Grow Wealth, Do Good
This year has not been great for our family vacations. We were supposed to go to Siesta Key in June, but unforeseen family emergencies and surgeries (don’t worry, everyone is recovered and doing great!) forced us to postpone until November. And then, hurricane Helene ripped through the area, followed by Milton. Clearly, Siesta Key is not in the cards this year.
I'm not saying this to complain. Like most of the country, I've been watching this devastation non-stop for the last couple of weeks. Seeing these massive storms wreak havoc from Florida all the way to Dayton, Ohio makes me grateful for everything I have. But it also makes me more anxious about global warming. I used to joke that one day I could own beachfront property in Ohio. After witnessing the destruction these hurricanes have caused and experiencing almost 90-degree temperatures in October here in Columbus, it's not funny anymore. I’m very concerned.
So what can we do? As a financial advisor, one impactful way I can help combat global warming is through investing with a purpose. This strategy, often referred to as impact investing, allows us to put our money into companies and projects that strive to make a positive difference in the world. Here’s how you can start:
First, take a step back and think about what matters most to you. Is it environmental sustainability? Social justice? Community development? Pinpointing your priorities will guide your investment choices. Are you ready to make your wealth work for the causes you believe in?
2. Research Impact Investment Opportunities
Once you know your goals, look for investment opportunities that align with them. This could mean investing in renewable energy, companies with strong environmental and social governance (ESG) practices, or funds dedicated to gender equality. Have you explored the wide range of impact investment options available?
3. Evaluate the Impact
Not all impact investments are created equal. Assess the potential impact of your investments by looking at the company’s mission, track record, and measurable outcomes. Are your investments truly making a difference?
4. Diversify Your Portfolio
As with any investment strategy, diversification is key. Spread your investments across various sectors and asset classes to manage risk and maximize returns. Is your portfolio balanced and diversified?
5. Monitor and Adjust Your Investments
Regularly review your investments to ensure they continue to align with your goals. Be prepared to make adjustments as needed. Are you actively managing your investments to maximize both impact and returns?
Why It Matters
Investing with purpose is more than just a financial strategy; it’s a way to use your wealth to support the kind of world you want to live in. By making thoughtful and informed investment choices, you can drive positive change and potentially influence corporate practices. Plus, it just feels good to know that your money is doing more than just sitting in a bank account—it’s out there making a difference.
Conclusion
Investing with purpose empowers you to use your wealth for good, making a positive impact on society and the environment while working towards your financial goals. By identifying your values, researching impact investment opportunities, evaluating the impact, diversifying your portfolio, and monitoring your investments, you can create a meaningful and purpose-driven investment strategy.
If you’re curious about how to make your investments reflect your values, let's chat – jennifer.jenkins@bluestonewp.com. I’m here to help you navigate the world of impact investing and make a meaningful difference with your wealth. Together, we can create a strategy that’s both financially rewarding and aligned with what matters most to you.
