Which Fidelity Mutual Fund should I invest in?

I have $4000 in my Fidelity Roth IRA right now all invested in FFFHX (Fidelity Freedom Fund 2050). I am 22 years old. I am aware that I'm getting fees charged twice since the Freedom Funds are invested into other funds. I was wondering what other mutual funds I can invest in for growth.

Do you think the Freedom Fund 2050 is a little bit on the conservative side for someone my age?

Thanks.

I just opened my roth IRA this year, and have fully invested the max for this year already. I plan to put an additional $5000 (which is the maximum) this year. I am aware that most mutual funds have a $2500 minimum, but I just wanted information on mutual funds I can invest in before I get to that point.

Thanks for the help!

For sure the " Freedom Funds" are conservative for your age...as a matter of fact for any age...but that is the "safety" portion of your portfolio. I really don't think you can diversify very much with only $ 4000. in your account....
I think you have to sell it all, and try a different approach....You need $ 2500. to get into a new fund and you can buy into an ETF with the remaining amount ( approx $ 1470. )
You can go one of two ways...aggressive, international with the $ 2500. and maybe an " energy ETF" ( even alternative energy) That would be $ 2500 into FEMKX...and about 50 shares of PBW. ( alternative energy ETF )
Or you can do it the other way...$ 2500 into FNARX ( an energy fund from Fidelity) and then the rest of the money into EEB or EEM ...ETF's of either " Brazil, Russia, India,China" or " emerging markets"
This may sound complicated to you if you haven't " moved" funds before...BUT it's not...and it is the way to make your money grow.
I have two daughters...a little older than you... two different IRA's ( both Fidelity) are set up something like I outlined above.... Their gains have been in the 30 to 40 percent range for over three years..( making it possible to buy even more diverse holdings)
I can't guarantee you results like that ( no one can)...but when you are young you can, and should, be alittle more aggressive than Freedom funds....and also learn what else is available to you.
....one note: when buying or selling ETF's you are charged a trading fee...( ours is only $10. ...smaller accounts may be charged more ) DO NOT SWEAT the fees..either in "trading" or in "management".... you usually make more in ONE day than any yearly fee... and the same with a trading fee.
I hope this was all clear enough... I know if stuff gets too drawn out, it's a real turn-off. Don't let it be ...the difference down the road ( in 35 or 40 years) will be astronomical !

If all the above sounds TOO risky...here's one more avenue...$2500 into FGBLX ( balanced, cautious, but global) and then maybe two $ 700. chunks of ETF's ...( different amounts because you're paying " per share" not a certain amount)
Good luck...

Why do you say you are getting charged twice? Is Fidelity putting an added fee on their target date funds beyond the included funds? Somehow I doubt that.

Yes, it's a bit conservative :-) I think the idea of growth certainly suits you. Please give Fidelity International Small-Cap Opportunities a try.

Why not go with a Fidelity Index fund? It will mimic a certain index of the market like the S&P 500. With the low turnover, costs will be at a minimum and taxes will also be low. Most index funds beat the average mutual fund because its not attempting to beat the market.

I'm not sure I would classify a fund that is nearly 90% stocks as too conservative, no matter what your age is. 100% stocks is more agressive, but not all that diversified (in my opinion).

Otoh, if you wanted to go 100% stocks, Fidelity has many fine funds with which to do this. I believe the .84 expense includes all fees.

Not sure what those double fees are.

At your age you can afford to be much more aggressive. Fidelity does have a fund that invests in Latin America. That has to be more aggressive. and incidentally has done wonderful in the last 10 years.

2 other ideas to consider. 1 - invest regularly (monthly for instance) into this fund the same dollar amount each time. This is Dollar Cost Averaging. 2.... Don't get hung up looking at the value of your investment more than about 2 times per year.

This is for your retirement and you will make yourself sick like a viscious rollercoaster ride if you watch it too closely.

I don't believe that you are paying double fees. The expense ratio on this fund is 0.84% which is consistent with many of Fidelity's regular equity funds.

Freedom 2050 was up 11.29% as of December 26. Fidelity has a number of funds that did better, but you could do much worse. You're ahead of the S&P 500, which is better than most mutual funds can claim.

The advantage to FFFHX is that you are diversified over large cap, mid cap, small cap, and international stocks (plus a few bonds) with one investment. That's impossible to do with only $4,000 using conventional equity funds. If you'd rather be more aggressive and try for higher returns, then you can find any number of funds that did better on Fidelity's website. If you'd rather buy it and forget about it, you could do a lot worse than this fund.