These days, people leave jobs and move on to new ones all the time. Chances are, you’ve made at least a few jumps yourself. You’re probably quite familiar with the process of getting your new company email, joining their health insurance plan and deciding which employer-sponsored retirement program to contribute to.
But what happened to the 401k you started at your last company?
Don’t worry, it’s still there, doing its thing. But where your hard-earned (and employer-matched) money is invested might not be to your liking.
Finding your old retirement accounts can be tricky.
If you don’t know where your old 401k account is, you’re going to have to do some digging. Usually, you will receive a statement at least quarterly, and this will typically have login information that you can use for your account. You can also check your former company’s website and they may have details about how the employee 401k program works and how to log in to your account. If all else fails, you can also contact the HR department directly.
Once you find your orphaned 401k, it’s not recommended to just leave the money where it is. For starters, some plans charge higher fees for managing the accounts of former employees. In general, the more accounts you have, the more management fees you pay. There’s also the possibility you could forget that you have the account altogether and lose the money (literally).
You will be better off keeping your retirement accounts in one place. It’s just easier to keep track that way. Investors have two options when they leave a company. They can roll their assets into an IRA or they can roll their assets into their next employer’s 401k plan. The benefit to moving into an IRA is that you’re likely to have more investment options than what’s available in your next employer’s 401k plan.
An IRA, or Individual Retirement Account, is best understood as a savings account—but one specifically designed for retirement. Mutual funds, stocks and bonds can easily be held in an IRA. Many, actually most, of our clients have retirement accounts. Many of those accounts are IRAs that were once old 401ks.
Invested Interests can help you gather your orphaned 401k accounts into one IRA that supports social impact companies. Check out our Portfolios HERE and will be in touch.
On Sunday, July 14, 2019, President Trump made a comment via Twitter that “Progressive’ Democrat Congresswomen” should “go back” to their own countries. The tweet was largely interpreted as referring to four Democratic congresswomen of color: Reps. Ilhan Omar of Minnesota, Alexandria Ocasio-Cortez of New York, Rashida Tlaib of Michigan and Ayanna Pressley of Massachusetts. These women are all US citizens and three out of the four were born in the US.
Reported in the New York Times, The House of Representatives voted to condemn Trump’s comment about the four congresswomen as racist.
Democrat Representative John Lewis even commented “I know racism when I see it, I know racism when I feel it, and at the highest level of government, there’s no room for racism.”
Discrimination based on race is something that has been a reality in this country for centuries, and centuries later, we’re still living it on a daily basis.
You might think that there’s nothing you can do in response to Trump’s comment or discrimination in the US, but as investors, there is a clear and impactful way for us to act: We can divest from companies that have a history of discrimination and invest in companies that are doing everything to fight racial injustice and promote human rights, diversity, and inclusion.
Here at Invested Interests, we can build a personalized portfolio for you with mutual funds that support diversity initiatives.
Click HERE to learn more about our Diversity & Equality portfolio.
The use and abuse of opioids in the United States is not something new. It started during and after the Civil War, when injured soldiers were given morphine for their pains, and consequently got addicted. During the late 1800s and early 1900s, heroin was legal and often used to treat coughs. It wasn’t until1924 that heroin was banned, but people still managed to get their hands on it.
One of the reasons why the misuse of opioids painkillers started in the early 1990s was because of a single paragraph printed on the New England Journal of Medicine in 1980 saying that painkillers opioids were not addictive. In the following years, pharmaceutical companies (such as Purdue Pharma) took this opportunity to market their new opioid painkillers. Doctors were encouraged by pain specialists to prescribe opioids to their patients in large amounts.
In the early 2000s, the problem got worse when the medical practice standards changed. Doctors were only supposed to give opioids painkillers for patients that had gone through surgery or were close to dying, but with the change, they were required to prescribe opioid painkillers for chronic pain as well, which led to even more opioid prescriptions.
Today, millions of Americans are addicted to opioids, like Vicodin, oxycodone, hydrocodone, fentanyl (which is legal and prescribed by doctors) and heroin (which is illegal). The death toll is six times higher today than in 1999.
The opioid crisis has turned into a public health issue, with more than 70,200 deaths just in 2017 alone, with an average of 130 people dying of opioid overdose daily. Americans represent about five percent of the world’s population, and they consume about eighty percent of the world’s opioids! This epidemic is affecting millions of Americans, and it’s time we all do something about it.
Purdue Pharma is being sued by almost every US state for downplaying the addiction risk of opioids and promoting its opioids painkillers to make millions of dollars. Big pharma companies like Johnson & Johnson, Allergan, and Teva Pharmaceutical Industries among others are also being sued.
It’s easy to see the opioid epidemic as a problem of others and not our own and turn our heads to the other side. We need to take into account the human dimension of the crisis and recognize that this is about all of us. By divesting our investments from big pharmaceutical companies, we’re telling them that we’re not okay with this epidemic and that we’re taking a stand for change. We’re taking a stand for human rights.
Learn more about our Human Rights portfolios HERE.
June is Pride month. It has been a long fight, and we’re still fighting. A fight for equality. A fight for acceptance.
Even with all the progress made, LGBTQ+ individuals still face discrimination in the workplace. To support companies that have embraced diversity is another way to support LGBTQ+ rights. Accenture, Google, IBM, IKEA Group, Microsoft, PayPal are some of the companies that have gone above and beyond supporting LGBTQ+ rights.
This month, people all over the world are celebrating the LGBTQ+ community. For decades, LGBTQ+ individuals have been fighting for equal rights, dignity, and the freedom to live and love openly. We have had some wins and some setbacks, but through it all, there is hope.
Given landmark wins and growing acceptance of LGBTQ+ people in recent decades, it can be easy to forget the oppression suffered during the 50s and 60s in the United States. To be gay or trans during those times was often perceived as an illness that could be cured through methods like psychiatric institutionalization or electroshock therapy.
Since then, LGBTQ+ people have had some major legislative and equality achievements including:
1958 – The Supreme Court of the United States acted on behalf of the LGBTQ+ community’s side for the first time. They sided with “One” (the first gay magazine in the U.S.) against the US Postal Service, for refusing to deliver the magazine.
1961 – Illinois became the first state to make homosexuality legal.
1969 – The rise of Stonewall and gays rights movement.
1973 – The American Psychiatric Association finally removed homosexuality from its mental disorder list.
1982 – Wisconsin became the first state to prohibit discrimination based on sexual orientation.
2003 – Massachusetts became the first state to make gay marriage legal.
2016 – President Obama and his administration announced it will end the ban on transgender people serving openly in the military, once implemented by Bill Clinton (the “Don’t Ask Don’t Tell Policy”).
There’s been some great progress in the LGBTQ+ community over the years. The most recent one being the 2018 midterm elections when a record number of LGBTQ+ candidates won their races. But there have also been some setbacks. The Trump administration finalized a law that will allow health care workers to deny care if it goes against their religious and moral beliefs, which will most certainly affect the LGBTQ+ community. Meanwhile, President Trump’s ban on transgender military members announced in 2017 could go into effect, a huge setback for the LGBTQ+ community fight for equality.
For decades, LGBTQ+ people and supporters have been working together to make sure the community have equal rights, and there’s still more work to be done. LGBTQ+ communities and their allies continue to build awareness around the struggle for dignity and the freedom to live and love openly.
Invest in companies that fight for human rights and that support gender and racial diversity initiatives.