I'm sure this code won't work forever. Let's keep it going. When you open a Schwab account how about sharing your own codes? After all we are all friends if not family. Comment under this comment, I'll pin it to the top.
Pay yourself first is the absolute best advice anyone can give when it comes to retiring. Max out that 401k, IRA, and/or 501b if you have one available to you, put as much as you can each month in a traditional brokerage account each pay check, and sit back and watch that money grow. If you are not comfortable making your own investment decisions many brokers offer managed accounts where you select your risk comfort level and they take it from there for a fee that is typically around 1% of your assets under management. The second best piece of advice anyone can give is to limit your spending on things that don't appreciate in value and avoid debt on depreciating assets like cars. Debt for a house is fine and generally necessary for your first house but on a car, TV, clothing, etc it is one of the biggest wastes of money out there. Buy a good used car with cash, buy the smaller TV, go to the outlet for clothes and never ever buy anything that isn't on sale. Learn how to cook, you will be amazed at how much you can save by limiting take out and meals out. Spend some money on the hobbies or trips that make you happy, this is a very important bit and something many will say you need to forego to retire early but there is no sense living so miserly that you are miserable!
You two are just wonderful. Keep up the encouragement to go back to basics. I left the mundane, professional rat race to live a rural life. It's paradise, every day. Blessings to all.
It was good to show how easy this is. For all the non US people, one word: TAXES. Owning and maintaining an investment account in a foreign country ALWAYS has tax implications. The US laws apply and laws in your own country, and reciprocal agreements between those countries. That said, you must have a bank account somewhere, nip down and talk to the branch manager, make an appointment. Bring $100. Have a chat about investing. If they won't do this bring your $100 to a different bank to see if they want your business. You should come away with some notes on what types of accounts are available to you and the pros and cons of each. You should come away with your $100 because either you want to do more research or the financial institution you choose opened your account and gave you a small credit like they did for Emily. I happen to live in Canada and over many years have accumulated several accounts, all but one tax free! After taxes come FEES but that is a different video.
Thanks Mark. We are not experts in Non US investing options. Hell, I'm not an expert in anything financial, just telling stories about what worked for me.
@@Clarks-Adventure Not an expert either but sucked up a lot over the decades. A lot of things that seem obvious are either illegal or somebody taxes the juice out of it.
Thank you so much for putting up this video. This is exactly what I needed to share with my two college-age son's. When I tell them it is one thing, but a third party is a great confirmation!
Awesome that you guys are diving into this topic. It's rarely discussed in such a plain-language matter and will really help so many people out there! Keep up the great work!
Great tip on opening a Schwab brockerage account. I too have used the debit card in many places around the world and it works like a charm just mentioned by Clark. Looking forward to future videos about investments etc.
My wife and I are diligently saving towards this life. I love the investment advice and the life y'all live out there in the wild blue yonder. I signed up for a Schwab account this morning with your referral promo. I wasn't aware there were Schwab ETF's that I could get in on for next to nothing. I thought they were all $4.95/transaction. Congrats on the success and we hope to see y'all out there in a few years.
If you ever see Temptress anchored in a nice harbor dinghy over and say hi. Also if you think your friends might also benefit from our videos how about sharing our playlists on social media? We would appreciate the promotion.
So first I just wanted to say a huge THANK YOU! for clearing up the mysterious world of investing for normal folks. (I've already watched all 3 videos in this series). Secondly, I instantly became a subscriber. Absolutely love seeing you two. I opened up an account with Schwab and the next day had a call from a random person in corporate and the vice president of the local branch to introduce themselves. All before I had deposited a penny. Your referral code is powerful stuff! haha! Thank you so much again.
Glad to hear the videos helped. If you think they might help others would you consider sharing them on social media? We would appreciate the new viewers.
Good Afternoon Clark, I have been a big fan of your videos for about a year now. In addition, I opened an account using the code you provided through this video and I just received my $100. I absolutely love Schwab since I started with them. Their system is super easy to navigate through. So thank you for providing awesome information. My wife and I really wish we could retire early just like you guys did.
I don't use a percentage model. I do things differently. My way kind of ebbs and flows with the market. I'll get into all this in time, as long as there is interest. Please like and especially share the videos. We have a big list of videos planned.
Thank you Emily and Clark for taking time out of your life to help others. BTW - we have joined your "Enough is Enough" community and can't wait for activity. (whatever that might mean)
Regarding the community, right now we are taking names and emails. Once we reach about 100 interested folks, we'd like to connect these people with others in their area, and then maybe lead an introductory conference call with small groups. We imagine that we could have a basic discussion outline each month that includes topics covered in our videos, and other topics, worksheets, and things to think about. It will take us a bit to organize this, but it's really exciting stuff. We look forward to sending out an update to all of you, and releasing a video about the community soon. Thanks so much for following along!
Good to know! Might just open one up. I use Fidelity now but diversivfying might be good. I have 305 days till I retire at 62 and need options. Wish I had planned to do it sooner, but in the US they say it cost 450K to raise a child to maturity and I did 2! So no FIRE for me. But then most of my peers are either dead or still working till they die so its relative. I like your videos.
