Key insights
- A parent is opening a Roth IRA for their child due to income from baby modeling. They are seeking investment advice, considering options like FIJTX, VOO, AMZN, and VTI. The question also addresses the logistics of contributing to the Roth IRA with contract income. This reflects retail investor interest in early investing, which can have a slightly positive influence on market sentiment.
I am such a novice with stocks, trading and Roth IRAs. I just had my first baby and I’m putting $1000 into a Roth IRA for her, because she also just signed with a modeling agency for baby modeling so she has a work permit and income. I have a company Roth IRA with fidelity with shares in FIJTX. What would you buy immediately? FIJTX? VOO? AMZN? VTI?
Also when it comes to her working for herself/contract work like modeling do I just manually add the money every time and manually buy stocks? Is there a better way of doing things?
I know I could get a fidelity advisor, but I’d like to know your opinions as well.