Navigating Retirement Without Embracing Private Prison Funding for Comfort
Ever had a conversation about whether you're invested in private prisons and found yourself unsure, even if you're invested in mutual funds? Well, here's an update to help clarify things. On Feb. 25, 2021, I wrote about unknowingly investing in private prisons. But what if you're concerned about missing out on potential returns by excluding certain sectors or companies? Investment fund managers make decisions about what to include in their portfolios, and while we can't predict the future, there are resources available to help you align your investments with your values.
One such resource is the Morningstar Sustainability Ratings. While they don't have a dedicated rating for private prisons, you can use their ESG (Environmental, Social, and Governance) ratings to filter out funds with high concerns. Funds with high ESG ratings usually have better social governance practices and are less likely to invest in industries like private prisons.
Another valuable tool is YourStake. This platform allows you to screen your investments for various criteria, including ESG factors. You can use their tools to exclude mutual funds that invest in private prisons or any other socially undesirable sectors.
And let's not forget about Prison Free Funds provided by As You Sow. This resource specifically targets mutual funds that are free from investments in private prison companies. It's a great way to ensure that your investments align with your values.
To use these resources effectively, simply visit their websites and utilize their screening tools. This will help you identify mutual funds that avoid investing in private prisons. Remember, investing in something you feel strongly against might not be the best decision for your financial future or your conscience.
So, the next time someone asks you if you're invested in private prisons, you can confidently answer based on your values and the knowledge that you've made informed investment decisions. It's all about finding the right tools and using them to your advantage.
- Despite being invested in mutual funds, you might unknowingly be supporting private prisons, which is a concern for some individuals who prefer to exclude certain sectors or companies from their investments.
- The definition of social investing involves aligning your investments with your values, and resources like the Morningstar Sustainability Ratings can help you exclude funds with high concerns in private prisons or other socially undesirable sectors.
- Unfortunatley, Morningstar does not have a dedicated rating for private prisons, but their ESG ratings can be used to filter out funds with high concerns deriving from poor social governance practices and investments in such industries.
- Prison Free Funds, provided by As You Sow, is a valuable resource that specifically targets mutual funds that are free from investments in private prison companies, allowing you to make informed decisions and avoid investments that contradict your values.
