best bank to open an account near me

Important Information

Virtual Assistant is Fidelity’s automated natural language search engine to help you find information on the Fidelity.com site. As with any search engine, we ask that you not input personal or account information. Information that you input is not stored or reviewed for any purpose other than to provide search results. Responses provided by the virtual assistant are to help you navigate Fidelity.com and, as with any Internet search engine, you should review the results carefully. Fidelity does not guarantee accuracy of results or suitability of information provided.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation. 

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 

796549.1.0

Fidelity will reimburse you for losses from unauthorized activity in covered accounts occurring through no fault of your own.

How do I get this protection?
You are automatically covered for all cash and securities held in your covered Fidelity account(s).

What accounts are covered?
Cash and securities in your retirement and non-retirement accounts with Fidelity Brokerage Services LLC, as well as individual workplace retirement accounts under a 401(k), profit sharing, 403(b), or 457 plan for which Fidelity is the record keeper are covered.

What about Fidelity accounts managed by independent investment advisors?
Cash and securities in these Fidelity accounts are covered, but please be aware, as described below, transactions and other activities made by your investment advisor for you are considered authorized by you.

What actions must I take to be eligible?
You must frequently check your account information and promptly review correspondence, account statements, and confirmations as they are made available to you, but no later than 30 days after that information is posted to your account or delivered to you. You must immediately contact and report to Fidelity at 800-544-6666 if you suspect any unauthorized account activity, errors, discrepancies, lose the device you normally use to contact us, or if you have not received your account statements. You must also maintain up-to-date contact information with us so that you may continue to receive our important communications and to ensure that we can contact you in case of suspected unauthorized activity.

What must I do to protect my accounts?
Never share your account access information, including username, password and answers to security questions, with anyone. Never grant remote access to your computer or readback a one-time security password unless you have initiated the service call to a phone number that you have verified to be valid. Fidelity will never contact you to ask for this information or to gain access to your computer. Use a unique username and password for your Fidelity accounts. Use a unique username and password for your Fidelity accounts. If you are a victim of identity theft, change your password and notify us immediately. You should visit our security pages at https://www.fidelity.com/security and learn more about ways to protect yourself.

What if I have a claim?
We will ask for your cooperation with our investigation and may require you to take follow up actions. For example, we may ask you to have a professional computer security company clean your computer hard-drive or may ask you to file a police report, provide an affidavit, take steps to recover the funds from a wrongdoer known to you or sign a release. Fidelity will determine the applicability of the Customer Protection Guarantee and any reimbursement amounts based on the facts of your situation. We do not cover taxes, legal fees, lost opportunity costs, consequential/non-monetary damages or amounts that have been or are eligible to be reimbursed, for example, by a depository bank or through insurance.

What are examples of where I won't be covered?
If you grant authority to, or share your Fidelity account access credentials or information with, any persons or entities, their activity will be considered authorized by you. Losses of cash or securities transferred to outside accounts that are beneficially owned by you are not covered by this guarantee. Also not covered is any activity by an employer/plan administrator, financial intermediary, or third-party who is authorized by you to access your data (or who received your data as a result of that access), or with whom you've shared your username, password, or account number, or from malware or a breach of security that affects the systems of any of those parties.

What assets may not be covered?
Assets including certain annuities and insurance products, Fidelity Advisor Fund accounts, and Fidelity Advisor 529 accounts are not covered because they are held away from or maintained by someone other than Fidelity.

What if I suspect fraud with my credit/debit cards or check-writing?
Credit and debit card and check-writing transactions are not covered by the Customer Protection Guarantee. For fraud which has occurred through such activity, refer to the terms and conditions sent with the card or first order of checks.

The Fidelity Customer Protection Guarantee does not alter any agreements that you have with Fidelity and is offered under the laws of Massachusetts. Check back here for updates, which are effective as of the publication date.

Together, the number of accounts with $1 million or more grew 74.5%, but it’s not clear how many individuals this represents, since investors can have multiple accounts.

Read: This record-breaking figure is now the average 401(k) balance

While terrific news, it shouldn’t come as a surprise: The stock market has been soaring. We reported just last week that the S&P 500 SPX, —the widely-watched investment benchmark—has nearly doubled since the March 2020 pandemic low. Think about that: If you had put money into an index fund that mirrors the S&P, you’d have doubled your money in a year and a half without breaking a sweat.

