If you care about certain causes you may not want to invest a significant portion of your retirement savings in businesses that directly contradict those causes.
You may make every effort possible to choose products that are in keeping with your personal philosophies. You buy organic, look for fair trade labels and try to buy clothes made without child labor. When it comes to your retirement investing you may not have considered that you could be investing in companies that are directly at odds with your beliefs.
When you invest in a company you are becoming a part owner. A vegetarian, for example, may invest hundreds of dollars a year in a mutual fund that owns meat processing plants without realizing it.
For many years now there have been mutual funds such as Pax World Funds and Calvert that screen companies for certain criteria such as use of fair trade practices, non tobacco and weapons investment, etc.
Your own requirements for a socially responsible fund may differ from that of another person. There are sites such as The Social Investment Forum, listed below, that have lists of funds with different investment goals as well as different social goals. One fund may be Christian related and not invest in pornography, stem cell research, etc and another fund may be aimed at green energy and companies that use green practices.
Check the forum and also consult with your investment adviser before making any choices.
No comments:
Post a Comment