As we approach July 4th, I've begun thinking about financial moves that are patriotic and profitable. Buying municipal and federal bonds - even savings bonds - is a lay up. Of course, the "Buy American" movement is also on the table, but that didn't turn out too well for GM and Chrysler (among other issues).
I recently saw an exhibit at the Museum of American Finance displaying WWII war bonds with Disney characters on them. Not only could you support the war effort and get paid for it, you could do it under the watchful eye of Sleepy and Sneezy.
A recent post at the Business Insider - http://www.businessinsider.com/buying-american-2009-6 - on how to make "Buy American" cool got me thinking, what types of money moves might we make for patriotic reasons that are either profitable or foolish?
I'm starting to get back to savings bonds as baby/child gifts...sometimes they feel a little cold as gifts, but when it comes down to it, they're relatively easy to go get, and they're a simple way to help friends' kids be more prepared for college. I don't think it makes a great patriotic difference or a big dent in college savings. But it's a little bit of both...and it can't hurt...
I'm not sure I would buy stocks just for being American - http://www.nasdaq.com/investing/Load-Up-on-These-All-American.aspx - but it does make for a fun little story, Louis.
Paying your taxes on time is an obvious patriotic money move. You avoid paying the fines that come with late tax payments - Uncle Sam gets to put your cash to use.
I just found this piece related to patriotic investing that is kind of interesting. Curious if others agree with it or not:
Not patriotic investing, but a good patriotic money move just showed up on Saving with Shellie: Old Navy will sell flag t-shirts for $1 on July 3. While there's no financial return on the dollar investment, it's a great bargain if you're look for affordable patriotic wear for the long weekend!
http://www.savingwithshellie.com/2009/07/01/1-flag-tees-at-old-navy/
I am all for being patriotic, but not at the expense of being a protectionist. "Buy American" campaigns and national or local pride is the least of my concerns when buying stocks, bonds, or even consumer goods for that matter. I am a capitalist, first and foremost, and I want the best return, least amount of risk, and lowest cost regardless of origin.
Here, here...Hank. I'm with you 100%.
Here's my view on patriotic investing: having your investments perform well enough so that you can celebrate July 4th in style.
