Okay, so I'm super new to investing money. My 401k is managed by Fidelity, and I see them making 20% profit over a year. This far better than putting money into ETFs on my own and making 4-5% profit. Is it possible, I can give Fidelity my money to invest. I don't have much money but like 100k, is there way to do it. I can look into what Fidelity invested in my 401k but lot of those investments are foreign, so hard to copy on my own.
20% is below expectation for last year TBH. If that's what you got, you are better off buying total market type funds yourself.
Yes but their actively managed funds have high fees than passive ETfs like VOO or VTI. You can open a brokerage account with fidelity and invest in their managed fund
A Target Date Fund is probably what you want, though I think there are some drawbacks to using one in a taxable brokerage account. In a taxable account you probably want a total market ETF like VT.
Call them and say I have 100k$ money I like you to manage.. I'm sure they will kiss you and pounce on that business. 😅
Hahaha didn't thought of that. Honestly, I always thought they don't give a f about anything than multi millionaire lol
And pay 1% fee? No way!
85-95% fund mangers fail to beat the S&P500, yet make a ton from fees. Don’t give them a penny. Buy and hold VTI and beat most professionals in the long run.
You mean just only invest in VTI? Just one stock?
I do VTI, VXUS and VGT. Last one is just for some concentration in tech, but the first two are sufficient to build wealth in the long term. Come rain or sun, highs or lows, I buy a fixed sum every paycheck and never sell.
Fidelity love people like you XD
That’s why our brother is asking on Blind so we can help
You need to open a brokerage account. You can open it on the Fidelity website (but not the Fidelity NetBenefits website though, that’s only for 401k).
You should contribute to a Roth IRA if your TC is low enough, or max out your 401k contributions. After that, put your money in a normal brokerage weighted toward S&P500 index funds. Target date retirement funds are very conservative and not super growth-oriented, even in the early years.
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Yes
Okay but how ?
Yes. Fidelity offers target date funds similar to 401k options. Look up “Fidelity freedom funds” there are different ones by retirement date.