This year, Pride is different for companies. Both brands say they continue to support the LGBTQ+ community: Bud Light on Tuesday announced a donation to the National LGBT Chamber of Commerce in support of LGBTQ+ owned small businesses, and Target has continued selling much of its Pride merchandise in stores.īut the backtracking shows that backlash and threats could create a chilling effect for companies, and leave them without a clear path forward. (BUD) released a vague statement calling for unity and Target pulled items from shelves. In both cases, the companies seemed cowed: The CEO of Bud Light owner Anheuser-Busch Right-wing commentators, politicians and others called for boycotts, and the brands’ employees were threatened with violence. (TGT)’s line of goods marketed to trans customers and allies. (TGT) and Bud Light, were targeted by right-wing media and on social platforms for relatively small LGBTQ+ initiatives: Bud Light’s Instagram partnership with a trans influencer, and a subset of Target In recent weeks, two major brands, Target But this year won’t be nearly so straightforward. Other than occasionally checking in to make sure your portfolio is still in balance, you can mostly sit back and watch the returns roll in.Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. Once you have your investments in place, congratulations. Unlike mutual funds, which can come with purchase minimums, ETFs can be purchased one share at a time, like stocks. You may also want to consider low-cost ETFs, which track the performance of broad market indexes. If you're shopping among mutual funds, start with your brokerage's list of "NTF" funds - investments that can be purchased with no transaction fee or sales charge. These all-in-one funds correspond to the year you hope to retire and hold an asset mix that grows more conservative as you age. The simplest solution for long-term investors, says Benz, is a target-date mutual fund. You can use that money to purchase any kind of investment your brokerage offers, but if this is your first time investing, focus on broadly diversifying and keeping your costs low. Once you transfer money into your account, it will be held in a so-called "sweep account" - a default low-interest cash vehicle. It's a fabulous way to instill discipline into your investing plan." Step 4: Choose and purchase your investments "I'm a huge believer in setting up automatic deposits," says Benz. Virtually every brokerage will offer a step-by-step guide on how to do this. Once you find a method that works for you, consider setting up recurring deposits. "Look for the method that will cost the least," she says. Generally, you can make a deposit by linking a bank account, ordering a wire transfer, cutting a check or transferring funds from another type of brokerage account.īrokerages usually let you make a deposit without charging a fee, but be sure to read the fine print before putting your money in, says Benz. You'll also have to figure out how to fund your account. You'll generally need to provide a form of identification, such as a driver's license or passport, and your Social Security number, along with other personal financial information. Once you decide on an account, you'll have to fill out an application. In return, your money grows tax-free, and provided you follow the rules, you can withdraw the money tax-free in retirement. Roth IRAs, conversely, are funded with money you've already paid tax on, so you don't get an upfront tax break. Contributions you make to a traditional IRA are deducted from your taxable income in the year you made the contribution, but you won't be able to withdraw the money without penalty until you're 59 ½. If you're saving for a long-term goal, such as retirement, gravitate toward an individual retirement account. "This type of account is just going to give you the most flexibility," says Benz. You'll owe taxes on any gains and dividend income your investments accrue in such an account, but crucially, there are no rules around when and how you can withdraw the money. If you have a short-term goal, such as saving for a down payment on a home, you'll likely want to open a taxable brokerage account. "A great starting point is thinking about what your goals are for the money," says Benz.
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