To modify your 401k contributions through the Fidelity app, follow these simple steps: Launch the Fidelity app on your device. Log in with your credentials. Once you’re logged in, tap the “Accounts” tab at the bottom of the screen. Select the 401k account you wish to modify. Tap the “Contributions” option. Choose the “Edit Contribution” button. Enter your desired contribution amount, either as a dollar value or as a percentage of your salary. Confirm your changes by reviewing the details and tapping the “Save” button. Your updated contribution settings will now be in effect for future pay periods.
Adjusting Contribution Percentage
To adjust your 401(k) contribution percentage using the Fidelity app, follow these steps:
- Open the Fidelity app.
- Tap on the “Menu” icon in the top left corner.
- Select “Retirement Accounts.”
- Tap on your 401(k) account.
- Scroll down and tap on “Contribution Settings.”
- Enter your desired contribution percentage in the “Contribution Amount” field.
- Tap on the “Update” button.
Your contribution percentage will be updated for the next pay period.
Tips:
- You can also adjust your contribution percentage online at Fidelity’s website.
- If you have multiple 401(k) accounts, you will need to adjust the contribution percentage for each account separately.
- The maximum contribution limit for 401(k) plans in 2023 is $22,500 ($30,000 for those age 50 or older).
| Contribution Percentage | Amount Contributed |
|---|---|
| 1% | $20 per paycheck ($40 per month) |
| 5% | $100 per paycheck ($200 per month) |
| 10% | $200 per paycheck ($400 per month) |
The table above shows how much you would contribute to your 401(k) plan per paycheck and per month based on your contribution percentage.
Updating Investment Allocations
Modifying your 401(k) investment allocations through the Fidelity app is a straightforward process. Start by logging in and navigating to the “Investments” section.
- Select the “Edit Allocation” option.
- Adjust your asset allocation percentages, ensuring they align with your risk tolerance and financial goals.
- Click “Save” to confirm your changes.
Note that changes in investment allocations can have long-term implications. It’s wise to consult with a financial advisor before making any significant adjustments.
How to Change 401k Contribution Fidelity App
Managing your 401k contributions through the Fidelity app is a convenient and efficient way to save for retirement. Here’s a guide on how to change your 401k contribution using the Fidelity app:
- Log in to the Fidelity app and tap on the “Accounts” tab.
- Select your 401k account.
- Tap on the “Contributions” tab.
- Under “Recurring Contributions,” you will see your current contribution rate and options to change it.
- Select the “Change” button and enter your desired contribution percentage or dollar amount.
- Tap on the “Confirm” button to save your changes.
Please note that changes to your 401k contributions may take a few days to process. You can check the status of your changes in the “Contributions” tab of the Fidelity app.
Modifying Payroll Deductions
To change your 401k contributions through the Fidelity app:
- Log in to the Fidelity app.
- Tap the “Menu” icon in the top left corner.
- Select “My Account.”
- Tap “Retirement Plans.”
- Select the 401k plan you want to modify.
- Tap “Contribution Details.”
- Enter your desired contribution amount or percentage.
- Tap “Update.”
Your changes will be reflected in your next paycheck.
Alright folks, that’s it for now on how to change your 401k contributions using the Fidelity app. It’s a piece of cake, right? If you have any more questions, don’t hesitate to give Fidelity a holler. I appreciate you sticking with me through this little guide. Thanks for reading, and stop by again soon for more financial adventures!