Schwab took me to the cleaners 2 times! My account went from 18,000 to 5,000 when they took control of it... after that I made 1 trade and they agean took control froze it and when I got it back is was 2,400... that was the end of my planing... I called the SEC and was told there is nothing I can do as the agreement states you must use a arbitrator of there choose! As always, READ THE FINE PRINT!
if they took your account it means you were trading on margin, that's your fault not theirs... investment accounts don't get frozen or confiscated just because your account goes down in value.
@@Generalist11 yes it was a margin acc. I was doing well with it until they took it.. the 2nd time I could not understand why I had 5,000 and bough a stock for 2,700 , they said I can't buy that stock on margin, I used cash. Anyway my big mistake was in fighting for my account, I should have left for another broker. Trading was a really amazing way to make money work for you, instead of working for money. People who saw that I was not working a normal job, said I was lazy, I made more trading then I could make working.
Great videos... Do you recommend just working enough to max out the IRA with earned income. How can you do this while retiring early ? (before 59 1/2) Also do you recommend paying off all debt first and not buying a boat or tiny home until you can buy it/fix it in cash? Thanks for taking the time to share your life /advice with us. All the best!
Hey guys, I started opening an account on Schwab via your tutorial video. Very helpful and you guys explain it very basically so anyone could understand. The 100 dollar via the referral code motivated me to open an account. But I got this message from the website and stranded... "Your application to open an account needs further review. Due to industry regulations, Schwab will need to review the details of your specific situation before proceeding with your account application." First I had to check the box from which country I was, the Netherlands... and then got this message directly. So disappointing that I can't invest now :(
Lots of regulation out there. If it doesn't work out for you I'm sure there is a local discount broker you could use. Get the investment going somehow.
Too bad Canada still counts as international....we're really not all that far up here. $25K for $100 doesn't make sense. Thanks for the offer, though, and please keep us in mind next time :)
Much appreciated, Clark and Emily. Truly, can't wait to see what other valuable info you have in store. Would you mind talking about if/why you believe a brokerage account is ideal for early retirement? I've invested in a roth ira for a few years now and feel confident about my future financial situation but want to seriously improve my short term one(i.e. 10 to 15 years down the line). Thanks in advance for your response!
Yeah, it's coming in detail in a video later but you got the gist of it here. You can only put a limited amount away in an IRA and you can't control when you can spend it. If you want to reap the benefits of your investments earlier you need a general brokerage account. In my opinion it's very important to have one. Your milage may very. Do what's right for you.
Thanks Stewart. I see yours is taking off as well. Anyone interested in a similar channel Stewart and his wife Zaya sail an interesting wooden catamaran.
You will really like it. I do. If you think your friends might also enjoy our videos, how about sharing our playlist on social media? We would really appreciate the new viewers.
Yes, and you have to file something with the US IRS. Could mean double taxes. Though I know Europeans who use Schwab and simply don't report to their local country. They hide assets in the US. Lower net taxes and different (better?) investment options.
@@Clarks-Adventure We dont have REIT in Switzerland,and fees ar higher.Over all costs are much more,starting with min deposit amount. Schwab is the leader in low fee. Definitely bigger choice of instruments.
Hi Clark. Not sure if you're still tracking comments on this video. We really loved it. We are from Canada. Tried to open a Scwab account and they won't open accounts for Canadians. Given our government's recent move to dictatorship we really need to start putting money outside of Canada. Any suggestions?
I think there might be a way. Ask someone else at Schwab. I know a guy who is a big influencer for EU economic decisions. (Ex father in law) He is Belgian. He has a US Schwab account. I know you have to file some US tax documents but I think you can do it. Sometimes it's worth paying for another basket to not have all your eggs in one place.
Thanks for the video! Quick questions though, if married should we each have an individual account? Or should we have a joint account? Also, will you be covering wills and perhaps forming a trust for beneficiaries upon death for the assets? We've been reading a bit into it but would like to see your view/opinion on it. Thanks again!
Glad you're asking these important questions. If you can visit a Schwab branch near you, you can sit down for free with someone who can tell you the difference between a joint and individual account and pros and cons of each. We are currently working on our wills. Those vary state by state but depending how complex your situation is, you can find some free or very inexpensive templates online to at least get you started (here's a good overview: info.legalzoom.com/write-own-will-4007.html ). As for trusts, we have yet to learn about that, but it's on our list. Hope you'll subscribe and stay tuned.
I appreciate the video and learning how to set up an account was helpful. But what I don’t understand is how or why a brokerage account is better than a regular savings account? I really wish you would’ve explained in more detail why a brokerage account is necessary. All I understood was that if I want to retire or be rich I need a brokerage account. Hopefully that will come up in the next video. Thank you.
Thanks Mickey For Sharing, Making It SO Easy To Follow Directions! ... BTW ... What's The Hints About A Tree House In Another Of Your Videos? ... "Peace and Happiness"
After sailing ( when I get too old to handle the boat). We build a treehouse someplace cool, like Panama or Hawaii. Do you think your friends might benefit from these videos? How about sharing the playlist on social media? We would appreciate the views!
