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1.Can I use Acorns to invest in socially responsible companies and funds?[Original Blog]
Yes, you can use Acorns to invest in socially responsible companies and funds. Acorns is a micro-investing app that allows users to invest spare change from everyday purchases into a diversified portfolio of stocks and bonds. While Acorns does not offer specific socially responsible investment (SRI) funds, there are several ways you can incorporate socially responsible investing principles into your Acorns portfolio.
Here are some options to consider:
1. SRI ETFs: Exchange-traded funds (ETFs) are investment funds that trade on stock exchanges. There are several SRI-focused ETFs available in the market that you can include in your Acorns portfolio. These ETFs typically track an index composed of socially responsible companies. Examples of SRI ETFs include the iShares MSCI KLD 400 Social ETF and the SPDR SSGA Gender Diversity Index ETF.
2. Divest from specific industries: Another way to invest in socially responsible companies through Acorns is by choosing to divest from specific industries that may not align with your values. Acorns allows you to customize your portfolio by excluding certain sectors such as fossil fuels, tobacco, or firearms. By excluding companies from these industries, you can ensure that your investments are more aligned with your personal values.
3. Impact investing: Acorns also offers an option called "Found Money" where you can earn cash back on purchases from certain retailers. Consider supporting companies that have a positive social or environmental impact when making your purchases. For example, you may choose to shop at retailers that prioritize fair trade, organic or sustainable practices.
4. research and due diligence: If you are interested in investing in socially responsible companies, it is important to do your research and due diligence. Look for companies that have strong environmental, social, and governance (ESG) practices. Acorns provides resources and educational material to help you make informed investment decisions.
5. Stay informed: The field of socially responsible investing is constantly evolving, and new investment opportunities are emerging. Stay informed about the latest trends and developments in the SRI space. Acorns provides educational content and market insights that can help you stay up-to-date with the latest information.
It's important to note that while Acorns provides options for investing in socially responsible companies, the level of social impact may vary depending on the specific investments you choose. It's always a good idea to consult with a financial advisor or do your own research to ensure that your investments align with your values and goals.
In conclusion, Acorns provides several options for investing in socially responsible companies and funds. By incorporating SRI ETFs, divesting from specific industries, engaging in impact investing, conducting research, and staying informed, you can create a portfolio that aligns with your values and makes a positive social or environmental impact.
Can I use Acorns to invest in socially responsible companies and funds - Ultimate FAQ:Acorns, What, How, Why, When