The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: Hustler0 on July 28, 2015, 02:33:32 AM
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Hello, I just recently switched jobs and am now for the first time making contributions to a 401k (Fidelity). Currently I'm investing the full amount my employer will match 6% of my total income. I've been with this company a few years and have a 80/20 Stock/bond allotment in the lowest fee options in my 401k.
I balanced my budget a few months into the year and have been so far sticking with it pretty well. In that budget I included some investing money to a Roth IRA with Fidelity as well.
I have about 829 dollars in it currently in cash, and I would like to invest it into something stable, as my plan is to pull some of this money out after a 5 year period, after maxing my contributions to it for the next 5 years for the purchase of a house or rental property.
I'm looking for recommendation for a low cost index/mutual fund with no minimum purchase.
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I don't believe fidelity has any funds with less than $2.5k as a minimum purchase.
Here's the search I did: https://www.fidelity.com/fund-screener/evaluator.shtml#!&ntf=N&mininv=L2500
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You could buy whatever ETFs Fidelity lets you buy for free.
For Fidelity funds, pick only those that are Spartan funds. All the other Fidelity funds are high-fee funds.
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You could buy whatever ETFs Fidelity lets you buy for free.
For Fidelity funds, pick only those that are Spartan funds. All the other Fidelity funds are high-fee funds.
+1. Many iShares ETFs are commission free at Fidelity. https://www.fidelity.com/etfs/ishares Also, I believe some funds don't have the same minimums in a retirement account as they would in a taxable account, so you might double-check that before making any assumptions.
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Hello, I just recently switched jobs and am now for the first time making contributions to a 401k (Fidelity). Currently I'm investing the full amount my employer will match 6% of my total income. I've been with this company a few years and have a 80/20 Stock/bond allotment in the lowest fee options in my 401k.
I balanced my budget a few months into the year and have been so far sticking with it pretty well. In that budget I included some investing money to a Roth IRA with Fidelity as well.
I have about 829 dollars in it currently in cash, and I would like to invest it into something stable, as my plan is to pull some of this money out after a 5 year period, after maxing my contributions to it for the next 5 years for the purchase of a house or rental property.
I'm looking for recommendation for a low cost index/mutual fund with no minimum purchase.
For a Roth IRA, you will only be able to pull out contributions that are 5+ years old. If you contribute 5500 this year and the next 4, in 5 years you can only pull out $5500.
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Hello, I just recently switched jobs and am now for the first time making contributions to a 401k (Fidelity). Currently I'm investing the full amount my employer will match 6% of my total income. I've been with this company a few years and have a 80/20 Stock/bond allotment in the lowest fee options in my 401k.
I balanced my budget a few months into the year and have been so far sticking with it pretty well. In that budget I included some investing money to a Roth IRA with Fidelity as well.
I have about 829 dollars in it currently in cash, and I would like to invest it into something stable, as my plan is to pull some of this money out after a 5 year period, after maxing my contributions to it for the next 5 years for the purchase of a house or rental property.
I'm looking for recommendation for a low cost index/mutual fund with no minimum purchase.
For a Roth IRA, you will only be able to pull out contributions that are 5+ years old. If you contribute 5500 this year and the next 4, in 5 years you can only pull out $5500.
This is false. Roth IRA contributions can be withdrawn tax-free and penalty-free at any time, for any reason. Conversions are what has a five year waiting period.
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Well that's a good to know. I guess I did not understand that contributions were specifically different than conversions.
Thanks!