Late Capitalism, "Ethical" Investing, And Building Wealth In A Broken System
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- Опубликовано: 4 окт 2024
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Chelsea and Simran Kaur from Girls That Invest discuss ethical investing, starting from nothing, and how to build wealth and live by your values under capitalism.
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Hi TFD and viewers. This morning I made the very last payment on a personal loan (original principal of $6,500), and I just really want someone to be proud of me so I'm telling this comment section.
Way to go! That's awesome! :D
Fabulous! Well done! Bow using the same economies -start investing!
Congrats 🎉
Congratulations!!!
Amazing job! It is such a burden lifted and you should absolutely proud of it.
In terms of ethical funds or ESG funds, I think that label is about as sketchy as the organic label on foods. Sure the companies did something to earn it, but there are many loopholes. Be careful out there.
This was the video, plus learning about the Boglehead method mentioned within, were the education that finally convinced me to stop worrying about every detail and messing up my entire retirement account, and just jump in and buy some S&P500 + Extended market index fund shares. Thanks ladies, this is a big load off my mind... No more depreciating cash!
I do wish the conversation went deeper into the ethical implications of investing, instead of kind of skirting around the subject with a tone of mild shame. As we keep pushing for the end of this broken system, can we, for example, invest in employee-owned companies? Ethical solar and wind turbine suppliers? Bonds from countries with good long-term energy policies? Even companies that will grow as we take on the climate resilience problem? So much to learn.
Agreed! Good questions
Really enjoyed this episode! As someone that recently started working full time and is a big believer in climate justice, I've been thinking a lot about the dilemma of wanting/needing to invest but not wanting to support unethical and unsustainable businesses. To be honest, I can't help but feel a little skeptical of those ethical/sustainable funds and whether their holdings are the real deal or just good at greenwashing. I would really love to see a more in depth video about the options that exist to ethically save for the future!
Or if anyone else has any resources they could point me towards, I would really appreciate it!
I don't have direct resources, just experience in the field specifically working with sustainability data for a sustainable investment startup. Most of it, unfortunately, is smoke and mirrors. There's basically no way to invest ethically, just the least unethically. Do the best you can and don't sweat it. Past a certain point, we are regrettably out of control of the exploitation corporations commit to reach their end goal.
This ^^ I hope TFD covers this (if they haven't already!)
Thank you for talking about this. I have searched for videos and haven't seen much, although general education and discussion around investing has increased and I've learned a lot in the last year, I've gotten really concerned about holdings like Boeing and other big businesses ultimately funding deaths in Gaza.
I'm trying to be nuanced because I believe there is no ethical consumption over capitialism, and want to gain more stability myself. BUT I think there is something I can do or rather things I can avoid. I'd love if either of you know of and do a video on holdings you'd recommend avoiding ethically. Thank you again!
"Our accounting methods have trouble handing a company that's headed by a working professional instead of a useless do-nothing oligarch parasite."
Woahh
Had this on my watch list for a couple weeks but only got around to watching now. Excellent discussion! Especially loved the wrangling over ethical investing and anything where bogleheads are mentioned is a wonderful place to be for an investing talk. Thank you! 😃
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Kudos to you both for not giving into greed as business owners. You're part of the reason there's a shift in attitudes towards gross CEO salaries. Do these people really add the value of 100x or more employees? Something like 10x your lowest paid employee would fix a lot about capitalism.
It's nice to see South Asian representation on TFD!
Lots of nuance in this conversation and it's so great! With women still being primary care givers in most cases, giving money to us with no direction may not make a lasting change simply due to those care-giving norms. We expend so much energy trying to meet the needs of today, the needs of tomorrow may not take as much priority as they should.
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I loved this episode: I found it really interesting how Europe was, somehow, part of the discussion. However, I would like to know if you consider the idea to do an episode about the European market in depth. I would love to invest and, recently, I started to follow The Financial Diet with growing interest, but I find myself frustrated sometimes because I don't know how or if the European market and the US one are different and such. Will you ever consider the idea? Thank you.
I think it's as Chelsea lived few years in France and is married think to a Frenchman so she often brings it up
Just get a European index fund
@@cdo...49283 Ehm... what does it mean? T_T"
I recommend ‘A Doll’s House’ by Henrik Ibsen. It’s relevant even in this economy.
Yes! This book is so haunting. Worth the read.
Chelsea says that no one forces you to keep wealth once you have it, but the average person makes unethical choices with what little power they have over others lower in the hierarchy. I don't doubt this would be amplified by them joining the owner class. The only truly ethical solution is to abolish the economic system that incentivizes maintaining this hierarchy. You're free to do what you want to look out for yourself, but don't call it ethical.
