Fidelity Minimums

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Fidelity Minimums teaks 02-26-2007  Re: Fidelity Minimums Sandra Loosemor... 02-26-2007  Re: Fidelity Minimums Ron Rosenfeld 02-26-2007  Re: Fidelity Minimums teaks 02-27-2007  Re: Fidelity Minimums Ron Rosenfeld 02-27-2007
Posted by teaks on February 26, 2007, 4:56 am Hi everyone, I recently setup a RothIRA with Fidelity. Most of the funds I'm interested in have either a 2.5k or 5k minimum investment. I've already contributed a few thousand to my account, but it is currently just sitting with Fidelity (I haven't actually specified which funds I would like to buy). Am I safe leaving this money here until I reach the 5k minimum, or would it be better to invest in something else, then trade it back in a few months when I have enough to invest the 5k? Thanks for your help! Posted by Sandra Loosemore on February 26, 2007, 7:52 am > I recently setup a RothIRA with Fidelity. Most of the funds I'm > interested in have either a 2.5k or 5k minimum investment. I've > already contributed a few thousand to my account, but it is currently > just sitting with Fidelity (I haven't actually specified which funds I > would like to buy). Am I safe leaving this money here until I reach > the 5k minimum, or would it be better to invest in something else, > then trade it back in a few months when I have enough to invest the > 5k? You'd better double-check the funds you're interested in. Fidelity, like many fund companies, sets much lower initial minimum investments for many of its funds when held in IRA accounts as opposed to "regular" accounts. E.g., I randomly checked FDGFX, where you only need $200 to get in: http://quicktake.morningstar.com/fundnet/Purchase.aspx?Country=USA&Symbol=FDGFX&fdtab=purchase -Sandra the cynic Posted by Ron Rosenfeld on February 26, 2007, 8:08 am >Hi everyone, > >I recently setup a RothIRA with Fidelity. Most of the funds I'm >interested in have either a 2.5k or 5k minimum investment. I've >already contributed a few thousand to my account, but it is currently >just sitting with Fidelity (I haven't actually specified which funds I >would like to buy). Am I safe leaving this money here until I reach >the 5k minimum, or would it be better to invest in something else, >then trade it back in a few months when I have enough to invest the >5k? > >Thanks for your help! The money is safe. But I believe Fidelity waives it's minimums if you set up an automatic deposit plan for IRA's. --ron Posted by teaks on February 27, 2007, 5:03 am I know that several mutual funds have lower initial investment requirements, but I'm focusing mostly on Fidelity's line of index funds. Looks like I'm going to have to wait a little bit before I can dip into them. Posted by Ron Rosenfeld on February 27, 2007, 8:52 am >I know that several mutual funds have lower initial investment >requirements, but I'm focusing mostly on Fidelity's line of index >funds. Looks like I'm going to have to wait a little bit before I can >dip into them. Yes, I think some of their Spartan funds have as much as a $100,000 initial minimum investment requirements. However, the various prospectuses indicate that with certain retirement plans, and with regular payroll deductions, those minimums do not apply. Are you absolutely certain that in your case the higher minimums will apply? Sometimes, the only way to find out, is to check with a representative over the phone or in person. --ron Similar Threads Posted fund minimums July 23, 2007, 11:29 am Vanguard vs. Fidelity November 19, 2006, 11:47 am New Fidelity Roth IRA February 8, 2007, 4:55 am Fidelity 401k Basics January 31, 2007, 5:03 am Fund closings at Fidelity January 26, 2007, 8:57 am Fidelity Versus Schwab? June 25, 2007, 5:08 am Fidelity Roths for kids January 12, 2008, 11:54 am uncertain about my Fidelity IRA and the economy July 24, 2008, 5:11 am feedback on rolling over a 403b to IRA from Fidelity April 7, 2007, 6:37 am What happens to paid dividends in Fidelity IRA account? September 2, 2007, 11:23 am