How to Open a Roth IRA at Fidelity: Step-by-Step Guide for Beginners
If you’ve read our post on what a Roth IRA is and you’re ready to open one, this guide walks you through exactly how to do it – step by step, screen by screen.
We’ll use Fidelity as our walkthrough. It’s one of the most beginner-friendly brokerages available, has no account minimums, no fees, and lets you start investing with as little as $1. If you prefer Schwab or Vanguard, the process is nearly identical – we’ll note any key differences along the way.
Opening a Roth IRA at Fidelity is one of the easiest ways to start investing for retirement. In this step-by-step guide, we’ll show you exactly how to open a Roth IRA at Fidelity, fund it, and invest your money inside your Fidelity Roth IRA account, even if you’re starting with just $5.
How to Open a Roth IRA at Fidelity (Quick Overview)
Opening a Roth IRA at Fidelity is straightforward and takes about 10–15 minutes. Here’s what the process looks like:
- Create or log into your Fidelity account
- Complete your Roth IRA application
- Link your bank account
- Transfer money into your Roth IRA
- Invest and automate your contributions
Once set up, you can automate your contributions and investments so your money grows consistently over time.
Before You Start: What You’ll Need
Have these ready before you open the account:
- Your Social Security Number (SSN)* — required for all U.S. brokerage accounts
- A government-issued photo ID — driver’s license or passport
- Your bank account information — routing number and account number, so you can fund your account
- Your employment information — employer name and address (you can skip this if self-employed or unemployed)
- Your email address and a password you’ll use to log in
*Don’t have a Social Security Number? If you have an Individual Taxpayer Identification Number (ITIN), you may still be able to open an account — call Fidelity directly at 800-343-3548 to confirm your options before starting online.
Step 1: Go to Fidelity’s Website and Start Your Application
Go to fidelity.com/retirement/roth-ira and click the “Open a Roth IRA” button.
You’ll be asked how you want to manage your investments. For most beginners, the self-directed option makes the most sense – it gives you full control, has no advisory fees, and pairs well with the step-by-step investing guide in the next post in this series. The other option, Fidelity Go®, is a managed service where Fidelity picks your investments for you, at no cost under $25,000 and 0.35% annually above that. It’s a legitimate choice for those who prefer a fully hands-off approach.
Schwab and Vanguard offer a similar choice between self-directed and managed. The considerations are the same.
Step 2: Create Your Fidelity Account
If you don’t already have a Fidelity account, you’ll be prompted to create one. You’ll enter:
- Your full legal name
- Your email address
- A password
You’ll then receive a verification email – click the link to confirm your email before continuing.
If you already have a Fidelity account (for example, through a 401(k) from a previous employer), you can log in and add a Roth IRA to your existing account.
Step 3: Fill Out Your Personal Information
This is the main application section. Here’s what you’ll be asked and what to expect on screen:
Personal details:
- Full legal name, date of birth, Social Security Number
- Home address and phone number
- Email address
Employment information:
- Your employment status (employed, self-employed, retired, student, etc.)
- Employer name and address if applicable
- Your occupation
Financial information: Fidelity will ask a few questions about your financial situation – annual income, net worth, and investment experience. These are standard regulatory questions. Answer honestly, but don’t overthink them. There are no wrong answers that will prevent you from opening the account.
Regulatory questions: You’ll be asked if you are:
- A director, 10% shareholder, or employee of a publicly traded company
- Associated with a FINRA member firm or broker-dealer
For most people, the answer to both is No.
Step 4: Choose Your Account Preferences
You’ll be asked a few setup questions:
Dividends: Choose “Reinvest” – this means any dividends your investments earn are automatically reinvested, which supports compound growth over time.
Statements and documents: You can choose paperless (recommended – faster and easier to access).
Beneficiary: Fidelity will give you the option to add a beneficiary – the person who would inherit your account. You can skip this now and add it later, but it’s worth doing. If you’re not sure, you can always update it.
Step 5: Agree to the Terms and Submit
Review the terms and conditions, confirm your information is correct, and submit. Fidelity will confirm your account is open – usually immediately.
You’ll receive a confirmation email with your account number. Save this.
Step 6: Link Your Bank Account and Transfer Money
Your Roth IRA is open – but it’s empty. The next step is to fund it.
Click on “Transfer” or “Transact” in your account dashboard, then select “Deposit/Transfer”.
You’ll be prompted to link a bank account:
- Enter your bank’s routing number (9 digits, found at the bottom left of a check or in your bank’s app)
- Enter your checking or savings account number
- Fidelity may make two small test deposits to verify your account – this usually takes 1–2 business days
Once your bank is linked, you can initiate a transfer. Enter the amount you want to contribute and select “Roth IRA” as the destination account.
