[Investing] Do You Own Gun Stocks In Your 401 (k) And Don’t Know It? Snoop Dogg Has Been Worried About This For Years And Shared His Concerns With Stacey Tisdale

Tens of Millions of Americans Invest Trillions in Gun Stocks through retirement and mutual fund accounts

By Stacey Tisdale

As the nation mourns The Texas Massacre, the second deadliest school shooting on record, the topic of gun control has returned to center stage.

While politicians argue and debate how big a role the stunningly wealthy gun lobby plays in U.S. gun laws, many people are unaware of the role they play in the power and wealth of gun companies.

By some estimates, mutual funds, 401(k)’s, and exchange-traded funds, (ETFs) pour trillions of investor dollars into gun companies, including gun manufacturers, American Outdoor Brands, parent of gunmaker Smith & Wesson, and Sturm, Ruger & Co. 

With polls showing that many Americans support gun control, some investors may not be happy to find out that they are fattening the profits of these firms, and ultimately the gun lobby.

[Click Here to Learn How Your Attitude About Race Affects Your Wallet]

Snoop Dogg UnLoads

Several years ago, the legendary Snoop Dogg joined forces with an anti-gun violence campaign called #ImUnloading. It was part of a project called “Unload Your 401k,” done in partnership with “Campaign to Unload,” “States United to Prevent Gun Violence,” and “No Guns Allowed.”

“My goal is to encourage people to “Unload their 401(k)s to save lives and make our communities safer,” Snoop told me.

While the campaign no longer exists, Snoop's words echo strongly in these challenging times.

“I’m tired of seeing our communities and loved ones die from senseless gun violence. The “No Guns Allowed” campaign was inspired by an open letter written by the Executive Director of the League of Young Voters thanking me for my single “No Guns Allowed,” said Snoop.

“The song spoke about the issues of gun violence in our communities and emphasized how we need to come together to spread the peace. It’s important as entertainers to lift up our voices to create change.”

Snoop On Stocks

As a financial journalist (and Snoop fan), I was very interested in the icon’s emphasis on the importance that the communities most affected by gun violence be aware of the impact of their dollars.

“Gun violence isn’t just an issue that affects people with 401Ks. Even if you don’t have a 401K, it’s still important to know where your money is going. We all can do our part to help stop gun violence,” said Snoop.

“My advice is if you’re going to invest, you should check with your employer or financial adviser to see where your investments are going. You should also urge your employers to offer a “no guns allowed 401K option.”

Conscious Investing 

To avoid financial stress, our financial choices should reflect our highest goals and values.

Nerdwallet has a good guide to help you find ‘socially conscious’ investments and funds that best reflect what you care about.  Investing apps like Stash are making it easier than ever to invest in line with your conscience.

When it comes to exposure to gun stocks, the shareholder advocacy group, As You Sow has tools that allow you to check which investments are held in your funds in many areas such as gun and weapon-free funds, prison free funds, and funds that are focused on gender equality.

From The Great Resignation to the infamous Game Stop stock market swing, one thing we’ve learned over the past year is that collectively, ‘we the people’ have the power to make change through our choices and our dollars.