I love ETFs, but one of my biggest gripes with them has been the inability to set up automated, recurring investments into ETFs. Since they trade in real-time during market open hours, it used to be the case that you couldn’t automate investments into ETFs like you can with mutual funds. But now that’s changed! Fidelity let’s you set up recurring, automatic investments, pulling from an external account into the ETF (or stock or mutual fund) of your choice!

I always have trouble finding which link and buttons to click so this post is the breakdown of exactly how to find it. Setting up recurring investments is the #1 tip I can give you for building wealth. These few easy steps combine so many best practices of investing:

• Pay yourself first. When the money is transferred to your investments automatically, you’re less likely to mistakenly spend it
• Invest early and often. Plowing money each and every month into an investment is what I’m always talking about
• Don’t time the market. Automated investing takes the emotions out of when to invest, giving you better long term returns
• Stay the course. Having automated investment set up will make it less likely you’ll want to reactively change strategies and make it easier to stay the course.

All of these things make it more likely to result in you becoming the most wealthy over time. So if you don’t have automated investments set up, I’d highly recommend considering it! 🙂

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy