We are experiencing a new era of social consciousness that has never before been experienced in the United States. All over the country, people are starting to find socially responsible ways to consume their products, making sure that they are able to purchase non-exploitative items from companies that they trust. Gone are the days where people don’t ask question about where their products come from, instead there is an ever-growing scrutiny about the ethics of where a product was made, how it was produced and most importantly, if the company’s ethical practices are in line with the consumers.
This is exciting, because it is pushing companies to have more humane conditions for their workers and will overall reduce exploitation and even slave labor in third world countries that have been longed exploited and condoned by most companies. As an investor, you’re probably starting to wonder how you can combine your love of investing into companies with your desire to have a strong, socially responsible form of investments. How can you invest in companies while at the same time, making sure that your money is only going to support good companies and not those who would use terrible exploits of people in poverty?
Netpicks is here to provide you with a quick and simple guide to being socially responsible with your investment capital. Since their inception in 1996, Netpicks has had a mission to help the average, everyday individual learn how to trade smarter with their money. They know that it takes a lot of work and effort to gain investment capital in the first place, and their goal is to help investors make that money work for them.
How do they do this? Quite simply put, they provide expert training, coaching and resources to allow people like you to become capable and skilled traders in a matter of weeks. And best of all, Netpicks is run by traders, people who are actually participating in the market each and every day. There are no theories or dusty, dry academic beliefs with Netpicks, instead you get practical advice that is practiced daily by the people who are working at Netpicks. So what do they say about socially responsible trading? Well, there are a few steps that you can take to ensure that you are doing right by your money and with your money.
The first step is to realize that socially conscious investing begins with you. If you end up broke, you won’t be able to help anyone with your money, no matter how much you want. So with that in mind, you should be extra careful with where your cash is going. A lot of times, a broker can suck up all of your profits through commissions. You might end up making a lot of money through an ETF, but by the time you are doing paying off the broker, you find that you are the one who’s broke-er. Be on the lookout to save as much money as possible by looking for low cost brokerages who charge flat fees. This way you can focus on using the most amount of money that you have to do good.
The next step is to pay attention to which companies are in an ETF. An ETF is similar to a mutual fund, except they can be traded like a stock would. ETFs contain stock in many different companies and tend to be very diverse in nature. A socially responsible individual would know what kind of companies are inside of the ETF and would make sure that their money isn’t going into one that contains a company that is exploitative or using illegal methods of child labor.
Another part to recognize when it comes to socially responsible investing is that not only are you responsible to do right by others with your money, but you are also supposed to do right by yourself and your household. A lot of times, an investor’s eyes can get bigger than their stomach and they might end up trying to go all or nothing when it comes to putting their money in a company. This might seem like a great way to make fast money, but socially it is irresponsible, because if you end up losing all of your money on that trade, you are losing your ability to interact with the world around you. Remember, money is influence and power. If you don’t have it, then you won’t be able to do much good. This often gets lost on a lot of people who want to make a difference in the world. The best way that you can help others is to focus on gaining the resources to help first.
Therefore, it is extremely important for you to always diversify your portfolio. No matter how appealing a single sector, stock or ETF might look in the moment, you must have the discipline to spread your money around. If you put your eggs all in one basket and that basket drops, you will be left with nothing but a mess.
And lastly, if you really want to give back with your investments, you might want to consider a microloan. A microloan is a small loan given to someone in a third world country so that they can run their business. Microloans are structured like a traditional loan, but don’t particularly generate a lot of revenue for the investor. While the amounts of money tend to be small to us, such as $25 to help a small business owner in a foreign country replenish their inventory, it can actually be a large amount of money to them. You shouldn’t look at microloans as a crazy great way to make money, as the benefit is largely for the person you are loaning to, so it is a great socially conscious way to invest.
So there you have it, those are a few ways to responsibly invest your money. For more tips and strategies when it comes to investing, diversifying and making money on the stock market, consider Netpicks, because they are more than just a stock advice company, they are a strategic stock market powerhouse. You can’t possibly go wrong with actual traders who spend each and every day in the market.
Further reading: https://www.dailyforex.com/netpicks/netpicks-review/195