Financial Decoder

Charles Schwab & Co. founder and Chairman of the Board Chuck Schwab discusses the decisions that led him to create a revolutionary business model for the brokerage industry. Chuck talks about his decision to start a business, his difficulties raising capital, and even how he convinced his wife to mortgage the house to support his upstart company. He and Mark also discuss the 1983 sale of the company to Bank of America, how he bought the company back—and how Chuck framed both decisions to his employees and the board of directors.The goal of Financial Decoder is to help listeners make better financial decisions. And while the decisions Chuck describes are in the context of his life, many of us will make decisions that may be smaller in scale but are of the same basic type: when to sell, when to change direction when things aren’t going well, when to ask for help, when to borrow money, and many others. And in the context of our own lives, these can be high-stakes decisions indeed.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvesting involves risk including loss of principal.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.This information provided here is for general informational purposes only, and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.​Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Android is a trademark of Google LLC. Use of this trademark is subject to Google Permissions.Spotify and the Spotify logo are registered trademarks of Spotify AB.(1023-31WF)

This podcast explores the reasons to seek a financial advisor, how to choose the right one, understanding compensation, evaluating advice and biases, and evaluating the client-advisor relationship.

Risk management is one of the most important parts of financial planning. But we seldom consider how those risks evolve as we get older. It's just one of many blind spots that can leave investors of all ages vulnerable. Many people might expect to protect their senior or vulnerable parents, but the risk-management process should begin much earlier when you make your own financial plan.In this episode, Mark speaks with Joel Sauer, director for senior and vulnerable investor investigations in Schwab's Financial Crimes Risk Management division. They discuss how aging affects financial decision-making. Joel goes into detail about some of the various scams that investors need to understand in order to avoid them. Next, Mark talks with Nancy Murphy. Nancy is a CERTIFIED FINANCIAL PLANNER™ professional and Accredited Estate Planner with extensive experience in a broad range of investment and financial-planning issues. She and Mark discuss building a plan to account for the pandemic and which legal documents are essential for helping to mitigate aging risks. Financial Decoder is an original podcast from Charles Schwab. Rebroadcast was edited for clarity.To learn more, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures:The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk including loss of principal.Past performance is no guarantee of future results.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. (0723-39D0)

If you or someone you care for has been diagnosed with a disability, you may be faced with many challenges. While this can be an overwhelming experience, there are various financial protections and other specialized tools available to aid you in your journey.First, we hear Bob's story. After his son experienced an accident resulting in a disability, Bob Dilaura transitioned into a passion-filled career as a financial planner. In this role, Bob helps families of individuals with special needs achieve their financial goals.Next, Mark speaks with Bob to discuss the various trusts, accounts, and other resources offered when a disability exists.Bob Dilaura is a senior financial planner at Schwab and is a Chartered Special Needs Consultant from the American College of Financial Services.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Schwab Wealth Advisory™ ("SWA") is a non-discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.(0723-3E2B)

To kickstart Season 14, Schwab experts look ahead to consider what investors might expect in the second half of 2023.First, Mark talks with Liz Ann Sonders, Schwab's chief investment strategist. Liz Ann offers her perspective on the direction of the U.S. economy and stock market.Next, Jeffrey Kleintop—Schwab's chief global investment strategist—discusses the possibility of a slowing global economy and what this could mean for the world's markets.Then, Mark speaks with Kathy Jones, Schwab’s chief fixed income strategist. Kathy looks at what bond investors might expect from the Federal Reserve and fixed income assets in the remainder of 2023.Finally, Mike Townsend, managing director in Schwab's Office of Legislative and Regulatory Affairs, offers his outlook for what's next for Washington now that the debt ceiling drama is resolved.Read the full 2023 Mid-Year Market Outlook from the Schwab Center for Financial Research.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.Environmental, social and governance (ESG) strategies implemented by mutual funds, exchange-traded funds (ETFs), and separately managed accounts are currently subject to inconsistent industry definitions and standards for the measurement and evaluation of ESG factors; therefore, such factors may differ significantly across strategies. As a result, it may be difficult to compare ESG investment products. Further, some issuers may present their investment products as employing an ESG strategy, but may overstate or inconsistently apply ESG factors. An investment product’s ESG strategy may significantly influence its performance. Because securities may be included or excluded based on ESG factors rather than other investment methodologies, the product’s performance may differ (either higher or lower) from the overall market or comparable products that do not have ESG strategies. Environmental (“E”) factors can include climate change, pollution, waste, and how an issuer protects and/or conserves natural resources. Social (“S”) factors can include how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. Carefully review an investment product’s prospectus or disclosure brochure to learn more about how it incorporates ESG factors into its investment strategy.(0623-3WKH)

