moral investing: response to: is there a catholic fin. advisor out there?

scrimenti · #1 Jun 24, '08, 9:07 pm

i saw a request to chat with an adviser. i am catholic and
do faith based investing for clients. i look forward to any questions.

God Bless

mh2007 · #2 Jul 3, '08, 6:58 pm

Faith based investing sounds interesting. Does this involve mutual funds investing in stocks of companies who are socially and morally responsible?

scrimenti · #3 Jul 4, '08, 8:37 am

yes. not all faith based mutual funds "screen" companies the same way ie. some are more restrictive and have more guidelines the companies need to adhere to.

tommypain · #4 Jul 15, '08, 10:39 pm

As a Catholic Financial Planner, I too can help. Check out www.catholic-investing.com

scrimenti · #5 Jul 16, '08, 7:36 am

yes i am a catholic adviser

Wynn · #6 Jul 16, '08, 10:14 am

I am about to transfer my 401k to UBS into a retirement account called GenWorth. Any advise?

Wynn · #7 Jul 16, '08, 10:36 am

Should I wait until I recoup my huge loses in the last month?

scrimenti · #8 Jul 16, '08, 12:38 pm

what you are assuming is that the market is going to come back in the near future. nobody can accurately predict that occurrence.

i would take a look at my long term and short term goals and assess when i need income from these assets and structure a program to address the amount and timing of these distributions.

also, how much money have you made on your investments?
if you have done well over the past few years you may want to create and investment plan that reduces risk, but at the same time has exposure to long term growth.

Wynn · #9 Jul 16, '08, 6:35 pm

I am assuming the market will bounce back with restrictions lifted to drill off shore and in the Rockies, etc. The market ended up today. The price of oil came down. This is likely to be a trend. Even Fannie and Freddie May are buoyed up by the government buying their debt. I need distributions in the next year or two. I understand the risks and gambles - what would you do?

mh2007 · #10 Jul 16, '08, 7:19 pm

Wynn wrote: I need distributions in the next year or two. I understand the risks and gambles - what would you do?

You might enjoy reading two books:

Buckets of Money by Ray Lucia
The Number by Lee Eisenberg

Ray Lucia outlines a strategy for investing in 3 different timeframes he refers to as buckets.

The Number provides an approach to defining how much $ you need to llive on in the future.

Wynn · #11 Jul 17, '08, 1:46 pm

GenWorth is my original inquiry. It earns 6.89% (or more) and pays 22,000 for life if you don't take distributions in the first four years. It is a spend down product which contiues to pay a minimum of 22,000 per year even after the principle is used up. It is offered to all GE employees and now for the first time to the public. It is only part of the portfolio. Have you heard anything negative about it? My decision is only days away.

dotcomrefugee · #12 Jul 18, '08, 12:41 pm

Quote:

Originally Posted by mh2007

Faith based investing sounds interesting. Does this involve mutual funds investing in stocks of companies who are socially and morally responsible?

ElizabethPH · #13 Jul 18, '08, 1:20 pm

Quote:

Originally Posted by scrimenti

i saw a request to chat with an adviser. i am catholic and
do faith based investing for clients. i look forward to any questions.

God Bless

I've just did a cash surrender of an annuity, I'm under 591/2 ..would I pay the 10% fed fine on the capital gain only not the whole investment amount is this correct? Sorry if this is a stupid question.

scrimenti · #14 Jul 18, '08, 6:44 pm

Quote:

Originally Posted by dotcomrefugee

yes. some mutual funds are more stringent in company selection than others. some address pornography and abortion while others follow the u.s. catholic bishops' guidelines which are more comprehensive ie. contraceptives, employee discrimination, pollution, payday lending, alcohol/tobacco,gambling, employee safety and health, etc...

faith based investing is relatively still in its early stages. i think you simultaneously build a solid portfolio and have mutual funds that invest in companies that are consistent with church teachings.

as an advisor, i also need to evaluate how these mutual fund companies perform. in other words, are these funds positioned to make a profit for my client? if not, they would not be a reccommended investment.

God bless,

please contact me if you have any questions.

dotcomrefugee · #15 Jul 18, '08, 7:43 pm

Quote:

Originally Posted by scrimenti

yes. some mutual funds are more stringent in company selection than others. some address pornography and abortion while others follow the u.s. catholic bishops' guidelines which are more comprehensive ie. contraceptives, employee discrimination, pollution, payday lending, alcohol/tobacco,gambling, employee safety and health, etc...

faith based investing is relatively still in its early stages. i think you simultaneously build a solid portfolio and have mutual funds that invest in companies that are consistent with church teachings.

as an advisor, i also need to evaluate how these mutual fund companies perform. in other words, are these funds positioned to make a profit for my client? if not, they would not be a reccommended investment.

God bless,

please contact me if you have any questions.

There was a man named Abraham Kenard who did something like that, and he got arrested for FRAUD.

I don't think you can look it up; it was on CNBC though.