Q. How do I get matched?

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.

Q. Do I have to complete the Education Course to get the match?

A. Yes, in order to get matched, the Education Course must be completed.

Q. How much does the My Why Foundation match?

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.

Q. Does Charles Schwab have a match program?

A. Yes, they do. If you contribute $1,000 within 45 days, they will match $100. For more info, see their program details. When setting up the account, use referral code: REFERCBKZQJ6N.

Q. When does my Charles Schwab account have to be funded to get matched?

A. The account will need to be funded within 45 days.

Q. Do I have to buy a Charles Schwab mutual fund to be eligible for the program?

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.

Q. What mutual funds do you recommend to use?

A. Four mutual funds that would be reasonable to use in your account would be:

  1. SWEGX typically for ages 15-45 (100/0) – potentially highest return/volatility
  2. SWHGX typically for ages 45-55 (80/20) – potentially high return/volatility
  3. SWBGX typically for ages 55-95 (60/40) – potentially average return/volatility
  4. 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.

Q. Is the match program available to anyone?

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.

Q. Do I have to be 18 to participate?

A. Yes, you are required to be 18 years old to open an account. If you are younger than 18, your parents can open an account in your name (called a Custodial account), or they can open a Brokerage Account in their name and make you the beneficiary.

Q. Can I open an account for my Grandkids?

A. Yes, you can open a Custodial Account in their name, or you can open a Brokerage Account in your name and make your Grandkids the beneficiary.

Q. Do I have to open up a separate account for each grandchild?

A. No, you can open up a Brokerage Account in your name and make each of them a beneficiary.

Q. I have never invested in the stock market, so what should I expect?

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.

Q. I have heard mutual funds are diversified; what does that mean?

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.

Q. Should I put my emergency fund in the stock market?

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.

Q. Once my account is funded, how do I buy a mutual fund?

A. The following video will walk you through this process, or review the document Your Path to Prosperity is as Easy as 123 which is on the Resources Tab.