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Charles Schwab | How to turn on DIVIDEND reinvestment (DRIP) | Passive Income - YouTube
Channel: Hidden Freedom
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hey everybody Dave here in free
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investing and today we're just gonna do
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a quick video on Charles suave and how
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you enable dividend reinvestment and
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we're gonna also look at the web in
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addition to the Android app so
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fortunately I don't have an Apple phone
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to show you how that works so let's go
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ahead and get logged in to the Charles
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Schwab website here and we'll go ahead
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and show you what I'm talking about so
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once you get logged in to Schwab this is
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what you're gonna see if you have the
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account summary basically turned on from
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the get-go I do have two accounts with
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Schwab and it's actually showing both
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accounts here in one view that's what
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this little arrow is here or tell me
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that I have basically two accounts
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underneath that position so that's the
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way the reason why the invest shows is -
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- there because it needs to show you the
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individual status per count so if you
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only have one account then it'll
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probably show you just yes here or no
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here but what we're gonna do is it's
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gonna drop down the actual individual
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accounts we can show you what I'm
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talking about
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[Music]
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so we are on the basically the positions
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page up here now and we are looking at
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one of my accounts now it is set to all
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brokerage accounts but this drop down
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there's actually two accounts there but
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if you only have one account this is
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what you're going to see we scroll down
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you will see all my positions and you'll
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see and reinvest right there and they're
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all set the yes so if you want to turn
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reinvestment on or off you just click
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this yes and then you have the option
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here to do a yes or a no and then hit
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update anywhere I can do it change we
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don't want to change that so they are
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all set to yes on mine and so how would
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you turn this on if you're actually just
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getting into a brand new position so
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let's go ahead and look at how you would
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do that you come back up to the top and
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you go to trade over here click on trade
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then from here what you have is you want
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to enter a symbol we're just gonna do
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like Oh
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for example Realty income and then your
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action you're gonna do you know by cuz
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you're gonna buy a stock and then
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there's your option right there reinvest
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dividends
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check or uncheck so if you want to
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reinvest dividends from the get-go click
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that box so here we are logged into the
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Charles Schwab app on my android phone
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and you I have two accounts there so
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what is going to click on one of those
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accounts and you notice here I'm
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underneath positions and I've clicked
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all through here there is no option to
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check whether or not dividend reinvest
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is turned on I cannot figure out how you
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would turn on or turn it off from the
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app for an existing position that said
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there is a way to turn it on when you
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get into a new position so let's go and
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look at that so you click at the top up
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here on the right hand side you click
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the three dots you go to trade and then
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from here you enter your symbol
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we'll go ahead and just do Chaffee
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Morgan because that ones at the top will
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click by and then there's your option
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dividend reinvestment you click on that
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little arrow button there and then you
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have a toggle basically on the
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right-hand side their dividend
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reinvestment if it ends on or off that
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is how you get into dividend
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reinvestment on trial swab on the
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Android app getting into a new position
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so like I said there is no option on the
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Android app to turn on or off on
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existing positions I have not been able
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to find that option it doesn't appear to
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exist so maybe they'll do an update to
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the app at some point maybe I'll do an
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updated video so for now that's how you
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do it if this video helped you out
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please go ahead and give it a thumbs up
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go ahead and subscribe and we'll see you
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next video thanks for watching
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