year?

Can I get some help? I thought it invest’s automatically when I deposit money? Do we have that option without having to choose the stock or index fund? Thank you

very helpful video..

59.5 year min age to withdrawal is very nice.. i like

I was signed up for my companys 401K automatically. I don't make much money to begin with (still a student lol), so if I change my contributions to 0%, would I get penalized???

How many times I can sell and buy different indexes or stocks per year? What If I buy Tesla in January and sell in jun and make 80% or profit? Is there any limitations how many times I can buy and sell? Is there any tax if I sell it and make profit?

Thank you. Very informative

What about automatically reinvesting dividends? How do you set that up?

Love it! Some more research to do, but I'm thinking seriously about opening an IRA for my kids instead of the government college account for autodraft and investing. Also, didn't know Roth's were so flexible (also have Fidelity) so I'm checking my limits to see if I can get into that too. Seems like a no-brainer to switch from average brokerage to a Roth IRA if eligible.

I tried trading myself and lost over 700 in a night, this prompted me to get an expert sir Arlo Eric to handle it for a commission charge and I have been performing excellently well with good profits ratio weekly, quite an experience for me

I presume you can get a Roth IRA later on while having a funded portfolio?