Due to the pandemic, the IRS extended the
Personal Taxes Deadline to May 17
Some of us have been vaccinated, others are waiting to do so. We are starting to glimpse the end of quarantine and isolation. This pandemic has impacted many of us, yet we still need to plan for a more sustainable, resilient, and impactful future.
Our economy is evolving, extractive industries need to innovate or be left behind, and regenerative approaches are necessary for survival of our planet and people. This tax season consider investing in portfolios positioned for our future.
Consider contributing to your Individual Retirement Account (IRA) to reduce your taxable income and allocate to higher impact, more sustainable investment strategies and portfolios up to $7000 for IRA contributions, depending on your age.
Here are our partners with HIP Investor in The Impact Community (TIC) that may serve your goals for investing and impact — available online, in an investing app, or through local financial advisors:
THE IMPACT COMMUNITY
of High-Impact Portfolio Managers
and Impactful Investment Firms
ETHO® Climate Leadership US ETF (fund ticker: ETHO)ETHO® is a leading diversified index ETF that avoids fossil fuel companies while selecting equities based primarily on full Scope 1, 2, and 3 carbon emissions and ESG alignment.
Change Finance US Fossil-Free ETF (ticker: CHGX)Change Finance operates this fossil-fuel-free diversified ETF, and actively engages companies to do better in environmental, social, and governance issues.
Nia Impact Capital invests at the intersection of social justice and environmental sustainability, including the Nia Global Solutions and the Nia Dividend Strategy, available as a separately managed account. Nia seeks firms that pursue an inclusive, just, and sustainable economy. Nia applies a gender-lens and a commitment to racial equity – and is a women-led team of activist investors.
Sonoma Private Wealth (SPW) brings personalized investment advisory services, combined with decades of expertise in investing and planning. SPW Portfolios allocate to sustainable, responsible, impactful investments – including ESG and fossil-fuel-free portfolios, the UN SDGs, dividend-yielding blue chips for income and impact, and reporting to show how impactful your investments can be.
NewDay’s impact-focused investing is aligned and benchmarked with the United Nations’ Agenda 2030 for Sustainable Development, with investment strategies pursuing fresh water, sustainable agriculture, animal welfare, climate action, ocean health, and sustainable capitalism – as well as faith-based portfolios (Catholic, Islamic, Halakhic) and good governance strategies, on the Newday app.
HIP Investor’s 130,00 Ratings of Stocks, Bonds, Munis, and Funds inform the HIP Strategies and HIP Portfolios — by allocating to leading organizations that are transparent, performance leaders, and willing to be accountable for net-positive results for people, planet and trust.
Higher Impact Portfolios can include these ESG strategies:
Why should you contribute to an IRA account?
Contributing to an IRA (Individual Retirement Account) allows an individual to save for retirement with tax-deferred growth. With HIP’s Great Place to Work strategy, or HIP’s Fossil-Fuel Free Diversified Portfolios, your investing can be allocated towards a more positive sustainable future. For IRAs, you can invest $100 and up at OpenInvest, and $1000 and up at Newday.
Saving for Your Future with an IRA
Did you contribute to your IRA previously?
Only 14% (or 1 in 7) of households contribute to an Individual Retirement Account in any given year.
Typical IRA contributors compared to non-contributors are more likely to be white, have a college education, and contribute to a 401(k) workplace retirement plan, according to a Center for Retirement Research at Boston College study
Through the OpenInvest app ($100 and up) or the Newday app ($1000 and up), it is easier for you to participate. If you can contribute, you can allocate to impact investing to potentially reduce your taxable income.
Too many American families are ill-equipped to deal with their financial needs during retirement. If younger people begin saving for retirement earlier, they can be better prepared as they approach their retirement years.
Always check with your tax expert or accountant, but here are some things to keep in mind*,
Current IRA Rules
- The annual contribution limit for Traditional IRAs for both 2020 and 2021 tax years is $6,000 (or $7,000 for those 50 and older to help catch up).
- There is an IRS penalty for withdrawals prior to age 59 1/2 with limited exceptions. Here is a link to the IRS website. (IRS)
- For example, new parents are allowed to withdraw up to $5,000 without a 10% early withdrawal penalty as long as funds are withdrawn within a year of the birth or adoption of a new child.
Invest responsibly while saving for your retirement.
- Contribute to your IRA for 2020 before May 17th, 2021, and follow up with a direct contact so you can fill out an electronic form to affirm your tax year of 2020.
- Contribute to your IRA for 2021 all year
- Open an IRA account if you don’t have one yet to invest impactfully, including HIP Strategies
- There may be additional fees if you close your IRA account.
*These are the current regulations. The IRS rules may change and you should check with your tax adviser, and learn more here. (IRS)
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Global Handbook of Impact Investing: Solving Global Problems Via Smarter Capital Markets Towards A More Sustainable Society(Wiley)
Fifty (50) authors contributed 30 chapters, co-edited by Elsa De Morais Sarmento and HIP’s CEO R. Paul Herman. Discover how to invest your capital to achieve a powerful, lasting impact on the world. The Handbook is an insightful guide to the growing world-wide movement of Impact Investing covering 30 chapters with 50 authors from capital markets and academia. Impact investors seek to realize lasting, beneficial improvements in society by allocating capital to higher impact and sustainable profit potential.
Order today, this book is a great GIFT for clients, Board members, co-workers, advisors, and friends:
Global Handbook of Impact Investing
(1300-page textbook is $49; e-book is $40)
Equality in 2021: In The HIP Investor book and methodology, the Equality Pillar is one of 5 categories necessary for investments to build a better world. By investing in companies and municipalities that are supporting equal rights and opportunity, you are owning part of the solution. And knowing what you own and the impact your investments have is not only financially more responsible, but also the right thing to do — for everyday investors, investment advisers, fund managers, 401(k) managers, and any innovator or leader today.
Read and share the HIP Investor book (text book, e-book, audio-book) today.
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HIP INVESTOR’S DISCLOSURES AND DISCLAIMERS
HIP Investor Ratings LLC — which produces 127,000 impact investment ratings and licenses them to investors, advisers, wealth managers, fund managers and retirement plans, including 401(k)s and 403(b)s — is an independent limited-liability company based in California.
HIP Investor Inc. — which manages impact-themed strategies and portfolios, and advises impact-focused investors, including endowments and foundations — is a registered investment adviser, registered in the states of California, Illinois and Washington, and serves clients in other states.
This is not an offer of securities.
Past performance is not indicative of future results.
All investing involves risk.
The views expressed by registered representatives and the investment adviser are for informational and educational purposes only, and are not investment recommendations or an offer of securities.
For a full description of services and disclosures (including fees) relating to separately managed accounts, portfolio management, and wealth management at HIP, please read HIP’s Part II of Form ADV (which can be found at http://adviserinfo.sec.gov), and on HIPinvestor.com.
All investments may lose value and risk possible loss of principal. HIP Investor Inc. or its Advisory Representatives do not provide tax advice. You should consult with your tax adviser on specific tax issues.
This newsletter should not be construed as a solicitation or offer to sell investment advisory services except where HIP Investor, Inc. is registered or where an exemption or exclusion from such registration exists.
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Source: https://www.ethicalmarkets.com/earth-day-save-for-your-future-contribute-to-your-ira-by-may-17-to-invest-in-climate-action-and-fossil-free-portfolios/