How to Be a Socially Conscious Investor
As I help clients open investment accounts and show them how to buy stocks, they ask: “How can I be a socially conscious investor?” I love this question because it shows they care and don’t want to f*ck up the planet.
In reality, companies must rely on some level of exploitation to even be publicly traded companies. Even the “less bad” companies. America is extremely privatized. It’s not our fault that our retirement accounts are tied to the performance of corporations, like, Wells Fargo, for example, which preyed on millions of people and opened fake accounts to boost commissions.
We inherited the capitalist system. It doesn’t HAVE to be this way, but in order to change it, it’s important to know how it works.
Even though we can’t control everything, there is a lot we CAN control.
We can never know what goes on behind closed doors. I worked at a publicly traded company that claimed to be a great place for LGBT employees. Yet, I never felt embraced as a nonbinary employee…just tolerated. Transphobic clients would tell me over the phone that I “didn’t sound like a Charly.” Nevertheless, I learned a lot and now help marginalized folks invest into the stock market and reap the benefits. Companies make decisions everyday that will benefit their bottom line. That is the priority. Make money for investors. Aka you!
However, we can control how we spend our money. I focus on how I AM being a socially conscious investor and business. I’ve spent almost $30,000 in 2022 supporting other businesses, ALL women/WOC owned, this year. In 2020, I sold $3,000 in Tesla stock after it grew a bit to pay my Latina business coach, @catdelcarmen. She is helping mostly WOC become financially independent through entrepreneurship.
I just sent her another $6,000 in late 2022 to join her business coaching mastermind in 2023 and am so excited to build wealth in community with my people.
WE are the socially conscious funds. It’s up to us to support the type of businesses that are serving our people.
Entrepreneurship is at the core of America, and we can do our part to prop up the people that are out here doing good. By supporting other business owners, I’m being a socially conscious investor. Giving out free content, like my Instagram lives, podcast episodes, and blog posts, is my way of giving back.
By just being my queer self and showing up as an example for other humans who want to quit their toxic jobs, max out their retirement accounts, be financially independent and travel the world, I’m being socially conscious.
My dream is to eventually sell out of all U.S. corporate stocks and invest completely in my community as a form of mutual aid. I’ve already started to do it!
You can be a socially conscious investor by focusing on your community. Learn more about working 1:1 with me here. In my 6 month coaching program, we will have these kinds of conversations that will change your relationship with money forever!