I got some info about the Fidelity Simple IRA. I don't have the option of taxing the dollars now, but only the option of getting taxed when I take out. 10% tax penalty before a certain age...
"Taxes are due upon withdrawal. Withdrawals taken prior to age
59½ may be subject to a 10% tax penalty; for SIMPLE
IRAs, this penalty is increased to 25% if the distribution
is made during the two-year period beginning when
contributions are first made to the SIMPLE IRA. A plan of
systematic savings does not ensure a profit or prevent a
loss in a declining market."
I'm pretty sure I can put up to 12,000 in it/year. And my employer will match 1%. The thing I'm stuck on is I've heard it's better for someone younger like me to get the tax hit now, than later. And, I am signing up for betterment and they have an IRA option. Should I just use their IRA option and most likely lose the 1% match? For Fidelity's Simple IRA--it requires me to pick from a whole list of funds... most can be found here:
https://advisor.fidelity.com/app/home and then I need to select a category of those funds (A, C or T) and then what percentage of each fund I want my IRA to be divided up into... That is another place I get stuck at. But from what I'm learning, I probably want to do a mix of domestic and emerging markets? I've attached an image of the first page of options... but most of the others I believe are on the link I posted a few sentences before...
*EDIT --- I just found this advice on the link you gave me in a bogglehead wiki. It suggested if not vanguard, to pick these:
Fidelity Spartan Total Market Index Fund (FSTMX)
Fidelity Spartan Global ex U.S. Index Fund (FSGDX)
Fidelity Spartan U. S. Bond Index Fund (FBIDX)
So, I'm guessing I would do -- 40% FSTMX, 40% FSGDX, and then 20% FBIDX (
**Ok, so I just tried to select those in the .pdf I have from Fidelity--and those options don't exist (or aren't written in the same way.) I guess I'll call them tomorrow...
Thank you!