A. There are three steps. First, you must complete the Education Course. Second, you will need to open a Charles Schwab account and fund it within 45 days. Finally, you will need to upload a screenshot or monthly statement showing the amount funded and your account number. If you have completed all three steps, the My Why Foundation will match you up to $100.
A. If the Education course is completed and the Charles Schwab account is funded within 45 days, the My Why Foundation will match up to $100. For example, if you contribute $55, then My Why Foundation will match $55.
A. The account will need to be funded within 45 days.
A. The My Why Foundation has highlighted four different mutual funds that are diversified, and encourage investments in mutual funds, but it is not required.
A. Four mutual funds that would be reasonable to use in your account would be:
- SWEGX typically for ages 15-45 (100/0) – potentially highest return/volatility
- SWHGX typically for ages 45-55 (80/20) – potentially high return/volatility
- SWBGX typically for ages 55-95 (60/40) – potentially average return/volatility
- SWCGX for conservative investors (40/60) – potentially less return/ volatility
These are only suggestions. Please consult your financial advisor or Charles Schwab for further choices and questions. Past performance does not guarantee future results and diversification does not prevent losses.
A. The program is generally intended for those who have not invested in the markets in the past, or who are new to the investing experience.
A. While past performance does not guarantee future results, the stock market has gone up over long periods of time. Historically, there have been negative months, quarters, and years, so investing requires a long-term perspective.
A. A mutual funds owns many different stocks, not just one. While a diversified mutual fund doesn’t prevent losses in down markets, it does typically reduce volatility as many different stocks are owned.
A. No, you should not. You need to have a long-term perspective to invest in the stock market and typically need at least a three to five year timeframe to invest money in the stock market.
A. Call 1-800-435-4000.