I am 25 years old and I just opened a Fidelity Roth IRA. I am contributing $200/month. Does anyone have any suggestions on what funds/bonds I should invest in? And can I buy them now with only $200 or do I have to wait until I build up more money?
2007-06-29 04:56:27 · 3 answers · asked by Shannon 1 in Business & Finance ➔ Investing
As RobertL said, FSTMX is a great fund to start out with. As your portfolio grows and you become more educated about different offerings, you can branch out into different funds, but this will make an excellent anchor fund.
As far as investment minimums, Fidelity should waive their $1,000 minimum as long as you sign up for automatic monthly investments of $200. Call them at 1-800-835-5097. They have excellent (and very friendly) customer service reps who will guide you through every step of the way.
By the way, you deserve a pat on the back for beginning investing at your age. Time is your most important ally in planning for retirement, and I can't tell you how many people wait until their 40's (or later) to begin thinking about their future. You are doing yourself a HUGE favor by starting now.
Good luck!
2007-06-29 06:57:19 · answer #1 · answered by El Guapo 7 · 0⤊ 0⤋
I think that the Fidelity Spartan Total Market Index (FSTMX) is excellent. You get exposure to large caps and small caps along with growth and value stocks. Plus the annual maintenance fee for the fund is very low.
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2007-06-29 12:06:42 · answer #2 · answered by Robert L 7 · 1⤊ 0⤋
Hi
I.R.A eh careful, it could end up costing you a bomb.
Ray. West York's. U.K.
2007-06-29 12:10:30 · answer #3 · answered by Anonymous · 0⤊ 3⤋