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Home > Opened the Fidelity Rollover Account

Opened the Fidelity Rollover Account

June 9th, 2019 at 07:00 am

Opened the Fidelity rollover account. I’ll complete the forms for the 401(k), number 1, today, scan it and email it to be processed.

I’ll have to call and speak with a representative for the 401(k) number 2. Not sure why this is so difficult for $230 dollars.

I’m going to schedule a time to meet with a representative from Fidelity as well.

I’ve decided that I’ll keep the Roth with Vanguard and rollover/traditional with Fidelity. Right now I’m contributing 2% to retirement (Fidelity and Vanguard accounts) it’s not much but it’s a start.

Once I can get a handle on the remaining credit card and student loans, as well as educating myself on investments, I’ll invest more. I’ll continue with this amount and gradually increase each year and at every mile stone (debt paid offs etc). The goal is to be contributing at least the 15% in the next five years.

In stupid tax (debt) news, I took a look at the budget. Looks like I’ll be adding an extra $1,000 💰 to CC10. It sickens me that I can’t add this amount to my retirement but hey. Looks like I may not have this CC paid off until early next year, if I’m only able to throw a $1,000 at it. We’ll see, I may be able to cut a few things or come into some cash.

That’s it for now

To say, I added $10.79 to the rollover, rounding down my checking account, can’t wait for the actual roll overs to hit

3 Responses to “Opened the Fidelity Rollover Account ”

  1. creditcardfree Says:

    There are rules that govern investments, far different transferring these types of accounts than cash from one bank to another. Everyone on all sides is just making sure they have the documentation and all their ducks in a row so to speak. It's not about the amount of the investment. You will be glad that $230 helped get your retirement rolling. Have you used a calculator to see the amount $230 invested for 30 years becomes? It will make you want to pay off your non mortgage debt faster so you can invest more.

  2. Amber Says:

    Thanks CCF

    I still have about another $2600 to transfer, and I’ll definitely check out the calculator. I just really hate I’m so far behind. But I’ve read stories where others started around the same time as me and are doing great.

  3. rob62521 Says:

    Starting is the big thing...so many don't start at all and are facing retirement with no savings or investments. As you get more debts paid down, you will have more money to invest. Just keep going, even a drib and drab there. Compound interest is your friend!

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