From the course: Personal Finance Tips and Tricks
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Socially conscious investing
From the course: Personal Finance Tips and Tricks
Socially conscious investing
- Wouldn't it be great if the goal of all investing was to do good while doing well? It's a great feeling. Using your money to invest in causes that you're passionate about in order to help them, and by doing that, you succeed too. This is socially-conscious investing, sometimes known as impact investing. The first thing is that like any investment, your impact investments should be a part of an overall balanced approach to growing your money. Too few eggs in a basket can be risky. You should also have a clear idea of your expectations of cost, returns, and risk. Now, cost. Sometimes fees charged by socially responsible funds are higher than regular funds. Be sure to compare the expense ratio, which is the percentage of your investment that goes towards management fees. I look to exchange traded funds with fees of 0.5% or lower. Next, consider the returns. You don't have to sacrifice returns, also known as profits, to be a socially conscious investor. Consider the snappily named MSCI…
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