In midlife most of us think more about giving back. Now here’s a way to do well by doing good – Socially Responsible Investing. It means making sure the companies in your portfolio stack up in terms of how they treat the environment and society, and how transparent their practices are. Andrika Boshyk of the Social Investment Organization says the best way to get started is to talk to your financial advisor.
“It isn’t necessarily customary for the financial advisor to have to ask about your values when you’re discussing your portfolio. We encourage investors to initiate the values based discussion. What things are important to you? If it’s tobacco. If it’s military or if it’s nuclear.”
Socially Responsible Investing has really gone mainstream. In the last three years, it’s grown from 64 billion dollars under management to over 500 billion.
It is the baby boomers who actually can make that difference with their money and their portfolios by actually divesting out of companies perhaps that they feel are not necessarily meeting those standards. The Social Investment organization offers consumers a list of advisors and fund companies that follow these practises.