Introduction
Welcome to the world of investing with Fidelity! If you’re looking for a convenient and efficient way to build your wealth, setting up recurring investments in Fidelity is a smart move. Whether you’re a seasoned investor or just starting out, this feature allows you to automate your investment strategy and grow your portfolio over time.
But what exactly is a recurring investment? In simple terms, it is an investment that you make on a regular basis, such as weekly, monthly, or quarterly, without having to manually place each trade. Instead of constantly monitoring the market and manually buying stocks or bonds, you can set up a recurring investment plan and let Fidelity handle the rest.
There are several benefits of setting up recurring investments in Fidelity. First and foremost, it takes away the stress and hassle of timing the market. You don’t need to worry about trying to buy stocks at the perfect price or making significant changes to your investment strategy based on short-term market fluctuations. Instead, you can set up a systematic approach and let your investments grow over time.
Additionally, recurring investments enable you to take advantage of dollar-cost averaging. This investment strategy involves buying more shares when prices are low and fewer shares when prices are high. By investing a fixed amount at regular intervals, you can potentially lower your average cost per share and ultimately benefit from market volatility.
In this guide, we will walk you through the step-by-step process of setting up recurring investments in Fidelity. Whether you’re looking to invest in stocks, bonds, mutual funds, or ETFs, Fidelity provides a wide range of investment options to suit your financial goals. So, let’s get started and create a solid foundation for your future wealth!
What is a recurring investment?
A recurring investment is a financial strategy that involves making regular investments at specified intervals, such as weekly, monthly, or quarterly. Instead of making one-time lump-sum investments, recurring investments allow you to automate your investment contributions, making it easier to build wealth over time.
Recurring investments are commonly used in retirement savings plans, such as individual retirement accounts (IRAs) and 401(k) plans, where you make regular contributions from your paycheck. However, they can also be utilized in brokerage accounts for various investment purposes.
By setting up a recurring investment plan, you can take advantage of several benefits. First and foremost, it helps you develop a disciplined savings habit. By committing to invest a certain amount regularly, you prioritize saving and investing, ensuring that you consistently put money towards your financial goals.
Another benefit of recurring investments is the concept of dollar-cost averaging. This strategy involves investing a fixed amount on a regular basis, regardless of market conditions. When prices are low, your regular investment buys more shares, and when prices are high, you get fewer shares. Over time, this strategy can help smooth out the impact of market volatility and potentially lower your average cost per share.
Recurring investments also provide the advantage of convenience. Instead of manually executing trades each time you want to invest, you can automate the process. Once you set up a recurring investment plan, the transactions are executed automatically, saving you time and effort.
Furthermore, recurring investments offer the potential for compounding returns. As your investments generate returns, those returns can be reinvested, amplifying your overall investment growth. Over a long period of time, this compounding effect can significantly boost the value of your portfolio.
Whether you’re saving for retirement, building an emergency fund, or investing for other long-term goals, recurring investments provide a systematic approach that can help you stay on track and achieve financial success.
Benefits of setting up recurring investments in Fidelity
Setting up recurring investments in Fidelity offers numerous advantages that can help you achieve your financial goals. Whether you’re a beginner or an experienced investor, here are the key benefits to consider:
1. Automation: One of the greatest advantages of recurring investments is automation. Once you set up your investment plan, Fidelity will automatically execute your trades at the chosen intervals. This eliminates the need for manual intervention, saving you time and effort in managing your portfolio.
2. Disciplined investing: With recurring investments, you establish a disciplined approach to investing. By committing to regular contributions, you build a habit of saving and investing consistently. This can help you stay focused on your financial goals and avoid impulsive investment decisions driven by short-term market fluctuations.
3. Dollar-cost averaging: Recurring investments enable you to take advantage of the concept of dollar-cost averaging. When you invest a fixed amount regularly, you automatically buy more shares when prices are low and fewer shares when prices are high. This strategy helps mitigate the impact of market volatility and can potentially lower your average cost per share over time.
