Reconcile me this, Batman.... How can a socialist leaning

[Union Thug]

progressive such as myself accomodate his personal issues with capitalism and the desire to 'invest' some money ? I hate wall street, I hate the suit-strapped money jockies that sweat and stink of greed that run the show there, but I have an interest in trying to protect my family's future in this age of rapid change and diminishing social safety nets... Up until now, I've just been shoving money into a savings account, but that just enriches the bastards at bank of america.

So what do socially aware people do to grow a nest egg?

[evlbstrd]

1. When you find out, let me know.

Building a Democratic-Socialist society would be the best way.

[Rabrrrrrr]

2. You use your money to invest in things that help people -

like companies, which provide products and services, and also provide jobs for people.

Not to say that corporations are without sin, but I don't think there's anything wrong with investing in stock, mutual funds, bonds, etc.

And if you are really bothered by it, invest in the really good companies, like Ben & Jerry's and Starbucks, that help the environment, donate to liberal causes, and treat their employees like human beings.

[eleny]

3. I'm sure that I read about a mutual fund that's "blue"

It may have even been here at DU. You might try the DU groups that deal with economics. They may know.

[TwentyFive]

4. Socially Responsible Investment firms & investing in local businesses.

I have many Socialist leanings, but also have a great interest in business too.

I don't think business and socialist/progressive ideals are contradictory with our current system. For example, if we are ever going to get away from using fossil fuels, it will be inventors/scientists/entrepreneurs that do it.

Entrepreneurs and Progressives/Liberals share a love of new ideas. It's the monied interests/conservatives that guard the status quo. Just think, if we came up with a viable alternative energy....it would make ExxonMobil, Shell, Halliburton, etc....worthless overnight. All those trillions invested in oil leases, refineries, etc would be worthless...overnight. How much fun would that be?

Look for companies that are run by a founder who has a good record on issues important to you. Do they treat their employees like human beings. They can be a small business in your local area, or a bigger company that has a social heart. Another idea is to real estate investing...you can buy a house and rent out rooms to lower income young people who are trying to make it, but often have no alternatives.

Helping out the good guys...and making money don't have to be mutually exclusive. Good luck to you!

[1932]

5. Start your own bank. Give out $100 loans to poor people in your neighbor-

hood so they can make their lives better.

[DanCa]

6. I am far from a finicial guru but...

I mean this from the heart and so please dont take this the wrong way. Dont be so hard on yourself and you just cant be a purist in todays society. The best advice i can give you is to find a company who invest in democratic causes and the like and forget about the label. Otherwise you'd drive yourself crazy. Have fun.

[NMMNG]

7. Here are some links that might be of assistance

Social Funds.com

Rocky Mountain Humane Investing

Ethical Funds

Good Money

Social Investment

[NoSheep]

8. I have some ideas and one company to check out:

For the benefit of those who will read this, who do not have capital to invest, there are ways to invest your energy and buying power that will make a difference.

After experiencing much pain, frustration and loss working in the private sector, I have decided to concentrate my job search in non-profits, public sector jobs (city, state) and education arenas. I hope to better serve my community and not just the business world that exists to feed the fat cats on the backs of the worker.
In this way, if I am successful in my search, I will be investing my energy in something I can believe in.

I try to shop at stores that are better for workers and that contribute to the democratic party (Because that's the only party I have to vote for that makes any sense to me)

If I had money to invest...I feel like Cinderella!...

I have learned of an investment company that buys forest land
www.forestlandgroup.com
Their goal is to get it before the monsters do and insure that if it is harvested, developed, etc., that it is done with a sustainable, green awareness.

[muriel_volestrangler]

9. Do you own your own home? Without a mortgage?

I would think that a socialist would be able to justify owning their own house in a capitalist system in which few people get housing through the state. So you could pay off your mortgage as much as possible. If you don't already have a home with a mortgage, however, you'd be betting that the housing market isn't going to crash - which may not be wise at the moment.

So after that, I'd suggest ethical investment funds - I know there are several in the UK, and I'd have thought the US would have them too - avoiding investment in companies with bad employment records, or environmental records, or their area of business (arms etc.).

[Toots]

10. Real Estate

It continues to go up up up in value.

[Union Thug]

11. Thanks everyone..

You've given me some things to think about!

[Squatch]

12. Divorce your emotions from the utility of money and earning

[Deja Q]

13. I wouldn't. The economy is about to crash; you'd lose it all.

[Union Thug]

22. yeah, that's kind of a scary thought...

And having only a couple of days ago watched a public access broadcast of Lyndon LaRouche pontificating about the inevitable decline of the American economy, that particular bug has been creeping around in my head...

Not that I am a LaRouche minion by any standard whatsoever, but having watched him pontificate for an hour, the idea became frozen in the front of my mind! ;-)

[theboss]

14. Man's gotta eat

Go talk to a broker.

[moddemny]

15. You shouldn't let sweeping generalizations.......

..... of capitalism, get in the way of your family's future.

[tjwash]

16. You know what, just do it.

It's called playing the game. This is our society for all it's warts.

If your just shoving it into a savings account, you should consider putting it in a CD. B of A has some decent rates, and if you split it into two CD's it won't get locked up so you can access it any time. Some of the local credit unions are pretty good too, but you may have to lock up your money for a year in one.

[fob]

17. First thing you do is take your money out of that hellhole BofA!

Find out where your Union banks or find a local credit union or something. Then check out progressive investments. I transferred an old 401k into a progressive fund last year. I don't think I should give the name as I am NOT a qualified financial analyst, just google around and you'll find something palatable.

I wish you success!

[K-W]

18. Investing is no worse than a savings account.

Its not like the bank isnt investing your money.

[Union Thug]

20. Exactly...which is why I'm trying to find alternatives

where I can control to some degree who benefits from the investment. It's not like I'm rich and have mega amounts of cash to throw around, I just want to move what little I've been able to save into something more in line with my values.

[Viking12]

19. Calvert Funds

Sorry if the specific plug violates DU Rules, but this group is a leader in socially responsible investing.

"Calvert recognizes that today's social and economic issues have a way of becoming tomorrow's economic problems. So, investing in companies that are committed to meeting the challenges of the future with an expanded view of corporate responsibility is more than just a matter of "doing the right thing" - it also makes good business sense."
http://www.calvert.com/sri.html

[SeveneightyWhoa]

21. Just invest in companies you feel comfortable supporting.

Do your research.

And if you really "hate Wall Street", why not invest in foreign countries? Invest in Bay Street -- Canada's TSX (The Toronto Stock Exchange). Canada's economy is doing better anyway, and our dollar is likely to go up, which increase the value of your investment. You should seriously consider it..

[Union Thug]

23. Interesting point...

my total lack of experience in this area is obviously showing through. Thanks for the input!