• Matt Morizio

How you earn your money matters

“I know that product is harmful to people. I realize families are torn apart because of that company. I’m not saying I believe in it. Nor do I actually use it. I just make money off it. And believe me, the money is still green.”

Not for me. How I earn my money matters.

I used to own mattmorizio.com when I was a minor leaguer. In case I ever made it to the big leagues, I wanted to use that site as a platform to promote causes I believed in.

That dream fizzled, and I didn’t see the need for mattmorizio.com anymore. So, I let the domain renewal lapse.

Now I’m a wealth advisor blogging on all-things-personal finance, and if you’re on the site reading this, you visited matthewmorizio.com, not mattmorizio.com. Why?

Because apparently there are companies out there that scour the internet looking for newly-expired domains to scoop up and resell at a premium.

If you click on mattmorizio.com you’ll see it is owned by hugedomains.com and on sale for the bargain price of $800, even though I bought if for about $10 a decade ago.

There are plenty of ways to earn money, but capitalizing on human error isn’t one I want to be part of. It feels deceptive. It feels wrong.

I choose to make my money in ways that benefit the world.

That’s what baffles me about most prospective client portfolios I see. There are usually 3-6 mutual funds in them, and I have yet to meet someone who knows what companies are in the funds.

In other words, they have no idea what companies are making money for them.

And how you earn your money matters.

Most people I talk to agree with me. They care how they earn money, and they don’t want to support companies that don’t align with their values. But they never consider it in the context of investing.

That’s why I love our strategy at Beck Bode. While we don’t outwardly market ourselves as an “ESG” (Environmental, Social, Governance) investment firm, aka socially responsible investment firm, our individual stock strategy allows us to hand select the companies our clients invest in.

We have a number of clients that tell us companies/industries they do not want to make their money on, and we customize their portfolios accordingly. We aren’t the only firm out there that believes in earning money for the greater good. Eventide, for example, does a great job investing to make the world a better place.

But we are few and far between.

And how you earn your money matters.

It’s a fundamental philosophy I live by. I don’t want to support companies I don’t believe are making the world a better place, and having the flexibility to invest in individual companies allows me to select ones I stand behind.

So yes, I want excellent returns, but not at the expense of my morals and beliefs. Our strategy gives me the best of both worlds, and yours should too.

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Investment advice offered through Beck Bode, LLC, a fee-only Registered Investment Advisor in the Greater Boston area.