Three Cheers for Impact Investing
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Everyday investors are noticing that doing well and doing good can be as compatible as cookies and milk—especially now on this connected globe of exploding investment choices.
The financial intermediaries are starting to pay attention to this demand for impact investing, as they well should. If they aren’t prepared to meet this demand, investors will jump to advisors who will—or they may decide they can do without the middle man altogether. That could lead to misguided and unhappy results.
So Wealth Magazine sends three cheers to the creators of the Impact Investing conference (Colorado Convention Center, July 21, 2013) and other similar events that are giving fuel and momentum to a profound trend.
At this event, attendees “learn how to market and sell a new breed of investment product that provides double-barrel returns, and they’ll see the world-changing results that ensue. From billionaires to Main Street investors, impact investing interest is big.”
Events like this are giving platform to heroes in this space, people such as Philippe Cousteau (yes, that’s Jacque’s grandson), the creator of GlobalECHO Foundation to support a hospital in the DRC, and funded from a new Global Echo ETF (NYSE: GIVE).
The trend is undeniable. Should we be surprised? It’s simple logic: If I can make just as much money investing in children’s well-being as I can from Acme Widget Company, what will I do?
Do you see other examples of doing well and doing good in our world? Let us know, and Wealth Magazine will give them three cheers too.
Saving Face(book) With Advertisers
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WEALTH Magazine Staff
With social connections all the rage, a perpetual question is now coming to a head in the public square: Do Facebook ads really work? And for that matter, do ads really work on any social media destination? GM’s Joel Ewanick said its paid ads on Facebook haven’t done much for car sales. Now Facebook is on the offensive with GM and other skeptics, saying that advertising definitely does work.
Who is correct? More likely is that both sides are correct…and incorrect. Traditional advertising–with its old-school methods, expectations and metrics– doesn’t work well on Facebook and other social channels. But using Facebook to sell products–well that’s a different thing altogether. It takes a much different approach that will challenge any legacy company that grew up decades ago.
But GM seems to be on the right path, seeking new content-driven approaches on Facebook and beyond. Let’s hope that–in support of radical openness (view recent TED talks)–GM and Facebook keep their tussle and journey in the public eye. It will be good for PR, good for their businesses, and good for the rest of us too.
How Open Are You Willing to Be?
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WEALTH Magazine Staff
Radical openness was the hot topic at TED 2012 in Edinburgh, Scotland recently. TED is qualified to serve up this theme, as they built a global media powerhouse by giving away their content, brand, methods and formats.
TED speaker Don Tapscott spoke of four principles in a radically open world: transparency, collaboration, sharing and empowerment. All of these leading beyond networked information and knowledge, to networked intelligence, where some of the world’s greatest problems could be solved.
Has your company given radical openness a chance? Have you given it a chance yourself? Or is it just too scary?
Job Security: Are You as Safe as You Think?
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WEALTH Magazine Staff
Do you think you are playing it safe by staying in your job? It is high time to rethink that, even if you are a star player. Here’s why: Corporate loyalty is at an all-time low. The pace of change in nearly every industry is at an all-time high. Young and agile upstarts around the globe are killing their older and bigger competitors faster than David killed Goliath.
Taking this mindset has never been more critical: You are the president of your own company. And if You Inc. is getting all income from one client (such as your employer)–that can be a very risky place right now. This doesn’t mean you quit work tomorrow, but at least do this: Challenge your notion that staying where you are is the safest thing to do. All of us should be preparing for our next move.
Today’s world is favoring people who are reaching inside, grabbing their dreams and ideas and courage, seizing the power of a digital and connected world, and taking wing.
Tama Kieves, the author of “Inspired and Unstoppable,” said it best: Wild, amazing, visionary people are the new safe.
Jump in…. the water is fine.
Equal Pay Motion Defeated: Your Thoughts?
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WEALTH Magazine Staff
It’s hard to believe, but right now–in 2012–women get paid 30 percent less than men for the same exact job. A bill to fight that discrimination was defeated in Congress this week, falling 8 votes short of the 60 needed. Not a single Republican voted for the bill.
Republicans said the bill would make trial lawyers rich, but would cost employers plenty while doing very little to solve the problem. Democrats say the bill would simply close loopholes in the 1963 Equal Pay Act–the very loopholes that have allowed the discrimination to continue all these decades since.
What are your thoughts? Should this bill pass? What’s the alternative? How can unequal pay still exist in the United States? Leave your comments here or on our Facebook or Twitter channel.
Live the Life You Have Imagined
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WEALTH Magazine Staff
As you charge into another week, remember the words of Henry Thoreau: “Live the life you have imagined.” This may need to start as a date with your imagination, where you vividly see yourself living your dream. As you live in that place, you will carry yourself differently. You will speak different words.
Experts have said that gaining wealth and success is 80 percent psychological. Have you been working on the 80 percent lately?
Listen to Music, Boost Your Bank Account
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WEALTH Magazine Staff
So you love to listen to music on road trips, working out, and bedtime? That music may be doing more than just entertaining you. A new book titled Your Playlist Can Change Your Life (by Joseph Cardillo, Don DuRousseau and Galina Mindlin) gives you science-driven reasons to pick up that iPod more often and be more intentional about what music you choose.
But can it help you make more money? The reasonable answer is yes, since music can organize your brain, sharpen your memory, and boost your creativity. It can help you fight stress and depression, without the side effects of drugs.This book will explain the science and show you how to build a few powerful playlists.
You may already know the power of music. Tell us about your music– what motivates you the most, what speaks about your potential, or what helps you power through an obstacle. One of the new power songs on my list is “Titanium” by David Guetta and Sia.
Beware of Shady Tax Preparers
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WEALTH Magazine Staff
It’s the time of year when Americans scramble to pull together their documents for tax preparation, and more than half will entrust personal information to a tax preparer. Some of them are rushing to hire a new tax preparer, and sadly, they don’t take time to do their homework and make a good choice.
The IRS is warning against tax preparers who charge too much for services, make empty promises about large refunds, or take a percentage of the refunds due as a fee.
One safeguard: When you hire a tax preparer, make sure they have a Preparer Tax Identification Number (PTIN), and that they include the number and signature on your return. Then make sure they give you a copy of the return.
And remember: Just because you hire a tax preparer doesn’t mean you are off the hook if false information is on your return.
One more thing: Identify theft is rampant around tax time, as scammers steal information through e-mail, phone calls, websites, and even texts or social media sites. If you believe someone stole your personal information for tax purposes, call the IRS Identity Protection Specialized Unit at 1-800-908-4490.
Learning Lessons From Overnight Star Jeremy Lin
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WEALTH Magazine Staff
Everybody is talking about overnight NBA superstar Jeremy Lin, who not too long ago was cut from Golden State and Houston before being picked up by the New York Knicks off waivers in December. Lin is being praised for his patience and his ability to reset when something doesn’t work. Even though Lin is still known to frequently turn the ball over, he never dwells on the error. “He is very humble and plays extremely hard no matter if he makes a mistake or makes a fantastic play,” said Jason Kidd of the Dallas Mavericks to The New York Times this week, after losing to Lin and the Knicks. Another opponent called Lin “a feisty little thing.”
For anybody in the February doldrums, Lin’s remarkable story proves again that (1) bad times can quickly turn to good; (2) something can click in our heads that can make all the difference; and (3) favorable change doesn’t require that we first must overcome all our shortcomings. Great lessons for anybody seeking a turnaround for a better career, higher sales, or more satisfying return on investments.
Luxury Brands Celebrate a Banner Year
By
WEALTH Magazine Staff
In the past year, and even before that, the world’s rich have been getting richer. This is especially true in places such as China and Brazil, along with other countries in Latin America and Asia.
This has led to blockbuster results for certain luxury brands in the U.S. and Europe, as consumers are snapping up multi-thousand-dollar watches, designer clothing and handbags faster than they can be manufactured.
At the same time, these same thriving countries are developing a taste for the little luxuries of the West. For example, ketchup. H.J. Heinz beat Wall Street’s forecasts, mostly because of strong sales of ketchup and other sauces in China, Latin America, Russia and India.
The growth trend in these markets shows no end in sight, which bodes well for global expansion of American products, regardless of price. There’s good reason to believe that American luxury brands will continue to enjoy strong results if they are working to gain traction in these markets.