Yes I Share All Your TH-cam Videos With Friends! And Hope Others That Watch Your Videos Do The Same! It's Truly A Joy Watching and Learning From Your Videos! " Peace and Happiness"
Clark, FYI, I just went to open an account and use your referral code however the link says that the offer has expired. do you happen to know if it only good for X days or so? This is the message I received after clicking on Brokerage account and choosing joint account. "The promotion associated with this link has expired. You may still continue to open an account. If you have a valid offer code you may enter it below."
@@Clarks-Adventure If you get a new code, pop it in here and I can use that as opposed to proceeding with the registration. I assume you get a referral benefit of some sort and would like for you to get that. I will hold off on the registration for your response.
Don't wait on it for us. As we say in the video we don't get anything from Schwab with this. We just put it out to benefit you guys. Sorry to hear that schwab might have cancelled the offer. They shouldn't have, they said it was good. In fact they were excited to get the business.
@@Clarks-Adventure Y'all are "stand up" folks. Thank you for that and I will proceed. Thank you again, the information has been wonderful and I look forward to the next set of videos.
Hi Emily and Clark. Thanks for the informative video ! I opened a Schwab account so we will see next week about the $100. sign-up bonus. I have also filled out the community questionnaire twice but have not received any reply . I am in Texas in the Dallas Ft. Worth area. Thanks again and please let me know about existing groups here or if i need to start one.
We will be sending out contact information when we get enough people to make it worthwhile. We are about 75% there already. Expecting sometime next month. No need to fill it out more than once. Glad you took advantage of Schwab's offer. That's the beginning. We will film the video on choosing what to invest in and how to make the investment tomorrow. Takes a couple of days to do all the editing work. Especially with our crappy camera.
Emily & Clark's Adventure Cool. thanks! I'm 60 and having to start over after being disabled and divorced so I'm starting over from scratch. the swap accounts probably not going to do me a whole lot of good but it's a way to kind of get me started. I want to try to do it with real estate. I've connected with a local group who seem to be really helpful so we'll see where that goes.
Emily & Clark's Adventure I would love to be traveling around the Bahamas and Caribbean area in two to three years. I'm healthy enough now I think I've got several good years of sailing left in me but not a whole lot of time to make some money to be able to do it. I could probably squeak by on my Social Security if I had enough money to buy a good Dependable boat and have it paid for
Totally unrelated, but the painting in the background looks like something Maxwell Armfield did XD (Just reminded me of Fleetwood Mac's "Then Play On" cover with his mural.)
It's a blow-up of the same Temptress logo we have on tshirts. We have a tspring account if you'd like to see the are. A friend did it for us. She does logos and I know due to covid she is available for work.
Thanks for the video guys but it seems opening an account from South Africa is not gonna work...Bummer! "Due to industry regulations, Schwab will need to review the details of your specific situation before proceeding with your account application." Guess I will have to look at other options, keep the videos coming ..k!
Sorry to hear that. I'm sure there is a local brokerage available for you. The important thing is not Schwab, it's to get your savings into an account and get them working for you. Please share here if you find a better option for our viewers in your area. -C
No. It expired. The program is still working. I'd ask in forums if you don't know someone with an account. But just call and say you want the $100. I bet they just give it to you. They want your account.
Hi Mr. Clark, I just found your site on TH-cam and I really like the information you are giving. That being said, I don't live in the States but in Canada. 1. Is it a good idea for me to open a Schwab account? It doesn't mention Canada in the list of countries. 2. I teach English online and get paid in USD. I have a US currency account because it is how they deposit my pay. I could buy stocks in USD that way. 3. I cannot deposit 1000$ USD. Can I deposit a smaller amount to open an account? If you have other suggestions let me know. By the way, I'm more close the retirement age. We have five children and almost all gone from home but this is information I will certainly pass along to them. I look forward to your reply. Have a wonderful day to you and your lovely wife. Danielle.
Hi Danielle. I'm so happy that you enjoyed my videos. I'm afraid I just don't know what is best in your situation. A Schwab account gives you the ability to trade in the US market in US dollars but it is likely to effect your tax situation badly. I expect there is a Canadian discount broker out there that is just as good but again I just don't know about Canadian tax law.
You would probably be best served with a local brokerage account. I'm only giving instructions for Schwab because it's what I know. After this I'm planning one more Schwab specific video. Then back to theory and philosophy.
Hi - appreciate the videos so much. What do you do about a permanent address if you live a sea-gypsy? Sorry if you addressed this elsewhere... Regards Penelope
We have a house in Florida and family. But at one time I only had the boat as a home. I found a shipping company with mailboxes. I would list my address such that my box number looked like an apartment number and that address worked for everything. It was my corporate address back when I worked. Not exactly legal.
Lots of reasons. Most complicated. Simpleist for us is I had money, Emily was still working and actively putting money into savings. I wanted her to see that her investment efforts were paying off. Give her a chance to make her own investments and see the results of her own risks. If we shared an account her money would be overshadowed by mine. You will eventually have multiple accounts. You will each need a tax deferred account in your own name. You will need a general account that could be shared or not. It's up to you. No wrong answer.
Yes I can't keep up. Ask around I bet you know someone with a schwab account. Or just call an office. They want you to do this, be nice and they should just give you a code.
I'd just ask Schwab on the phone if they still have the promotion. I bet they would just give you the $100 to sign up. After all they want your business. It was a friends/family program that they agreed to extend to anyone who watched our video but they did warn it might not last forever. Tell us what you find out.
Please try again in a while. We have had others complain the code didn't work then it did again. Or if course check with Schwab in the phone. This was all OKed with them but things might have changed. I'm sure if you just ask for the $100 deal they will give it to you. They want your business.
I wonder whether any money changed hands between the bank mentioned, and the video creator. Not saying that would be morally wrong, but it doesn't feel quite right either.
As we said in the video we didn't get a cent from Schwab. There are a bunch of federal laws to deal with if we tried. Not worth it. We just want to help people. Look at our other videos, you'll see. If someone likes our work and wants to buy us a beer on Patreon that would be nice.
It's in the description. It's been awhile might not work anymore. I'd just call and ask for the $100 if it doesn't work. I bet they would just give it to you, they want you to open an account.
Yes I am subscribed and do enjoy your videos. I listen to them on my way to and from work sometimes. I have a question about putting a switch on a LED light. Should the switch be on the positive or negative side? Maybe it doesn’t make any difference.
Yes. I know. My ex-wife was Swedish and Belgian. I've spend time in Sweden talking with extended family and getting an idea of how that version if socialism works. Taxing high and funding those who don't perform really does kill work ethic.
Thanks for pointing this out. I've updated the description to explain this. I imagine it would be better for most non-US investors to use a local brokerage. But if you have the assets and prefer to invest in US dollars it can still be the right choice for some. Also make sure you understand the tax issues.
I use DeGiro in Portugal. Don't know if you have it in Spain. It's a low-cost brokerage account based in The Netherlands. I think it's probably the same as Schwab. Suerte!
![Pay Yourself First: (2 of 3) Choose an Investment Fund (ETF, Mutual Fund) [Enough is Enough]](http://i.ytimg.com/vi/PucuiFQ93Zw/mqdefault.jpg)
![Pay Yourself First: (2 of 3) Choose an Investment Fund (ETF, Mutual Fund) [Enough is Enough]](/img/tr.png)
![Pay Yourself First: (3 of 3) :How to Buy an Investment Fund (ETF, Mutual Fund) [Enough is Enough]](/img/n.gif)
I'm sure this code won't work forever. Let's keep it going. When you open a Schwab account how about sharing your own codes? After all we are all friends if not family.
Comment under this comment, I'll pin it to the top.
Aloha! Any new referral codes available to use? Emily & Clark's code has had the maximum number of referrals.
It has been quite a while. Shout out on Facebook to your friends. Any Schwab customer can give you a code!
@@Clarks-Adventure Great suggestion. Thank you!
Maui, if you find a new code how about posting it here?
www.schwab.com/public/schwab/nn/refer-prospect.html?refrid={REFID} Refer code here for anyone wanting to open a Charles Schwab account
Pay yourself first is the absolute best advice anyone can give when it comes to retiring. Max out that 401k, IRA, and/or 501b if you have one available to you, put as much as you can each month in a traditional brokerage account each pay check, and sit back and watch that money grow. If you are not comfortable making your own investment decisions many brokers offer managed accounts where you select your risk comfort level and they take it from there for a fee that is typically around 1% of your assets under management. The second best piece of advice anyone can give is to limit your spending on things that don't appreciate in value and avoid debt on depreciating assets like cars. Debt for a house is fine and generally necessary for your first house but on a car, TV, clothing, etc it is one of the biggest wastes of money out there. Buy a good used car with cash, buy the smaller TV, go to the outlet for clothes and never ever buy anything that isn't on sale. Learn how to cook, you will be amazed at how much you can save by limiting take out and meals out. Spend some money on the hobbies or trips that make you happy, this is a very important bit and something many will say you need to forego to retire early but there is no sense living so miserly that you are miserable!
Thanks for your comments. All good points. I talk about a lot of these in my first video: th-cam.com/video/9XK5ocXPhTg/w-d-xo.html
You two are just wonderful. Keep up the encouragement to go back to basics. I left the mundane, professional rat race to live a rural life. It's paradise, every day. Blessings to all.
It was good to show how easy this is. For all the non US people, one word: TAXES. Owning and maintaining an investment account in a foreign country ALWAYS has tax implications. The US laws apply and laws in your own country, and reciprocal agreements between those countries. That said, you must have a bank account somewhere, nip down and talk to the branch manager, make an appointment. Bring $100. Have a chat about investing. If they won't do this bring your $100 to a different bank to see if they want your business. You should come away with some notes on what types of accounts are available to you and the pros and cons of each. You should come away with your $100 because either you want to do more research or the financial institution you choose opened your account and gave you a small credit like they did for Emily. I happen to live in Canada and over many years have accumulated several accounts, all but one tax free! After taxes come FEES but that is a different video.
Thanks Mark. We are not experts in Non US investing options. Hell, I'm not an expert in anything financial, just telling stories about what worked for me.
@@Clarks-Adventure Not an expert either but sucked up a lot over the decades. A lot of things that seem obvious are either illegal or somebody taxes the juice out of it.
Thank you so much for putting up this video. This is exactly what I needed to share with my two college-age son's. When I tell them it is one thing, but a third party is a great confirmation!
Thanks, what better compliment can one get then someone sharing our advice with their kids.
Awesome that you guys are diving into this topic. It's rarely discussed in such a plain-language matter and will really help so many people out there! Keep up the great work!
Thank you
Great tip on opening a Schwab brockerage account. I too have used the debit card in many places around the world and it works like a charm just mentioned by Clark. Looking forward to future videos about investments etc.
My wife and I are diligently saving towards this life. I love the investment advice and the life y'all live out there in the wild blue yonder. I signed up for a Schwab account this morning with your referral promo. I wasn't aware there were Schwab ETF's that I could get in on for next to nothing. I thought they were all $4.95/transaction. Congrats on the success and we hope to see y'all out there in a few years.
If you ever see Temptress anchored in a nice harbor dinghy over and say hi.
Also if you think your friends might also benefit from our videos how about sharing our playlists on social media? We would appreciate the promotion.
Schwab is the best! We are loving your tips and videos :)
This is priceless! Thank you so much Emily and Clark!!
No problem Demetrius
Clark, I am one of your newest subs...I like your simplicity and openness (not sure if it is a word)...You are doing a great service! Best regards.
Thanks Saurav. Welcome aboard.
So first I just wanted to say a huge THANK YOU! for clearing up the mysterious world of investing for normal folks. (I've already watched all 3 videos in this series). Secondly, I instantly became a subscriber. Absolutely love seeing you two. I opened up an account with Schwab and the next day had a call from a random person in corporate and the vice president of the local branch to introduce themselves. All before I had deposited a penny. Your referral code is powerful stuff! haha! Thank you so much again.
Glad to hear the videos helped.
If you think they might help others would you consider sharing them on social media? We would appreciate the new viewers.
@@Clarks-Adventure Absolutely! Already planned on showing this to my girls and will share it publicly.
The biggest compliment I get here is a parent saying they are showing our stuff to their kid.
Good Afternoon Clark,
I have been a big fan of your videos for about a year now. In addition, I opened an account using the code you provided through this video and I just received my $100. I absolutely love Schwab since I started with them. Their system is super easy to navigate through. So thank you for providing awesome information. My wife and I really wish we could retire early just like you guys did.
10% in 10 minutes! I love it, excited for the next video : ) Would you be willing to speak about percentages to pay yourself?
I don't use a percentage model. I do things differently. My way kind of ebbs and flows with the market. I'll get into all this in time, as long as there is interest. Please like and especially share the videos. We have a big list of videos planned.
Thank you Emily and Clark for taking time out of your life to help others. BTW - we have joined your "Enough is Enough" community and can't wait for activity. (whatever that might mean)
You're very welcome.
Regarding the community, right now we are taking names and emails. Once we reach about 100 interested folks, we'd like to connect these people with others in their area, and then maybe lead an introductory conference call with small groups. We imagine that we could have a basic discussion outline each month that includes topics covered in our videos, and other topics, worksheets, and things to think about. It will take us a bit to organize this, but it's really exciting stuff. We look forward to sending out an update to all of you, and releasing a video about the community soon. Thanks so much for following along!
Bonus points to Emily for getting Mickey Mouse's birthday correct. :)
Good to know! Might just open one up. I use Fidelity now but diversivfying might be good. I have 305 days till I retire at 62 and need options. Wish I had planned to do it sooner, but in the US they say it cost 450K to raise a child to maturity and I did 2! So no FIRE for me. But then most of my peers are either dead or still working till they die so its relative. I like your videos.
Schwab took me to the cleaners 2 times! My account went from 18,000 to 5,000 when they took control of it... after that I made 1 trade and they agean took control froze it and when I got it back is was 2,400... that was the end of my planing... I called the SEC and was told there is nothing I can do as the agreement states you must use a arbitrator of there choose!
As always, READ THE FINE PRINT!
if they took your account it means you were trading on margin, that's your fault not theirs... investment accounts don't get frozen or confiscated just because your account goes down in value.
@@Generalist11 yes it was a margin acc. I was doing well with it until they took it.. the 2nd time I could not understand why I had 5,000 and bough a stock for 2,700 , they said I can't buy that stock on margin, I used cash. Anyway my big mistake was in fighting for my account, I should have left for another broker.
Trading was a really amazing way to make money work for you, instead of working for money. People who saw that I was not working a normal job, said I was lazy, I made more trading then I could make working.
Bless your hearts !! Thank you for sharing your knowledge, wishing you guys the best always💜
Thanks Angelina.
Great videos... Do you recommend just working enough to max out the IRA with earned income. How can you do this while retiring early ? (before 59 1/2)
Also do you recommend paying off all debt first and not buying a boat or tiny home until you can buy it/fix it in cash?
Thanks for taking the time to share your life /advice with us. All the best!
I captured your comment in my "videos to make" folder.
Just going through your older videos now....enough is enough
Hey guys, I started opening an account on Schwab via your tutorial video. Very helpful and you guys explain it very basically so anyone could understand. The 100 dollar via the referral code motivated me to open an account. But I got this message from the website and stranded... "Your application to open an account needs further review.
