9. When your company doesn't offer a socially responsible 401k

Send us Fan MailToday's letter is about getting your company to offer a socially responsible 401k. Here's the letter: My employer doesn't offer a socially responsible 401k, what should I do?In order to maximize your chances of success, I have three tips for you to consider:Buddy up, get other employees into the effort. They probably won’t add options unless you have a ton of influence at your company, but if they see that there’s a group of people that want this, you’ll have more weight. It probably won’t be hard to get some employees to get on board with you, Morgan Stanley did a report and found that 88% of survey respondents with access to 401k plans are interested in sustainable 401k options, but less than half say they are availableaccording to the Morgan Stanley Institute for Sustainable Investing report in 2019. Be patient. This will probably take a year to change.Don’t let up the pressure. Keep asking, and asking, and asking. If you have a financial advisor, you might even get their help in how to word the request in the first place.Please do stay in touch and send an update on what ends up happening at your job and any other tips you gather along the way. Good luck! To submit your letter to the show, email [email protected] support the show visit buymeacoffee.com/spenddonateSupport the show