Doesn’t get much better than that. 

Since Fidelity’s data covers just the 12 months ended June 30, it’s not possible to see if investors also doubled their money since the pandemic low. So I ran the numbers. But even before doing this, I figured the answer was no, because hardly anyone—not even Fidelity’s own highly-paid portfolio managers—can beat the benchmark very often. 

Sure enough, an apples-to-apples comparison shows the S&P 500 rising about 39% over the 12 months ended June 30. Fidelity says its average 401(k) balance rose “just” 24% over the same period, while its average IRA balance had grown 21%. It’s a safe bet that the full March 2020 to August 2021 period would have shown a similar performance gap.  

But so what? A gain of 24% or 21% in a year is fabulous. And there’s a darned good reason for not beating the benchmark: Because if you’re a wise investor, you shouldn’t have all eggs in one basket like the S&P 500 anyway.

Diversification—spreading your investments around—is one of the cardinal rules of successful long-term investing. Spread your bets: Stocks, bonds, commodities, real estate, and don’t forget to hold some cash while you’re at it. And within each of these asset classes, there are subclasses: Large-cap stocks, midcap and small-cap stocks? Growth or value? U.S. or international? Europe, Asia, Latin America, or rapidly-growing Africa? The same sorts of choices await on bonds. Government bonds? Corporate? Munis? Investment grade or junk? Long-term or short-term? On and on, the choices are endless. 

My 401 (k) and IRA accounts haven’t doubled since the pandemic low, but both are up enough to make me happy—and the fact that I’m well-diversified means I sleep well at night. Sleeping well at night? That’s a good return on my money.

Diversification is super important because you never know when one asset class will fall. I don’t know about you, but I certainly didn’t know in early 2020 that we were about to be slammed by a bear market, nor could I guess—nor could anyone else—that it would only last 33 days. After all, going back a century, the median length of a bear market is 302 days, according to Yardeni Research data. Median means that half of all bear markets lasted longer than that. Being diversified helps when the sea gets rough. 

The big gains that so many Americans have seen is also a reminder that it’s time to rebalance their portfolios. Wise investors always have a plan, and perhaps yours involves having, say, 70% of your holdings in stocks. But since stocks have done so well, your portfolio might be a bit top heavy in equities now.

Rebalancing—getting back down to 70% stocks per your plan—is probably a good idea. Investment advisers—and you should have one if you don’t—will generally advise you to rebalance on a regular basis, perhaps once or twice a year. Sell a little of what has done well, buy a little of what hasn’t. Again, the goal here is to avoid having too many eggs in one basket.  

Now for the not-so-good news. While Fidelity’s data is cheerful, it reminds me of something that is not. An entire generation after the 401(k) was born, more than five million employers in the United States still don’t offer this to their employees. That means, says a study by the American Retirement Association, that some 28 million full-time workers—and another 23 million part-time workers—are disadvantaged when it comes to saving for retirement.

Fidelity’s data show hundreds of thousands of people with million-dollar retirement accounts, and I say hurray for them. Their golden years are looking good.

Now if we could only do more to help the tens of millions of Americans who are being left behind.   

Any guarantees under fixed annuities issued by TIAA are subject to TIAA’s claims-paying ability.

Certain products and services are only available to eligible individuals.

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your shares or accumulation units, when redeemed, may be worth more or less than their original cost. 

Current performance may be lower or higher than the performance quoted above.For performance current to the most recent month end, please visit https://www.tiaa.org/public/investment-performance.

The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor.

Fidelity will reimburse you for losses from unauthorized activity in covered accounts occurring through no fault of your own.

How do I get this protection?
You are automatically covered for all cash and securities held in your covered Fidelity account(s).

What accounts are covered?
Cash and securities in your retirement and non-retirement accounts with Fidelity Brokerage Services LLC, as well as individual workplace retirement accounts under a 401(k), profit sharing, 403(b), or 457 plan for which Fidelity is the record keeper are covered.

What about Fidelity accounts managed by independent investment advisors?
Cash and securities in these Fidelity accounts are covered, but please be aware, as described below, transactions and other activities made by your investment advisor for you are considered authorized by you.

