Fidelity Goal Booster is a free digital savings and investing experience that helps employees save for goals outside of retirement, such as emergency savings. It's a popular offering among employers, with close to 1,500 Fidelity workplace clients using it. Companies like Whole Foods, Delta Air Lines, and Starbucks have added the tool to their employee benefits offerings. But what if you're not part of a company that offers Fidelity Goal Booster?
The good news is that you can still access the platform. Here's how:
Open a Fidelity Cash Management Account. This is a free checking account that offers unlimited check writing, ATM withdrawals, and debit card purchases.
Fund your account with a minimum of $50. You can do this by transferring money from another bank account or by setting up a direct deposit from your paycheck.
Once your account is funded, you can access Fidelity Goal Booster. To do this, simply log into your Fidelity account and click on the "Goal Booster" tab.
From there, you can set up a savings goal, choose an investment strategy, and start saving. Fidelity Goal Booster will automatically invest your money in a diversified portfolio of low-cost funds. You can also set up recurring transfers from your Fidelity Cash Management Account to your Goal Booster account.
Here are some additional benefits of using Fidelity Goal Booster:
It's free and easy to use. There are no enrollment fees or account maintenance fees.
It's customizable. You can choose a savings goal, investment strategy, and auto-transfer amount that works for you.
It's portable. If you leave your job, you can keep your Fidelity Goal Booster account and continue saving for your goals.
Over 1 million employees are currently using the platform. If you're looking for a way to save for your emergency fund or other short-term goals, Fidelity Goal Booster is a great option, even if you're not part of a company that offers it.
Here are some tips for accessing Fidelity Goal Booster if you're not part of a company that offers it:
Talk to your HR department. See if they're interested in offering Fidelity Goal Booster to employees.
Consider using Fidelity's self-employed retirement plans. These plans offer access to Fidelity Goal Booster, even if you don't have a traditional employer.
Open a Fidelity Individual Retirement Account (IRA). IRAs also offer access to Fidelity Goal Booster.
Here are some additional tips for saving money using Fidelity Goal Booster:
Set realistic savings goals. If you are building your emergency fund, aim to save at least 3-6 months of living expenses.
Set up automatic transfers from your checking account to your Fidelity Goal Booster account. This way, you'll be consistent and save money without even having to think about it.
Take advantage of round-ups. Round-ups are a great way to save money without even noticing. When you use your debit card, Goal Booster will round up your purchase to the nearest dollar and transfer the difference into your savings account.
Review your progress regularly. Log into your Goal Booster account regularly to track your progress and make adjustments to your savings plan as needed. Seeing how much money you've saved can help you stay motivated.
Celebrate your successes! When you reach a savings goal, take some time to reward yourself.
Fidelity Goal Booster is a great tool to help you reach your savings goals. Even if you don't have access to Goal Booster through your employer, you can still use the platform to save for your future.