Summary of How to Start a Roth IRA with $1000 (Start to Finish)

00:00:00 - 00:10:00

This video is a step-by-step guide on how to open a Roth IRA with $1,000. The host explains how to open an account with fidelity, how to fund the Roth IRA and make a first contribution. The host recommends index funds that give broad stock market exposure.

• 00:00:00 The Roth IRA is a retirement account that offers big advantages over other investment options, including tax-free withdrawals and no required minimum distributions. However, Roth IRAs have smaller contribution limits and income restrictions.
• 00:05:00 In this video, the host provides a step-by-step guide on how to open a Roth IRA with $1,000. They first explain how to open an account with fidelity, and then explain how to fund the Roth IRA and make a first contribution. The host recommends index funds that give broad stock market exposure, and explains that even if you do not have a fidelity account, any brokerage will have an equivalent index fund.
• 00:10:00 This video shows how to start a Roth IRA with $1000. First, you will choose mutual funds and then account. Next, you will type in the fund's symbol and the index fund's price. Finally, you will click on "buy." The video will explain how to buy the index fund and how it works.