@@MillennialFinance101 yea I’m not sure. When you go to trade you have to select “ buy specific shares” then it takes you to another page and you can select shares or dollars.
@@MillennialFinance101 Gotcha. I just started with Fidelity in February so it probably is a new feature then. I wish they could let you do more with transfers like let you transfer every week or bi weekly ( how most people get paid ) but you can only select a day. I also invest with M1 Finance and it lets me transfer every Monday which is great.
Stick to safe spy/qqq (these are established companies with high cash flow). WCLD and arkf will have risk which is why they are all plummeting!! Buy and hold and should be fine though. Good luck my friend.
I am opening a Fidelity account on Monday I’m 54 years old and I want to retire in 10 to 12 years which ETFs are the best to purchase and hold for 10 to 12 years on the Fidelity app. Thank you.
Thanks for the video. Qq… should I do this every month when I deposit $1000?? Can’t we make auto investment of this $1000 into the same ETF every month?
Thanks Jim. Yeah I always here people say it but not ever executed. The closest thing to dollar cost averaging is 401k contributions each month. I’m still figuring out how I can automate my buys like a 401k. Autopilot is the best way for dollar cost averaging.
Hey Min! Do I need to purchase the funds manually every month or does Fidelity have a auto investment feature to purchase the funds for you automatically? Thank you for the content!
Manually each month. The only way to automate is with their fidelity mutual funds. I like to just send money in automatically and check for a red day to purchase the same funds each month.
it doesn't really matter what you put. If you put 1000+, i think someone will call you to try to sell you more products :). I put 30 a year or something like that.
@@MillennialFinance101 hi again, did you buy any other ETF other than the four ETF you started with, or just leave it as is? or did you sell any of it? thanks
@@saileyonoga1905 I did not buy any other ETF other than the 4 I mentioned. I am holding these until I retire. Not selling this portfolio and will invest consistently so i can show you guys what happens in 1 year or 2 or 3 :). it has recovered already from that tech downturn the day after I bought also!
You also don't want to sell if it's a personal brokerage because you will be hit with short term capital gains tax. At minimum, hold for 1 year before you sell if you must sell. You'll pay less taxes if you have gains.
This really depends on where you live and if you'll have your home paid for by the time you retire. For me, I plan to have passive income streams that make up some of my income, my dividend income and withdraw from my retirement accounts. I don't plan to leave my kids anything except my homes lol.
I have monthly deposits in Robinhood and bi-weekly deposits in Vanguard. Not huge amounts like you! 😂 Eventually! It’s in my future - it’s possible for everyone! 🙌🏻
Something is better than nothing! It takes time to build up career for more funds. I didn’t start making 401ks until I made well over 6 figures. My retirement accounts took a nice hit today lol. I should have made this video today and not on 9/2 lol!
Can you break down what your messages you do? Monthly deposits in Robin Hood and biweekly deposits and Vanguard I currently have Robin Hood and I want to pick up Fidelity I want to do the same that you do. How are you splitting up the money how does it work?
Yes you basically invest same amount each month. Sort of like your 401k contributions from payroll. Or you can invest whenever you feel like you have extra cash
I like botz (or the ark version of it). Might have to switch it up some in the future lol. Health feels slow to me unless they figure out how to cure cancer or live longer or clone people lol...
I have a question regarding adding funds monthly to your account. So after adding the funds and selecting your trades, when you add funds monthly do you have to add the funds to the same stocks like new or is there an option to just add funds to the existing trades you've selected before. Thanks
Fidelity only allows "automatic" investing into mutual funds (so if you want to truly have automatic investing, you would need to choose one of their mutual funds). For these ETFs in the video, I just have it setup to deposit money into my "Core Position" which is a money market that fidelity has defaulted for direct deposit funds. I just buy it on the 2nd each month. Perhaps I will find some mutual funds in the future if this gets old (and it will! since it's not automatic!!). Thanks for the question!
Tech stocks looking like they are failing hard on 9/3/2020! A great reason for dollar cost averaging!
Is it the same as NETBENEFIT FIDELITY?
Not sure
Great video! Thanks for making!
Np
You can do fractional shares on the desktop as well.
Must be new !
@@MillennialFinance101 yea I’m not sure. When you go to trade you have to select “ buy specific shares” then it takes you to another page and you can select shares or dollars.
Yeah back in September it didn’t let me do that it seems. That’s nice!
@@MillennialFinance101 Gotcha. I just started with Fidelity in February so it probably is a new feature then. I wish they could let you do more with transfers like let you transfer every week or bi weekly ( how most people get paid ) but you can only select a day. I also invest with M1 Finance and it lets me transfer every Monday which is great.
Yeah... I end up just putting money in each month on the 26th so it’ll be ready for the 1st.
Great video
Thanks!!
Thank you for this helpful video!
Of course!
Thanks for the video. it is very helpful while i'm was trying to pick ETF stocks.
Stick to safe spy/qqq (these are established companies with high cash flow). WCLD and arkf will have risk which is why they are all plummeting!! Buy and hold and should be fine though. Good luck my friend.
Thank you for sharing
No problem!
Nice video. Just a easy to learn strategy to investing. Brilliance is in simplicity. You did a good job!
Thanks! Glad you enjoyed it
QQQM is identical to QQQ but with a cheaper expense ratio.
Glad I found your channel bro. Learning a lot.
Welcome
Thank you, very informative!
Start investing early! Your best egg awaits!
So for fractional shares, do I not need to worry about using Limit option. Always use Market?