What actions must I take to be eligible?
You must frequently check your account information and promptly review correspondence, account statements, and confirmations as they are made available to you, but no later than 30 days after that information is posted to your account or delivered to you. You must immediately contact and report to Fidelity at 800-544-6666 if you suspect any unauthorized account activity, errors, discrepancies, lose the device you normally use to contact us, or if you have not received your account statements. You must also maintain up-to-date contact information with us so that you may continue to receive our important communications and to ensure that we can contact you in case of suspected unauthorized activity.

What must I do to protect my accounts?
Never share your account access information, including username, password and answers to security questions, with anyone. Never grant remote access to your computer or readback a one-time security password unless you have initiated the service call to a phone number that you have verified to be valid. Fidelity will never contact you to ask for this information or to gain access to your computer. Use a unique username and password for your Fidelity accounts. Use a unique username and password for your Fidelity accounts. If you are a victim of identity theft, change your password and notify us immediately. You should visit our security pages at https://www.fidelity.com/security and learn more about ways to protect yourself.

What if I have a claim?
We will ask for your cooperation with our investigation and may require you to take follow up actions. For example, we may ask you to have a professional computer security company clean your computer hard-drive or may ask you to file a police report, provide an affidavit, take steps to recover the funds from a wrongdoer known to you or sign a release. Fidelity will determine the applicability of the Customer Protection Guarantee and any reimbursement amounts based on the facts of your situation. We do not cover taxes, legal fees, lost opportunity costs, consequential/non-monetary damages or amounts that have been or are eligible to be reimbursed, for example, by a depository bank or through insurance.

What are examples of where I won't be covered?
If you grant authority to, or share your Fidelity account access credentials or information with, any persons or entities, their activity will be considered authorized by you. Losses of cash or securities transferred to outside accounts that are beneficially owned by you are not covered by this guarantee. Also not covered is any activity by an employer/plan administrator, financial intermediary, or third-party who is authorized by you to access your data (or who received your data as a result of that access), or with whom you've shared your username, password, or account number, or from malware or a breach of security that affects the systems of any of those parties.

What assets may not be covered?
Assets including certain annuities and insurance products, Fidelity Advisor Fund accounts, and Fidelity Advisor 529 accounts are not covered because they are held away from or maintained by someone other than Fidelity.

What if I suspect fraud with my credit/debit cards or check-writing?
Credit and debit card and check-writing transactions are not covered by the Customer Protection Guarantee. For fraud which has occurred through such activity, refer to the terms and conditions sent with the card or first order of checks.

The Fidelity Customer Protection Guarantee does not alter any agreements that you have with Fidelity and is offered under the laws of Massachusetts. Check back here for updates, which are effective as of the publication date.

Together, the number of accounts with $1 million or more grew 74.5%, but it’s not clear how many individuals this represents, since investors can have multiple accounts.

Read: This record-breaking figure is now the average 401(k) balance

While terrific news, it shouldn’t come as a surprise: The stock market has been soaring. We reported just last week that the S&P 500 SPX, —the widely-watched investment benchmark—has nearly doubled since the March 2020 pandemic low. Think about that: If you had put money into an index fund that mirrors the S&P, you’d have doubled your money in a year and a half without breaking a sweat.

Doesn’t get much better than that. 

Since Fidelity’s data covers just the 12 months ended June 30, it’s not possible to see if investors also doubled their money since the pandemic low. So I ran the numbers. But even before doing this, I figured the answer was no, because hardly anyone—not even Fidelity’s own highly-paid portfolio managers—can beat the benchmark very often. 

Sure enough, an apples-to-apples comparison shows the S&P 500 rising about 39% over the 12 months ended June 30. Fidelity says its average 401(k) balance rose “just” 24% over the same period, while its average IRA balance had grown 21%. It’s a safe bet that the full March 2020 to August 2021 period would have shown a similar performance gap.  

But so what? A gain of 24% or 21% in a year is fabulous. And there’s a darned good reason for not beating the benchmark: Because if you’re a wise investor, you shouldn’t have all eggs in one basket like the S&P 500 anyway.

Diversification—spreading your investments around—is one of the cardinal rules of successful long-term investing. Spread your bets: Stocks, bonds, commodities, real estate, and don’t forget to hold some cash while you’re at it. And within each of these asset classes, there are subclasses: Large-cap stocks, midcap and small-cap stocks? Growth or value? U.S. or international? Europe, Asia, Latin America, or rapidly-growing Africa? The same sorts of choices await on bonds. Government bonds? Corporate? Munis? Investment grade or junk? Long-term or short-term? On and on, the choices are endless. 

