WedbushCares 2023: A Year of Impact, Empowerment, and Community Engagement
As we reflect on the year that was, WedbushCares takes pride in the meaningful contributions made to support, educate, and sustain our communities. In 2023, our corporate giving program embarked on a journey marked by diverse charitable activities, embodying the spirit of compassion and social responsibility. Join us as we revisit the highlights that shaped our year and reinforced our commitment to making a positive impact. Scholastic Book Fairs: Nurturing a Love for Learning WedbushCares hosted Scholastic Book Fairs at Para Los Ninos-Gratts Primary Center in Los Angeles, Kozminski Community Academy in Chicago, and Thomas Warren Field School in Bushwick, Brooklyn. Through these colleague volunteer events, over 3,000 free books were donated to students and teachers which aimed to nurture a love for learning and literacy, showcasing our dedication to educational empowerment. NAMI Partnership: Match Sponsor for Mental Health Awareness Month In May, WedbushCares proudly partnered with the National Alliance on Mental Illness (NAMI) as a match sponsor for Mental Health Awareness Month. This collaboration underscored our commitment to mental well-being, contributing to NAMI’s efforts in raising awareness, combating stigma, and supporting mental health education and advocacy. National Volunteer Week: A Week of Giving Back April brought National Volunteer Week, featuring Wedbush Trading Commission Day, where 100% of net proceeds from brokerage commissions across all business lines were donated. Additionally, a Family Promise volunteer event saw Los Angeles colleagues preparing Welcome Home Kits for families in need. Family Promise: Gold Sponsor for Family Promise’s GivingDay In April, WedbushCares proudly sponsored Family Promise’s Giving Day, a 24-hour online campaign supporting families experiencing homelessness across America. As Gold Sponsors, we engaged the community, providing vital resources to uplift vulnerable families during these critical times. Our commitment to impactful initiatives remains strong, ensuring a more compassionate and supportive world for those in need. World Central Kitchen for Maui Wildfire Relief: Dollar-for-Dollar Match Campaign In response to the Maui wildfires, WedbushCares initiated a dollar-for-dollar single match campaign in partnership with World Central Kitchen. This collaboration allowed us to provide crucial support to those affected by the disaster, showcasing our commitment to responding urgently to humanitarian, climate, and community crises. Habitat for Humanity of Metro Denver: Building Homes and Brighter Futures Colleagues from our Denver, CO office joined hands with Habitat for Humanity for a day of service, shutting down operations to help build homes for eight hard-working families. This partnership goes beyond collaboration; it’s a commitment to building stronger communities and brighter futures, embodying the essence of social responsibility. Susan G. Komen Walk and Fundraiser: 19 Years of Dedication Each October, WedbushCares dedicates time to increase cancer awareness and raise funds to combat the lethal disease. This year marked our 19th year of fundraising for the Susan G. Komen Foundation, a cause initiated and championed by our colleague, Virginia Planellas. The breast cancer awareness walks in Los Angeles and Denver united people to remember loved ones, honor survivors, and support breast cancer research, education, and patient support programs. Covenant House: Active Engagement in Los Angeles and Chicago WedbushCares reaffirmed its commitment to addressing youth homelessness through a continued partnership with Covenant House in Los Angeles and Chicago. Los Angeles colleagues, including Karl Pettijohn, Adam Pettijohn, and Shivan Somaratne, played a pivotal role in this year’s fundraising efforts and actively participated in Covenant House’s annual sleep out. Bob Fitzsimmons serves on the charity’s Illinois board and led a local donation campaign drive, further amplifying our impact. GivingTuesday: A Double Boost to College Donations WedbushCares supported GivingTuesday by double-matching college donations to causes that inspire them. This initiative not only amplified the impact of individual contributions but also demonstrated our commitment to fostering a culture of giving and philanthropy within our community. Rapunzl Partnership: Empowering Future Investors at HBCUs Through our new core partner, Rapunzl, Wedbush is kicking off the school year by investing in the next generation of leaders. This initiative focuses on educating and inspiring students from Historically Black Colleges and Universities (HBCUs) about the importance of taking charge of their personal finances and pursuing careers in financial services. This strategic partnership emphasizes Wedbush’s commitment to empowering young minds and fostering a generation of informed and inspired investors. Community Impact Grants: Colleague-Driven Change Enabling colleagues to apply for funding supporting local volunteer events or fundraisers, WedbushCares initiated Community Impact Grants. Aligned with the mission to support, educate, and sustain communities, these grants facilitated notable projects such as Metro Denver’s Habitat for Humanity collaboration, TRIO Senior Recognition Day at Mt. San Jacinto College focusing on financial literacy and scholarships, and support for Penny Lane’s Summer Carnival benefiting youth and families. Deed Platform: Enhancing Community Engagement The WedbushCares team also introduced Deed, our new community engagement platform. This user-friendly platform not only automates processes like matching gift requests but also enables individuals to explore and sign up for local volunteer activities. Deed makes participating in employee resource group initiatives even easier, which empowers colleagues to enhance their social impact and make a difference in their communities. As we wrap up WedbushCares’ 2023 journey, we’re thrilled about the positive impact we’ve made. With joy and anticipation, we look forward to building on our efforts, giving back, and making an even greater difference in the year ahead. Here’s to more meaningful moments and positive change in 2024!
401(k) Max Contributions in 2024
As we step into 2024, it’s essential to be in the know about financial changes affecting retirement planning. One key area to pay attention to is the adjustments to 401(k) maximum contributions. Let’s explore the significant updates for both employees and employers. Key Changes for 2024: Employee Contribution Limits: The maximum employee contribution limit for 2024 has increased to $23,000 for those under 50. Employer & Employee Combined: The total annual limit for combined employee and employer contributions has been raised to $69,000. Catch-Up Contributions: Employees aged 50 and older are eligible for an additional $7,500 in catch-up contributions. Visit the IRS website for an official list of 2024 changes. Implications: Increased Savings Opportunity: Employees can take advantage of higher contribution limits to boost their retirement savings significantly. Tax Advantages: The new limits offer enhanced opportunities for tax savings through tax-deferred contributions. The 2024 adjustments to 401(k) maximum contributions provide a valuable opportunity for individuals and employers to enhance retirement planning strategies. Staying informed and leveraging these changes can pave the way for a more secure financial future. Want more information on retirement planning and 401(k) contributions? Reached out to a Wedbush financial advisor in your area, here.