Quick question

[calculatethis]

I was eager to open a roth IRA, so I opened one with Sharebuilder.com and invested $100 into the S&P 500 EFT. Then I realized that Fidelity has the Roth IRA plan with a minimum requirement of an automatic $200 monthly investment. So i signed up and selected the Fidelity Target Retirement Fund.

So do I close the Sharebuilder account? I'm estimating that with the account closing fees, I'll be out of almost the entire $100, or can anyone tell me if it would be useful to keep the the account open for occcasional stock purchases, or even continue to fund the EFT that I initially purchased.

I'm inclined to cut my losses right now and put all my available funds into the Fidelity account. What do you think?

Thanks

[kv968]

I'm not sure, but if you opened a Roth IRA with Sharebuilder you should be able to roll that over into your Fidelity account. I don't know all the particulars, but you should get in touch with Fidelity and see if you can move that $100 into your account. I don't see why you couldn't. You'll lose the transaction fee you paid to Sharebuilder to purchase the ETF but you'll get your $100.