Climate change, economy, environment, ESG, new economy, retirement, Socially Responsible Investing, SRI

What is Socially Responsible Investing?

I have recently had several people ask me about SRI. What is it? Why does it matter?

The first thing to understand is SRI means different things to different people. Several years ago I attended a gathering of advisors focused on sustainability at the Bloomberg headquarters in NYC. I talked to many of the 300 attendees and what I found was every single person had a different interpretation of what SRI meant.

Some focused on promoting clean energy, some focused on workers issues and inequality, some focused on climate change, some look to exclude alcohol and tobacco, others focused on micro lending. Each focus is unique and approaches the challenge of investing with different assumptions.

Ultimately the client needs to feel comfortable with the advisor’s experience, their outlook, and their rationale to do what they do using SRI.

The first step for the client… they should feel comfortable exploring and addressing the impact their investment dollars are having in creating the world we see around us.

If your mother died of lung cancer at 42 because she smoked 2 packs of cigarettes a day, do you want your money allocated to tobacco stocks?

If you oppose war and weapons on moral grounds, do you want your money allocated to arms manufacturers?

If you are concerned about climate change, do you want your money invested in carbon intensive industries like coal and oil?

In addition to excluding specific companies, you can choose to support industries that are proactively working towards change.

Do you want to support and invest in renewable energy?
Do you want to support and invest in companies that have strong corporate governance and diversity?
Do you want to invest in companies that embrace change, fair wages, and economic progress?

Ultimately that client has a great deal of power in terms how the market is priced and where capital is allocated. One investor, combined with hundreds of others, combined with millions more, combined with foundations, endowments and pensions, can have a huge impact…

The question you have to ask is, do your investments match your values?

To learn more and discuss how SRI may help your portfolio please reach out to me. I would love to chat.

Retirement Income. Tax Efficient Planning.
Life Insurance. Disability Insurance
Socially Responsible Investing

To learn more contact:
James Cox
Ph: 610 293 8309
Email: james_cox@devon-financial.com
Devon Financial Partners 744 W Lancaster Av Suite 235 Wayne, PA 19087

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 954 Ridgebrook Rd. Suite 300, Sparks MD 21152. 410-828-5400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Gear # 2018-52230 exp 1/20

PAS is a member FINRA, SIPC.

economy, income, retirement

First Steps to Retirement Planning

Many people are paralyzed into inaction when they start thinking about the challenge of planning for retirement. The truth is there are a few first steps anyone can take on their own to improve their chances for success.

A first step is to determine how much income you can expect to receive from social security. In years past SSA would mail annual statements for people to see their expected benefits. Things have changed… go to google and search for “my social security”. You will create an account and through this account be able to determine your numbers.

So what are you looking for? Depending on your age you have a variety of options that determines how much income you can draw for retirement. Standard retirement at age 66 or 67 (depending on your DOB) will provide your base amount of income. This number is based on your last top 10 earning years.

If you decide to retire early at age 62 you will receive a discounted amount, perhaps 75% of that base amount.

If you decide to retire at age 70 you will receive a larger amount during retirement, perhaps 125% of that base amount.

If you have limited or reduced retirement savings and you are in good health and able to work to age 70, it is strongly encouraged that you should wait and take social security at age 70. The additional income can provide a cushion that will allow existing savings to last longer.

People are living much longer these days and surveys repeatedly show people’s number one fear is running out of money in retirement.

If you decide to claim early social security it could negatively impact your long term financial plan. You should also be aware that social security benefits could be taxed, further reducing the retirees’ effective income. Be sure to consult a tax professional.

Taking this first step can have a major impact on your retirement planning, whether you are 45 or 65…. knowing the numbers, you can potentially increase the amount you save into retirement plans.

To learn more contact me at james_cox@devon-financial.com or connect using the form below.

 

Retirement Income. Tax Efficient Planning.
Life Insurance. Disability Insurance
Socially Responsible Investing

To learn more contact:
James Cox
Cell: 610 293 8309
Email: james_cox@devon-financial.com
Devon Financial Partners 744 W Lancaster Av Suite 235 Wayne, PA 19087

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 954 Ridgebrook Rd. Suite 300, Sparks MD 21152. 410-828-5400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Gear #2018- 52228 Exp 1/20

PAS is a member FINRA, SIPC.