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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