anyway to auto invest in Fidelity

[ER_Hopeful]

My 401k is linked to a Fidelity brokerage account, I searched all the features, can't seem to find a way to do auto invest in brokerage acct, say buy $x every month. I find it emotionally difficult to force myself to buy when almost everything is at all time high. Really need to put this on auto-pilot.


edit: auto invest from existing balance, not future deposits.
also, any recommendation on Fidelity funds? time horizon is around 12 yrs. So far I'm eyeing FBGRX and FCNTX, maybe I should add a mid-cap and small-cap?

 

[austin944]

It's been a while since I've signed up for a 401K plan, but normally your employer gives you instructions on how to sign up. Your employer asks how much you want deducted and what particular investment you want (from a limited range of choices), and they take care of the rest, by deducting your contribution from your paycheck. Are you saying that you need to sign up with Fidelity directly on their web site for the 401K? Or are you just looking to auto-invest outside of a 401K in a Fidelity brokerage account?

 

[targatom2019]

I think auto invest will only work with mutual funds, not ETF or individual stocks.

 

[ER_Hopeful]

Or are you just looking to auto-invest outside of a 401K in a Fidelity brokerage account?

Yes. Money is already auto deposited into my brokerage acct each month. I found a way to auto invest future incoming $ but seems no way to auto invest the existing stash.

 

[austin944]

Yes. Money is already auto deposited into my brokerage acct each month. I found a way to auto invest future incoming $ but seems no way to auto invest the existing stash.

On my Fidelity account, if I go here and click on my brokerage account to "Set up an automatic transfer or investment", it gives me three options, but none of them seem to allow me to do what you want.

https://digital.fidelity.com/ftgw/digital/auto-invest

If I click on "Invest funds from core position", it says I don't have an eligible Mutual fund position in my brokerage account, and gives me the option to buy a mutual fund (even though I have a fund in a separate non-taxable account). Is that what you are seeing?

Could you move your stash into an external bank account and then auto-invest into Fidelity from that bank account? That's what I do.

You should have an advisor for your account, who can answer questions.

 

[wolf]

My 401k is linked to a Fidelity brokerage account, I searched all the features, can't seem to find a way to do auto invest in brokerage acct, say buy $x every month. I find it emotionally difficult to force myself to buy when almost everything is at all time high. Really need to put this on auto-pilot.


edit: auto invest from existing balance, not future deposits.
also, any recommendation on Fidelity funds? time horizon is around 12 yrs. So far I'm eyeing FBGRX and FCNTX, maybe I should add a mid-cap and small-cap?

I have the exact "same" situation. But have funds at Vanguard. Want to invest monthly from "existing" funds. Hopefully, someone has "hands on " experience.

Will probably end up calling Vanguard, customer service. And ask.

 

[audreyh1]

I have it setup in my Fidelity HSA which is a Fidelity brokerage account. I set up monthly contributions and mutual fund purchases through the “Setup Automatic Investments” option.

 

[Calpurnia]

Account Features Tab --> Payments & Transfers --> Automatic Transfers and Investments

 

[Retire_2031]

I did it recently.

First, as someone already mentioned, you have to buy mutual funds (and not ETFs and stocks) as mutual funds have a single EOD value that you can buy/sell (stocks/ETFs fluctuate in price throughout the day).

Second, you first need to buy the mutual fund you want to auto-invest in (I started with $100). Then, you can set-up the monthly auto-invest by picking the days of the month you want to buy that particular mutual fund.

The fidelity platform is not intuitive.....but if you do a search for auto-invest, it provides the correct link.

SS