A Comprehensive Guide to Fidelity Investment Account Types

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Types of Fidelity Investment Accounts

When it comes to investing with Fidelity, there are several account types to choose from. Each account type offers unique features and benefits, allowing investors to tailor their investment strategy to their specific needs and goals.

1. Brokerage Account

The Brokerage Account is a versatile account that allows investors to trade a broad range of investment choices, including stocks, bonds, ETFs, options, and mutual funds. There is no account minimum or fees, making it an attractive option for investors of all levels.

2. Roth IRA

The Roth IRA is a retirement account that offers potential tax-free growth and withdrawals. Investors can save for retirement with after-tax dollars and withdraw the money tax-free in retirement. There are no account fees or minimums, and potential earnings grow tax-free.

3. Rollover IRA

The Rollover IRA allows investors to simplify their retirement savings by consolidating their old 401(k) and workplace accounts into a centralized account without taxes or penalties. There are no account fees or minimums, and investors can continue to save with a wide range of investment options.

4. Traditional IRA

The Traditional IRA offers tax-deferred investing for retirement. Investors can save for retirement and reduce their taxable income, if eligible. There are no account fees or minimums, and penalty-free withdrawals are available for certain expenses.

5. Fidelity Cash Management Account

The Fidelity Cash Management Account offers ways to spend, save, and invest, along with features of a traditional checking account. There are no account fees or minimums, and ATM fees, including global, are reimbursed. This account also comes with a free debit card, check writing, bill pay, and FDIC insurance on the cash balance.

6. Fidelity Go®

Fidelity Go® is a robo advisor that makes investing quick, simple, and affordable. There is no minimum to open an account, and investors can start investing with as little as $10. For accounts under $25,000, there are no fees, and for accounts over $25,000, the fee is 0.35% per year.

Choosing the Right Account

With so many account options available, it's important to choose the right one for your investment goals and needs. Consider factors such as your investment strategy, risk tolerance, and time horizon when selecting an account type. If you're unsure, you may want to consult with a financial advisor to help guide you in making the best decision.

Conclusion

Fidelity offers a wide range of investment account types to suit the needs of investors at all levels. Whether you're looking to trade stocks, save for retirement, or invest for your child's future, Fidelity has an account option for you. Take the time to explore the different account types and choose the one that aligns with your financial goals.