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DECEMBER 2024
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SINGING THE SEASON
How Christmas Carols Bring Us Together
When it comes to Christmas, I always sing its praises, quite literally. This festive time of year which brings us together with our loved ones has always been a cherished family holiday. I love the spirit of togetherness and giving on full display during this chilly season. From reconnecting with relatives to joyfully interacting with strangers (and anyone dressed in a Santa suit), we are reminded it’s a wonderful time of year. One tradition (of many in my family), stands out as a unique favorite — caroling. Ever since I can remember, our family has gathered at my mother’s house for a Christmas Eve party. Our immediate family gets together early in the day to exchange gifts and have our own celebration before the rest of the guests arrive. After a big holiday meal and opening presents, we start to warm up our vocal cords. My mom has about 30 binders filled with Christmas carols that we all share. The little ones love to sing classic tunes like “Rudolph” and “Frosty the Snowman,” while my favorite has always been “The Little Drummer Boy.” (It’s got to be that catchy refrain “Rum Pum Pum Pum.”). We sing songs together as one big group and always end with two songs: For “The Twelve Days of Christmas,” we break
into groups, each assigned one of the days. Many will get up and act out their parts, dancing, drumming, and a-leaping as we join in unison to sing. We end the family concert with “Silent Night,” turning out the lights and holding up our phones as substitute candles. I don’t know exactly how our caroling tradition began, but we have always been a very musical family. Thinking back, my dad’s side always had a guitar and sang at gatherings. It’s evolved into a “must-see and be” event for our family and friends. My brother and his wife travel from Iowa to Colorado annually; even when their kids were young and had to see Santa up close and personal. No matter where we are or what we’ve got planned, unless some major obstacle prevents it, everyone shows up at Mom’s Christmas Eve party. Another significant aspect of our Christmas is that we always welcome “strays” into our home — those who may not be able to be with their families during the holidays, people who just need a strong connection at this time of year, or new transplants or neighbors without plans. It’s been nearly 30 years since my younger sister invited a young lady to join us who was new to the area and had no real connections. Every year, she continued to return, becoming a cherished part of our celebration and forever
bonding us. One of our clients met her future husband as a stray at her Christmas dinner, and more than 30 years later, they are still happily married! No matter where or when or why, it’s all about being inclusive, sharing friends and food, and the essence of the Christmas connection. As we gather together with the people we love, the world’s chaos fades away in the joy of music, food, and bonding. Every carol we sing, every smile we share, and every story we tell becomes a treasured memory that sticks long after the holiday has passed. So, with drums a-drumming and bells a-ringing, happy holidays to you and your family! –Jeremy Rafferty
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SWEETEN THE SEASON WITH A COOKIE SWAP! Leave Your Guests Smiling and Satisfied
For many of us around the world, the holiday season is all about family and tradition. We decorate our homes with garlands and lights, share family meals, attend office parties, go ice skating, and maybe even send a letter to Santa. Another special tradition spans generations and countries and seems to excite every family member — baker or not; it is baking holiday cookies! Some folks will make up a huge batch to bring to a big family get- together or office event; some just for immediate family to enjoy with carolers or while watching a favorite holiday movie. Others use the occasion to teach youngsters the power of creativity, sharing with others, and how to maneuver ‘mom’s kitchen’. Maybe this year you might consider hosting a holiday cookie swap with your loved ones. This tradition will allow you to try all sorts of different and delicious creations, learn something new, have a good excuse for getting together, and experience lots of tasty traditions. Start by determining whom to invite, set a budget, and determine how many cookies each guest is to bring to the event. Be sure to request labels; the name of the creation, baker, special ingredients that might trigger allergies,
and include a recipe (as long as it’s not a secret family tradition). Once you have the ground rules, and guest list and decorations set, you’re good to go. Send out the invitations, ground rules and go shopping for baking essentials and unique cookie cutters. You can even hold contests to increase the excitement — each guest can vote on the prettiest or tastiest cookies and offer small prizes to the winner. As long as those attending enjoy themselves, your event will be a success. Plus, everyone who attends will have plenty of delicious cookies to get them through the rest of the holiday season!
