Tuesday, October 31, 2006

ReImagining Investment

I know I posted this on Pax's blog, but I'd like to broaden the post's exposure.

So we have no savings, no stocks, no bonds, no investments other than the few things we own. This does not really bother me...not currently anyway.

I am deeply skeptical of making money by supporting unethical corporations or governments and do not really care to play that game. However, I understand that there are needs out there for capital...but I only want to provide capital to something I'd feel good about, even if the return was lower.

That being said, I am looking to open a Roth IRA or 529 College Fund for the kiddo.

I know that there are a few "ethical" investment services/firms, like PAXWORLD or Winslow Green or the Social Funds Site. Are there other things like this out there? Does anyone have experience with this? Or are there socially progressive investment opportunities? Ways to use this investment to make the world better, not more greedy and militarized?

I want to set up an account for my kid for when he's 18 to do college or travel or start a business. I do not want to make money off of corporations/governments that I do not trust.

Is there anything out there for someone like me? Help?

3 comments:

Mazz said...

i am looking into this as well. Grist.org has a helpful article:
A How-to Guide to Guilt-Free Moola
http://www.grist.org/advice/books/1999/09/01/guide/index.html
Here is the firm mentioned:
http://www.naturalinvesting.com/

Also check out Calvert:
http://www.calvert.com/

Craig Bob said...

Socially Responsible Investing (SRI) is it's own well-developed sector of for-profit investment products. I addition the brands you mentioned, one of the best known is Domini: http://www.domini.com/

Kirsty said...

Thats cool that you are thinking of that:) On a similar note I gotta open a US bank account when I get over there, so are there any in San Francisco that are more ethical, I know its probably an oxymoron, but I was just wondering. Someone said Washington Mutual may be a bit more ethical, any ideas?