Yes you should use limit also on that but it’ll likely not jump too crazy so market is ok here
♥️ your show Mihn. I'm 56.. Are ETF'S better than ROTH IRA or growth mutual funds for someone closer to retirement.
I would go for dividend paying etf like sphd when closer to retirement. The tax rates on qualified dividends are 0-15%. That’s part of my strategy!
I am opening a Fidelity account on Monday I’m 54 years old and I want to retire in 10 to 12 years which ETFs are the best to purchase and hold for 10 to 12 years on the Fidelity app. Thank you.
Good ETF picks. QQQ and WCLD were great for 2020.
They have been solid! Wcld and arkf are up 15+% since this video and qqq 7%. This also includes my monthly dollar cost average purchases. Not too bad!
Thanks for the video. Qq… should I do this every month when I deposit $1000?? Can’t we make auto investment of this $1000 into the same ETF every month?
Yeah and be consistent about it. Or buy one a red day if you want to.
Auto investments only work on fidelity mutual funds it seems. Kinda lame lol
Thanks for clarifying my question….. you got a new subscriber 😀
Great all around video. Dollar cost averaging strategy especially explained well.
Thanks Jim. Yeah I always here people say it but not ever executed. The closest thing to dollar cost averaging is 401k contributions each month. I’m still figuring out how I can automate my buys like a 401k. Autopilot is the best way for dollar cost averaging.
Hi thanks for the video. Very well explained. Please one question: do i need to hold several shares of the same ETF?
You can buy fractional shares so it’s up to you how many or how you want to allocate
Dude you’re reading my mind! Lol. I got in on Apple when it dipped today and Tesla, again, at 385. THIS IS THE CHAOS I KNEW WOULD ENSUE 🖖🏻👽🖖🏼
It’s gonna be hurt tomorrow. The futures and after hours are wayyyy down lol
Millennial Finance 101 - I’ve predicted it could go down to 200 lol, I would buy it again haha
Hey Min!
Do I need to purchase the funds manually every month or does Fidelity have a auto investment feature to purchase the funds for you automatically?
Thank you for the content!
Manually each month. The only way to automate is with their fidelity mutual funds. I like to just send money in automatically and check for a red day to purchase the same funds each month.
in the personal info on the bottom it asks how many trades do you expect to make? optional what do i select? thanks
it doesn't really matter what you put. If you put 1000+, i think someone will call you to try to sell you more products :). I put 30 a year or something like that.
@@MillennialFinance101 hi again, did you buy any other ETF other than the four ETF you started with, or just leave it as is? or did you sell any of it?
thanks
@@saileyonoga1905 I did not buy any other ETF other than the 4 I mentioned. I am holding these until I retire. Not selling this portfolio and will invest consistently so i can show you guys what happens in 1 year or 2 or 3 :). it has recovered already from that tech downturn the day after I bought also!
You also don't want to sell if it's a personal brokerage because you will be hit with short term capital gains tax. At minimum, hold for 1 year before you sell if you must sell. You'll pay less taxes if you have gains.
@@MillennialFinance101 awesome!!! thank you
whats the minimum amount per month you would need to live comfortably for a single person?
That would depend on your level of confort, lol
This really depends on where you live and if you'll have your home paid for by the time you retire. For me, I plan to have passive income streams that make up some of my income, my dividend income and withdraw from my retirement accounts. I don't plan to leave my kids anything except my homes lol.
I have monthly deposits in Robinhood and bi-weekly deposits in Vanguard. Not huge amounts like you! 😂 Eventually! It’s in my future - it’s possible for everyone! 🙌🏻
Something is better than nothing! It takes time to build up career for more funds. I didn’t start making 401ks until I made well over 6 figures. My retirement accounts took a nice hit today lol. I should have made this video today and not on 9/2 lol!
Find yourself an ev or autonomous driving etf. I see that being a game changer in trucking. That’s why I like tesla
Millennial Finance 101 - Yep! Baby steps until I’m comfortable to jump!
Can you break down what your messages you do? Monthly deposits in Robin Hood and biweekly deposits and Vanguard I currently have Robin Hood and I want to pick up Fidelity I want to do the same that you do. How are you splitting up the money how does it work?
@@garyschmelzer this year I maxed out my ROTH in one go and now add to my investing whenever I can
Even as a Vanguardian, I approve this message 🤣
lol i won't invest in vanugard unless they hire some decent people to re-write their web app and mobile app
@@MillennialFinance101 Thats the biggest complaint I get from people I show Vanguard too lol
I always wanted to try this but was too afraid and didn’t know how to start. Thanks for the video! Question: do I need to put money in every month?
Yes you basically invest same amount each month. Sort of like your 401k contributions from payroll. Or you can invest whenever you feel like you have extra cash
The only ETF I’m in is BOTZ. Still looking into other ETFs like green energy and healthcare.
I like botz (or the ark version of it). Might have to switch it up some in the future lol. Health feels slow to me unless they figure out how to cure cancer or live longer or clone people lol...
I have a question regarding adding funds monthly to your account. So after adding the funds and selecting your trades, when you add funds monthly do you have to add the funds to the same stocks like new or is there an option to just add funds to the existing trades you've selected before. Thanks
Fidelity only allows "automatic" investing into mutual funds (so if you want to truly have automatic investing, you would need to choose one of their mutual funds).
For these ETFs in the video, I just have it setup to deposit money into my "Core Position" which is a money market that fidelity has defaulted for direct deposit funds. I just buy it on the 2nd each month.
Perhaps I will find some mutual funds in the future if this gets old (and it will! since it's not automatic!!).
Thanks for the question!
I don't understand anything about what your talking about😰
One day I will teach you!
Great information. Thank you!