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- Alumna Entrepreneur Shapes Financial Landscapes Outside the Norm
Rianka Dorsainvil ’09 helps equip young professionals with the tools and knowledge needed to secure their financial futures. Rianka Dorsainvil ’09 exemplifies Virginia Tech's motto, Ut Prosim (That I May Serve), showcasing the impact of financial education and early financial planning. By equipping young professionals with the tools and knowledge needed to secure their financial futures, she is paving the way for a generation of empowered and financially savvy individuals. She entered Virginia Tech as a math major but soon realized she wanted a major with more interpersonal interaction. After taking a personal finance class, Dorsainvil became eager to share her knowledge with friends and family and became their “go-to finance person.” After graduating with a bachelor’s degree in agricultural and applied economics, she started her career at a small firm and later joined a larger financial investment firm. “I was working with clients who had to have at least $1 million in investable assets,” Dorsainvil said. Dorsainvil began seeing a need to equip millennials with the same tools and knowledge she provided to millionaires. “I was holding information hostage,” Dorsainvil said. “This information could change the financial trajectory of millennial professionals, and the generations after them. So, you tell me, because they haven't lived life long enough yet to amass this wealth, they must wait? This did not sit well with me.” Dorsainvil debuted her blog, “The Golden Financial Nuggets,” in 2013 to empower millennials and young professionals with their finances. The blog proved very successful, but Dorsainvil still wanted to do more to answer the needs of millennials and younger professionals. In 2015, she founded Your Greatest Contribution, a pioneering, 100-percent-virtual financial planning firm. It allowed clients across the nation to receive financial advice through video conferencing. “After my first client, the company continued to grow,” Dorsainvil said. “I was finding success in a market I knew was not being filled.” Beyond individual success, Dorsainvil champions diversity in finance. Through the “2050 Trailblazers” education platform and podcast she created, she amplifies voices advocating for inclusivity in the industry, advocating for a future where minorities, LGBTQ+ populations, and women shape financial landscapes. Hiwote Getaneh ’10, a graduate of the College of Science, is an immigrant who has benefited from Dorsainvil's unique model of working with women, millennials, and minorities. "She has been invaluable in teaching me how to put the proverbial oxygen mask on myself before putting it on everyone else," Getaneh said. "She has taught me how to think practically for the day-to-day while holding a clear and exciting vision of my financial future." For the past eight years, Dorsainvil has been part of the CNBC Advisory Council, which consists of vetted financial advisors who are the go-to sources for CNBC reporters. She was recently interviewed by Sharon Epperson, CNBC senior personal finance correspondent, about redefining what retirement means for the different generations working today. The mother of two is also a spokesperson for the CFP Board Center for Financial Planning as a part of their CFP® Pro Campaign, a campaign aimed at educating more women and minorities about the career of financial planning. In 2020, her firm, Your Greatest Contribution, took a strategic turn by merging and creating a new firm. That partnership allowed her to deepen her commitment to providing personalized, cutting-edge financial solutions. In 2024, that firm dissolved and Dorsainvil relaunched Your Greatest Contribution, as YGC Wealth . Harnessing AI in the finance world Dorsainvil is a prime example of how AI tools are revolutionizing the way we work. By setting up automated processes including using AI to automate tasks like recording meetings, summarizing, and drafting follow-up emails, she has significantly optimized her time management. This means more time focused on her clients. Having an early adoption spirit to technology, Dorsainvil has provided strategic feedback to early-stage AI firms who are developing custom AI tools specifically designed for financial planners. “Founders of companies are yearning for new and innovative technology tools they can build,” Dorsainvil said. In August, Dorsainvil, along with women leaders from Google and The Boeing Company, dove into the topic of how AI is transforming our world of work at Virginia Tech's Women in Industry event. She continues to support her alma mater by speaking to professional and student groups, including the Commodity Investing by Students at Virginia Tech organization in November. Continue reading on Virginia Tech News
- CNBC | 44% of workers are ‘cautiously optimistic’ about meeting retirement goals, CNBC poll finds. Here are key planning steps at every age
Key Points: Almost half, 44%, of workers in a new CNBC poll are “cautiously optimistic” about their ability to meet their retirement goals, and 27% say they are “realistic” about that happening. About half, 52%, of millennials and 47% of Gen Xers said “paying off debts or loans” is the main reason they feel behind in retirement planning or savings. Eighty-two percent of workers in that survey say achieving a comfortable retirement is “much harder or somewhat harder” to achieve than it was for their parents. Many American workers are optimistic about their retirement goals , but most believe it will be challenging for them to retire comfortably . Almost half, 44%, of workers in a new CNBC poll are “cautiously optimistic” about their ability to meet their retirement goals, and 27% say they are “realistic” about that happening. Even so, 82% of workers in that survey say achieving a comfortable retirement is “much harder or somewhat harder” to achieve than it was for their parents. A majority, 69%, are concerned about being able to afford to stop working or retire fully and 80% worry that Social Security will not be enough to live on in retirement. The CNBC report, conducted by SurveyMonkey, polled 6,657 U.S. adults, including 2,603 who are retired and 4,054 who are working full time or part time, are self-employed or who own a business. The decline in traditional pensions, the rising cost of health care and increasing life expectancy have contributed to workers’ need to rethink their retirement plans. “Retirement itself is being retired,” said Joseph Coughlin, director of the Massachusetts Institute of Technology AgeLab. “Often, within a year, two years, they found out that, frankly, they either need more money or need something to do.” Here are smart moves you can make at every age to make it easier to meet your retirement goals: In your 20s & 30s: Maximize tax-advantaged savings Many younger workers in the CNBC poll — including 43% of Gen Z and millennials, who are in their 20s to early 40s — are “cautiously optimistic” about their ability to meet their retirement goals. For people in their 20s and 30s, “retirement” is far away and means having the financial freedom to be “working because we want to, not necessarily because we have to,” said certified financial planner Rianka Dorsainvil, founder of YGC Wealth in Lanham, Maryland, and a CNBC Financial Advisor Council member. Starting to invest for retirement early , especially in tax-advantaged accounts, helps you make the most of your time investing in the market and leverage the power of compound interest . Various work opportunities can offer flexibility in options to save for the future. Many people in their 20s may work a 9-to-5 job and have a “side gig” or part-time job in the evenings or weekends. That means you could save in a 401(k) plan at work as well as a self-employed retirement plan, like a simplified employee pension-individual retirement account or Solo 401(k) on your own, said Nate Hoskin, a certified financial planner and founder of Hoskin Capital in Denver. Continue reading on CNBC
- Live updates at wealth management's first AI conference
Rachel Witkowski, Shane Cummings, Rianka R. Dorsainvil and Erik Allison spoke at ADVISE AI. AI-based tools advisors actually use — and like — in their practices With tech tools proliferating at lightning speed, how can financial advisors keep up while making the best tech choices for themselves and their firms? And what tools are they putting to work right now? FInancial Planning's tech and AI reporter Rachel WItkowski moderated a panel that explored those questions with three financial advisors: Rianka R. Dorsainvil, founder and senior wealth advisor at YGC Wealth; Shane Cummings, wealth advisor and director of technology and cybersecurity at Halbert Hargrove Global Advisors; and Erik Allison, wealth advisor at EAWealth.ai. Dorsainvil cited Jump, Vega Minds and FP Alpha as three of her most-used tools that help boost her practice productivity and deliver an elevated client experience, while Allison praised AdvisorX AI's ability to help him surmount writer's block and get creative on connecting with clients via unique communications. Continue reading on Financial Planning