Are you looking to save for your retirement and grow your portfolio? If so, a Roth IRA might be the perfect investment vehicle for you.
In this article, we will provide you with a comprehensive guide on how to start a Roth IRA on Fidelity.
Starting A Roth IRA On Fidelity
To start a Roth IRA on Fidelity, follow these simple steps.
First, visit the Fidelity homepage and click on “Products,” then select “Retirement and IRAs.”
Scroll down and click on “Open an Account” under Roth IRA.
On the new page, provide your personal information and create a username and password for your account.
Once your account is created, click on “Transfer” from the top left corner and select your bank of choice.
If you have not connected a bank account yet, click on “Link a bank account to Fidelity” and provide the required information. After connecting your bank account, select Roth IRA and transfer the desired amount of funds.
Investing In Your Roth IRA On Fidelity
Once you have transferred funds to your Roth IRA, you can start investing. Fidelity offers a variety of funds and stocks that you can invest in, including their own funds.
To invest in a particular fund, search for it on the Fidelity platform using the ticker symbol.
For example, to invest in the Fidelity 500 Index Fund, search for the ticker symbol “FXAIX.” On the fund’s page, you can review the fund’s details, ratings, and expenses.
If you decide to invest in the fund, select “Buy,” choose your account, select “Buy” again, and type in the amount you want to purchase.
A Roth IRA is a great way to save for your retirement and grow your portfolio. By following these steps, you can easily open and manage a Roth IRA on Fidelity. Remember to stay within the contribution limits, choose the right management option, and invest wisely in your future.
