Imagine you're a contestant on a hot new game show that's replaced "Who Wants to Be a Millionaire" in the ratings. There's never a wrong answer, but you'll be judged--by others and yourself--on which answer you give. The winner is the one who can best balance the consequences of their choices and then weigh them against the decisions of the judges.
You'd have 30 seconds to answer three questions:
- Is it more important to invest in companies that produce double-digit returns every year or to invest in ones that manufacture products you approve of?
- Do you live to work or work to live?
- If you had $5,000 to spend on one thing, would you choose to invest it in your family or an investment guaranteed to triple its value in 10 months?
Do you ever get the feeling that your financial life is a game show you just can't win? Either you pay down your debt or you save for your kid's college. Your investments can make beaucoup bucks but you'll be supporting the tobacco industry or child labor or defense spending or the list goes on.
Our topic on Dollars and Sense doesn't attempt to solve all the financial dilemmas you're facing, but it may help you answer some tough questions about what impact your values have on financial decisions. We've got some suggestions about where you can look to find investments that are more aligned with your values. Much like that game show, there are no wrong answers, so just keep playing. You may already be a winner!