Due to industry regulations, Schwab will need to review the details of your specific situation before proceeding with your account application."
First I had to check the box from which country I was, the Netherlands... and then got this message directly. So disappointing that I can't invest now :(
Lots of regulation out there. If it doesn't work out for you I'm sure there is a local discount broker you could use. Get the investment going somehow.
@@Clarks-Adventure True! I'm wondering if there is a similar european broker like Schwab. Gonna check that out, thanks guys!
Post what you find here, please. Lots of Europeans here that are in your boat.
Another awesome, helpful video. After watching this video, I subscribed right away to your channel. Thanks-a-lot!
Been subbed for awhile ! You guys are great and inspiring. Can't wait for your next post. We will definitely open this account. Thanks!! -Moniec
Thanks Moniec. We appreciate your watching.
Too bad Canada still counts as international....we're really not all that far up here. $25K for $100 doesn't make sense. Thanks for the offer, though, and please keep us in mind next time :)
Nice initiative. I look forward to the series :-) Greetings from Belgium
Hey Clark! I finally convinced my fiancee to open up a Roth IRA account!
Much appreciated, Clark and Emily. Truly, can't wait to see what other valuable info you have in store.
Would you mind talking about if/why you believe a brokerage account is ideal for early retirement? I've invested in a roth ira for a few years now and feel confident about my future financial situation but want to seriously improve my short term one(i.e. 10 to 15 years down the line). Thanks in advance for your response!
Yeah, it's coming in detail in a video later but you got the gist of it here. You can only put a limited amount away in an IRA and you can't control when you can spend it.
If you want to reap the benefits of your investments earlier you need a general brokerage account. In my opinion it's very important to have one. Your milage may very. Do what's right for you.
Great advice as always guys. Enjoying the direction your channel is taking
Thanks Stewart. I see yours is taking off as well.
Anyone interested in a similar channel Stewart and his wife Zaya sail an interesting wooden catamaran.
Very interesting/informative-looking forward to the next video. Thanks
You're welcome. Thanks for watching.
I like the way you explain I'm planning to close my chase account soon and open this account soon
You will really like it. I do.
If you think your friends might also enjoy our videos, how about sharing our playlist on social media? We would really appreciate the new viewers.
Thank you so much. We will live our best life
You're welcome Estabon. Glad you enjoyed it. Would you consider sharing our financial playlist on social media. We would appreciate the new viewers.
For non US residents the minimum deposit is 25'000$,I could not find another account for individuals that has a lower minimum.
just informative.
Yes, and you have to file something with the US IRS. Could mean double taxes.
Though I know Europeans who use Schwab and simply don't report to their local country. They hide assets in the US. Lower net taxes and different (better?) investment options.
@@Clarks-Adventure We dont have REIT in Switzerland,and fees ar higher.Over all costs are much more,starting with min deposit amount. Schwab is the leader in low fee.
Definitely bigger choice of instruments.
Thank you guys from New Zealand.
You're welcome Ali. Glad you liked it. Hope to maybe sail your way eventually.
Hi Clark. Not sure if you're still tracking comments on this video. We really loved it. We are from Canada. Tried to open a Scwab account and they won't open accounts for Canadians. Given our government's recent move to dictatorship we really need to start putting money outside of Canada. Any suggestions?
I think there might be a way. Ask someone else at Schwab.
I know a guy who is a big influencer for EU economic decisions. (Ex father in law) He is Belgian. He has a US Schwab account.
I know you have to file some US tax documents but I think you can do it.
Sometimes it's worth paying for another basket to not have all your eggs in one place.
Thanks for the video! Quick questions though, if married should we each have an individual account? Or should we have a joint account?
Also, will you be covering wills and perhaps forming a trust for beneficiaries upon death for the assets?
We've been reading a bit into it but would like to see your view/opinion on it.
Thanks again!
Glad you're asking these important questions. If you can visit a Schwab branch near you, you can sit down for free with someone who can tell you the difference between a joint and individual account and pros and cons of each. We are currently working on our wills. Those vary state by state but depending how complex your situation is, you can find some free or very inexpensive templates online to at least get you started (here's a good overview: info.legalzoom.com/write-own-will-4007.html ). As for trusts, we have yet to learn about that, but it's on our list. Hope you'll subscribe and stay tuned.
I appreciate the video and learning how to set up an account was helpful. But what I don’t understand is how or why a brokerage account is better than a regular savings account? I really wish you would’ve explained in more detail why a brokerage account is necessary. All I understood was that if I want to retire or be rich I need a brokerage account. Hopefully that will come up in the next video. Thank you.
Yep, in the next video we show how to use the brokerage account you just opened.
Thank you guys so much that video was amazing ...
Thanks, if you think others might enjoy it please share the playlists on social media. We would appreciate the exposure.
Thank you so much for sharing!
Thanks Mickey For Sharing, Making It SO Easy To Follow Directions!
... BTW ... What's The Hints About A Tree House In Another Of Your Videos?
... "Peace and Happiness"
After sailing ( when I get too old to handle the boat). We build a treehouse someplace cool, like Panama or Hawaii.
Do you think your friends might benefit from these videos? How about sharing the playlist on social media? We would appreciate the views!
