Shownotes
Changes to 401(k)s are coming in 2025!
In this episode of the Queer Money Podcast, hosts David and John talk with LGBTQ+ financial advisor Jake Skelhorn about significant 401k changes coming in 2025. They highlight five key changes, including updated catch-up contribution limits for those aged 50 and above, mandated Roth catch-up contributions for high income earners in 2026, and automatic 401k enrollments. Jake also explains the Secure Act 2.0’s rules on inherited IRAs and the implications for the LGBTQ+ community. They delve into strategies for investing in retirement accounts and the potential benefits for younger and late-start savers in making the most out of these new rules.
Topics Covered:
- 00:00 Introduction to 401k Changes in 2025
- 00:15 Meet Jake Skelhorn: LGBTQ+ Financial Advisor
- 03:39 Catch-Up Contributions Explained
- 05:26 Investment Strategies for Near-Retirees
- 07:55 Changes for High-Income Earners
- 17:57 Automatic Enrollment in 401ks
- 22:07 Inherited IRA Changes
- 26:57 Conclusion and Final Thoughts
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