Investing noob. Just started putting money in back door Roth IRA. Have been losing money each month. I thought the market was doing well… what gives?

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What is it invested in?

smart

FTI 1, I actually feel like I’m kind of yelling into the wind. I literally don’t know where to go to open an account and I don’t want to get burned or do it wrong, but thanks for the lack of empathy!

EY 1–thanks! This is helpful! I will look into this more when I have time. I understand that I’m paying for not fixing immediately, but I want to understand what I’m doing before I open accounts, etc. I’m mostly just frustrated that I’m getting had and that I have to take on yet another thing. Thank you for your helpful advice throughout.

Look up top ETFs and the 3-fund portfolio. Take a deep breath, you got this. It’s much easier to understand what’s happening with your money than you’re allowing yourself to believe.

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I agree with this, but if OP is young there is probably no need for bonds and a 2 fund would be fine

If you’re somehow only stuck with fidelity fund try fidelity blue chip growth fund… and bit high exp ratio but solid returns

It has obviously done great but no idea if it will continue to beat the market.

I’m 33 if that helps.

Thank you for sharing.

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