Yes I Share All Your TH-cam Videos With Friends! And Hope Others That Watch Your Videos Do The Same! It's Truly A Joy Watching and Learning From Your Videos!
" Peace and Happiness"
Clark, FYI, I just went to open an account and use your referral code however the link says that the offer has expired. do you happen to know if it only good for X days or so? This is the message I received after clicking on Brokerage account and choosing joint account. "The promotion associated with this link has expired. You may still continue to open an account. If you have a valid offer code you may enter it below."
I'll check with Schwab. They said it would be good to use.
Thanks for telling us
@@Clarks-Adventure If you get a new code, pop it in here and I can use that as opposed to proceeding with the registration. I assume you get a referral benefit of some sort and would like for you to get that. I will hold off on the registration for your response.
Don't wait on it for us. As we say in the video we don't get anything from Schwab with this. We just put it out to benefit you guys. Sorry to hear that schwab might have cancelled the offer. They shouldn't have, they said it was good. In fact they were excited to get the business.
@@Clarks-Adventure Y'all are "stand up" folks. Thank you for that and I will proceed. Thank you again, the information has been wonderful and I look forward to the next set of videos.
@@Svdreamchaser Try Emily's referral code: REFERZCX64EQ2
Thanks for sharing!
Great video and very helpful! Thanks so much!
You're welcome, Susanne
Hi Emily and Clark. Thanks for the informative video ! I opened a Schwab account so we will see next week about the $100. sign-up bonus. I have also filled out the community questionnaire twice but have not received any reply . I am in Texas in the Dallas Ft. Worth area. Thanks again and please let me know about existing groups here or if i need to start one.
We will be sending out contact information when we get enough people to make it worthwhile. We are about 75% there already. Expecting sometime next month. No need to fill it out more than once.
Glad you took advantage of Schwab's offer. That's the beginning. We will film the video on choosing what to invest in and how to make the investment tomorrow. Takes a couple of days to do all the editing work. Especially with our crappy camera.
Emily & Clark's Adventure Cool. thanks! I'm 60 and having to start over after being disabled and divorced so I'm starting over from scratch. the swap accounts probably not going to do me a whole lot of good but it's a way to kind of get me started. I want to try to do it with real estate. I've connected with a local group who seem to be really helpful so we'll see where that goes.
Emily & Clark's Adventure I would love to be traveling around the Bahamas and Caribbean area in two to three years. I'm healthy enough now I think I've got several good years of sailing left in me but not a whole lot of time to make some money to be able to do it. I could probably squeak by on my Social Security if I had enough money to buy a good Dependable boat and have it paid for
Totally unrelated, but the painting in the background looks like something Maxwell Armfield did XD (Just reminded me of Fleetwood Mac's "Then Play On" cover with his mural.)
It's a blow-up of the same Temptress logo we have on tshirts. We have a tspring account if you'd like to see the are.
A friend did it for us. She does logos and I know due to covid she is available for work.
@@Clarks-Adventure That is so cool! I may be interested. Is the T-spring in your video description?
Yes. On most of the newer ones at least. We didn't have swag back when this video was put up
Thanks for the video guys but it seems opening an account from South Africa is not gonna work...Bummer! "Due to industry regulations, Schwab will need to review the details of your specific situation before proceeding with your account application." Guess I will have to look at other options, keep the videos coming ..k!
Sorry to hear that. I'm sure there is a local brokerage available for you. The important thing is not Schwab, it's to get your savings into an account and get them working for you. Please share here if you find a better option for our viewers in your area. -C
Did you straighten things out with Schwab to get that referral code and $100 bonus working again?
No. It expired. The program is still working. I'd ask in forums if you don't know someone with an account.
But just call and say you want the $100. I bet they just give it to you. They want your account.
Hi Mr. Clark,
I just found your site on TH-cam and I really like the information you are giving. That being said, I don't live in the States but in Canada.
1. Is it a good idea for me to open a Schwab account? It doesn't mention Canada in the list of countries.
2. I teach English online and get paid in USD. I have a US currency account because it is how they deposit my pay. I could buy stocks in USD that way.
3. I cannot deposit 1000$ USD. Can I deposit a smaller amount to open an account?
If you have other suggestions let me know. By the way, I'm more close the retirement age. We have five children and almost all gone from home but this is information I will certainly pass along to them.
I look forward to your reply.
Have a wonderful day to you and your lovely wife.
Danielle.
Hi Danielle. I'm so happy that you enjoyed my videos.
I'm afraid I just don't know what is best in your situation. A Schwab account gives you the ability to trade in the US market in US dollars but it is likely to effect your tax situation badly. I expect there is a Canadian discount broker out there that is just as good but again I just don't know about Canadian tax law.
Excellent how to video! Too bad Mickey Mouse is going to be arrested for fraud now :-)
Hi Clark, great shows.
Thanks
very well done,,, thanks !!!
I have a TD Ameritrade account. Am I covered for the upcoming material?
Sure. I'm going to do one more detailed offering on how to make a purchase with Schwab. Then back to theory and philosophy.
For East European countries it will work to open an account?
You would probably be best served with a local brokerage account. I'm only giving instructions for Schwab because it's what I know.
