I recently checked my 401(k), which I signed up a while back by randomly picking funds that had a good return history, and while it was good to see the results, I was a bit let down when I saw the name of the companies like Exxon and Haliburton. God knows what companies are in the international fund I have signed on to, and what are their business practices.
When I checked some of the other funds that I hadn’t signed on to, they pretty much had a similar mix of companies that I don’t particularly like.
So, in this era of mutual funds and such, how to keep a clean conscious knowing you own part of companies that sometimes go against your personal beliefs?
Re: Socially Responsible Investing
a number of mutual funds are now getting into the whole CSR and SRI niche. You may want to look em up.
here is one resource
http://www.socialfunds.com/
Re: Socially Responsible Investing
I did look them up as they were the first that comes in a google search. But the way I understand it is that the financial institution with whom my employer has 401k account with, has to offer it as an option to invest in these accounts. In my case, the option isn't there.
The only other way is to invest in these funds with the taxable income. Right? Sorry, I am a bit finance/economics challenged.
Re: Socially Responsible Investing
AJ that is correct, however depending on your financial situation you may want to look at a Roth IRA. There is some sense in going for that since you will not pay tax on any of it when you withdraw..for many of us we may be making more wen we retire than we are now thru businesses or consulting or whatever, additionally, I can bet that by the time you and I retire the tax rate will be higher.