How to use your money to affect political change
Voting is arguably still the most powerful tool to effect political change in the United States. What's less commonly known and arguably equally powerful is money. Where you spend your money and how you invest can have a serious impact on which political party will hold the country’s reins. By being mindful of where you shop and how you invest, you can help end the political stalemate. Here are a few suggestions.
To generalize, the political right is backed by conglomerates in oil & gas, mining, savings & loan, defense, big-pharma, construction, and insurance while the left’s supporters include finance, legal, and environmental organizations^1. Although it’s not always obvious which companies have the most political bias, there are ways to screen for this as you make investment decisions for your environmental, social, and governance (ESG) portfolio. By limiting your investment exposure to companies that meet your social governance criteria, you can make your voice heard.^2
Where you spend money and which companies you support have a direct impact on the profitability of that organization and therefore their viability as a political donor. Be mindful of your shopping habits and where you make your large purchases. And although you may not own a Hybrid, oil consumption remains a leading supporter to an industry well known to back a conservative agenda. The startup, Progressive Shopper, can be installed on your browser and will screen for the company’s political associations as you make your purchase decisions online. Before you shop, screen for the prospective company’s social responsibility standards just as you would when making an investment decision. As Fox News demonstrably threatens the rise of a new civil war in America, your first action is to stop supporting and write to their advertisers. Many of these companies you may already be doing business with, which may be enough for you to re-evaluate your relationships.^3
At Eureka Wealth Management, I believe your investments should be in alignment with your values while mitigating risk and optimizing for performance. I also do retirement planning, insurance, tax, and estate strategies. Call for a free, initial consultation at (760) 537-0791 or online at eurekawealthmanagement.com.
^1 Top contributors: https://www.opensecrets.org/overview/partisans.php
^2 Top ESG companies: https://www.sustainalytics.com/global-sustainability-leaders-index/