The concept of ‘social investing’ is not new. We have seen many versions of this over the years, starting with what was also called ‘ethical’ investing, where people chose not to invest in companies that sold tobacco or other such products.
Dennis Jaffee and Josh Cohen look at social investing from a different perspective. They know that often children growing up in affluent families face unique challenges. One of these is creating a personal identity of their own. How could they possibly ever ‘outsize’ the achievements of the prior generations.
In this article, Dennis and Josh introduce the concept of getting young adults involved with investing some of the family wealth in order to have a social impact the young adult feels passionate about.
I often have discussions with people about how best to engage their children with their philanthropy while also helping to launch them into the real world. The approach of investing with a social impact may be appropriate for some of you.