"Some of these companies, they just really hate us.”
August 25, 2024 1:41 PM Subscribe
I love this - they need to have money enough to live on as they age, but they use that need to continue their work in the world. How different that is than the advice article in the NYT this morning that annoyed me because it's all about how seniors can futz with their money to reduce their taxes - with the unstated assumption that paying taxes is for suckers and losers and to be avoided as much as possible if you're smart. (Like Trump, who said not paying taxes means he's...) So cheered to see these women using the financial system to carry out their values. And wow, they're so smart!!
posted by zenzenobia at 2:02 PM on August 25 [21 favorites]
posted by zenzenobia at 2:02 PM on August 25 [21 favorites]
Anti-taxers are annoying! Also, the nun's strategy is probably superior for returns too.
posted by grokus at 2:16 PM on August 25 [9 favorites]
posted by grokus at 2:16 PM on August 25 [9 favorites]
You can do it too.
(This isn't an endorsement of Calvert per se, just a note that socially responsible investing exists, you can do it, and a specific way to do so if you don't have time to look up more options right now.)
posted by amtho at 3:04 PM on August 25 [6 favorites]
(This isn't an endorsement of Calvert per se, just a note that socially responsible investing exists, you can do it, and a specific way to do so if you don't have time to look up more options right now.)
posted by amtho at 3:04 PM on August 25 [6 favorites]
How different that is than the advice article in the NYT this morning that annoyed me because it's all about how seniors can futz with their money to reduce their taxes - with the unstated assumption that paying taxes is for suckers and losers and to be avoided as much as possible if you're smart.
The NYTimes article is about people making moves with their personal savings for retirement planning and managing their money in retirement and the pros and cons. If you're not doing this planning then you are being reckless with your future. The government put those options and programs in place specifically to help you not end up destitute in retirement. Not taking advantage of them is certainly a choice you can make but you really shouldn't mistake it for a moral thing to do.
posted by srboisvert at 3:51 PM on August 25 [12 favorites]
The NYTimes article is about people making moves with their personal savings for retirement planning and managing their money in retirement and the pros and cons. If you're not doing this planning then you are being reckless with your future. The government put those options and programs in place specifically to help you not end up destitute in retirement. Not taking advantage of them is certainly a choice you can make but you really shouldn't mistake it for a moral thing to do.
posted by srboisvert at 3:51 PM on August 25 [12 favorites]
Metafilter: 80 nuns in a monastery outside Kansas City
posted by Thorzdad at 4:09 PM on August 25 [22 favorites]
posted by Thorzdad at 4:09 PM on August 25 [22 favorites]
How different that is than the advice article in the NYT this morning that annoyed me because it's all about how seniors can futz with their money to reduce their taxes - with the unstated assumption that paying taxes is for suckers and losers and to be avoided as much as possible if you're smart
Never would have imagined from the description that this would be a link to an article about navigating the mess of tax-advantaged account options explicitly offered by the government in lieu of a stronger, simpler universal safety net.
posted by atoxyl at 4:41 PM on August 25 [13 favorites]
Never would have imagined from the description that this would be a link to an article about navigating the mess of tax-advantaged account options explicitly offered by the government in lieu of a stronger, simpler universal safety net.
posted by atoxyl at 4:41 PM on August 25 [13 favorites]
One of Amy Westerveldt's podcasts "Drilled" probably, had an ESG episode that laid out both that ESGs get better returns, that ESG activisim is legal and should be normal and so of course that Reoublican Attorneys general are trying to strip shareholder's rights because they believe in nothing but ingroup power and self interest.
posted by No Climate - No Food, No Food - No Future. at 5:20 PM on August 25 [6 favorites]
posted by No Climate - No Food, No Food - No Future. at 5:20 PM on August 25 [6 favorites]
Okay, it’s probably a good idea to look for retirement funding options that will let you pay less in taxes. But so many of these articles are just so focused on keeping your money because taxes will take it from you and that’s bad. If you’re rich you have other people to do this for you, of course, and the gains are much larger. Still, it bugged me. Sorry if I misrepresented the gist of the article, it’s just what jumped out at me this morning and felt like a very different way to think about investments than what the nuns are doing.
posted by zenzenobia at 6:08 PM on August 25 [2 favorites]
posted by zenzenobia at 6:08 PM on August 25 [2 favorites]
I don't know jack about investment, so I'm going to focus on another angle of this post -
DAMN I love fiesty nuns.
posted by EmpressCallipygos at 6:33 PM on August 25 [11 favorites]
DAMN I love fiesty nuns.
posted by EmpressCallipygos at 6:33 PM on August 25 [11 favorites]
I feel a bit wary about religiously guided activist investors. Yeah, it's great when they champion environmental causes, but perhaps it wouldn't be so good if they decide to pressure hospital groups on birth control.
posted by SunSnork at 7:42 PM on August 25 [9 favorites]
posted by SunSnork at 7:42 PM on August 25 [9 favorites]
Yeah, as someone who strongly opposes the Catholic Church's positions on abortion, birth control, gay marriage, and many other things, I would be very concerned about a group of religiously-guided activists wielding substantial power through their investments. But as a group of women who seem enthusiastic about using their skills to throw sand into the gears of power on behalf of the causes I do share with them, I greatly admire what these nuns are doing and appreciate their service to our society.
posted by biogeo at 8:25 PM on August 25 [15 favorites]
posted by biogeo at 8:25 PM on August 25 [15 favorites]
You'd be surprised how many nuns have views that are for more progressive than the RC episcopate.
posted by pattern juggler at 9:04 PM on August 25 [21 favorites]
posted by pattern juggler at 9:04 PM on August 25 [21 favorites]
SunSnork: it wouldn't be so good if they decide to pressure hospital groups on birth control
This concern has been the source of a lot of heat since (2016) it was decided to move Ireland's National Maternity Hospital from central Dublin to land on the site of St Vincent's Hospital [5km SE] owned by The Sisters of Charity. It was hot because the decision was coincident with the campaign to repeal the eighth amendment to our constitution and thereby allow for pregnancy termination. The referendum on 25 May 2018 resulted in ⅓ against ⅔ for repeal. One telling of the back story. Eight years on from 2016, ground has still not been broken while 50,000+ babies have been delivered at the old site.
posted by BobTheScientist at 12:30 AM on August 26 [5 favorites]
This concern has been the source of a lot of heat since (2016) it was decided to move Ireland's National Maternity Hospital from central Dublin to land on the site of St Vincent's Hospital [5km SE] owned by The Sisters of Charity. It was hot because the decision was coincident with the campaign to repeal the eighth amendment to our constitution and thereby allow for pregnancy termination. The referendum on 25 May 2018 resulted in ⅓ against ⅔ for repeal. One telling of the back story. Eight years on from 2016, ground has still not been broken while 50,000+ babies have been delivered at the old site.
posted by BobTheScientist at 12:30 AM on August 26 [5 favorites]
SunSnork: it wouldn't be so good if they decide to pressure hospital groups on birth control
in re these particular nuns, from the article:
Their activism has often led to criticisms that they’re too liberal, that they’re all Democrats. One reason for that perception is their community is “not at the forefront of opposition to abortion,” McCracken said, though she’s clear they follow church teaching on the matter. But with so many Catholic groups leading the anti-abortion movement, they find other causes to champion.
posted by chavenet at 1:18 AM on August 26 [4 favorites]
in re these particular nuns, from the article:
Their activism has often led to criticisms that they’re too liberal, that they’re all Democrats. One reason for that perception is their community is “not at the forefront of opposition to abortion,” McCracken said, though she’s clear they follow church teaching on the matter. But with so many Catholic groups leading the anti-abortion movement, they find other causes to champion.
posted by chavenet at 1:18 AM on August 26 [4 favorites]
You can do it too.
(This isn't an endorsement of Calvert per se, just a note that socially responsible investing exists, you can do it, and a specific way to do so if you don't have time to look up more options right now.)
I just looked up "Calvert US Large-Cap Core Responsible Index ETF" and it's doing great but, looking at its list of top holdings, I don't exactly get a warm fuzzy feeling:
Apple 6.87%
Microsoft 6.07%
NVIDIA 5.84%
Alphabet Class A 3.68%
Amazon 3.32%
Eli Lilly 1.75%
Broadcom 1.61%
JPMorgan Chase 1.36%
Tesla 1.31%
UnitedHealth 1.20%
posted by paper chromatographologist at 6:01 AM on August 26 [3 favorites]
(This isn't an endorsement of Calvert per se, just a note that socially responsible investing exists, you can do it, and a specific way to do so if you don't have time to look up more options right now.)
I just looked up "Calvert US Large-Cap Core Responsible Index ETF" and it's doing great but, looking at its list of top holdings, I don't exactly get a warm fuzzy feeling:
Apple 6.87%
Microsoft 6.07%
NVIDIA 5.84%
Alphabet Class A 3.68%
Amazon 3.32%
Eli Lilly 1.75%
Broadcom 1.61%
JPMorgan Chase 1.36%
Tesla 1.31%
UnitedHealth 1.20%
posted by paper chromatographologist at 6:01 AM on August 26 [3 favorites]
Top holdings of the Vanguard ESG US ETF:
Apple, Microsoft, NVIDIA, Amazon, Meta
Top holdings of the Impact Shares NAACP Minority Empowerment ETF:
Apple, NVIDIA, Microsoft, Amazon, Meta
Top holdings of the SPRD MSCI USA Gender Diversity ETF:
NVIDIA, Apple, Microsoft, Amazon, Meta
Top holdings of the Beyond Investing US Vegan Climate ETF:
NVIDIA, Apple, Broadcom, Tesla, UnitedHealth
posted by box at 6:21 AM on August 26 [6 favorites]
Apple, Microsoft, NVIDIA, Amazon, Meta
Top holdings of the Impact Shares NAACP Minority Empowerment ETF:
Apple, NVIDIA, Microsoft, Amazon, Meta
Top holdings of the SPRD MSCI USA Gender Diversity ETF:
NVIDIA, Apple, Microsoft, Amazon, Meta
Top holdings of the Beyond Investing US Vegan Climate ETF:
NVIDIA, Apple, Broadcom, Tesla, UnitedHealth
posted by box at 6:21 AM on August 26 [6 favorites]
> The government put those options and programs in place specifically to help you not end up destitute in retirement
No, they did it to help and pensions and incentivize a massive transfer of cash to Wall Street.
Definitely take advantage of all the benefits, but we were most definitely robbed.
posted by constraint at 6:48 AM on August 26 [6 favorites]
No, they did it to help and pensions and incentivize a massive transfer of cash to Wall Street.
Definitely take advantage of all the benefits, but we were most definitely robbed.
posted by constraint at 6:48 AM on August 26 [6 favorites]
You'd be surprised how many nuns have views that are for more progressive than the RC episcopate.
Would've been nice if they'd showed up at my Catholic School.
posted by Abehammerb Lincoln at 8:12 AM on August 26 [4 favorites]
Would've been nice if they'd showed up at my Catholic School.
posted by Abehammerb Lincoln at 8:12 AM on August 26 [4 favorites]
There is a difference between investing enough in a company with policies you don’t like, with the intent of voting in shareholder meetings towards a change so they pay attention to you, and investing in companies that already meet your policy goals.
I kept exactly 1 share of TSLA in my portfolio, to vote NO where I can, in purely symbolic fashion. I don’t expect that 1 share to matter to management. An investor group with millions of shares voting their conscience will have a greater affect.
Edit for clarity
posted by funkaspuck at 11:05 AM on August 26 [1 favorite]
I kept exactly 1 share of TSLA in my portfolio, to vote NO where I can, in purely symbolic fashion. I don’t expect that 1 share to matter to management. An investor group with millions of shares voting their conscience will have a greater affect.
Edit for clarity
posted by funkaspuck at 11:05 AM on August 26 [1 favorite]
« Older “A female Bob Dylan”, he said of her | The birb's the word ... and it's your Free Thread Newer »
posted by joannemerriam at 1:51 PM on August 25 [1 favorite]