After this I'm planning one more Schwab specific video. Then back to theory and philosophy.
Hi - appreciate the videos so much. What do you do about a permanent address if you live a sea-gypsy? Sorry if you addressed this elsewhere...
Regards
Penelope
We have a house in Florida and family. But at one time I only had the boat as a home. I found a shipping company with mailboxes. I would list my address such that my box number looked like an apartment number and that address worked for everything. It was my corporate address back when I worked. Not exactly legal.
Thank you :-)
I'm curious Emily chose an individual account, is there any reason that a married couple wouldn't choose a joint account?
Lots of reasons. Most complicated.
Simpleist for us is I had money, Emily was still working and actively putting money into savings. I wanted her to see that her investment efforts were paying off. Give her a chance to make her own investments and see the results of her own risks. If we shared an account her money would be overshadowed by mine.
You will eventually have multiple accounts. You will each need a tax deferred account in your own name. You will need a general account that could be shared or not. It's up to you. No wrong answer.
Your referral code still doesn't work for Charles Schwab
Yes I can't keep up. Ask around I bet you know someone with a schwab account. Or just call an office. They want you to do this, be nice and they should just give you a code.
A minimum of US $25,000 is required to open an international brokerage account.
Non-U.S. Residence Address. This is insane !
That is true. We didn't know it at the time of filming.
You also have a US tax situation as well as any local taxes you choose to report.
Are you able to provide an updated Referral code?
I'd just ask Schwab on the phone if they still have the promotion. I bet they would just give you the $100 to sign up. After all they want your business. It was a friends/family program that they agreed to extend to anyone who watched our video but they did warn it might not last forever.
Tell us what you find out.
Any update on a working referral code we can all use? Thanks for the help
I'd have Schwab a call and just tell them you'd start an account if they gave you one. I'm sure they would.
I did an online chat on the Schwab website and was told they no longer give out generic codes......
do you have a new referral code
Please try again in a while. We have had others complain the code didn't work then it did again.
Or if course check with Schwab in the phone. This was all OKed with them but things might have changed. I'm sure if you just ask for the $100 deal they will give it to you. They want your business.
And please tell us how it works out
I also would like to give you guys the credit for putting me on fair is fair🧐
As we say in the video we get nothing from Schwab. If you want help us out there is always Patreon. 😀
Mickey Mouse - "Gotta Love It"
This should be interesting
I wonder whether any money changed hands between the bank mentioned, and the video creator. Not saying that would be morally wrong, but it doesn't feel quite right either.
We didn't get a cent from Schwab just as I say in the video. There are actually some federal laws involved if we went down that path. Not worth it.
As we said in the video we didn't get a cent from Schwab. There are a bunch of federal laws to deal with if we tried. Not worth it.
We just want to help people. Look at our other videos, you'll see.
If someone likes our work and wants to buy us a beer on Patreon that would be nice.
Alright, good to know!
Does the referral code give any type of beneficial incentive when others apply using it?
What do you use as a permanent address?
Family
is there a new referral code
No I don't but I bet if you just called Schwab and asked for the reward they would give it to you. They are that kind of company.
@@Clarks-Adventure will do
HI THERE, I AM LIVING IN THE PHILIPPINES, CAN I STILL OPEN MY BROKERAGE ACCOUNT ON SCWAB? THANK YOU SO MUCH
You should just ask Schwab. They are very helpful.
thx u guys are great you explain everything step by step .thx for making me $100 richer
You're very welcome. Now start paying yourself.
Couldn’t see the code?
It's in the description. It's been awhile might not work anymore. I'd just call and ask for the $100 if it doesn't work. I bet they would just give it to you, they want you to open an account.
Thank you & love your work. 👍🏽🙏
Is this referral still available?
Any Schwab account holder can get you a current one. You have to be a US resident.
Ask around.
I just checked. They made it easier to find again.
Try this one. REFERRRB93QAA
Thank you, I like your channel
Thanks. Hope you subscribed and are enjoying our other videos
Yes I am subscribed and do enjoy your videos. I listen to them on my way to and from work sometimes. I have a question about putting a switch on a LED light. Should the switch be on the positive or negative side? Maybe it doesn’t make any difference.
If I do this in Denmark, it will all be going to the taxes :-)
Sorry, that seems to be the way there.
@@Clarks-Adventure in case you thing that IRS in the US is hard on you, you should try the Scandinavian countries :-)
Yes. I know. My ex-wife was Swedish and Belgian. I've spend time in Sweden talking with extended family and getting an idea of how that version if socialism works.
Taxing high and funding those who don't perform really does kill work ethic.
I a from Spain and I need to open an account with 25000 dollars, not 1000.... :(
Thanks for pointing this out. I've updated the description to explain this. I imagine it would be better for most non-US investors to use a local brokerage. But if you have the assets and prefer to invest in US dollars it can still be the right choice for some.
Also make sure you understand the tax issues.
I use DeGiro in Portugal. Don't know if you have it in Spain. It's a low-cost brokerage account based in The Netherlands. I think it's probably the same as Schwab. Suerte!
Senseless plug for Charles Schwab, save your time, they are the worst broke to fund 🤬
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