My 401 (k) and IRA accounts haven’t doubled since the pandemic low, but both are up enough to make me happy—and the fact that I’m well-diversified means I sleep well at night. Sleeping well at night? That’s a good return on my money.

Diversification is super important because you never know when one asset class will fall. I don’t know about you, but I certainly didn’t know in early 2020 that we were about to be slammed by a bear market, nor could I guess—nor could anyone else—that it would only last 33 days. After all, going back a century, the median length of a bear market is 302 days, according to Yardeni Research data. Median means that half of all bear markets lasted longer than that. Being diversified helps when the sea gets rough. 

The big gains that so many Americans have seen is also a reminder that it’s time to rebalance their portfolios. Wise investors always have a plan, and perhaps yours involves having, say, 70% of your holdings in stocks. But since stocks have done so well, your portfolio might be a bit top heavy in equities now.

Rebalancing—getting back down to 70% stocks per your plan—is probably a good idea. Investment advisers—and you should have one if you don’t—will generally advise you to rebalance on a regular basis, perhaps once or twice a year. Sell a little of what has done well, buy a little of what hasn’t. Again, the goal here is to avoid having too many eggs in one basket.  

Now for the not-so-good news. While Fidelity’s data is cheerful, it reminds me of something that is not. An entire generation after the 401(k) was born, more than five million employers in the United States still don’t offer this to their employees. That means, says a study by the American Retirement Association, that some 28 million full-time workers—and another 23 million part-time workers—are disadvantaged when it comes to saving for retirement.

Fidelity’s data show hundreds of thousands of people with million-dollar retirement accounts, and I say hurray for them. Their golden years are looking good.

Now if we could only do more to help the tens of millions of Americans who are being left behind.   

Important Information

Virtual Assistant is Fidelity’s automated natural language search engine to help you find information on the Fidelity.com site. As with any search engine, we ask that you not input personal or account information. Information that you input is not stored or reviewed for any purpose other than to provide search results. Responses provided by the virtual assistant are to help you navigate Fidelity.com and, as with any Internet search engine, you should review the results carefully. Fidelity does not guarantee accuracy of results or suitability of information provided.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation. 

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 

796549.1.0

Solicitation of this information is authorized by the Civil Service Retirement law (Chapter 83, title 5, U. S. Code) and the Federal Employees Retirement law (Chapter 84, title 5, U. S. Code).The information you furnish will be used to identify records properly associated with your application for Federal benefits, to obtain additional information if necessary, to determine and allow present or future benefits, and to maintain a uniquely identifiable claim file.The information may be shared and is subject to verification via paper, electronic media, or through the use of computer matching programs, with national, state, local or other charitable or social security administrative agencies in order to determine benefits under their programs, to obtain information necessary for determination or continuation of benefits under this program, or to report income for tax purposes.It may also be shared and verified, as noted above, with law enforcement agencies when they are investigating a violation or potential violation of civil or criminal law.

Executive Order 9397 (November 22, 1943) authorizes the use of the Social Security number. Furnishing the data requested is voluntary, but failure to do so may delay or make it impossible for us to process your request.

Important Information

Virtual Assistant is Fidelity’s automated natural language search engine to help you find information on the Fidelity.com site. As with any search engine, we ask that you not input personal or account information. Information that you input is not stored or reviewed for any purpose other than to provide search results. Responses provided by the virtual assistant are to help you navigate Fidelity.com and, as with any Internet search engine, you should review the results carefully. Fidelity does not guarantee accuracy of results or suitability of information provided.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation. 

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 

796549.1.0

Important Information

Virtual Assistant is Fidelity’s automated natural language search engine to help you find information on the Fidelity.com site. As with any search engine, we ask that you not input personal or account information. Information that you input is not stored or reviewed for any purpose other than to provide search results. Responses provided by the virtual assistant are to help you navigate Fidelity.com and, as with any Internet search engine, you should review the results carefully. Fidelity does not guarantee accuracy of results or suitability of information provided.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation. 

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 

796549.1.0

Important Information

Virtual Assistant is Fidelity’s automated natural language search engine to help you find information on the Fidelity.com site. As with any search engine, we ask that you not input personal or account information. Information that you input is not stored or reviewed for any purpose other than to provide search results. Responses provided by the virtual assistant are to help you navigate Fidelity.com and, as with any Internet search engine, you should review the results carefully. Fidelity does not guarantee accuracy of results or suitability of information provided.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation. 

