Jun 17, 2025 3 min read

Make wealth building easier: six steps for automating saving and investing at Fidelity (and a new Money Monk tool page)!

Apologies for a delayed newsletter from last week. In last week's video I shared six tools that I use to help put wealth building on autopilot at Fidelity (https://youtu.be/dxuaFU52cX8?si=EMzFUh8mHjrF2vWk). A critical part of the wealth-building journey is building a system that makes it easy and painless to invest and save money.

Since we are focused on building wealth over many years (10, 20, 30 years), we want to make it easy on ourselves. If we have to manually remember to keep up with good money habits, it can become extremely easy to let the habits slip, and before long you've went days, months, or years not having your money working for you.

It can also become emotionally difficult to invest when the market is doing poorly, and so we want to avoid the behavioral errors that come with "choosing" when to invest by having our system do it for us consistently and automatically.

So what I decided to share is simply how to do this in the Fidelity ecosystem. It is how I have saved and invested for years. Below are descriptions of each of the steps, and you will find a link to the tool that shares direct links to Fidelity's website for each step at the bottom of this post.

While I am on the topic of tools, I re-did the "Member Tools" section of the site this weekend! A web-designer I am not, but now the page has clean posts for each of the tools I've built so far. From transforming how you think about money (it's your time), the annual financial plan questions I do yearly, etc. I hope they are a help to you! The link to the new Member Tools page is also below.

Here are the six steps:

Decide what accounts to open: you can open an individual cash management account, a business account, and a joint account if you are managing finances with a partner.
Set up automatic investing: decide how often you want to invest, how much you want to invest, and have Fidelity manage investment purchases automatically.
Set up automatic transfers: if it makes saving easier, you can also set up money moves between your accounts. For instance, maybe you transfer $400 automatically to a cash management account that you use for longer-term goals. You can also set up automatic transfers to joint accounts, so this makes it easy to move money into a shared account if you share in expenses.
Set up core positions: make sure that whatever accounts you have setup, that the "core positions" are setup to invest spare cash in a fund that is earning you interest.
Set up automatic re-investments: this part is critical. Bonds and stocks will payout dividends and/or "coupons", which can be thought of almost like interest payments (without getting in the weeds...). You want to make sure that this cash is automatically re-invested into the investments you have chosen. You do not want to have to manually remember to re-invest. The worst thing is to have cash sitting around from these payments not compounding.
Automated fixed income: if you watched the last few weeks of videos on Treasury Bills, you can automate re-purchasing of Treasury Bills and CDs at Fidelity. This is a great way to make sure you are continually buying interest-bearing investments without having to do any work.

And that's it! If you do these six things you will have taken much of the manual burden out of wealth building. Best of luck on building your system, let me know if you have questions!

Thanks,

Greg

Automating Wealth-Building With Fidelity:

All Tools: