Women’s Personal Finance Wednesdays – Week 58
1. Why Development Economics Matters Elementum Money
For starters, if you aren’t familiar with the term, “Development Economics is the discipline of understanding means of employing policy and intervention in the most efficient manner for poverty alleviation and making the world a more equal place.“
For those of us who are immersed in the Personal Finance space, very little ends up being focused on the broader implications of financial policy at the macro level. While this is clearly a big, tough thing to tackle, I would argue that it’s something that we should be better versed about. Considering we spend so much time talking and thinking about how we can make our lives better individually – especially in terms of finances – it only makes sense to look outward at the bigger picture and how the poorest in our planet are impacted and work through a world in which they are at a disadvantage.
2. Be a Green Investor with Socially Responsible Investing Financial Mechanic
It probably comes as no surprise that I invest in Socially Responsible Funds myself (specifically both Vanguard ESGs that she mentions). I have to admit though, I haven’t done nearly as detailed of an analysis as Jessica’s done here, but it’s definitely convinced me that I will be sticking to this path in the future. Of course, I’m also lucky in that I am able to also invest locally in green development projects, which I know firsthand the reality of their sustainable nature.
Clearly, there is still plenty wrong with ESGs, especially considering the massive global companies they still invest in, but they are definitely a step ahead of a general broad based index fund. If you want to get more specific and look at individual companies, that will obviously take more legwork, but if you’re interested in Socially Responsible funds, this post is a great place to start.
3. My Money Background All Options Considered
This is a long post – be prepared – but such a good one. Ali recounts her money story starting with her early years and the impacts the adults in her life had on her up through today. Reading through it, I’m not surprised that she was able to make the leap into early retirement when she did, even if that wasn’t a lifetime goal of hers.
What I took away most from this post was the importance of positive figures early in life (even if they aren’t your parents), and the impact of watching people you love lose out on the long retirement they hoped and dreamed of. I feel like I know Ali a bit better now, and I feel honored that she felt open enough to share her story with all of us online.