Life happens, right? Sometimes, those recurring investments that were once a perfect fit need a little tweak. Perhaps you've had an unexpected expense, a change in income, or you simply want to re-evaluate your financial goals. Whatever the reason, knowing how to pause your recurring investments at Fidelity is a valuable skill.
So, are you ready to take control of your automated contributions? Let's dive in!
Step 1: Log In and Locate Your Investments
First things first, you'll need to access your Fidelity account.
Head to the Fidelity Website: Open your preferred web browser and navigate to
www.fidelity.com Enter Your Credentials: You'll see the login fields prominently displayed. Enter your User Name and Password. If you've enabled two-factor authentication (which we highly recommend for security!), be prepared to enter the verification code as well.
Navigate to Your Accounts: Once logged in, you'll typically land on your portfolio summary page. Look for a section or tab that says something like "Accounts & Trade" or "Portfolio." Click on this to see a detailed overview of your holdings.
Step 2: Identify the Recurring Investment You Wish to Pause
Now that you're in your account, it's time to pinpoint the specific recurring investment you want to adjust.
Locate the "Activity & Orders" or "Transfers" Section: Depending on your Fidelity interface, you'll need to find where your automated transactions are managed. Look for options like "Activity & Orders", "Transfers & Payments", or a similar heading. This is where your recurring investment instructions reside.
Filter by "Recurring": Within this section, there might be options to filter your transactions. Look for a filter specifically for "Recurring" or "Automatic." This will help you narrow down the list to just your automated investments.
Identify the Specific Investment: Scan the list for the recurring investment you intend to pause. It will typically show the fund name, the amount, the frequency (e.g., monthly, bi-weekly), and the next scheduled date. Take a moment to double-check that you've selected the correct one to avoid any unintended changes.
Step 3: Initiate the Pause (or Cancellation)
This is the core step where you'll make the change. Fidelity generally offers options to either pause or cancel a recurring investment. While "pause" might sound like a temporary stop, often the functionality to "cancel" is the most direct way to stop future contributions, and you can always set up a new one later if needed.
Click on the Investment Details: Once you've identified the recurring investment, click on it. This will usually take you to a page with more details about that specific investment.
Look for "Manage," "Edit," or "Cancel": On this detail page, you'll need to find an option to modify the recurring investment. Common labels include:
Manage Automatic Investments
Edit or Cancel
Stop Recurring Investment
Change Contribution
Select "Cancel" or "Stop": While "pause" is the term in the prompt, the most common way to achieve this at Fidelity is to select the "Cancel" or "Stop" option. Don't worry, cancelling here simply stops the future recurring contributions; it doesn't sell your existing holdings.
Confirm Your Action: Fidelity will almost certainly ask you to confirm your decision. Read the confirmation message carefully to ensure you understand what you're doing. It will usually state that future contributions will be stopped. Click "Confirm" or "Submit" to finalize the pause.
Step 4: Verify the Change
It's always a good practice to verify that your changes have been successfully implemented.
Check "Activity & Orders" Again: Go back to the "Activity & Orders" or "Transfers" section where you initially found your recurring investments.
Look for the Status Update: The recurring investment you just paused/cancelled should no longer appear as active, or its status should be updated to "Cancelled" or "Stopped."
Check for Confirmation Emails: Fidelity often sends confirmation emails for significant account changes. Keep an eye on your inbox for a message confirming the cancellation of your recurring investment.
Step 5: Consider Your Next Steps (Optional)
Pausing a recurring investment is often a temporary measure. Think about what you want to do next.
Re-evaluate Your Financial Goals: Is this a permanent pause or just for a few months? Reassess your budget and your long-term financial objectives.
Set Up a New Recurring Investment: If you plan to resume contributions later, or if you want to set up a different recurring investment (e.g., a smaller amount, a different fund), you can easily do so through the Fidelity platform. The process is similar to how you set up the original recurring investment.
Explore Other Investment Options: If the reason for pausing was a re-evaluation of your investment strategy, take this opportunity to research other funds or investment vehicles that might better suit your current needs.
Frequently Asked Questions about Pausing Recurring Investments at Fidelity
Here are 10 common questions with quick answers:
How to temporarily stop recurring investments at Fidelity? You can temporarily stop recurring investments by navigating to the "Transfers" or "Activity & Orders" section, locating the specific recurring investment, and choosing to "Cancel" or "Stop" it. You can always set up a new one later.
How to check if my recurring investment has been paused on Fidelity? Go to your "Activity & Orders" or "Transfers" section. The recurring investment should either be removed from the active list or its status should show as "Cancelled" or "Stopped." You may also receive a confirmation email.
How to restart a paused recurring investment at Fidelity? To restart, you will typically need to set up a brand new recurring investment. Navigate to the "Transfers" or "Invest" section and follow the steps for setting up a new automated contribution.
How to change the amount of a recurring investment on Fidelity? Instead of pausing, you might be able to "Edit" or "Manage" the existing recurring investment to simply change the contribution amount. Look for these options on the recurring investment's detail page.
How to find my recurring investment schedule on Fidelity? Your recurring investment schedule is usually found under the "Transfers & Payments" or "Activity & Orders" section, where you can see all your scheduled transactions.
How to cancel a pending recurring investment order on Fidelity? If a recurring investment is pending and has not yet been processed, you might be able to cancel it from the "Pending Orders" or "Activity" section. Look for an option to "Cancel" next to the pending transaction.
How to get a confirmation of my recurring investment pause from Fidelity? Fidelity usually sends an email confirmation for significant account changes, including the cancellation of recurring investments. Check your registered email address.
How to know if a recurring investment is linked to a specific bank account on Fidelity? When viewing the details of your recurring investment on Fidelity, it will typically show the linked bank account or source of funds.
How to set up a new recurring investment after pausing an old one on Fidelity? Navigate to the "Transfers & Payments" section, choose "Set up new automatic investment" or a similar option, select the fund, amount, frequency, and linked bank account, then confirm.
How to contact Fidelity support if I have trouble pausing my recurring investments? You can contact Fidelity customer support via phone, live chat, or secure message through their website. Look for the "Contact Us" or "Help" section on fidelity.com for their contact information.