Fidelity Investments
May 25th, 2005
Question: I have a 401K at work through Fidelity Investments, should I invest elsewhere?
I deposit 6% of my check every paycheck to my 401k and the company I work for matches it dollar for dollar. The trouble is, I don’t have a lot of Options to choose from in terms of where I want the money invested. I can choose an agressive, moderate, or conservative risk and they go to the places that Fidelity sees fit. My question is, should I invest in stocks elsewhere on top of my 401k? I’m 25 years old by the way.
Answer: Yes, and it is a great thing to do.
You can open an IRA or a regular brokerage account at Fidelity and you will find that you have tons of choices.
(The Options in a 401K are generally much fewer, depending on your company’s deal with Fidelity. When you opn an account directly with Fidelity, it’s a completely different experience)
If you are starting out, you should start with Fidelity’s S&P500 index fund and then do some studying before branching out to other funds or individual stocks. And if you never get around to branching out, you will still do well.
Fidelity is a great place to put your money for funds or stocks. This does not mean that all Fidelity funds are good (though many are), but it is a good, low-cost brokerage.
Fidelity Investments
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