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.