1. The main benefit of mutual fund investing is that the fund manager does all the research for you on the financial and the social side. The drawback is that you might not agree with every company chosen.
2. Minimum investments typically are $1,000 but may be as low as $250 for an Individual Retirement Account, where your money is not withdrawn and not taxed until retirement age.
3. You can easily get a list of socially responsible mutual funds by doing an Internet search for "socially responsible investing" or "socially responsible mutual funds."
4. Check out http://www.goodmoney.com, http://www.socialinvest.org, http://www.SocialFunds.com, and http://www.greenmoneyjournal.com/.
5. Request a "prospectus" from them. A prospectus is basically a booklet with the fund manager's philosophy on screening and investing, the fund's financial performance, and an application form. This way you can quickly determine if the fund's social priorities are compatible with yours.
6. Typically, each web site will also have financial information about the fund, so you can figure out if it is profitable enough to help you retire to the Bahamas immediately or not.
7. After you have found a mutual fund you like, you can order a prospectus online or by calling the mutual fund's 1-800 number.
8. Remember, only you know how much money you have to invest and what your tolerance for risk is.
9. Here are some of the players in the business (WARNING: This is merely a list of players, NOT an endorsement by SoYouWanna.net): http://www.calvertgroup.com, http://www.citizensfunds.com, http://www.domini.com, http://www.parnassus.com, and http://www.paxfund.com.
SoYouWanna know more? Check out our full-length article SYW be a socially responsible investor?