Moral absolutism?
there still has to be some actual plan for doing that, which is difficult to do when you have no understanding of finances. One of the reasons real estate lobbyists always win over working people attending the same city hall meetings is because the lobbyists have social and financial power over their local governments. The whole point of unions and worker cooperatives is to shift some of that power to us, but yes there does still need to be an understanding of how finance currently works. understanding the enemy and how to careful work around them. All just different ways of seeing the same goals, but yeah
@@labor_mel The current finance system is core to the capitalist political economy. No attempt to replace that political economy via the finance system has ever succeeded, there is little reason to think it could, and every successful replacement has made it a priority to radically re-organise the financial system.
Preach
Communism failed and see why. Hierarchies in civilization have always existed and will. Wanna have an egalitarian society? Then go back to living in a hunter-gather society
Aah TFD is so close to 1 million subs! Crazy to think I’ve been watching since early on
Simran is so cool and a great speaker. I'd love to hear more from her. The question of retirement is a bit scary to me, tbh. I'm college-educated, financially savvy, and have a good career in a meaningful field. As an American, I don't think I will retire here. I'm currently looking into doing my master's in the EU in order to pay less & only study for one year instead of two. I'd rather pay $50,000 in combined living expenses and tuition and only lose out on one year of salary than pay $100,000 and lose two. I bring that up to say that life in America is needlessly expenses in many ways. Consumer goods are cheap, but life's necessities cost a lot, and for that reason I believe I'll retire in a more affordable country in Latin America or southern Europe.
Chelsea I LOVE the questions you ask in this series. You always ask such excellent questions
My wife offered me to take manage the money despite her making 90% of the money. This gives me more to think about regarding that.
TFD and the Girls Who Invest team are doing such great work teaching financial literacy and helping to take the stress out of investing. It is valuable beyond measure!
What a fantastic episode with super relevant discussions. I particularly enjoyed the bit about not making decisions for others because you think you know best. I would love a little more nuanced discussion about this in the future. My lifestyle requires my family to move to different countries where culture relating money is so different than my own. We often employ locals for household services, childcare, etc. Finding the balance between my own family’s financial goals, social obligation and personal vs. professional relationships is a real art.
That concept of building on what the previous generation taught you is really beautiful, actually. Hopefully, her generation can now take their investment skills and create something for the next generation to build on, in turn.
As someone who has been wanting to invest in the railroad…and the recent Norfolk Southern situation, this was super relevant and something I super struggle with.
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Fᴏʀ ᴄᴏɴsᴜʟᴛᴀᴛɪᴏɴ ᴀɴᴅ Gᴜɪᴅᴇʟɪɴᴇs ᴍᴇssᴀɢᴇ
ᴏɴ WʜᴀᴛsAᴘᴘ💬
Been looking for an episode about this, thank you!
Back when I started investing for the kiddo I was putting in $100 per month or so and the fees made it not make sense to buy anything. So I'd just deposit cash for a few months until I could buy $300+ worth of shares. Eventually the fees went away thanks to Robinhood and it's easier to just buy stock as the money goes in.
The biggest thing is not investing "all the money in the world." Slowly build up so you can see growth and then when you have a large amount of money in there, the bigger swings aren't going to freak you out as much or at all.
And don't waste your live working for companies that make excuses not to pay you. You need the cash flow to invest and that means valuing your time and talents properly and finding companies that will pay you accordingly.
'Zed"? Same as in Canada, we're full of culture too. Dealing with inequality as a moral person sometimes gets you accused of being a "commie" Socialism is not anti-buiness or anti free enterprise, it's just a matter of being fair. Any large European country would be a good example. (Ikea? Yeah, there's a pack of Swedish "Commies", eh?) The shareholders' as primary priority and companies as "persons" have both ruined the American society; it's amazing there're so many ethical buisness in the US. (And get Health Care through taxes like the rest of the developed world.) Capitalism needs rules/laws, by couragous politicians.
Cheers from the Pacific West Coast of Canada.
This conversation shares a lot of lessons that are very important to apply on our lives!
I like this discussion but it did not touch enough about "ethical" investing. It's almost impossible to build wealth by investing in companies that you deem are ethical when they don't do well. That's why a lot of private equity groups and public pensions invest in "evil" companies because they get the returns. Even Blackrock, as evil as they are, own a lot of tech stocks, which comprise of many top total market index funds (Vanguard, Fidelity, etc.). It's easy to say you want to invest ethically but would you take that gamble for your financial future?
that’s what i thought, not sure what the conclusion was
Yes, because I decided differently in the past and it still hurts me today.
It is indeed incredibly difficult to make the ethical choice (financial/ investment wise) and accompanied by feelings of anxiety and loss.
But at the same time at least for me it compares in no way to the agony which I felt in the past after doing what people told me I should (for personal gain) rather than, what I knew was right.