4. Flexibility: Fidelity offers a wide range of investment options to suit your preferences and risk tolerance. Whether you want to invest in stocks, bonds, mutual funds, or ETFs, you can find suitable investment choices that align with your financial objectives. Additionally, you have the flexibility to adjust or modify your recurring investment plan as your needs change.
5. Time-saving: With recurring investments, you can save valuable time by reducing the need for frequent manual trades. Instead of spending hours researching and executing individual investment decisions, you can set up your plan and let Fidelity handle the transactions on your behalf. This allows you to focus on other important aspects of your financial life.
6. Benefit from compounding returns: When you consistently invest in Fidelity’s recurring investment plan, you have the opportunity to benefit from the power of compounding returns. As your investments generate earnings, those earnings are reinvested, potentially leading to exponential growth over time. This can significantly enhance the long-term value of your portfolio.
7. Track and manage your investments: Fidelity provides robust tools and resources to help you monitor and manage your recurring investments. You can track the performance of your investments, review transaction history, and make adjustments to your plan as needed. This transparency and accessibility empower you to stay informed and make informed investment decisions.
Overall, setting up recurring investments in Fidelity offers convenience, discipline, and the potential for long-term growth. It simplifies your investment strategy, helps you develop good financial habits, and offers the flexibility to adapt to your changing needs. Start harnessing the benefits of recurring investments with Fidelity and take control of your financial future.
Step 1: Open a Fidelity account
Before you can start setting up recurring investments in Fidelity, you’ll need to open an account with them. Here’s a step-by-step guide on how to do it:
1. Visit the Fidelity website: Go to Fidelity’s official website and navigate to the “Open an Account” or “Get Started” section. You can easily find this option on the homepage or in the main menu.
2. Choose the type of account: Fidelity provides various types of accounts, including individual brokerage accounts, retirement accounts (such as IRAs), education savings accounts, and more. Select the type of account that best suits your needs and financial goals.
3. Complete the application: Fill out the account application form with the required information. This typically includes personal details such as your name, address, social security number, employment information, and financial information.
4. Provide supporting documents: Depending on the type of account you’re opening, you may need to provide additional documentation. This could include a copy of your identification, proof of address, and any necessary financial disclosures.
5. Review and agree to the terms: Take the time to carefully review the terms and conditions, account agreements, and any specific requirements for the account you’re opening. This ensures that you understand the account features, fees, and responsibilities associated with it.
6. Fund your account: Once your account application is approved, you will need to fund your account. Fidelity offers various funding options, such as electronic transfer, check deposit, or rollover from an existing retirement account.
7. Set up online access: After funding your account, you’ll need to set up your online access credentials. This will allow you to log in to your Fidelity account and manage your investments conveniently from anywhere.
8. Confirm your account: To complete the process, follow any additional steps instructed by Fidelity to confirm your account. This may involve verifying your identity or providing additional documents if requested.
It’s important to note that opening a Fidelity account may be subject to eligibility requirements, and certain account types may have specific regulations and contribution limits. Therefore, it’s wise to familiarize yourself with these requirements and consult with a financial advisor if needed.
Once you have successfully opened your Fidelity account, you are ready to move on to the next step of setting up recurring investments and begin your journey towards financial growth and success.
Step 2: Log in to your Fidelity account
After successfully opening a Fidelity account, the next step is to log in to your account. Here’s how you can access your Fidelity account:
1. Visit the Fidelity website: Open your web browser and go to the official Fidelity website at www.fidelity.com.
2. Locate the login section: On the homepage of the Fidelity website, you’ll find the login section in a prominent place. Look for the “Log In” or “Sign In” button at the top right-hand corner of the page.
3. Enter your login credentials: Click on the “Log In” or “Sign In” button, and you’ll be directed to the Fidelity login page. Enter your username and password in the provided fields. If you have not set up your online access credentials, you will need to do so by following the instructions provided by Fidelity.
4. Enable two-factor authentication (optional): Fidelity offers an extra layer of security by providing two-factor authentication for your account. If you wish to enhance the security of your account, you may set up two-factor authentication through email, text message, or a security token.