Every portfolio is different—and so are the people who manage active and passive funds. In this episode, we dig into the details of how fund managers at two different firms approach their role. Their decision-making processes vary according to the goals of the fund and their strategy for achieving those goals.First, Mark speaks with David Giroux, chief investment officer for equity and multi-asset at T. Rowe Price Investment Management. He and Mark discuss the guardrails that are in place to prevent some decision-making biases, what the buy-versus-sell decision actually looks like, exploiting market inefficiencies, and many other topics.Next, Mark is joined by Chuck Craig, senior portfolio manager for Schwab Asset Management. Chuck is responsible for oversight and day-to-day management of international equity index Schwab Funds and Schwab ETFs. He holds a master of science degree in financial markets and trading and is a CFA® charterholder. As a manager of a passive index fund, Chuck's perspective on the buy-versus-sell decision is much different. He and Mark discuss how tracking an index works, how to balance risk, and the importance of securing tax efficiencies within the fund.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.This third party content presented is intended for informational purposes only and was provided by a third party source believed to be reliable. Neither Schwab Asset Management, Charles Schwab & Co., Inc. (“Schwab”), nor its affiliates, endorse nor can guarantee the accuracy, timeliness or completeness of the information presented.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Rebalancing may cause investors to incur transaction costs and, when a nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.Environmental, social and governance (ESG) strategies implemented by mutual funds, exchange-traded funds (ETFs), and separately managed accounts are currently subject to inconsistent industry definitions and standards for the measurement and evaluation of ESG factors; therefore, such factors may differ significantly across strategies. As a result, it may be difficult to compare ESG investment products. Further, some issuers may present their investment products as employing an ESG strategy, but may overstate or inconsistently apply ESG factors. An investment product’s ESG strategy may significantly influence its performance. Because securities may be included or excluded based on ESG factors rather than other investment methodologies, the product’s performance may differ (either higher or lower) from the overall market or comparable products that do not have ESG strategies. Environmental (“E”) factors can include climate change, pollution, waste, and how an issuer protects and/or conserves natural resources. Social (“S”) factors can include how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. Carefully review an investment product’s prospectus or disclosure brochure to learn more about how it incorporates ESG factors into its investment strategy.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.  Investing in emerging markets may accentuate these risks.Currencies are speculative, very volatile and are not suitable for all investors.Schwab Asset Management™ is the dba name for Charles Schwab Investment Management, Inc., the investment adviser for Schwab Funds. Schwab Funds are distributed by Charles Schwab & Co., Inc. (Schwab), Member SIPC. Schwab Asset Management and Schwab are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.Schwab ETFs™ are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with The Charles Schwab Corporation or any of its affiliates.Schwab receives compensation from T. Rowe Price to market and promote their funds, in addition to any shareholder servicing fees the fund company pays to Schwab which creates conflicts of interest. Learn more here about the compensation Schwab receives.  Schwab's Financial and Other Relationships with Mutual Funds(0423-31PC)

The idea of making your portfolio your own typically involves adding and subtracting specific investments. The concept of "addition by subtraction" is a key component of an investment strategy that's been going mainstream lately. In this episode we look at one potential way you can subtract or add to your portfolio by using a method known as direct indexing. This strategy allows investors to own individual stocks that reflect the characteristics of the index they wish to track.The main advantages of direct indexing are personalization and tax-loss harvesting. But there are some downsides as well: tax-loss harvesting is only valuable if you have gains to offset and there is the operational burden of owning individual securities compared to index mutual funds and ETFs.  To discuss the ins and outs of direct indexing, Mark Riepe is joined by DJ Tierney. DJ is a director and senior investment portfolio strategist for Schwab Asset Management. He has over 25 years of experience in institutional sales, trading, and capital markets, with an extensive background in and knowledge of ETFs and fixed income. He and Mark discuss separately managed accounts, the history of index investing, tax-loss harvesting, and many other topics.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.Neither the tax-loss harvesting strategy nor any discussion herein is intended as tax advice. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to Internal Revenue Service ("IRS") website at www.irs.gov about the consequences of tax-loss harvesting. Strategies that use screening to exclude certain investments may not be able to take advantage of the same opportunities or market trends as strategies that do not use screens. There can be no assurance that the strategies will achieve their desired outcomes. Each investing strategy brings with it its own set of unique risks and benefits.Schwab Asset Management™ is the dba name for Charles Schwab Investment Management, Inc. Schwab Asset Management and Schwab are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.(0423-388D)

