I created a Roth IRA through Fidelity about a year ago. When I first made my contribution I decided to put the max annual amount ($6,000) into the account and purchase funds immediately.
I put most of it FSKAX with the rest going to some select technology funds. FYI I am already contributing to a 401k through my employer that is setup for a target retirement date fund.
In January 2022 I did the same thing and put the max annual contribution amount into the same funds. Obviously this was not a smart choice as the market has tumbled almost month after month since then. I’ve lost about 15% on average since initially funding the account.
I wanted to know if there was something else I should or could be doing with the money in the Roth IRA, or if I should just leave it and in the future only purchase funds at regular intervals throughout the year, rather than a lump sump at the beginning of the year.
Lump sum is best. You did not do anything wrong. Keep buying
Is the reason you believe it was a mistake because the displayed value has gone down?
Or is there any other specific mistake you are referencing?
Assuming you’ve got a long investing time table you made the right choice.
Lump sum beats DCA in the long run.
Just let it build and compound until retirement
Just because it’s down doesn’t mean you made a mistake… You made a good choice and you should make similar choices going forward because those are the kinds of choices that will yield long term success.
History shows the longer your money is invested, the better. Lump sum on January 2 is the way to go.
The flip side to your argument is that you don’t want your money on the sidelines when there’s a big market run-up.
Most feel what you’re feeling. It happens
It will all average out over time. You only lose when you sell at a loss.
As a side note, I would not recommend buying ETFs as a long term investment, nor buying funds with a higher than 1% expense ratio that you expect to hold for the long term. Those tend to be more expensive to you than other funds.
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