5. Verify your identity (if prompted): In some cases, Fidelity may require additional verification to ensure the security of your account. This could involve answering security questions, providing personal identifying information, or other methods of identity verification.
6. Access your account: Once you’ve entered your login credentials and completed any necessary verification steps, you will be logged in to your Fidelity account. You will now have access to all the features and tools provided by Fidelity for managing your investments.
Note: If you encounter any difficulties logging in to your Fidelity account, you can contact Fidelity’s customer service for assistance. They have a dedicated support team that can help you resolve any login-related issues or answer any questions you may have.
Logging in to your Fidelity account is a crucial step in setting up recurring investments. It allows you to access your account information, monitor your investments, make changes to your recurring investment plan, and take advantage of the various tools and resources provided by Fidelity to manage your portfolio effectively.
Now that you’re logged in to your Fidelity account, let’s move on to the next step and navigate to the Investments tab.
Step 3: Navigate to the Investments tab
Once you have logged in to your Fidelity account, the next step is to navigate to the Investments tab. This is where you will find all the options related to managing your investment portfolio and setting up recurring investments. Here’s how to find the Investments tab:
1. Locate the main menu: After logging in to your Fidelity account, you will be directed to your account dashboard. Look for the main menu or navigation bar, typically located at the top of the page.
2. Find the Investments tab: In the main menu, you will see a list of different tabs or sections. Look for the Investments tab or a similar option related to investing or portfolio management. It may be labeled as “Investments,” “Portfolio,” or “Accounts & Trade.”
3. Click on the Investments tab: Once you have located the Investments tab, click on it to access the investment management section of your Fidelity account.
4. Explore the sub-tabs: Within the Investments tab, you may find several sub-tabs or sections that offer different types of investment options. These could include options such as Stocks, Mutual Funds, ETFs, Bonds, and more. Click on each sub-tab to explore the specific investment options available.
5. Familiarize yourself with the features: Take some time to navigate through the different sections and familiarize yourself with the features and tools available in the Investments tab. Here, you can view your current holdings, analyze performance, research new investment opportunities, and manage your existing investments.
Note: The layout and organization of the Investments tab may vary slightly based on your specific Fidelity account type and preferences. However, the general idea is to find the section that houses your investment portfolio and related management tools.
By navigating to the Investments tab, you are getting closer to setting up recurring investments in Fidelity. This section will provide you with the necessary options and tools to configure your recurring investment plan, select the investments you want to make, set the investment amount and frequency, and track the performance of your portfolio.
Now that you have successfully reached the Investments tab, let’s move on to the next step and select the account for which you want to set up recurring investments.
Step 4: Select the account you want to set up recurring investments for
Once you have navigated to the Investments tab in your Fidelity account, the next step is to select the specific account for which you want to set up recurring investments. Fidelity offers a diverse range of account types, including individual brokerage accounts, retirement accounts like IRAs, educational savings accounts, and more. Here’s how to select the account:
1. Identify your accounts: In the Investments tab, you will see a list of your investment accounts. Each account will have a specific name or title associated with it, helping you differentiate between them. Take a moment to review the account names and identify the one you want to set up recurring investments for.
2. Click on the desired account: Once you have identified the account you wish to use, click on its name or title. This will take you to the dedicated page for that account, where you can manage its specific investments and related settings.
3. Analyze account details: On the account page, you will have access to a wealth of information about the selected account. This may include account balance, performance history, asset allocation, and more. Take some time to review these details, as they can provide valuable insights into your current investment portfolio.
4. Navigate to the account settings: Look for the account settings or management options on the account page. This could be a button or tab labeled “Account Settings,” “Manage Account,” or something similar. By clicking on this option, you will be able to configure the account-specific settings, including recurring investments.
5. Verify eligibility: Depending on the account type and specific regulations, there may be certain eligibility requirements or limitations for setting up recurring investments. Ensure that the account you have selected is eligible for this feature. If you’re unsure, consult with Fidelity’s customer service or refer to the account documentation for clarification.
Note: If you have multiple accounts, you will need to repeat the process for each account individually. Each account can have its own unique recurring investment plan and settings.
Selecting the account for which you want to set up recurring investments is a crucial step in configuring your investment strategy in Fidelity. By choosing the appropriate account, you can ensure that your recurring investments align with your financial goals and investment objectives.
Now that you have selected the account, let’s move on to the next step and explore how to access the “Manage Money” or “Transact” option in order to set up recurring investments.
Step 5: Click on “Manage Money” or “Transact”
After selecting the account for which you want to set up recurring investments in your Fidelity account, the next step is to click on the “Manage Money” or “Transact” option. This will allow you to access the necessary tools and features to configure your recurring investment plan. Here’s how you can proceed:
1. Locate the “Manage Money” or “Transact” option: On the account page, look for a tab, button, or link labeled “Manage Money” or “Transact.” It is usually located near the top of the page or in the main navigation menu. Click on this option to proceed.
2. Access the account management section: By clicking on “Manage Money” or “Transact,” you will be directed to the account management section specifically designed for transactions and investing activities.
3. Explore the available features: Once you are in the account management section, take some time to familiarize yourself with the various features and options available. These may include buying and selling securities, setting up recurring investments, managing cash balances, and more.
4. Select the “Recurring Investments” option: Within the account management section, look for the specific option that allows you to set up recurring investments. This may be listed as “Recurring Investments,” “Automatic Investing,” or a similar term. Click on this option to proceed with configuring your recurring investment plan.
5. Understand the terms and conditions: Before proceeding with setting up recurring investments, it’s important to review any terms and conditions associated with this feature. Ensure that you understand the rules, fees, and requirements of the recurring investment program.
Note: The naming and placement of the “Manage Money” or “Transact” option may differ slightly depending on your Fidelity account type and preferences. However, the general idea is to find the section that enables you to perform transactional and investing activities.
Clicking on the “Manage Money” or “Transact” option is an essential step in setting up recurring investments in Fidelity. This will lead you to the dedicated section where you can customize the details of your recurring investment plan, including the investment choices, amounts, frequencies, and start dates.
Now that you have accessed the “Manage Money” or “Transact” option, let’s move on to the next step and learn about selecting the investment you want to make on a recurring basis.
Step 6: Select the “Recurring Investments” option
After accessing the account management section in your Fidelity account, the next step is to select the “Recurring Investments” option. This will allow you to configure the details of your recurring investment plan, including the specific investments you want to make on a regular basis. Follow these steps to proceed:
1. Locate the “Recurring Investments” option: Within the account management section, look for a tab, button, or link labeled “Recurring Investments.” It is usually listed alongside other investment-related options.
2. Click on the “Recurring Investments” option: Once you have located the option, click on it to access the recurring investment settings.
3. Understand the available investment choices: Upon entering the recurring investment section, you will have access to a list of investment options available for setting up recurring investments. These choices can include stocks, mutual funds, exchange-traded funds (ETFs), bonds, and more.
4. Select the investment(s) you want to make: Review the available investment options and choose the specific investment(s) you want to include in your recurring investment plan. You can typically search for investments by name, ticker symbol, or asset class to find the ones that align with your investment objectives.
5. Consider your investment allocation: Take into account your desired investment allocation when selecting investments for your recurring investment plan. Ensure that the combination of investments aligns with your risk tolerance and financial goals.
6. Explore additional customization options: Depending on the Fidelity platform and account type, you may have further customization options for your recurring investments. These can include specifying the percentage allocation for each investment, setting investment limits, or choosing specific investment strategies.
Note: Keep in mind that the availability and features of the “Recurring Investments” option may vary depending on your Fidelity account type and the investment options you have access to.
Selecting the “Recurring Investments” option is a crucial step in setting up your automated investment plan. By choosing the specific investments you want to make on a recurring basis, you can ensure that your portfolio aligns with your investment objectives and diversification strategies. Remember to periodically review and adjust your recurring investment selections to stay in line with your financial goals and market conditions.