Feels like nostalgia when I wrapped up in my delusions of green capitalism.
This is amazing! I'm currently working on living below my means so I can save some money and become truly financially free. Thank you so much, this was so informative AND inspiring.
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As an accountant, I will say the issue with valuations and executive salaries works both ways. If an executive is overpaying themselves it will be added back in the valuation process. The idea is that you are determining what you would have to pay to a third party to do the job.
the guest i didn't know i needed!! great discussion, definitely of my favourite eps to date
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Fᴏʀ ᴄᴏɴsᴜʟᴛᴀᴛɪᴏɴ ᴀɴᴅ Gᴜɪᴅᴇʟɪɴᴇs ᴍᴇssᴀɢᴇ
ᴏɴ WʜᴀᴛsAᴘᴘ💬
Two of my faves! Simran described the first gen financial experience so beautifully, I never thought about it that way although it definitely describes how I feel.
This inspired me to take action and reinvest in an ESG. Thanks
"I live a fantastic life, I don't need more money" - Can we please make this the norm? THIS is the CEO's we need. Even NONPROFITS pay CEO's way too much!
It's her age that makes her not know the Unibomber not her being from New Zealand.
yes yes to 20:00. this is very much what i dont know how to do. ethical investing. would love to hear more about this. get more guidance on this.
I guess i didn’t hear B Corps mentioned when talking about good business praxis
This was s7ch an informative and enlightening conversation. Thank you 😊
*such
I understand your point regarding the salary adjustment for the TFD valuation, however, it does make sense from an investor perspective. You (as a person) is not an asset per accounting/finance standards, because TFD doesn't "own" you, and TFD could end up having to continue doing business without you. So if you were to leave TFD (or be unable to work), they would have to replace you. In order to do so, they would have to offer a decent enough salary (i.e. whatever you "should" make per what your functions require and the value that you add to TFD). If that were to happen, they would have an additional expense, lower net profit, which does impact negatively the company's value.
I am a very "leftist" almost CPA, and even I think this adjustment is valid, it doesn't have anything to do with our view of what our view of a fair wage would be for an executive.
I see what you mean, but it's not as if Chelsea pays herself peanuts. Last time I heard her mention it, she takes $90,000/year and it may have gone up since then. Much less than the typical CEO but not chump change. Maybe if they found someone else, they might bump it up a bit but Chelsea made it seem like the investors wanted her to be taking in way more than she is now, which does play into the view that executives need to be paid exorbitant amounts of cash.
fantastic episode! thank you so much
Omg Chelsea!!! Newish fan here. Been listening a bit these days. Just discovered you recently. I have to say. I LOVE the way you talk about that shit!!! Paying yourself a bit less than other CEOs pay themselves??? That is crazy!!! That is literally one of my questions about... life in general. The way people look at you when you suggest something that seems common sense to you. But others look at you like it's completely out of the box, and the system will crumble if we even dare take the time consider this outrageous idea.
Tʜᴀɴᴋs ғᴏʀ ᴛʜᴇ ғᴇᴇᴅʙᴀᴄᴋ
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ᴏɴ WʜᴀᴛsAᴘᴘ💬
"an off grid cabin situation" Chelsea js hilarious
I can't believe NZ only had super since 15 years ago, AU has had them since the 90s!
Thanks Nora! The VPN tip is totally new to me, will try it iut
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ᴏɴ WʜᴀᴛsAᴘᴘ💬
"It is ethical to invest in the stock market if you do good with the money that you get from it"...
I am not here to tell what is ethical or what is not but this statement is a clear philosophical fallacy, of the kind "the end justifies the means".
Almost 1 million subscribers 🎉
Thanks for this topic!
i need more people to hear this
Love your content all the way from New Zealand!!
not to be super negative, but sooo many recent personal finance books recently start with money mindset..
I'm loving Ellevest ☺️
Is there any way for individuals to invest in TFD?
Take their classes and attend their events!
Hit that Join button!
Another incredible video 🤩🤩🤩🤩🤩
Been with a few brokerages and I like Schwab. Their accounting is exceptional (that’s been a problem), and I want to talk to someone, unlike what she’s saying. They provide that service both call in and meeting with a financial advisor who won’t recommend stocks, but help advise you in other financial ways, all at no extra charge. I feel safe with them too as it should be noted that brokerage accounts are not insured, you can lose it all if the institution collapses. Can’t wait to read her book, girls that invest. Good going!
Every human lived off grid until a few hundred years ago. None of them were eco-terrorists! And plenty of terrorists live totally on-grid. Correlation is not causation. The una-bomber had other issues that made him what he was.
you have zero idea about ANY of the theory behind "no ethical consumption". you've basically said that investing is okay because you can do good with the money. not only does the end not justify the means but saying that an entity you invested in that funds super PACs will be equaled out because you became a millionaire able to give a couple thousand dollars a year to a single organization is the stupidest thing i may have ever heard. the math doesn't math. that's not how change works. and none of this actually talked about ethical investing-generally thought of as investing in areas that are helping with climate change, sustainability, animal rights etc. There was literally nothing.
