Fidelity 401k Brokerage Account: A Guide to Retirement Savings and Loans

The Fidelity 401k brokerage account is a great way to save for retirement, with a wide range of investment options and flexible management.

Fidelity offers a variety of investment options, including stocks, bonds, ETFs, and mutual funds, allowing you to diversify your portfolio and potentially grow your savings over time.

With a Fidelity 401k brokerage account, you can contribute up to $19,500 in 2022, and an additional $6,500 if you're 50 or older.

You can also borrow up to $500,000 from your Fidelity 401k account with a 5% annual interest rate, but be aware that this may impact your retirement savings.

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To open a Fidelity 401(k) brokerage account, you'll need to create a Fidelity account online or by phone.

You can fund your account with a one-time deposit or set up automatic transfers from your paycheck.

Fidelity offers a range of investment options, including stocks, bonds, and mutual funds.

After submitting your Fidelity brokerage forms, you can expect to receive an email from Fidelity Investments within 5-7 business days (not including holidays) indicating that their system has updated your email address. This means your application is in processing.

You can check if your account is fully set up without waiting for the Fidelity Welcome Letter in the mail. To do this, try logging in using one of the following methods.

Once your account is established, you can access it on the Fidelity website.

To open a 401(k) account, you'll need to gather some specific documents.

My Solo 401k Financial prepares plan documents in just 24 hours.

To open a Fidelity Solo 401k with checkbook control, you'll need to submit your plan documents along with Fidelity's special brokerage account forms.

Fidelity's special brokerage account forms and checkbook paperwork will be filled out for you by My Solo 401k Financial.

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Understanding your Fidelity 401(k) brokerage account can be a bit overwhelming, but don't worry, we've got you covered.

Your Fidelity 401(k) brokerage account is designed for small businesses with qualified plans, allowing you to include Fidelity offerings.

There are no investment minimums required to get started with this account.

You won't have to pay any account fees, which is a huge plus.

One of the best things about this account is that it offers tax-deferred growth, which can help your savings grow over time.

This account also provides flexible investment options, so you can choose the investments that work best for you.

Here are some key features of your Fidelity 401(k) brokerage account:

You can log in to your Fidelity 401(k) brokerage account online or through the mobile app to view your account information and make changes.

To ensure the security of your account, Fidelity requires you to create a strong password and answer security questions.

You can change your password and security questions as needed, but you'll need to answer the current security questions correctly before making any changes.

Fidelity offers several account management tools, including the ability to set up automatic investments and transfers.

You can also set up alerts to notify you of important account activity, such as large transactions or changes to your account balance.

To request a withdrawal from your account, you'll need to log in and submit a withdrawal request online or by phone.

Fidelity will review your request and process the withdrawal according to your account settings and any applicable rules or restrictions.

The Fidelity mobile app allows you to manage your account on the go, including viewing your account balance and making changes to your investment portfolio.

You can also use the app to access customer support and get help with any account-related questions or issues.

With Fidelity's retirement savings options, you can simplify your finances and grow your wealth over time. You can consolidate your old 401(k) and workplace accounts into a centralized account without taxes or penalties.

Fidelity offers a variety of retirement savings options to suit different needs and preferences. No account fees or minimums are required to open an account, making it easy to get started.

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One option is to take advantage of tax-deferred investing for your retirement. By saving for retirement and reducing your taxable income, you can potentially earn more without paying taxes on your gains.

You can also choose from a range of investment options to continue saving for retirement. This way, you can grow your wealth over time and enjoy a more secure financial future.

If you're looking for a more hands-off approach, you can opt for a professionally managed stock portfolio. With a minimum investment of $5,000, you can have your potential earnings grow tax-deferred in this account.

Here are some key features of Fidelity's retirement savings options:

Whether you're changing jobs, getting ready to retire, or simply looking to save for the future, Fidelity has a retirement savings option that's right for you.