Now that you have selected the investments for your recurring investment plan, let’s move on to the next step and configure the investment amount and frequency.
Step 7: Choose the investment you want to make on a recurring basis
After selecting the “Recurring Investments” option in your Fidelity account, the next step is to choose the specific investment(s) you want to make on a recurring basis. This step allows you to determine which assets or securities you wish to regularly contribute funds towards. Follow these steps to proceed:
1. Review the available investment options: Upon entering the recurring investment section, you will typically see a list of investment options available within your Fidelity account. These options may include stocks, mutual funds, ETFs, bonds, and more.
2. Research and assess your investment options: Take the time to research and review each investment option to ensure it aligns with your investment goals and risk tolerance. Consider factors such as historical performance, fund expenses, asset allocation, and the investment’s underlying strategy or objective.
3. Choose the investment(s) that suit your needs: Select the investment(s) you want to include in your recurring investment plan by clicking on the appropriate checkboxes or selection buttons. You can choose one or multiple investments based on your preference and investment strategy.
4. Consider diversification: When selecting investments for your recurring investment plan, aim to achieve a diversified portfolio. Diversification helps to spread risk by investing across different assets or sectors, reducing the potential impact of individual investment performance on your overall portfolio.
5. Review your selections: Once you have chosen the investment(s) you want to make on a recurring basis, review your selections to ensure they align with your investment objectives. Double-check the assets, quantities, and any additional details to confirm accuracy before proceeding.
Note: Keep in mind that the investment options available for recurring investments may depend on your Fidelity account type, eligibility, and any restrictions or regulations specific to certain investments.
Choosing the investment(s) for your recurring investment plan allows you to specify where your funds will be allocated regularly. It is important to be diligent in the selection process, considering your investment goals, risk tolerance, and desired asset allocation. Regularly monitoring the performance and reviewing the suitability of your chosen investments is also essential for maintaining a well-rounded and successful investment strategy.
Now that you have chosen the investment(s) for your recurring investment plan, let’s proceed to the next step and set the investment amount and frequency.
Step 8: Set the investment amount and frequency
After selecting the investment(s) for your recurring investment plan in your Fidelity account, the next step is to set the investment amount and frequency. This step allows you to specify how much money you want to invest on a recurring basis and how often the investments will be made. Follow these steps to proceed:
1. Specify the investment amount: Determine the amount of money you want to invest in each recurring investment. This can be a fixed dollar amount or a percentage of your overall portfolio value. Consider your financial situation and investment goals when deciding on the investment amount.
2. Choose the investment frequency: Select how often you want the investments to be made. This can vary depending on your preferred strategy and the investment options available. Common options include weekly, bi-weekly, monthly, quarterly, or any custom frequency that suits your needs.
3. Consider your cash flow: When setting the investment amount and frequency, take into account your cash flow and budget. Ensure that the investment amount and frequency align with your financial capabilities and commitments.
4. Keep in mind fund minimums: Note that some funds may have minimum investment requirements. Ensure that the investment amount you choose meets these minimums, as specified by the fund provider.
5. Evaluate your risk tolerance: Consider your risk tolerance when determining the investment amount and frequency. If you are more risk-averse, you might choose a smaller investment amount or a less frequent investment frequency. Conversely, if you have a higher risk tolerance, you may opt for larger investment amounts or more frequent investments.
6. Reflect on your investment goals: Align the investment amount and frequency with your investment goals. If you have long-term goals, you may choose a higher investment amount and more frequent investments. Short-term goals might call for smaller investments or less frequent contributions.
Note: Remember to periodically review and evaluate your investment amount and frequency. As your financial situation and goals evolve, you might need to adjust these parameters to ensure they remain aligned with your investment strategy.
Setting the investment amount and frequency for your recurring investments is a crucial step in customizing your investment plan. By allocating the appropriate amount of funds at the desired frequency, you can maintain a disciplined approach to saving and investing, steadily growing your portfolio over time.
