I hope that you are still enjoying this beautiful summer eve!
I continue to receive many emails and social media questions about the financial considerations of starting a business. You should know by now that I strongly believe (and the data continues to support) that business ownership is a powerful way to create wealth, and thus I’m super pumped that you keep raising these questions.
Well, this Friday, July 28th you can catch me at the Fear Paradox Summit in Chicago giving all the advice you need to get over the money fears of starting a business. I am on a panel talking about “Startup Death Valley: Fears of Financing.” And, because you are part of the Charisse Says community, you will receive a discount using my special code – “CHARISSE50.” Check out these details for more info. The conference is targeted toward women, but I know the guys will be getting some pointers too. Either way, you can follow my updates and takeaways on Twitter @CharisseSays.
Now, I hope you are also having a fearless attitude in light of the news this week. Here are some standouts as they relate to your money:
- ‘Robo’ Advisers Betterment, Wealthfront Get In on Socially Responsible Investing. Over the last month, two major roboadvisors – Betterment and Wealthfront – have announced plans to allow people like you and me to invest in companies that matter to us through ETFs and individual stocks. The term “social responsible investing” can be a catch-all for investing in all things with a social bent or an avoidance of investments in companies al that do not meet certain social criteria (e.g. treat their workers humanly or environmentally friendly).
Many of you have asked for ways to put your money into things that you believe in, and I urge you to think about the strategies purported by these roboadvisors. Constructing your portfolio in this manner takes a fearless attitude. Let me know if you have already made these types of decisions in your portfolio.
- Michael Kors is Buying Jimmy Choo for $1.2 billion. Wow! I’ve never purchased any Jimmy Choo shoes, but I’ve lived vicariously through Carrie Bradshaw’s Choo fetish in “Sex in the City.” And, I’ve even tried a pair on in the store – oooh.
The stock, on the other hand, has had its ups and downs over the last 5 years, reaching as high as $97 in the beginning of 2014 to as low as $32 over the last 12 months. I think the reality is that luxury good companies like Kors are struggling to grow, particularly amidst a cut-throat e-commerce environment. As the New York Times reports, this deal comes just months after Coach’s announcement to buy Kate Spade for $2.4 billion. What’s your take on Kors as a long-term investment with this acquisition? Do you fear what’s happening to the retail industry and its effect on your portfolio?
Well, you have a chance to set yourself free by overcoming any fears you have about your money and investment situation. Whether you find an investment approach that matches what’s meaningful to you, or you continue to find opportunities (like the Michael Kors deal) that address changes in the industry, keep on taking action.