/r/50501 Mirror

677 readers

883 users here now

Mirrored /r/50501 Popular Posts

founded 1 month ago

MODERATORS

100

My 59yo MIL told her financial advisor to divest from anything related to Elon Musk (www.reddit.com)

submitted 4 days ago by FiftyFiftyOne to c/Mirror

6 comments fedilink hide all child comments

Her FA is conservative (as many are) and strongly advised her that she was making an emotional mistake. She told him that she is not interested in being a shareholder in anything that is involved with Elon Musk, and that she wishes to demonstrate to her children and grandchildren what kind of world she wants to live in. She made her FA sell off mutual funds he had chosen that include musk properties.

This is a small but financially brave act, and I know that many people, especially older people have a lot to lose in the market right now. But your dollar has huge sway. Divestment from maga affiliated tech is one of the biggest ways we can leverage our money to matter.

Is anyone else’s family talking about their market practices or divesting as well? I’m proud of her for standing her ethical ground financially.

Originally Posted By u/PM_ME_UR_SNARES At 2025-03-29 06:38:58 PM | Source

you are viewing a single comment's thread
view the rest of the comments

[–] daemonis@lemmy.world 7 points 4 days ago* (last edited 4 days ago) (4 children)

Is there a way to do this if the only stock I own is through a company provided 401K? I imagine I have less say over a company provided plan. I never even thought about doing this.

[–] Kit@lemmy.blahaj.zone 3 points 4 days ago (1 children)

Sometimes, but there's often a fee associated with picking and choosing your own investments instead of letting them handle it all.

[–] daemonis@lemmy.world 1 points 4 days ago

I’ll have to wait until Monday to call and see. It’s a small company that handles all of the 401k stuff so I’m not optimistic. Thank you for the input!

load more comments (2 replies)