Now that you have set the investment amount and frequency, let’s move on to the next step and select the start date for your recurring investments.
Step 9: Select the start date for the recurring investments
Once you have set the investment amount and frequency for your recurring investments in your Fidelity account, the next step is to select the start date for these investments. The start date determines when your recurring investment plan will begin. Follow these steps to proceed:
1. Review your options: Depending on the Fidelity platform and account type, you may have different options for selecting the start date of your recurring investments. Typically, you’ll be presented with a calendar or dropdown menu that allows you to choose the desired date.
2. Consider your financial situation: When selecting the start date, consider your current financial situation and any upcoming financial commitments you may have. Ensure that the chosen start date is convenient and will not strain your cash flow or financial obligations.
3. Align with your investment goals: Take into account your investment goals and time horizons when deciding on the start date of your recurring investments. If you have specific financial targets or milestones, you might want to choose a start date that aligns with these objectives.
4. Timing the market: Keep in mind that trying to time the market perfectly is difficult, if not impossible. Therefore, don’t get overly concerned about selecting the “perfect” start date. The key to success in investing is to stay consistent and committed to your investment plan, regardless of short-term market fluctuations.
5. Flexibility: Some platforms and account types may allow you to adjust the start date of your recurring investments in the future. This flexibility can be helpful if your financial circumstances change or if you need to make adjustments to your investment plan.
6. Confirm your selection: Once you have chosen the start date for your recurring investments, review your selection to ensure its accuracy. Double-check that the chosen date aligns with your intentions and then proceed to confirm your decision.
Note: The options and features related to selecting the start date may vary depending on your Fidelity account type and the specific investment platform you are using.
Choosing the start date for your recurring investments is an important step in setting up an effective investment plan. It allows you to establish a timeline for your investment contributions, enabling you to stay on track and work towards your financial goals. Remember to periodically review and adjust the start date as needed based on changes in your financial situation or investment strategy.
Now that you have selected the start date for your recurring investments, let’s move on to the next step and review and confirm your recurring investment plan.
Step 10: Review and confirm your recurring investment
After setting the investment amount, frequency, and start date for your recurring investments in your Fidelity account, the next step is to review and confirm your recurring investment plan. This step ensures that all the details are accurate before you proceed with the automated investment process. Follow these steps to review and confirm your plan:
1. Review your investment selections: Begin by reviewing the specific investments you have chosen for your recurring investment plan. Check to ensure that they align with your investment objectives, risk tolerance, and desired asset allocation.
2. Check the investment amount and frequency: Verify that the investment amount and frequency you have set are in line with your financial capabilities and goals. Double-check that the chosen amounts and frequency align with your budget, cash flow, and investing strategy.
3. Confirm the start date: Ensure that the chosen start date is accurate and aligns with your intended timeline. Make any necessary adjustments to the start date if required, taking into account any changes in your financial situation or investment strategy.
4. Verify any additional customization: If you have made any customized adjustments to your recurring investment plan, review those settings to ensure they are correctly configured. This may include specific investment allocations, limits, or other customization options available on the platform.
5. Understand fees and terms: Take a moment to review any applicable fees, terms, and conditions associated with setting up recurring investments through Fidelity. Familiarize yourself with the information regarding charges, transaction fees, and any potential penalties associated with your investment plan.
6. Confirm your recurring investment plan: Once you have thoroughly reviewed the details of your plan, confirm your recurring investment by clicking on the appropriate confirmation or submit button. By doing so, you acknowledge and accept the terms and conditions associated with your recurring investment plan.
Note: It is essential to periodically review and evaluate your recurring investment plan to ensure it remains aligned with your financial goals and overall investment strategy. This may involve making adjustments to your investments, amounts, frequencies, or other parameters based on changing circumstances.
Reviewing and confirming your recurring investment plan allows you to make any necessary adjustments or corrections before finalizing the process. By ensuring that all the details are accurate and in line with your investment goals, you set yourself up for a successful and well-aligned automated investment strategy.
Now that you have reviewed and confirmed your recurring investment plan, let’s move on to the last step and learn about monitoring and managing your recurring investments.
