Joney Talks!

Social Capital: The Most Resilient Form of Capital

In today’s episode, we will speak to my friend Laura Oldanie from Rich and Resilient Living.

Laura is a wealth coach, but not your ordinary one,…she is a socially conscious wealth coach. She helps her clients with investment decisions that have positive impacts on their financial bottom line but as well that offer positive impacts (or returns) on people and our planet.

Laura will explain these concepts in detail and we will explore how we can impact the people in our communities, our planet, and our profits by making relatively small switches in our financial habits.

This holistic way of looking at investing was a bit new to me but as you will listen to our conversation it will all make sense 😀!

Listen here:

…or listen on Apple Podcasts

This episode is for you if you want to manage your finances and reach financial independence with a more conscious and sustainable approach.

Key Takeaways:

• You can build wealth outside of “Wall Street”.
  • SRI (Socially Responsible Investing) and ESG (Environmental Social and Governance) funds produce comparable returns to conventional investing options.
  • You already know about financial capital, but social capital is crucial as well and the foundation of our society.
• Investing more consciously means taking a broader look at return: In addition to your financial return, you can reduce the negative impact on the planet and improve a community’s quality of life. The Triple Bottom Line is an accounting framework focusing on People, Planet, and Profit.
• Alternative investment examples:
  • American Homeowner Preservation: It helps to keep people in their home —> Financial return and People return.
  • FarmTogether: Environmental sustainable practices, people benefit from healthy food and a less degraded planet, and investors can reap financial benefits —> People, planet, and profit.
• Money management 
  • Spending: What are you buying and where? Do you really need it? What is the impact of your purchase on people & the planet? How can you reduce consumption?
  • B corporation: Companies that are certified to have observed the triple bottom line. You can buy their products with minor changes in your habits and wallet (Ben & Jerry’s, The Body Shop, Alpro, Illy coffee, etc)
  • Your money is not sleeping in your bank account (“Money Never Sleeps”), you can also put your money at socially responsible banks.
  • Investing: 
    • Practice shareholder advocacy to voice your opinion on company decisions. Reach out to your mutual fund manager.
    • SRI and ESG fund 
• Is social capital the most resilient form of capital?

Who is Laura?

Laura Oldanie is a socially conscious wealth coach, who blogs at RichandResilientLiving.com, where she explores money and lifestyle choices for a regenerative future. Her goal is to help people achieve financial freedom and live their best lives in socially and environmentally conscious ways that equally value people, planet, and profit. She received her Permaculture Design Certificate in 2009 and has been exploring how to earn, spend, invest, and manage her money to bring about the change she wants to see in the world ever since.

RESOURCES 

• Website: Rich & Resilient Living
• Instagram: @rich_resilient
• Facebook: @RichResilient 
• B Corporations: Certified B Corporations
• Socially Responsible banks:
  • Mighty Deposits
  • Global Alliance For Banking on Values
• Shareholder Advocacy:
  • As You Sow (US)
  • Shareaction (UK)
  • European Responsible Investing Network (EU)
• Book recommendation: Braiding Sweetgrass
• Best purchase under 100 dollars: A purchase you actually do not need to make! A piece of nature (from your own garden 😅) that you could use as decoration?

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