7e8f47 No.26602
I’ve been playing with the Acorns investment app and might still keep it, but will use it to generate income to throw into Halal investing. I didn’t know about Wahed until today. It seems to be like a halal version of Acorns, minimum investment is $100. I’m halfway through setting up my account.
Anyway I suggest having a 401k or IRA before playing with ETF’s. Many investment houses now have halal 401k and IRA portfolios.
Anyone into halal investing?
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7e8f47 No.26603
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Ustadh Yasir Qadhi became one of their religious advisors in November 2017.
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c72c41 No.26647
Some Non-muslims are trying to larp a kind of Psuedo-Sharia investing into existence. Last year a bunch of their ETF’s were forced to shutdown.
>The four shuttered funds, which will stop trading July 15, are:
>FaithShares Baptist Values Fund (NYSEArca: FZB)
>FaithShares Catholic Values Fund (NYSEArca: FCV)
>FaithShares Lutheran Values Fund (NYSEArca: FKL)
>FaithShares Methodist Values Fund (NYSEArca: FMV)
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5682d6 No.26864
Great customer service but bummer: they dont have a setup for deposits with my credit union yet……. bummer. I dont want to change my bank or open a new bank account just to get the Sharia Roth.
Wealthsimple has a halal index fund.
https://www.wealthsimple.com/en-us/halal-investing/
Pic not related
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5682d6 No.27232
I have a question about Islamic finance.
If I keep a savings for a year in dollars and that currency is debased due to inflation by avg 3% yearly then shouldn’t I be able to take up to 3% interest from a bank for that year? Because inflation is really just backdoor riba from the federal reserve and what the bank would pay me (in a money market account) would be mititgating that.
If the currency inflates 3% then I think taking more than 3% in a contract is riba. But wouldn’t taking 3 or less percent from the bank actually be a reduction in riba?
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5682d6 No.27233
>>27232
My local imam says he’s not qualified to answer that as there is disagreement.
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fd56de No.27237
>>27233
Sorry, akhi, but I have no idea either. Finance is one of those things that I've spent my life saying, "Well, I really hope I did that right." because I have no idea what I'm doing outside of balancing my checkbook. To me, accountancy may as well be wizardry for all I know about it.
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49a79f No.27238
Thanks for the reply tho bro ^
Anyone invest here? I am now in a Shariah compliant index fund with Wealthsimple, use Acorns, and I invest in crowdfunded fractional real estate with Fundrise. You have to be careful because Fundrise has a haram option to but people’s mortgage debt and take the riba - but they have a halal option where you can buy equity in buildings and take a corresponding % of the tenant’s rent.
Im pretty new to investing, I suggest the podcast Investing From The Beach to listen to more experienced people.
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49a79f No.27257
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Altright faggots are crying about the Shariah Roth IRA I have.
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35f32e No.27258
>>27257
>Altright faggots are crying
Well, there's no shock there. They literally cry about everything.
Anyway, thanks for introducing me to fundrise! I've been thinking about dabbling in real estate and that site is terrific. I'm looking for a good, stable way to raise money for when my kids are ready for college and that kind of investment is perfect.
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49a79f No.27259
>>27258
Cool.
And there’s a finance website called adulting.tv (associated with MoneyTree podcast) that has a $50 sign up bonus for Wealthsimple if anyone is interested.
https://adulting.tv/go/wealthsimple
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5682d6 No.27262
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5682d6 No.27263
>>27262
In 2008 the Islamic index only went down 34.7% and the regular one went down 40.3%. That's what I'm about ya'll.
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19e09b No.27265
>>27232
It would be riba. Doing riba to gain money lost from riba is still riba. It's adding sin upon sin.
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e53415 No.27410
>>27258
I am in process of withdrawing my investment from Fundrise for numerous reasons and wouldn’t recommend them any longer. For more details please ask in /asj/ finance thread.
See here for just one reason: http://www.finra.org/investors/alerts/public-non-traded-reits-careful-review
You should consider a mutual fund from Amana or Vanguard to reach your savings goals. Or a Vanguard REIT ETF if youre interested in real estate.
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