Just read interesting article by Business Reporter Vanessa Lu in The Toronto Star: Goodby quick buck, hello slow money. It's a movement that urges investment in local projects.
With stock markets tanking and the chance of making a quick buck fading, a new style of investing may soon take hold: Slow Money.
The idea comes out of the slow food movement, in which people stop and enjoy what they put in their mouths and respect how food is produced.
Instead of plowing savings into Bay St, people can invest in projects or local farms they believe in. It could be small loans to help a local farmer or to open a new store in town.
"At it's core, it's moving from a world where we give our money to people we don't know to invest in things they don't understand halfway around the world," said Slow Money founder, Woody Tasch.
The article goes on, but it made me stop and think: I have no idea what happens to my monthly contribution I make to my RRSP, where it goes or who it helps. I would much rather know that I was investing in something I believed in and that I could see, smell and touch.