Setting Up Recurring Investments With Fidelity: A Step-By-Step Guide

Setting up recurring investments with Fidelity is a straightforward process that can help you automate your investment strategy and promote dollar-cost averaging. By enabling this feature, you can make regular investments in stocks, mutual funds, ETFs, or other eligible securities, contributing to your chosen investment options without manual intervention. This not only simplifies your investment journey but also instils a disciplined approach towards achieving your financial objectives. In this article, we will guide you through the steps to set up recurring investments on Fidelity, highlighting the benefits along the way.

Logging into your Fidelity account

• Visit the Fidelity website or open the Fidelity mobile app on your device.
• Locate the login or sign-in section, usually found on the homepage or the app's main screen.
• Enter your login credentials, including your username and password. Make sure to enter this information accurately to avoid any issues.
• If you don't already have an account, you'll need to create one by providing personal information and setting up security details.
• Once you've entered your credentials, click or tap the "Log In" button.

Navigating to the Relevant Section:

• After successfully logging in, you'll be taken to your account dashboard or main page.
• Look for the “Accounts & Trade” tab, usually found in the top right corner of the screen or within a menu.
• Click or tap on the "Accounts & Trade" tab to access the relevant features.

Setting Up Recurring Investments:

• Once you're in the "Accounts & Trade" section, look for options related to recurring investments, automatic transfers, or purchases. This may be under "Account Features" or a similar heading.
• From here, you'll be able to select the specific investment account and the type of investment you want to set up recurring buys for.
• Follow the prompts to choose the amount, frequency, and timing of your recurring investments. You may also be able to set up recurring transfers from an external bank account.
• Review and confirm your choices before finalising the setup.

Remember that you can always refer to Fidelity's official website, customer support, or community forums for detailed instructions and answers to any questions you may have during the process.

Selecting the 'Accounts & Trade' tab

Once you have logged into your Fidelity account, you can start the process of setting up recurring investments.

To begin, navigate to the 'Accounts & Trade' tab in the top right-hand corner of the screen. This is the hub for managing your investments and executing transactions. From here, you can select the 'Account Features' option, which will present you with further choices.

Click on 'Payments & Transfers' to access the 'Automatic Transfers and Investments' section. This is where you can set up automatic transfers and recurring investments. You can also select the ''Recurring Purchases' option to initiate regular investment transactions according to your predefined schedule.

The 'Accounts & Trade' tab is the gateway to a range of investment tools and services, including market orders, limit orders, and stop orders, which enable you to execute buy or sell transactions with precision. It also offers educational materials on fundamental investment concepts, empowering you to make informed decisions.

Choosing the 'Recurring Purchases' option

Choosing the Recurring Purchases option

Once you have logged into your Fidelity account and navigated to the 'Accounts & Trade' tab, you will need to select the 'Recurring Purchases' option to initiate the setup of regular investment transactions. This feature simplifies the process of automating your investments, allowing you to specify the frequency and amount you wish to invest at regular intervals.

By choosing recurring purchases, you can benefit from dollar-cost averaging, a strategy where you consistently invest predetermined sums at fixed intervals, regardless of market fluctuations. This method helps to mitigate the impact of market volatility and creates a disciplined approach to building your investment portfolio over time.

With recurring purchases, you can easily manage your investments and make adjustments as needed. This feature allows you to track and modify your investment strategy, ensuring it remains aligned with your financial goals and objectives.

To set up recurring purchases, you will need to select the specific investment account and the investment product, such as stocks, mutual funds, or ETFs, that you wish to include in your recurring purchases. This selection should be based on your financial goals and investment strategy, taking into consideration factors such as risk tolerance, time horizon, and your desired level of involvement in managing your investments.

After making your selections, you will specify the amount and frequency of your recurring purchases, ensuring they align with your financial plan and investment goals. You can choose to make investments daily, weekly, or monthly, and you have the flexibility to adjust these parameters as needed.

By choosing the Recurring Purchases option, you can automate your investments, adhere to your investment plan, and take advantage of dollar-cost averaging to build your investment portfolio over time.

Selecting the account and investment

When selecting the account and investment for your recurring buys, it's important to consider your financial goals, risk tolerance, time horizon, and desired level of involvement in managing your investments. Evaluate whether you want to invest in stocks, mutual funds, ETFs, or other eligible securities. You can also choose between non-retirement accounts, such as brokerage or cash management accounts, and retirement accounts, such as traditional, rollover, and Roth IRAs.

Before setting up recurring buys, ensure you already own mutual funds. You can then proceed to select the specific investment account and product that aligns with your financial objectives. It's crucial to familiarise yourself with key investment concepts like diversification, asset allocation, and compound interest to make informed decisions.

Additionally, consider utilising investment calculators to determine the optimal amount to invest regularly based on your financial situation and goals. These tools can provide valuable insights into the potential growth of your investments over time, helping you make informed choices about your investment strategy.

Remember to review and confirm your recurring buys to ensure they align with your wealth-building objectives, investment performance expectations, and long-term financial security goals. This proactive approach ensures that your resources are allocated efficiently towards your financial goals.

Specifying the amount and frequency

Step 1: Navigate to the "Accounts & Trade" Tab

After logging into your Fidelity account, navigate to the "Accounts & Trade" section. This is where you'll find the tools needed to set up and manage your recurring investments.

Step 2: Choose the "Recurring Purchases" Option

Within the "Accounts & Trade" section, look for and select the "Recurring Purchases" option. This will allow you to set up regular investment transactions according to your desired schedule.

Step 3: Select the Account and Investment Type

Choose the specific investment account and the type of investment you want to set up recurring buys for. This could be stocks, mutual funds, ETFs, or other eligible securities. Ensure that your choices align with your financial goals and investment strategy.

Step 4: Specify the Amount and Frequency

Now, it's time to decide on the amount and frequency of your recurring investments. You can choose to invest a fixed amount daily, weekly, bi-weekly, or monthly. Fidelity offers flexibility, allowing you to set up multiple schedules to achieve your desired investment frequency. For example, you can create a plan to invest on the 1st and 15th of each month for a bi-weekly strategy.

When determining the amount, consider your financial plan and investment goals. You can start with a small amount and increase it later if needed. The minimum amount for auto-investing with Fidelity is $10.

Step 5: Review and Confirm Your Choices

Before finalizing, carefully review your recurring investment schedule to ensure it aligns with your wealth-building objectives and long-term financial goals. You can always adjust your choices later if needed, but it's essential to start with a well-thought-out plan.

By following these steps, you'll be able to specify the amount and frequency of your recurring investments with Fidelity, allowing you to automate your investment strategy and work towards your financial goals.

Frequently asked questions