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If you’re a person who takes their morals and values seriously, then this should be reflected in how you make money, as well. Investments can be an excellent vehicle for helping you grow your financial future, but you, like many others before you, might have some concerns about where your money goes and what it funds. To that end, there are plenty of ways to keep your investments more ethical in nature. Here are a few tips to consider.
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Consider moving your superannuation
If you’re looking at your long-term goals, then you may have a superannuation. One of the benefits of a super is that, while you may not be able to access it until retirement, you can change who is holding it. If you are one of the many people who chose their super when they first got into the world of work, now is the time to ask your provider if they have an ethical option for it, as many have since designed and implemented them.
Investing in green technologies
One way that you can ensure that your money is going to a good cause while increasing your chances of profiting, is to look at the consistently growing field of green technology. As the need for efficient and sustainable solutions to all manner of daily and industrial issues continues to grow, there’s always money needed for new startups and technologies. There’s also money to be made in more reliable and established green technologies that are still spreading, as you can see by looking up how profitable are solar farms. Being at the forefront of the next major movement in sustainable technology could end up being highly lucrative, indeed.
Finding ethical funds
If you’re not looking to track individual investments and assets, then you might want to look into putting your money into a mutual fund. As such, there is a wide range of ethical funds that have specific criteria on what kind of companies and assets they invest in. Ethical funds tend to perform at precisely the same level of success and failure rate as their peers that aren’t screened as rigorously, you just need to make sure that you choose the one that has the right investment strategy for your needs.
Choose the right robo-advisors
It’s always recommended that you get at least a little familiar with the assets that you put your money into. To that end, robo-advisors can make things easier, but they also make it easier to lose track of your investment progress and the assets you technically own. That said, if you are using robo-investors, you can at least look at those that offer socially responsible portfolios, such as Betterment, Wealthfront, Ally Invest, Acorns, and Stash. Take a look at the options they offer to see what causes they support and what kind of gains they offer.
Being ethical in your investment choices doesn’t mean you have to lose any money. It just means you might need to be more particular and spend more time finding the investments that work for you.
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