In this episode, we hear Jodi's story. Jodi started her career in finance and developed a love of travel. She also had a passion for gender-lens investing and nonprofits that served young women. As she progressed in her career, Jodi faced a crossroads in her life. How would she find a path that fit her values?Jodi Morris is a success coach and venture guide who connects people to meaningful travel experiences in Africa, Central America, Southeast Asia, and other locations.Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.Market fluctuations may cause the value of investment fund shares held in a donor-advised account to be worth more or less than the value of the original contribution to the funds.Jodi is a client of Schwab and was not compensated by Schwab for their comments. The experience described may not be the experience of all clients and is no guarantee of future performance or success.Investing involves risks, including loss of principal.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate this risk.JodiMorris.co is not affiliated with Schwab.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.This information is for educational purposes onl y is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0924-TPW0)

There are many long-term financial-planning decisions we can lose sight of as we navigate the unexpected avenues of our lives. If left unchecked, these choices we made years ago may not match up with our current situation. Is there anything to consider in 2023 to help determine if these past decisions still make sense?In this episode, Mark Riepe is joined by Rob Williams, a managing director of financial planning, retirement income, and wealth management at the Schwab Center for Financial Research. They discuss five themes you should monitor in 2023 that should cause you to take a closer look at some of your financial-planning or wealth management decisions that normally don't get that much attention.Read Rob Williams' "2023 Planning and Wealth Management Outlook."Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.If you enjoy the show, please leave us a rating or review on Apple Podcasts. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.Neither the tax-loss harvesting strategy nor any discussion herein is intended as tax advice. Tax-loss harvesting involves certain risks including unintended tax implications. Investors should consult with their tax advisors and refer to Internal Revenue Service ("IRS") website at www.irs.gov about the consequences of tax-loss harvesting. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.(0323-3VTH)

Many people set New Year’s resolutions, but sadly, most don’t keep them. In this episode Mark Riepe offers several suggestions for keeping you on track with your resolutions, as well as proposing some specific resolutions that can help you better manage your financial life—whatever the date you choose to implement them.Mark talks with Carrie Schwab-Pomerantz about two of the most popular resolutions: setting and sticking to a budget and how to pay off debt.Then Rob Williams, managing director of financial planning and retirement income, discusses ways you can optimize your portfolio—and how you can prepare for the unexpected.Choiceology host Katy Milkman contributed to research about the “fresh start effect,” which is the tendency for people to get motivated to change their life after temporal landmarks like New Year’s Day or anniversaries.To read more about setting—and sticking to—your own financial resolutions, check out Rob’s article “New Year’s Financial Resolutions.”Follow Financial Decoder for free on Apple Podcasts or wherever you listen.Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder. If you enjoy the show, please leave us a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses. You can obtain a prospectus, or if available, a summary prospectus by visiting schwabassetmanagement.com. Please read it carefully before investing.Please read the Schwab Intelligent Portfolios Solutions® disclosure brochures for important information, pricing, and disclosures related to the Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium programs. Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ are made available through Charles Schwab & Co. Inc. ("Schwab"), a dually registered investment advisor and broker dealer. Portfolio management services are provided by Charles Schwab Investment Advisory, Inc. ("CSIA"). Schwab and CSIA are subsidiaries of The Charles Schwab Corporation.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Investing involves risk including loss of principal.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Diversification, asset allocation, and rebalancing a portfolio cannot assure a profit or protect against a loss in any given market environment. Rebalancing may cause investors to incur transaction costs and, when rebalancing a non-retirement account, taxable events may be created that may affect your tax liability.Money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.(0123-38Y8)