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 

796549.1.0

Together, the number of accounts with $1 million or more grew 74.5%, but it’s not clear how many individuals this represents, since investors can have multiple accounts.

Read: This record-breaking figure is now the average 401(k) balance

While terrific news, it shouldn’t come as a surprise: The stock market has been soaring. We reported just last week that the S&P 500 SPX, —the widely-watched investment benchmark—has nearly doubled since the March 2020 pandemic low. Think about that: If you had put money into an index fund that mirrors the S&P, you’d have doubled your money in a year and a fidelity retirement phone number without breaking a sweat.

Doesn’t get much better than that. 

Since Fidelity’s data covers just the 12 months ended June 30, it’s not possible to see if investors also doubled their money since the pandemic low. So I ran the numbers. But even before doing this, I figured the answer was no, because hardly anyone—not even Fidelity’s own highly-paid portfolio managers—can beat the benchmark very often. 

Sure enough, an apples-to-apples comparison shows the S&P 500 rising about 39% over the 12 months ended June 30. Fidelity says its average 401(k) balance rose “just” 24% over the same period, while its average IRA balance had grown 21%. It’s a safe bet that fidelity retirement phone number full March 2020 to August 2021 period would have shown a similar performance gap.  

But so what? A gain of 24% or 21% in a year is fabulous. And there’s a darned good reason for not beating the benchmark: Because if you’re a wise investor, you shouldn’t have all eggs in one basket like the S&P 500 anyway.

Diversification—spreading your investments around—is one of the cardinal rules of successful long-term investing. Spread your bets: Stocks, bonds, commodities, real estate, and don’t forget to hold some cash while you’re at it. And within each of these asset classes, there are subclasses: Large-cap stocks, midcap and small-cap stocks? How to pay lowes credit card bill or value? U.S. or international? Europe, Asia, Latin America, or rapidly-growing Africa? The same sorts of choices await on bonds. Government bonds? Corporate? Munis? Investment grade or junk? Long-term or short-term? On and on, the choices are endless. 

My 401 (k) and IRA accounts haven’t doubled since the pandemic low, but both are up enough to make me happy—and the fact that I’m well-diversified means I sleep well at night. Sleeping well at night? That’s a good return on my money.

Diversification is super important because you never know when one asset class will fall. I don’t know about you, but I certainly didn’t know in early 2020 that we were about to be slammed by a bear market, nor could I guess—nor could anyone else—that it would only last 33 days. After all, going back a century, the median length of a bear market is 302 days, according to Yardeni Research data. Median means that half of all bear markets lasted longer than that. Being diversified helps when the sea gets rough. 

The big gains that facebook comce book many Americans have seen is also a reminder that it’s time to rebalance their portfolios. Wise investors always have a plan, and perhaps yours involves having, say, 70% of your holdings in stocks. But since stocks have done so well, your chase amazon ca credit card might be a bit top heavy in equities now.

Rebalancing—getting back down to 70% stocks per your plan—is probably a good idea. Investment advisers—and you should have one if you don’t—will generally advise you to rebalance on a regular basis, perhaps once or twice a year. Sell a little of what has done well, buy a little of what hasn’t. Again, the goal here is to avoid having too many eggs in one basket.  

Now for the not-so-good news. While Fidelity’s data is cheerful, it reminds me of something that is not. An entire generation after the 401(k) was born, more than five million employers in the United States still don’t offer this to their employees. That means, says a study by the American Retirement Association, that some 28 million full-time workers—and another 23 million part-time workers—are disadvantaged when it comes to saving for retirement.

Fidelity’s data show hundreds of thousands of people with million-dollar retirement accounts, and I say hurray for them. Their golden years are looking good.

Now if we could only do more to help the tens of millions of Americans who are being left behind.   

Any guarantees under fixed annuities issued by TIAA are subject to TIAA’s claims-paying ability.

Certain products and services are only available to eligible individuals.

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your shares or accumulation units, when redeemed, may be worth more or less than their original cost. 

Current performance may be lower or higher than the performance quoted above.For performance current to the most recent month end, please visit https://www.tiaa.org/public/investment-performance.

The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor.