Originally Posted by MTG#10:
I know this is a dumb question and probably already covered to death in this thread but,
I just opened up a Roth IRA for the first time through Fidelity and deposited $500. Do I have to do anything for it to grow once the funds clear from my checking account? Like do I need to choose what the money I contribute is invested in or does Fidelity handle that for me while I just collect dividends? I plan on adding $500/month for the rest of the year then continue that next year to meet the $6000 contribution limit for 2022.
Set up monthly deposits into any fund you’d like. I do $500/month into my ROTH split between 5 funds. Fidelity has some good funds to choose. Look for their zero expense ratio index funds if they are allowed in a ROTH.
FNILX large cap
FZROX total market
FZIPX small/mid cap
If not they have plenty of low cost mutual funds that a very good. [Reply]
I'm actually going to be fairly conservative with this since its for retirement. Any index fund recommendations? My 401k is 100% in AGTHX, is that considered an index fund? And if so should I make my Roth investments something different for better diversity? [Reply]
Originally Posted by lewdog:
Set up monthly deposits into any fund you’d like. I do $500/month into my ROTH split between 5 funds. Fidelity has some good funds to choose. Look for their zero expense ratio index funds if they are allowed in a ROTH.
FNILX large cap
FZROX total market
FZIPX small/mid cap
If not they have plenty of low cost mutual funds that a very good.
Those first two look good. Guess I could do $250/month in each. [Reply]
So I placed a $500 market order for FNILX in my Roth this morning and it still shows open. Do index fund orders only go through at market close or something? [Reply]
Originally Posted by MTG#10:
So I placed a $500 market order for FNILX in my Roth this morning and it still shows open. Do index fund orders only go through at market close or something?
Yep. I believe that's true of all mutual funds, but I could be wrong. [Reply]
Originally Posted by MTG#10:
So I placed a $500 market order for FNILX in my Roth this morning and it still shows open. Do index fund orders only go through at market close or something?
Usually close of business day the order will place. [Reply]
Index funds should settle right away. Or maybe I'm thinking ETFs
Mutual funds settle an hour or two after the market closes.
Edit:
My QQQE is an index fund and moves throughout the day
My ARKK is an ETF and moves throughout the day
My HGICX is a mutual fund and moves after market close [Reply]