How much should you transfer? There’s no minimum. You can start with $5, $25, $100 — whatever is realistic for you right now. The 2026 Roth IRA contribution limit is $7,500 if you’re under 50 (or $8,600 if 50 or older), but you don’t need to contribute all at once.
Important: When transferring, Fidelity will ask which tax year the contribution is for. Make sure you select the correct year. Contributions for the prior year are accepted until Tax Day (typically April 15).
Schwab and Vanguard work the same way – link your bank, initiate a transfer, select your IRA as the destination.
Do You Need to Invest Your Roth IRA?
Transferring money into your Roth IRA is not the same as investing it. Until you actually purchase investments, your money is sitting in cash inside the account, earning very little. You need to take one more step: buy investments.
This is one of the most common mistakes beginners make – and one of the most important steps to get right.
Step 7: Invest Your Money
Here’s a simple starting point for complete beginners:
Option 1: A Target Date Fund
Search for a Fidelity Freedom Index Fund that matches your expected retirement year. For example, if you’re planning to retire around 2055, look for FDEWX (Fidelity Freedom Index 2055). These funds automatically adjust their mix of stocks and bonds as you get closer to retirement — a true set-it-and-forget-it option.
Option 2: A Total Market Index Fund or S&P 500 Index Fund
Index funds are one of the most common starting points for beginners – they’re low-cost, diversified, and don’t require you to pick individual stocks. Two types come up most often:
- Total market index funds track the entire U.S. stock market – thousands of companies across all sizes
- S&P 500 index funds track the 500 largest U.S. companies
Both are solid, long-term options. The differences between them are subtle and worth understanding before you decide.
👉 We break down both in detail, including what to look for and how to find them on Fidelity, Schwab, and Vanguard, in Best Index Funds for Beginners →
To buy either:
- Click “Trade” in your account
- Search for the fund by name or ticker symbol
- Choose “Buy”
- Select “Dollars” (not shares) and enter the amount
- Review and confirm
We go much deeper on what to invest in – including index funds, ETFs, and how to think about building a simple portfolio – in the next post in this series.
This content is for educational purposes only and not financial advice. Always do your own research and consult a licensed financial professional for guidance specific to your situation.
Step 8: Set Up Automatic Contributions
The most powerful habit you can build is automating your monthly contributions so you never have to remember.
In your Fidelity account, go to Accounts & Trade → Transfer → Recurring Transfers and set up a monthly transfer from your bank account into your Roth IRA. Choose an amount that’s realistic and consistent – even $25 or $50 a month adds up meaningfully over time.
Important: A recurring transfer moves money into your account, but it doesn’t automatically invest it. Your cash will sit in your account earning very little until you take the next step.
Step 9: Automate Your Investments
Here’s where most people stop – and where you shouldn’t.
Every time money lands in your Roth IRA, you need to invest it. The good news is Fidelity lets you automate this too, so you never have to log in and manually buy.
Go to Accounts & Trade → Trade → Recurring Investments. From there you can set up an automatic purchase of a specific fund, like the target date fund or index fund you chose in Step 7, linked directly to your bank account. This means every month, a set dollar amount is transferred from your bank and immediately invested into your chosen fund.
That’s the true set-it-and-forget-it setup, and it’s available right inside your Roth IRA at Fidelity.
Pay yourself first – automate it, and let compound growth do the rest.
What to Know Before You Start
If you still have a few questions before getting started, here are a few quick answers:
Is it free to open a Roth IRA at Fidelity?
Yes. Fidelity has no account minimums and no annual fees for Roth IRA accounts.
How long does it take to open a Roth IRA at Fidelity?
Most people can complete the application in about 10–15 minutes, and the account is usually opened immediately.
Do I need a lot of money to get started?
No. You can open and fund a Roth IRA with any amount, even $5. What matters most is getting started and staying consistent.
What happens after I open the account?
Once your account is open, you’ll need to fund it and invest your money. Until you choose investments, your cash will sit in the account and won’t grow meaningfully.
You Did It!
Opening a Roth IRA is one of the most impactful financial moves you can make. The account is open, the money is in, and the clock on your tax-free growth has started.
A quick recap of what you just did:
- ✅ Created your Fidelity account
- ✅ Completed the Roth IRA application
- ✅ Linked your bank account
- ✅ Made your first contribution
- ✅ Invested your money
- ✅ Set up automatic contributions
Next in this series:
- 👉 How to Invest Inside Your Roth IRA — Starting With Just $5 → (Coming soon)
- 👉 Best Index Funds for Beginners → (Coming soon)
New here? Start from the beginning:
