Ethics & Money Can Mix Well. Here’s How

Would you like to support a worthy cause by donating time or money to organizations that help others? Fortunately, there are many ways to do so. In addition to investing in Section 8 housing, tithing to a church, and building a socially responsible portfolio, working people also designate charities as beneficiaries of wills and life insurance policies. Here are more details for those who want to invest more ethically.

A Different Kind of Real Estate Investing

Some investors choose to seek out alternative forms for real estate investing. One way to get involved in the non-traditional real estate market is to invest in Section 8 housing, which is property within a government program for low-income tenants. The official name is the Housing Choice Voucher Program. There are pros and cons for investors and tenants based on a number of factors. Renters are screened based on several criteria, including family size, total earnings, etc. Whether you wish to invest in Section 8 housing or apply for occupancy, it’s imperative to review a comprehensive guide that explains all the details about who can rent the space and how the government operates the properties.

Building Portfolios with a Purpose

One of the newer trends in the financial world is socially conscious investing. At one time, the term referred mainly to the acquisition of assets that were environmentally friendly or supported causes like vegetarianism, non-violence, or organic foods. These days, all sides of the political and cultural spectrum are involved in the movement. That’s why you’ll see investment funds that focus not only on the environment and social justice but also areas like homeschooling, the right to bear arms, free speech, and traditional faith-based programs. Especially if you are planning for retirement ask a reputable broker about purpose-based portfolios and be ready to explain your own goals before getting started.

Planned Giving

It’s becoming more common for individuals to designate one or more charitable institutions as beneficiaries of life insurance policies, wills, and estates. It’s called planned giving for short, and the arrangement can take many forms. It is most often implemented by a trained accountant or lawyer. The newest wrinkle in the phenomenon is that donors need not be wealthy or even particularly well off. In fact, charities actively solicit planned gifts from people in all income levels. If you are interested in supporting a favorite charitable cause or organization, consider speaking with your life insurance company representative to amend the beneficiary of a policy. Consult a lawyer about adding a charity to your will and estate plan.

Tithing & Direct Deposit

Whether you choose to donate money directly to a church, faith-based organization, or charity, there are simple ways to do so that benefit both you and the recipient. Setting up a direct payroll deduction of either a fixed amount or a percentage of income is usually the simplest way to donate. Church members can tithe, which means giving 10% of pre-tax income, via a number of different banks and employer plans. The advantage of tithing or donating this way is that there are no questions when tax time comes. You’ll have full documentation of all amounts, recipients, and dates of donations.

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