You can borrow money from your Fidelity 401k plan through a Solo 401k loan, which can be processed directly from the Fidelity brokerage account.

To take out a loan, you'll need to prepare the necessary documents, which will then be processed by Fidelity.

Fidelity requires new brokerage forms to be filled out for a self-directed solo 401k, which will allow you to invest in alternative investments like real estate.

The existing solo 401k account will be restated to our solo 401k plan, which permits 401k participant loans and alternative investments.

You'll receive a checkbook in the mail for the new solo 401k account, allowing you to place your alternative investments, or you can process investments via wire.

Fidelity will internally transfer the existing solo 401k equity holdings and cash to the new brokerage account for the self-directed solo 401k.

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A 401(k) loan can be a convenient option for accessing your retirement funds when needed. You can borrow money from your 401(k) plan, but be aware that it's considered a loan from yourself.

Solo 401k loans, in particular, can be processed directly from the plan's Fidelity brokerage account. This can make the process more efficient.

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Taking a loan from your 401(k) plan typically doesn't affect your credit score, since it's a loan from yourself. However, you'll need to repay the loan, usually with interest.

Repaying a 401(k) loan requires regular payments, which can be set up through payroll deductions. This can help you get back on track with your loan payments.

You'll need to follow the plan's rules and procedures for taking out a 401(k) loan, which may include preparing loan documents.

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You can roll over existing retirement accounts into a solo 401(k) plan without taxes or penalties. Fidelity Investments will not simply re-title the existing account, requiring new brokerage forms to be filled out instead.

To rollover an existing Fidelity solo 401k, KEOGH, or PSP account, you'll need to have it restated to our solo 401(k) plan, which allows for 401(k) participant loans and investing in alternative investments like real estate. We'll prepare new Fidelity brokerage account forms to open a new brokerage account for the self-directed solo 401(k).

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A new brokerage account will be opened for the self-directed solo 401(k), and you'll receive a checkbook in the mail for placing your alternative investments, or you can process the investments via wire. Fidelity will internally transfer the existing solo 401(k) equity holdings and cash to the new brokerage account.

You can consolidate your old 401(k) and workplace accounts into a centralized account without taxes or penalties, with no account fees or minimums to open an account. This option is great for someone who is changing or leaving a job or getting ready to retire.

Here's a step-by-step overview of the rollover process:

With a Fidelity 401(k) brokerage account, you have access to a wide range of investment options.

Your employer may have chosen some great investment options for you to choose from, including various asset classes. These options can be a good starting point for your investment portfolio.

However, you may find that some asset classes, such as Bond Funds and International Investments, are limited in your employer's selection.

One solution is to use BrokerageLink to supplement your investment portfolio with additional options. This can help you achieve a more balanced portfolio allocation.

Save for retirement and reduce your taxable income with a Fidelity 401(k) brokerage account, which offers tax-deferred investing.

Here are some benefits of tax-deferred investing:

With a Fidelity 401k brokerage account, you can rollover funds from your former employer plan to a brokerage account at Fidelity for no additional charge.

If you're self-employed with no full-time W-2 employees, you can set up a solo 401(k) and take advantage of this option.

Your solo 401(k) will be governed by IRS-approved plan documents, giving you flexibility in how you invest your funds.

You can invest your rolled over funds via the brokerage account or explore alternative investments like passive real estate.

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As a business owner, you have a range of options for retirement accounts that can help you save for the future. One option is a SIMPLE IRA, which offers no investment minimum and no account fees.

If you're looking for a more comprehensive plan, you might consider a 401(k) Plan for Small Businesses℠, which is designed for small businesses with qualified plans. This plan is a great option for those who want to include offerings from Fidelity.

For those who want a more straightforward savings plan, the Attainable Savings Plan is a good choice. It's a simple way to save for retirement without a lot of fuss.

Here are some key features of these plans:

These plans are all designed to help business owners save for retirement and achieve their long-term financial goals.