Can I withdraw dividends from my Fidelity Roth IRA?

ByAmara5

Here’s a summary of the main problem and solutions discussed in the post: Main Problem: The user is unclear about the tax implications of withdrawing dividends from a maxed-out Roth IRA and reinvesting them into an individual account. Solution: Earnings from a Roth IRA can be withdrawn tax-free and penalty-free after 5 years and if…

Fidelity $1 Million Requirement for 0DTE SPY Options

ByAmara5

Summary of User’s Concern and Solutions Discussed: The main problem reported by Jeremy is the requirement of having a $1 million balance in an individual account to access 0DTE SPY options, rather than a combined portfolio balance across multiple accounts. Fidelity representatives clarified that the $1 million requirement applies at the individual account level, not…

Checking status of Rollover into Fidelity Accounts

ByAmara5

Here’s a summary of the main problem and solutions discussed in the conversation: Main Problem: The user, DMO, is trying to check the status of their Letter of Acceptance (LOA) for a rollover into their accounts but finds the process convoluted. Solution Provided: FidelityEmilio suggests a 2-step shortcut on the Fidelity website: after logging in,…

Fidelity 401k to Fidelity Roth IRA

ByAmara5

Summary of User’s Inquiry and Solutions Provided: Main Problem: The user wants to know if their investment positions will transfer when rolling over their 401(k) from Fidelity to a Fidelity Roth IRA, or if only cash will be transferred. Solution: Fidelity advises that current investments may transfer in-kind if they are eligible; otherwise, ineligible funds…

Which stocks/etfs should I put into my Roth IRA

ByAmara5

Here’s a summary of the main problem and solutions discussed in the conversation: Main Problem: The user, Linh, is seeking advice on which stocks, ETFs, or mutual funds to invest in for their newly opened Roth IRA account. Solution 1: Fidelity suggests that there is no one-size-fits-all strategy for investing and recommends using various resources…

How do I withdraw from Roth IRA to a Traditional IRA?

ByAmara5

Summary: The main problem reported by the user is the inability to withdraw funds from their Roth IRA, as they see that there is $0 available to withdraw. The solution discussed includes checking if recent deposits are still collecting, as it may take 2 to 6 business days for funds to become available for withdrawal….

Learning more about ETFs

ByAmara5

Summary: The main problem reported by the user, Cheez, is a desire to understand the nuances of ETFs, including risks associated with managing firms, oversight, and how dividends work. FidelityMichaela responded by offering access to a variety of resources on ETFs available in the Fidelity learning center. Links to additional articles were provided that discuss…

Can’t link bank account that is not owned by me to my Roth IRA account

ByAmara5

Summary of User’s Issue and Solutions: The user is having trouble linking a checking account to their Roth IRA because the account is not owned by them, resulting in a looping error during the process. Suggested solutions include: Clearing the cache and cookies from the browser and restarting the linking process. Trying to link the…

Fidelity Go Roth IRA

ByAmara5

Summary: The user is unsure about the services available for a Roth IRA with Fidelity Go if the account balance is less than $25,000. Fidelity Go invests the user’s money through a robo-advisor once the account balance is $10 or more. Investments are made within 10 business days based on the selected investment strategy and…

Confused About Rolling Over My Roth 401K to IRA

ByAmara5

Main Problem: Luke is confused about rolling over his Roth 401K to a Fidelity Roth IRA, specifically regarding the destination accounts for pre-tax and after-tax assets. Solutions Discussed: Typically, pre-tax assets from a 401(k) should be rolled into a Traditional IRA, while after-tax assets can go into a Roth IRA without tax consequences. It’s important…