Success seems to be connected with action. Successful people keep moving. They make Mistake but they don’t quit... As the economic crisis keep rising, we literally need to have different streams of income. The crypto market has plenty opportunities to earn a decent Payouts with the right skills and proper Understanding of how the market works.
Yeah you're absolutely right..... Lots of people are still making massive profits from the stock and crypto market, all you really need is some relevant information and some professional advice. It is totally inappropriate for investors to stand by as they take dips during significant market diclinism
@@natashamirian1974 A good investment requires experience and knowledge to carry out a successful operation. Professionally, it is recommended to trade with experienced brokers, who can help you increase your profits while helping you learn the trade
Well I invest with a top trader Investor Ashton Edwards you might have heard of him.. I can correctly say he's the best top trader in the world, an investment advisor as his diversification skills are great, I say this because i see that in his results as my portfolio grows by averages of 25% to 35% on a weekly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what he place and not just on some particular industries of my choosing. He gave me that financial freedom I needed
@@natashamirian1974 Honestly I really need help with learning how to trade. Seeing my portfolio low makes me very sad. Please do you mind sharing any means of reaching out to him easily?
@@filippeabreu4984 Just type Investor Ashton Edwards, look his name up on the internet. You will find everything you need to know about him, you could leave him a message on his personal webpage
Investing in Stocks/Forex/crypto is very cool with the current rise in the market now
Most especially Investing with a
professional trader like Mrs Olivera Jane khumalo
Wow I'm just shock someone mentioned expert mrs Olivera I thought I'm the only one trading with her, she helped me recover what I lost trying to trading myself
Well, this's not my first time of seeing
her name on the social platform
I think she is extremely brilliant and
lucrative at same time
I invested $4000 with expert Mrs Olivera Jane khumalo and I made huge profit of $70000 just in 7 days
Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy I have been earning $60,000 returns from my $12,000 investment every 14days.
Good to know. I dealt with crypto last year on Robinhood, tried some index but didn't take it out so I lost it by the end. Any consistent strategies, anyone please?
@@steventhebro1809 Consistently investing with proper guidance in quality dividend paying companies is a relatively easy strategy to create wealth. Well I copy trades from daily signals of Mr Frederick Joseph of financial education
He's is also my personal trader, crypto analyst and account manager. With an initial invested capital of €8000, it yielded returns of over €42000 within two weeks of trading. I was really impressed by the profit Actualized.
Hey, I invested largely on stock market last year, tried some index but my experience doesn't pay me. I have lost so much trading by myself Please is there any handle or link can get to him?
Trading with Frederick's strategy is nothing new to me, I opened a trading at $5K, and l've been able to scale to $28K in two weeks.
Awesome video and I thank you for breaking it down!! Despite the economic recession, I'm so happy I'm able to earn $83,000 returns from my $25,000 investment on my short period trade.
That's nice, on what platform did you invest in please? I would appreciate if you show or introduce me on how to go about it
Well I operate with an investment professional Mr Frederick, so far l've made huge profits, I highly recommend his services/Platform. Can't disclose much.
That's awesome, I dealt with Cry po last year on Robinhood, tried some index but didn't take it out so I lost it by the end, Any consistent strategies
He's also my personal trader, crypto analyst and account manager, with an initial invested capital of $8,000, it yielded returns of over $43,000 within two weeks of trading. I was really impressed by the profit Actualized.
Trading with Frederick strategy is nothing new to me, I opened a trading at $5k, and l've been able to scale $28k in two weeks.
She sounds like Jacinda Ardern
Hi Simran! I appreciate that you’re probably trying to be inclusive, but in saying “men and people who identify as men” you’ve actually stated that those are two different categories. What it does is imply that you believe I am not a man at all, but since I identify that way, you’re lumping me in with other men, not because you think I actually am one. This can end up adding to harm, since “people who identify as __” is a phrase often used by people who also other us in much nastier ways, and are emphasizing that they think were wrong.
I think women are more influential in their family investments than this video acknowledges. We women will suggest an investment and have a discussion even though the husband executes the order or places the position.
Sometimes that is the case, but if it always goes through a man then it's not really the woman's call. He has to basically know and approve the request - the woman doesn't have access in that situation. Access is freedom.
Bye 😂
Love this topic, thank you so much for discussing!
Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy have been earning $ 60,000 returns from my $7,000 investment every 10days..
Despite the economic downturn, you scammers are out here doing your best to rob people of their hard earned money! I hope the channel deletes this comment op.