Retirement funds to prioritize climate change over profit with your investments?

[RankAmateur]

You may want to ensure your retirement fund/managers is actually acting as a fiduciary for YOUR interests... Move money from employer-sponsored plans to one you control if necessary.

Biden to allow employers to consider green investments in 401ks

The Biden administration will allow employers to invest pension money in green industries that could provide lower returns for Americans.

www.dailymail.co.uk

 

[benenglish]

Wow. Just...wow.

Aren't there professional standards bodies who would react badly to such shenanigans?

ETA - 5 minutes on a search engine turns up over a dozen different professional association certifications. I get the feeling that being a credentialed asset manager may be something that means you've devoted years of hard work to learning or may simply mean you bought a fancy-looking diploma to hang on your wall or anything in between.

No wonder there's room in the market for people to make investment decisions on the behalf of others while considering "green" factors over asset preservation.

That's awfully disheartening.

 

[Havok1]

ESG “investing” is an absolute joke. It would be unfortunate if people with pensions get stuck with their money invested this way, with nothing that they can do about it.

 

[G O B]

THEFT

 

[RankAmateur]

Will require us to ask questions in the right way to get meaningful answers. I have only invested with fiduciaries, and all have been enthusiastic about espousing their "fiduciary responsibility to you as the investor". Unfortunately, the modern word game applies here. Fiduciary (as a noun) is defined as "one that holds a fiduciary relation or acts in a fiduciary capacity", while fiduciary as an adjective is defined as "of, relating to, or involving a confidence or trust". So, a "fiduciary" could claim to be such by asserting that they are acting in your best interests. They could also believe that investing with respect to preserving the planet is in your best interest. Yes, this could be interpreted as a fringe case but I transferred funds from a retirement investment management company early THIS YEAR because the manager made exactly this claim!!!

Ask your financial advisor if they consider ESG in making investment decisions in any way and RUN away if they either admit to it, or they claim that they don't know what ESG is (yes, I've had advisors claim they didn't know what I was talking about.)

 

[Grumps21]

What a load of shit. ESG doesn’t pay the bills. Stupid bunch of fuqtards. Yes, I’m pissed

 

[toddnjoyce]

Wow. Just...wow.

Aren't there professional standards bodies who would react badly to such shenanigans?…

What’s disheartening is politicians are re-defining fiduciary responsibilities to include aligning with desired political outcomes. That’s unethical at best.

 

[Havok1]

What’s disheartening is politicians are re-defining fiduciary responsibilities to include aligning with desired political outcomes. That’s unethical at best.

Do you expect anything less?since when are politicians anything but self serving?

 

[GeauxLSU]

Does anyone have a 401k they can't self direct?
Lol at ESG "investing". More like ESG charitable contributions.

 

[Eastexasrick]

Does anyone have a 401k they can't self direct?
Lol at ESG "investing". More like ESG charitable contributions.

When you leave the company that you have your 401K with, it becomes your own self directed 401K. Move it to whatever 401k approved investment vehicle you want, just don't cash it out unless you are willing to accept the tax ramifications.

 

[toddnjoyce]

Does anyone have a 401k they can't self direct?
Lol at ESG "investing". More like ESG charitable contributions.

There are many that way. Then there’s the offerings inside the 401K that are limited, too.

But Biden’s direction impacts corporate investment portfolios as well, which is where the real money is.

 

[GeauxLSU]

I guess I've never had one that had such limited options that I couldn't easily avoid such lunacy.

 

[Havok1]

I guess I've never had one that had such limited options that I couldn't easily avoid such lunacy.

This will have more of an effect on pensions than 401ks. With pensions people have no say in how the money is invested.

 

[oldag]

WSJ study found that most of the ESG focused funds underperform.

 

[GeauxLSU]

WSJ study found that most of the ESG focused funds underperform.

My shocked face...

 

[Tnhawk]

FJB

 

[Fishkiller]

I have a financial advisor that thinks like me. I don’t care what you do as a corporation as long as the returns are good. Stocks and funds in oil, tabacco, plastics, wind turbines etc. the whole ESG thing is a feel good for the weak

 

[popsgarland]

My financial advisor tells me how much I can spend, when I can spend it and advises me on what I can spent it on.



She's highly intelligent and after 29 years marriage, I still call her sweetheart.

 

[kbaxter60]

THEFT

More like "grift", right?

 

[rotor]

FTX might be a good investment too.