Private prison stocks soared after President-elect Donald Trump promised that there would be mass deportations. NBC News’ Brian Cheung details the effect this could have on ICE and migrant families.
Say I find out my 401k is investing in this. What do I do to get out of the situation? Would I have to completely stop contributing to it (and lose employer matching) or something else?
I do have a 401k but before that I really loved investing on my own and avoiding this stuff. I wish I could have them dump the funds into my own account but obviously that’s not possible.
Say I find out my 401k is investing in this. What do I do to get out of the situation? Would I have to completely stop contributing to it (and lose employer matching) or something else?
I do have a 401k but before that I really loved investing on my own and avoiding this stuff. I wish I could have them dump the funds into my own account but obviously that’s not possible.
Good question. Pressure your employer or HR about it, they have the power to pressure the managers of the fund to divest.
Divestment has worked for large institutions; for example my university divested from some industries with bad human rights abuses.
I don’t know this for a fact, but it’s possible ESG funds would leave stocks like these out of their portfolios.