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06-04-2010 Charles Schwab
Charles Schwab
WHO WE ARE:
At Schwab, we’re known for our commitment to helping people at every stage of life save, invest and manage their money. But financial well-being is about more than building wealth. To make a difference, we aim to improve financial literacy through education, volunteerism, and philanthropy.
WHAT WE DO:
Financial education is our top priority, and we strive to make a positive impact on the communities where we live and work.
Financial Education: Through research, Web sites, workshops, articles and books, we help consumers with the money issues that matter most. Schwab MoneyWise® is our educational program for the general public, which includes our award-winning Website, www.schwabmoneywise.com.
In collaboration with Boys & Girls Clubs of America (BGCA), we’ve helped teens from underserved communities learn the basics of personal finance through the Money Matters: Make It Count® program. Since 2004, more than 180,000 teens in 1,500 Clubs have completed this award-winning program.
Employee Volunteerism: Schwab employees donate their time and talents to bring Schwab's vision and values to life.
Nearly 2,000 employees participated in 129 projects during our annual Schwab Volunteer Week, May 17-21, 2010, with an emphasis on helping the underserved improve their financial well-being.
We partner with organizations that provide comprehensive assistance to people in need and provide financial coaching to low-income families and individuals through SingleStop USA in San Francisco, Foundation Communities in Austin, TX, and Goodwill Industries in Indianapolis, IN.
Corporate Giving: We encourage employee philanthropy, provide financial support and sponsor charitable events through the independent, nonprofit Charles Schwab Foundation and The Charles Schwab Corporation.
For more information, go to www.aboutschwab.com/community.
WHAT’S NEW:
Schwab’s Annual Families & Money Survey
A connection between taking out the trash and managing cash? The road to financial independence for today’s youth stretches out farther than ever before, with 41 percent of so-called “sandwich generation” parents continuing to provide at least some financial support to their young adult children, according to the 2010 Families & Money Survey released by Charles Schwab & Co., Inc. The survey polled adults who have at least one child between the ages of 23-28, as well as at least one living parent.
Although the survey revealed that young adults are more dependent on their parents than in previous generations, it also uncovered signs of how young people can get a head start before they reach their 20s. Parents whose children regularly did household chores growing up were more likely to view their young adult children as “very financially responsible” (53 percent) as compared to those whose children did fewer or no household chores (46 percent and 39 percent, respectively). Parents of children who didn’t do any regular chores also see themselves as having been poorer financial role models.
“There’s a connection here we shouldn’t miss,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation. “More than just sharing our financial knowledge as parents, fostering a spirit of personal accountability can inspire the right financial behaviors in our kids.”
What are the top three areas where parents believe their children could stand to improve?
- How to stick to a budget and live within their means (48 percent)
- How to save money (42 percent)
- How to invest wisely (33 percent)
Learn more about this and other Families & Money surveys at www.schwabmoneywise.com.
About the Survey
The 2010 Families & Money survey was conducted by Lieberman Research Worldwide on behalf of Charles Schwab & Co., Inc. in February 2010. The nationally representative online survey polled 1,000 people who are parents of at least one child, age 23-28, and who have at least one living parent. The average age of survey respondents was 53. The survey findings have a margin of error of plus or minus 2.6 percentage points at the 90 percent confidence level.
CONTACT INFORMATION:
Christopher Schraeder
(415) 667-1593
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