Step 11: Monitor and manage your recurring investments
After confirming your recurring investment plan in your Fidelity account, the final step is to monitor and manage your investments on an ongoing basis. Monitoring and managing your recurring investments is crucial to ensure that they stay aligned with your financial goals and adapt to changing market conditions. Follow these steps to effectively monitor and manage your investments:
1. Regularly review your investment performance: Set a schedule to review your recurring investments periodically. Assess the performance of your investments and evaluate whether they are meeting your expectations. Keep in mind that investing is a long-term endeavor, so focus on the overall trends rather than short-term fluctuations.
2. Stay informed about market trends and news: Stay updated on market trends, news, and developments that could impact your investments. This knowledge will help you make informed decisions and adjust your investment strategy if necessary.
3. Adjust your recurring investment plan as needed: Your financial circumstances, goals, and risk tolerance may change over time. Periodically reassess your recurring investment plan and make any necessary adjustments to align with your evolving needs and objectives.
4. Rebalance your portfolio: Regularly rebalance your portfolio to ensure that your investment allocations remain in line with your desired asset allocation. Rebalancing involves adjusting your investments to maintain the desired risk/reward ratio and can help you avoid excessive exposure to a particular asset class.
5. Take advantage of Fidelity’s tools and resources: Fidelity provides a range of tools, research, and educational resources to help you monitor and manage your investments effectively. Leverage these resources to gain insights, track your performance, and stay informed about investment opportunities.
6. Consider consulting with a financial advisor: If you feel overwhelmed or unsure about managing your investments, consider consulting with a financial advisor. They can provide personalized guidance and help you make informed decisions based on your unique financial situation and goals.
7. Stay disciplined and avoid emotional decision-making: Emotional reactions to market volatility can lead to poor investment decisions. Stay disciplined and avoid making impulsive changes to your recurring investment plan based on short-term market fluctuations. Stick to your long-term investment strategy and remain focused on your goals.
Note: Remember that investing always carries some level of risk, and past performance is not indicative of future results. Regularly monitor, review, and assess your recurring investments to ensure they align with your financial goals, risk tolerance, and market conditions.
By actively monitoring and managing your recurring investments in Fidelity, you can optimize your investment strategy and make adjustments when necessary. This proactive approach allows you to maximize your chances of achieving your financial objectives and adapting to changing market dynamics.
Congratulations! You have now completed all the steps to set up and manage recurring investments in your Fidelity account. By following these steps and actively monitoring your investments, you are on your way to building a strong financial future.
Conclusion
Setting up recurring investments in Fidelity offers a convenient and effective way to build wealth and achieve your financial goals. By automating your investment strategy, you can stay disciplined, take advantage of dollar-cost averaging, and gradually grow your portfolio over time.
In this guide, we covered the step-by-step process to set up recurring investments in Fidelity. We started by opening a Fidelity account and logging in to access the Investments tab. From there, we navigated to the account we wanted to set up recurring investments for and clicked on the “Manage Money” or “Transact” option. Then, we selected the “Recurring Investments” option and chose the specific investments, investment amount, and frequency. We also selected the start date for our recurring investments and reviewed and confirmed our plan. Lastly, we discussed the importance of monitoring and managing our investments on an ongoing basis.
Remember, setting up recurring investments is just the beginning. It’s crucial to regularly review and manage your investments, adjust your strategy as needed, and stay informed about market trends. By staying disciplined and taking advantage of the tools and resources provided by Fidelity, you can navigate the ups and downs of the market and work toward your long-term financial success.
Investing involves risk, and it’s important to consult with a financial advisor or do your own research before making any investment decisions. Keep in mind that past performance is not indicative of future results, and you should invest based on your individual financial situation, goals, and risk tolerance.
Now that you have the knowledge and understanding to set up recurring investments in Fidelity, it’s time to take action and start building your financial future. Open your Fidelity account, configure your recurring investment plan, and stay committed to your long-term investment goals. Your journey to financial success begins now!