Turn Your Pay Adjustment Into Future Wealth
Can You Use Your Cost-of-Living Adjustment to Increase Your TSP Savings?
As a federal employee, every January brings the potential for a cost-of-living raise, determined by the president based on current economic indicators like inflation. In 2025, federal employees are likely to receive an average 1.7% increase in base pay and an average 0.3% increase in locality pay based on the cost of living in their location, according to a 2025 budget proposal sent by President Biden to Congress (WhiteHouse.gov). This 2% raise is more than just a boost in pay; it provides a valuable opportunity to
enhance your retirement savings through your Thrift Savings Plan (TSP). WHY CONSIDER INCREASING YOUR TSP CONTRIBUTION? Your TSP is a crucial part of the federal employee’s retirement puzzle, alongside your pension and Social Security. The cost-of-living increase gives you a great opportunity to increase your retirement savings without feeling the impact on your take-home pay. When you are used to living on a certain amount of money, diverting funds to your future can be challenging. But, by increasing your TSP contribution when you receive your increase, you won’t feel the impact. Your paycheck will stay the same, and your retirement savings will grow simultaneously.
will set yourself up to secure a comfortable retirement. Realistically, moving from 5% to 10% may be challenging, but you don’t have to do it all at once. Consider moving that additional income into your TSP when you receive your cost-of-living adjustment this year. Over time, as you receive another raise or a promotion, add a little more each time. Incrementally increasing your contribution as you earn more will help you reach that goal of 10% without feeling the financial strain. Your annual cost of living raise is designed to ensure your income keeps up with the current economy and inflation, but it’s also an excellent way to boost your retirement savings. By gradually increasing your contribution to your TSP, you can potentially build an optimized nest egg while having the funds you need to live comfortably while you are still working. Contact us at Federal Benefits Made Simple if you are ready to build a strong strategy for your financial independence and future.
TRY A GRADUAL INCREASE. For many federal employees, a 5%
contribution to their TSP is manageable, but if you can grow that to 10% over time, you
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Walk the Italian Riviera’s ‘Pathway of Love’ DISCOVER CINQUE TERRE
Imagine a cluster of ancient seaside villages nestled in the cliffs along the Italian Riviera so picturesque that it inspired a Disney film. Cinque Terre, or “five lands,” encompasses five breathtakingly photogenic fishing villages along the northwest coast of Italy. Recognized as a UNESCO World Heritage area, this national park offers all the attractions visitors love about Italy; extraordinary food and wine, exciting seaside views, vivid history and archeology. Childhood memories of Cinque Terre inspired Disney director Enrico Casarosa to re-create the setting for his Oscar- nominated coming-of-age film “Luca.” Cinque Terre’s narrow streets are often filled with day-trippers during the summer, nearly overwhelming the area’s 4,000 residents. The flood of tourists eases a bit in the winter, making it easier to savor Cinque Terre’s beauty and culture.
While farmers developed the area in the 11th century, Cinque Terre was inaccessible by road until the 1960s. One has to admire the ingenuity of residents who carved terraces into the steep cliffs, stacked houses down the ravines, and cultivated olives, grapes and citrus trees so superb that kings favored them during the Renaissance. Hiking is a favorite pastime here, and visitors this winter are in luck. One of the most beautiful walkways in the world, the half-mile Via dell’Amore (or Pathway of Love), reopened in August 2024 after repairs following a 2012 rockfall. Reservations are required, and visitors are only allowed to walk one way on the path from the village of Riomaggiore to Manarola. Unlike the steep, rugged hiking paths elsewhere in Cinque Terre, however, part of the Via dell’Amore is wheelchair accessible, and the breathtaking views are worth the effort.
