Expert advice on making your money work for you, both financially and in a socially conscious way
Target investments with return rates that mirror inflation
InvestigateTV - During times of high inflation, experts advise you find ways to maximize your investment returns. However for some, it is equally as important to put their money into socially conscious companies.
Danetha Doe is the creator of Money & Mimosas, a website where you can learn about building wealth in socially and environmentally friendly ways. She said it is important to be more mindful about how we spend, invest and save our money.
For example, if inflation is hovering around 8.6%, Doe explained that that you should look for a return as close as possible to 8.6%.
“If you look at your savings account, unfortunately, your savings account is not one of those places.” Doe continues, “Most savings accounts hover around 1% or less.”
Doe suggested looking for an investing platform like Steward, which allows you to invest in farmers practicing sustainability. Steward guarantees a 4.5% return.
While 4.5% doesn’t match 8.6% inflation, it’s still much closer than your savings account.
Another option if you care about sustainability is Carbon Collective’s 401(k) plan, which is a green plan. They only invest in sustainable products and companies.
For more information on investing, Investor.gov is filled with advice, explanations, and resources for all levels of investors.
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