2023 Fidelity Roth IRA for BEGINNERS | STEP-BY-STEP Tutorial to Start Investing TODAY Watch this video for a step-by-step overview for beginners, showing how to open a Roth IRA with Fidelity in 2023 and start investing right now. This video will explain: ✅ What a Roth IRA is ✅ 2023 Roth IRA income limitations and contribution limits ✅ Step-by-step how to open a Roth IRA ✅ The most common misconception about Roth IRAs and the big Roth IRA mistake most people make Enjoy the video! // LINKS I MENTIONED // Get $100 when you open a Roth IRA and deposit at least $50! // ⬇️ RESOURCES I CREATED FOR YOU ⬇️ // **FREE Emergency Fund Calculator** **BUDGETING TEMPLATE** //😊 COME SAY HI ON INSTAGRAM // // ABOUT ME // Hi, I'm Priscilla (aka, Clever Money Coach)! Welcome to my YouTube channel! I have a degree in accounting and have my CPA certification. I started this channel to help young professionals simplify personal finance! Money management is an important skill, and I hope to show you through my videos that it does not have to be complicated. If you're interested in tips for budgeting, saving, investing, debt repayment and much more, go ahead and hit that SUBSCRIBE button! 😊 All videos on my channel are for educational/entertainment purposes only. You are responsible for making your own investment decisions....(read more)
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The Fidelity Roth IRA is a popular retirement savings account that offers tax-free withdrawals in retirement. If you are a beginner looking to start investing for your retirement, the 2023 Fidelity Roth IRA is a great place to start. In this step-by-step tutorial, we will guide you through the process of opening and funding your Fidelity Roth IRA. Step 1: Understand the Benefits of a Roth IRA Before you start investing in a Fidelity Roth IRA, it's important to understand the benefits of this retirement account. Roth IRAs offer tax-free withdrawals in retirement, meaning that you won't have to pay taxes on the money you withdraw once you reach retirement age. Furthermore, Roth IRAs have no required minimum distributions (RMDs), which means that you can keep your money in the account as long as you want without being forced to withdraw it. Step 2: Check Your Eligibility To open a Fidelity Roth IRA, you must be under the age of 70 1/2 and have earned income. Additionally, there are income limits that determine whether you are eligible to contribute to a Roth IRA. For 2023, the income limits are $142,000 for single filers and $226,000 for married filing jointly. Step 3: Open a Fidelity Roth IRA Account To open a Fidelity Roth IRA account, visit the Fidelity website and click on "Open an Account." Choose "Retirement" and then "Open a Roth IRA." Follow the steps to complete your application, which will involve providing personal information, such as your name, address, and Social Security number. Step 4: Fund Your Roth IRA Once your account is open, it's time to start funding it. You can fund your Fidelity Roth IRA through various methods, such as electronic transfer, check, or transfer from another retirement account, such as a traditional IRA or 401(k). The maximum contribution for 2023 is $6,000, with an additional $1,000 catch-up contribution for those aged 50 or older. Step 5: Choose Your Investments Once your account is funded, you'll need to choose investments for your Roth IRA. Fidelity offers a wide range of investment options, including mutual funds, exchange-traded funds (ETFs), and individual stocks and bonds. Consider your investment goals and risk tolerance when selecting your investments. Step 6: Review and Adjust Your Investments As with any investment account, it's important to review and adjust your investments regularly. Keep an eye on your Roth IRA and make changes as needed to ensure that your portfolio aligns with your investment goals and risk tolerance. In conclusion, the 2023 Fidelity Roth IRA is a great retirement savings account for beginners. By following these six steps, you can open and fund your Fidelity Roth IRA and start investing for your retirement today. Remember to always do your research and seek guidance from a financial advisor before making any investment decisions. https://inflationprotection.org/2023-fidelity-roth-ira-for-beginners-step-by-step-tutorial-to-start-investing-today/?feed_id=80564&_unique_id=641baa929a97d #Inflation #Retirement #GoldIRA #Wealth #Investing #fidelityinvestmentsforbeginners #fidelityrothira #fidelityrothiraexplained #fidelityrothiraforbeginners #fidelityrothirahowtoinvest #fidelityrothirareview #howtoinvestfidelityrothira #howtoinvestinafidelityrothira #howtoopenarothirawithfidelity #howtoopenarothirawithfidelityforbeginners #rothiraexplained #rothirafidelitytutorial #rothiraforbeginners #rothirainvesting #RothIRAMistakes #whatisarothira #RothIRA #fidelityinvestmentsforbeginners #fidelityrothira #fidelityrothiraexplained #fidelityrothiraforbeginners #fidelityrothirahowtoinvest #fidelityrothirareview #howtoinvestfidelityrothira #howtoinvestinafidelityrothira #howtoopenarothirawithfidelity #howtoopenarothirawithfidelityforbeginners #rothiraexplained #rothirafidelitytutorial #rothiraforbeginners #rothirainvesting #RothIRAMistakes #whatisarothira
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