Planning to drive in and around Cinque Terre isn’t wise. The clifftop roads are narrow (a little larger than a horse drawn cart) and frightening. It’s nearly impossible to get a photo because congested traffic needs to keep moving and nonresidents aren’t allowed to park in any of the villages. A better strategy is to take the train from the Genoa or Pisa airports (about 1–2 hours). Or consider the ferry that makes multiple stops along the coastline. One of the must haves is the Cinque Terre Card that gives you unlimited use of walking paths and electric village busses, as well as the elevator in Riomaggiore and cultural exhibitions. Check the national park website at Parconazionale5terre.it well before you arrive to learn about how to obtain the card and any storm closures, trail conditions and hazards.
Train Your Brain!
Creamy Thai Carrot and Sweet Potato Soup
INGREDIENTS
Inspired by CookieAndKate.com
• 1 tbsp coconut oil • 2 cups chopped yellow onion • 2 cloves garlic, minced • 1 tbsp minced fresh ginger • 2 tbsp red curry paste • 4 cups vegetable broth, divided
• 1/4 cup almond butter • 3 cups diced carrots • 3 cups peeled, diced sweet potatoes
• Salt and pepper to taste • Cayenne pepper (optional)
DIRECTIONS
1. Melt coconut oil in a large pot over medium heat. Add onion, garlic, and ginger and sauté for 5–6 minutes. Stir in curry paste. 2. In a small bowl, whisk 1/3 cup broth with the almond butter until smooth. Add the mixture to the pot, along with the carrots, sweet potatoes, salt and pepper, and remaining vegetable broth. Stir to combine. 3. Bring soup to a low boil over medium-high heat, then reduce heat, cover, and simmer for 15–20 minutes or until the potatoes and carrots are fork-tender. 4. Blend with an immersion blender until the soup is smooth. 5. Season with salt and pepper. Add a pinch of cayenne pepper for more spice if desired.
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INSIDE THIS ISSUE page 1 Harmonies Help Make Happy Holidays
page 2 ’Tis the Season to Swap Cookies An Opportunity to Increase Your Retirement
page 3 One of Italy’s Most Photogenic Seaside Destinations Creamy Thai Carrot and Sweet Potato Soup page 4 Combining Finances When Tying the Knot Later in Life
MERGING MONEY AFTER 50 Happily Ever After and Financially Fit
Congratulations if you are tying the knot after 50! More and more couples are marrying later in life when many unique financial considerations are in play. Families and property are just two of the many concerns that need to be resolved. Merging finances at this exciting stage in life involves retirement plans, adult children from previous relationships, not to mention different priorities for the future. It’s a lot to hash out, but here are a few insights as we explore how to merge marital finances in your 50s and beyond. Understanding Your Significant Other’s Spending Habits At this point in your life, your financial habits and values are well established compared to 20-somethings still finding their financial footing. Being transparent about your income, savings, and spending with your partner is essential – for both of you. You may suggest reviewing each
other’s credit reports, budgets, how to save and spend, not to mention extended health care and wills and trusts, and what each of you value and need. Discuss your hopes for day-to-day living as well as retirement and what it will take to get there and keep you there.
for shared expenditures like utilities and day to day expenses.
It’s a lot of difficult conversations that might seem prying, inquisitive,
Estate Planning There will inevitably be heirs when people 50+ join their lives. Reviewing your estate plans and directives together is essential to ensure your wishes for wealth distribution to heirs are clear. Embarking on this new chapter means more than just blending lives. It’s learning each other’s mannerisms and goals for the future, and making the most of this stage in life for the both of you. Achieving your joint financial goals helps ensure your golden years together are filled with harmony and peace of mind.
embarrassing, and downright meddling, but each are mountains better climbed prior to tying the knot than struggling with dizzying heights after the honeymoon. Handling Accounts All newlyweds (or newlyweds to be) should decide if they will merge their accounts fully or maintain separate ones. Those who are 50-plus are likely have more assets (real property or otherwise) to consider. Maybe you’ll keep individual bank accounts and create a joint account
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