Shuman is the Cofounder of Candide Group, a Registered Investment Advisor that helps families, foundations, athletes, and other cultural influencers who want their money working for social justice instead simply for big corporations and wall street.
In his book Put Your Money Where your Life Is, he suggests investing in local economy, stressing that investors need to know “where our money spends the night”. Seeking out community banks and credit unions is a good start, but Shuman tells us there are even more, less known ways to contribute to our local economy by investing in it wisely.
“If you’re interested in how to get your tax-deferred savings out of global companies you distrust and into everything else you love, you’ve picked up the right book.”
MORE ON MICHAEL SHUMAN: https://michaelhshuman.com/
In Put Your Money Where your Life Is Shuman’s expert advice dispels the myths common of do-it-yourself investments which have kept people from exploring new and more resourceful ways of investing their money. He offers a hands-on tool to get a less experienced investor started. Using Shuman’s method, our money is not just used for our own gain but also for socially responsible businesses and local projects. (By local he means in local in proximity, ownership, and control.)
Put Your Money Where your Life Is describes the 4 kinds of crowdfunding campaigns that are available to investors, going into detail about each one. Donation crowdfunding, interest-free lending to businesses. (Kiva), peer-to- peer lending and the JOBS Act of 2012. Shuman talks about the advantages of these sorts of investments.
The book also gives you all the basic information you need to open your own DIY Accounts and to start investing locally. He has teamed up with the Sustainable Economies Law Center and LIFT Economy to create a website, called The Next Egg (www.thenextegg.org), that puts all the tools needed in one place
Instead of trying to convince the reader by boasting about what he has done, and the success he has had, which he surely can boast on, Shuman begins by telling a story about his own short-sightedness which nearly drove him to bankruptcy.
In this well written, well organized book, Shuman answers questions like:
Are Local Businesses Less Profitable than Global Companies? Riskier? What’s the State of the Local Investment Marketplace? What’s Wrong with the Capital Marketplace? How Did Financial Institutions Come to Disfavor Local Business? And more.
Put Your Money Where your Life Is is professionally written and holds interest as well as being informative. The format is clear, with bullet points, charts, and a summary at the end of each chapter. What’s best is that with this knowledge, the reader can step away from the mainstream system and put their investments in projects that are meaningful to them.
Written by Dianne Gardner, posted by Garth Thomas