Kyle D. Dennehy

One of the top financial concerns within the LGBTQIA+ community is retirement*, and the first step to determining when you can retire is figuring out whether you have enough funds to last the duration of your retirement period.

Unfortunately, there is a significant confidence gap in whether LGBTQIA+ community members have enough to retire, and this uncertainty can lead to stress and anxiety.

Shrinking this confidence gap can be as simple as sitting down with a financial advisor when looking at your budget, laying out a plan to reach your goals, and determining what investments are right for you. Take the first step in shrinking your confidence gap, and speak with a financial advisor today!

*Prudential, “The LGBT Financial Experience”, 2017.

As a former intern myself, I cannot recommend this program enough. At a California Financial Advisors summer internship, you will get unparalleled, on-the-job experience working with Partners and Advisors, developing your leadership skills, and gaining foundational knowledge of the profession. If the world of finance, investments, or financial planning have ever been an interest, do not miss out on this amazing opportunity! Apply today!

Time to apply for our summer internships. Come join our team!
Apply here: https://www.calfinad.com/careers

The Secure 2.0 Act affects many facets of retirement planning, including how much money you are allowed to contribute to your plans each year. Beginning in 2023, 401(k), 403(b), most 457 plans, and the government’s Thrift Savings plan all had contribution limits increased from $20,500 to $22,500 annually. If you are over age 50, you can contribute an additional $7,500 each year without penalties.

IRAs and Roth IRAs saw annual contribution limits increase as well from $6,000 to $6,500 starting in 2023. However, Roth IRAs have income limits that may affect certain individuals. Saving more earlier could mean retiring earlier and/or having a more fulfilling retirement. Meet with your financial advisor to find out how these changes affect your financial plan and how to take advantage of all the new provisions of the Secure 2.0 Act.

To my amazing clients, loving family & dear friends,

May your holiday season be merry, and may your new year be joyful and prosperous! Happiest of holidays to you, and cheers to 2023!

From,
Kyle D. Dennehy
Financial Planning Executive, California Financial Advisors